Income Per Share

12 Months Ended

Dec. 31, 2019

The following table presents the basis of the income per share computation:



	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Numerator:
Income from continuing operations	$	109,891		$	167,144		$	102,607
Less: Net income (loss) attributable to noncontrolling interest	239			(183		)	(357		)
Less: Preferred stock dividends	18,437			34,931			34,931
Income from continuing operations attributable to Belden common stockholders	91,215			132,396			68,033
Add: Loss from discontinued operations, net of tax	(486,667		)	(6,433		)	(9,754		)
Net income (loss) attributable to Belden common stockholders	$	(395,452	)	$	125,963		$	58,279
Denominator:
Weighted average shares outstanding, basic	42,203			40,675			42,220
Effect of dilutive common stock equivalents	213			281			423
Weighted average shares outstanding, diluted	42,416			40,956			42,643

Basic weighted average shares outstanding is used to calculate diluted loss per share when the numerator is a loss because using diluted weighted average shares outstanding would be anti-dilutive.

For the years ended December 31, 2019, 2018, and 2017, diluted weighted average shares outstanding do not include outstanding equity awards of 1.2 million, 0.9 million, and 0.5 million, respectively, because to do so would have been anti-dilutive. In addition, for the years ended December 31, 2019, 2018, and 2017, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, 0.3 million, and 0.2 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for the years ended December 31, 2019, 2018, and 2017, diluted weighted average shares outstanding do not include the weighted average impact of preferred shares that are convertible into 3.7 million, 6.9 million, and 6.9 million common shares, respectively, 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.