Income per Share

6 Months Ended

Jun. 30, 2019

The following table presents the basis for the income per share computations:



	Three Months Ended					Six Months Ended
	June 30, 2019		July 1, 2018			June 30, 2019		July 1, 2018

	(In thousands)
Numerator:
Net income	$	42,290	$	28,792		$	67,468	$	31,362
Less: Net income (loss) attributable to noncontrolling interests	90		(77		)	66		(125		)
Less: Preferred stock dividends	8,733		8,733			17,466		17,466
Net income attributable to Belden common stockholders	$	33,467	$	20,136		$	49,936	$	14,021

Denominator:
Weighted average shares outstanding, basic	39,389		40,735			39,405		41,184
Effect of dilutive common stock equivalents	222		239			230		308
Weighted average shares outstanding, diluted	39,611		40,974			39,635		41,492

For the three and six months ended June 30, 2019, diluted weighted average shares outstanding do not include outstanding equity awards of 1.2 million and 1.1 million, respectively, because to do so would have been anti-dilutive. In addition, for the three and six months ended June 30, 2019, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.3 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for both

the three and six months ended June 30, 2019, diluted weighted average shares outstanding do not include the impact of preferred shares that are convertible into 6.9 million common shares, because deducting the preferred stock dividends from net income was more dilutive.

For the three and six months ended July 1, 2018, diluted weighted average shares outstanding do not include outstanding equity awards of 0.9 million and 0.7 million, respectively, because to do so would have been anti-dilutive. In addition, for the three and six months ended July 1, 2018, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.2 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for both the three and six months ended July 1, 2018, diluted weighted average shares outstanding do not include the impact of preferred shares that are convertible into 6.9 million common shares, because deducting the preferred stock dividends from net income was more dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.