Income Per Share

12 Months Ended

Dec. 31, 2021

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Numerator:
Income from continuing operations	$	62,457	$	54,403	$	109,891
Less: Net income attributable to noncontrolling interest	392		104		239
Less: Preferred stock dividends	—		—		18,437
Income from continuing operations attributable to Belden common stockholders	62,065		54,299		91,215
Add: Loss from discontinued operations, net of tax	—		(99,513)		(486,667)
Add: Gain (loss) on disposal of discontinued operations, net of tax	1,860		(9,948)		—
Net income (loss) attributable to Belden common stockholders	$	63,925	$	(55,162)	$	(395,452)
Denominator:
Weighted average shares outstanding, basic	44,802		44,778		42,203
Effect of dilutive common stock equivalents	559		159		213
Weighted average shares outstanding, diluted	45,361		44,937		42,416

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, 2021, 2020, and 2019, diluted weighted average shares outstanding exclude outstanding equity awards of 1.1 million, 1.5 million, and 1.2 million, respectively, which are anti-dilutive. In addition, for the years ended December 31, 2021, 2020, and 2019, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million, 0.4 million, and 0.3 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for the year ended December 31, 2019, diluted weighted average shares outstanding do not include the weighted average impact of preferred shares that were convertible into 3.7 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.