Income per Share

3 Months Ended

Mar. 31, 2024

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


	Three Months Ended
	March 31, 2024		April 2, 2023

	(In thousands)
Numerator:
Net income	$	37,309	$	62,945
Less: Net loss attributable to noncontrolling interest	(4)		(247)



Net income attributable to Belden stockholders	$	37,313	$	63,192
Denominator:
Weighted average shares outstanding, basic	40,986		42,827
Effect of dilutive common stock equivalents	505		842
Weighted average shares outstanding, diluted	41,491		43,669

For the three months ended March 31, 2024 and April 2, 2023, diluted weighted average shares outstanding do not include outstanding equity awards of 0.1 million and 0.2 million, respectively, because they are anti-dilutive. In addition, for the three months ended March 31, 2024 and April 2, 2023, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.1 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.