Income Per Share

12 Months Ended

Dec. 31, 2023

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


	Years Ended December 31,
	2023		2022		2021
	(In thousands)
Numerator:
Income from continuing operations	$	242,556	$	267,748	$	198,841
Less: Net income (loss) attributable to noncontrolling interest	(203)		159		392

Income from continuing operations attributable to Belden common stockholders	242,759		267,589		198,449
Add: Loss from discontinued operations, net of tax	—		(3,685)		(136,384)
Add: Gain (loss) on disposal of discontinued operations, net of tax	—		(9,241)		1,860
Net income attributable to Belden common stockholders	$	242,759	$	254,663	$	63,925
Denominator:
Weighted average shares outstanding, basic	42,237		43,845		44,802
Effect of dilutive common stock equivalents	622		692		559
Weighted average shares outstanding, diluted	42,859		44,537		45,361

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, 2023, 2022, and 2021, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million, 0.8 million, and 1.1 million, respectively, because they are anti-dilutive. In addition, for the years ended December 31, 2023, 2022, and 2021, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, 0.2 million, and 0.2 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.