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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
In accordance with FASB ASC Topic 260-10-45 Earnings Per Share, the Company uses the two-class method to calculate earnings per share. Basic earnings per share is calculated based on dividends declared (“distributed earnings”) and the rights of common shares and participating securities in any undistributed earnings, which represents net income remaining after deduction of dividends declared during the period. Participating securities, which include unvested restricted stock, are included in the computation of earnings per share pursuant to the two-class method. The undistributed earnings are allocated to all outstanding common shares and participating securities based on the relative percentage of each security to the total number of outstanding securities. Basic earnings per common share and participating securities represent the summation of the distributed and undistributed earnings per common share and participating security divided by the total weighted average number of common shares outstanding and the total weighted average number of participating securities outstanding during the respective periods. We only present the earnings per share attributable to the common shareholders.
Net losses, after deducting the dividends to participating securities, are allocated in full to the common shares since the participating security holders do not have an obligation to share in the losses, based on the contractual rights and obligations of the participating securities. The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2019, 2018 and 2017:
The following table sets forth the computation of basic and diluted earnings per share:
 
 
Year ended December 31,
(Dollars in millions, except share amounts and per share data)
 
2019
 
2018
 
2017
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders
 
$
224.1

 
$
150.0

 
$
100.5

Net income and dividends allocated to participating securities
 
(0.3
)
 
(0.9
)
 
(1.1
)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities
 
223.8

 
149.1

 
99.4

Dividends declared on common shares
 
(121.1
)
 
(113.0
)
 
(86.5
)
Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders
 
$
102.7

 
$
36.1

 
$
12.9

 
 
 
 
 
 
 
Distributed earnings per share
 
$
0.85

 
$
0.78

 
$
0.70

Undistributed earnings per share
 
0.75

 
0.26

 
0.13

Income per basic
 
1.60

 
1.04

 
0.83

 
 
 
 
 
 
 
Income per diluted
 
$
1.58

 
$
1.04

 
$
0.83

 
 
 
 
 
 
 
Weighted-average shares outstanding for basic
 
139,729,573

 
142,895,472

 
119,147,192

Weighted average shares outstanding for diluted
 
141,501,323

 
144,753,421

 
119,147,192

Dividends declared per common share
 
$
0.85

 
$
0.78

 
$
0.70


There was a total of 13,133,785, 0 and 1,080,092 during the years ended December 31, 2019, 2018 and 2017 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive, respectively. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.