Earnings per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
(In thousands, except per share amounts)	2022		2021		2022		2021
Net income	$	47,693	$	25,186	$	83,235	$	61,636
Preferred stock dividends	(10)		(10)		(20)		(20)
Net income available to common equity	47,683		25,176		83,215		61,616
Dividends and undistributed earnings allocated to participating securities	(8)		(8)		(13)		(22)
Net income available to common shareholders	47,675		25,168		83,202		61,594

Basic weighted-average shares outstanding	39,266		39,167		39,279		39,131
Stock-based compensation awards	155		253		193		290
Diluted weighted-average shares outstanding	39,421		39,420		39,472		39,421
Antidilutive stock options	—		—		—		—

Earnings per share:
Basic	$	1.21	$	0.64	$	2.12	$	1.57
Diluted	$	1.21	$	0.64	$	2.11	$	1.56

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