Income (loss) per Share

3 Months Ended

Apr. 03, 2022

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


	Three Months Ended
	April 3, 2022		April 4, 2021

	(In thousands)
Numerator:
Income from continuing operations	$	44,096	$	29,065
Less: Net income attributable to noncontrolling interest	3		75
Income from continuing operations attributable to Belden stockholders	44,093		28,990
Add: Loss from discontinued operations, net of tax	(3,685)		(324)
Add: Loss on disposal of discontinued operations, net of tax	(4,567)		—
Net income attributable to Belden stockholders	$	35,841	$	28,666

Denominator:
Weighted average shares outstanding, basic	44,811		44,679
Effect of dilutive common stock equivalents	756		366
Weighted average shares outstanding, diluted	45,567		45,045

For the three months ended April 3, 2022 and April 4, 2021, diluted weighted average shares outstanding exclude outstanding equity awards of 1.1 million and 1.3 million, respectively, as they are anti-dilutive. In addition, for the three months ended April 3, 2022 and April 4, 2021, diluted weighted average shares outstanding do not include outstanding equity awards of 0.1 million and 0.4 million, respectively, 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.