(in $ thousands, except per share amounts)

2019

2018

2017

NUMERATOR

Net earnings (loss)

$

62,082

$

(5,481

)

$

87,231

Net loss (earnings) attributable to noncontrolling interests

737

40

(31

)

Net earnings (loss) attributable to Caleres, Inc.

$

62,819

$

(5,441

)

$

87,200

Net earnings allocated to participating securities

(1,988

)

—

(2,384

)

Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities

$

60,831

$

(5,441

)

$

84,816

DENOMINATOR

Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders

39,796

41,756

41,801

Dilutive effect of share-based awards

57

—

179

Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders

39,853

41,756

41,980

Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders

$

1.53

$

(0.13

)

$

2.03

Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders

$

1.53

$

(0.13

)

$

2.02