Income per Share

3 Months Ended

Mar. 29, 2020

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


	Three Months Ended
	March 29, 2020		March 31, 2019

	(In thousands)
Numerator:
Income from continuing operations	$	14,891	$	27,935
Less: Net loss attributable to noncontrolling interest	(30)		(24)
Less: Preferred stock dividends	—		8,733
Income from continuing operations attributable to Belden common stockholders	14,921		19,226
Add: Loss from discontinued operations, net of tax	(26,110)		(2,757)
Net income (loss) attributable to Belden common stockholders	$	(11,189)	$	16,469

Denominator:
Weighted average shares outstanding, basic	45,390		39,420
Effect of dilutive common stock equivalents	148		240
Weighted average shares outstanding, diluted	45,538		39,660

For the three months ended March 29, 2020, diluted weighted average shares outstanding exclude outstanding equity awards of 1.4 million which are anti-dilutive. In addition, for the three months ended March 29, 2020, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million because the related performance conditions have not been satisfied.

For the three months ended March 31, 2019, diluted weighted average shares outstanding exclude outstanding equity awards of 1.0 million which are anti-dilutive. In addition, for the three months ended March 31, 2019, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million because the related performance conditions have not been satisfied. Furthermore, for the three months ended March 31, 2019, diluted weighted average shares outstanding do not include the impact of preferred shares that were converted 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.