Income (loss) per Share

6 Months Ended

Jul. 04, 2021

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


	Three Months Ended				Six Months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020

	(In thousands)
Numerator:
Income from continuing operations	$	43,972	$	3,173	$	72,713	$	18,064
Less: Net income (loss) attributable to noncontrolling interest	208		24		283		(6)
Income from continuing operations attributable to Belden stockholders	43,764		3,149		72,430		18,070
Add: Loss from discontinued operations, net of tax	—		(71,054)		—		(97,164)

Net income (loss) attributable to Belden stockholders	$	43,764	$	(67,905)	$	72,430	$	(79,094)

Denominator:
Weighted average shares outstanding, basic	44,759		44,557		44,717		44,969
Effect of dilutive common stock equivalents	503		108		445		128
Weighted average shares outstanding, diluted	45,262		44,665		45,162		45,097

For both the three and six months ended July 4, 2021, diluted weighted average shares outstanding exclude outstanding equity awards of 1.3 million as they are anti-dilutive. In addition, for both the three and six months ended July 4, 2021, diluted weighted average shares outstanding do not include outstanding equity awards of 0.4 million because the related performance conditions have not been satisfied.

For the three and six months ended June 28, 2020, diluted weighted average shares outstanding exclude outstanding equity awards of 1.7 million and 1.5 million, respectively, which are anti-dilutive. In addition, for both the three and six months ended June 28, 2020, diluted weighted average shares outstanding do not include outstanding equity awards of 0.4 million because the related performance conditions have not been satisfied.

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.