Income (loss) per Share

9 Months Ended

Oct. 03, 2021

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


	Three Months Ended				Nine Months Ended
	October 3, 2021		September 27, 2020		October 3, 2021		September 27, 2020

	(In thousands)
Numerator:
Income from continuing operations	$	41,317	$	20,569	$	114,030	$	38,633
Less: Net income attributable to noncontrolling interest	53		85		336		79
Income from continuing operations attributable to Belden stockholders	41,264		20,484		113,694		38,554
Add: Loss from discontinued operations, net of tax	—		(6,231)		—		(103,395)
Add: Gain on disposal of discontinued operations, net of tax	—		2,743		—		2,743
Net income (loss) attributable to Belden stockholders	$	41,264	$	16,996	$	113,694	$	(62,098)

Denominator:
Weighted average shares outstanding, basic	44,851		44,567		44,762		44,834
Effect of dilutive common stock equivalents	574		142		480		134
Weighted average shares outstanding, diluted	45,425		44,709		45,242		44,968

For the three and nine months ended October 3, 2021, diluted weighted average shares outstanding exclude outstanding equity awards of 1.0 million and 1.2 million, respectively, as they are anti-dilutive. In addition, for the three and nine months ended October 3, 2021, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.3 million, respectively, because the related performance conditions have not been satisfied.

For the three and nine months ended September 27, 2020, diluted weighted average shares outstanding exclude outstanding equity awards of 1.6 million and 1.5 million, respectively, as they are anti-dilutive. In addition, for both the three and nine months ended September 27, 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.