Income Per Share

The following table presents the basis of the income per share computation:



	Years Ended December 31,
	2018			2017			2016
	(In thousands)
Numerator:
Net income	$	160,711		$	92,853		$	127,646
Less: Net loss attributable to noncontrolling interest	(183		)	(357		)	(357		)
Less: Preferred stock dividends	34,931			34,931			15,428
Net income attributable to Belden common stockholders	$	125,963		$	58,279		$	112,575
Denominator:
Weighted average shares outstanding, basic	40,675			42,220			42,093
Effect of dilutive common stock equivalents	281			423			464
Weighted average shares outstanding, diluted	40,956			42,643			42,557

For the years ended December 31, 2018, 2017, and 2016, diluted weighted average shares outstanding do not include outstanding equity awards of 0.9 million, 0.5 million, and 0.6 million, respectively, because to do so would have been anti-dilutive. In addition, for the years ended December 31, 2018, 2017, and 2016, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, 0.2 million, and 0.1 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for the years ended December 31, 2018, 2017, and 2016, diluted weighted average shares outstanding do not include the weighted average impact of preferred shares that are convertible into 6.9 million, 6.9 million, and 3.0 million common shares, respectively, because deducting the preferred stock dividends from net income was more dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.