Earnings Per Share Attributable to Federated Investors, Inc. Shareholders

The following table sets forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Federated for the years ended December 31:



(in thousands, except per share data)	2018			2017			2016
Numerator
Net Income Attributable to Federated Investors, Inc.¹	$	220,297		$	291,341		$	208,919
Less: Total Net Income Available to Participating Unvested Restricted Shareholders²	(8,555		)	(11,420		)	(7,632		)
Total Net Income Attributable to Federated Common Stock - Basic¹	$	211,742		$	279,921		$	201,287
Less: Total Net Income Available to Unvested Restricted Shareholders of a Nonpublic Consolidated Subsidiary	(794		)	0			0
Total Net Income Attributable to Federated Common Stock - Diluted¹	$	210,948		$	279,921		$	201,287
Denominator
Basic Weighted-Average Federated Common Stock³	96,949			97,411			99,116
Dilutive Potential Shares from Stock Options	0			1			1
Diluted Weighted-Average Federated Common Stock³	96,949			97,412			99,117
Earnings Per Share
Net Income Attributable to Federated Common Stock - Basic and Diluted^3,4	$	2.18		$	2.87		$	2.03


1	2017 includes a $70.4 million reduction to the income tax provision resulting from the revaluation of the net deferred tax liability due to the enactment of the Tax Act, thereby increasing net income.


2	Includes dividends paid on unvested restricted Federated Class B common shares and their proportionate share of undistributed earnings attributable to Federated shareholders.


3	Federated Common Stock excludes unvested restricted stock which are deemed participating securities in accordance with the two-class method of computing earnings per share.


4	2017 includes a $0.69 increase to earnings per share resulting from the revaluation of the net deferred tax liability due to the enactment of the Tax Act.