Earnings per Share

3 Months Ended

Mar. 31, 2022

Basic earnings per share attributable to MSA Safety Incorporated common shareholders is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MSA Safety Incorporated common shareholders assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based compensation awards that contain nonforfeitable rights to dividends.


Amounts attributable to MSA Safety Incorporated common shareholders:	Three Months Ended March 31,
(In thousands, except per share amounts)	2022		2021
Net income	$	35,542	$	36,450
Preferred stock dividends	(10)		(10)
Net income available to common equity	35,532		36,440
Dividends and undistributed earnings allocated to participating securities	(4)		(14)
Net income available to common shareholders	35,528		36,426

Basic weighted-average shares outstanding	39,291		39,094
Stock-based compensation awards	232		326
Diluted weighted-average shares outstanding	39,523		39,420
Antidilutive stock options	—		—

Earnings per share:
Basic	$	0.90	$	0.93
Diluted	$	0.90	$	0.92

*Prior period has been adjusted to reflect the change in inventory accounting method, as described in the Company's fiscal 2021 Annual Report on Form 10-K.