Income (loss) per Share

3 Months Ended

Apr. 02, 2023

The following table presents the basis for the income (loss) per share computations:


	Three Months Ended
	April 2, 2023		April 3, 2022

	(In thousands)
Numerator:
Income from continuing operations	$	62,945	$	44,096
Less: Net income (loss) attributable to noncontrolling interest	(247)		3
Income from continuing operations attributable to Belden stockholders	63,192		44,093
Add: Loss from discontinued operations, net of tax	—		(3,685)
Add: Loss on disposal of discontinued operations, net of tax	—		(4,567)
Net income attributable to Belden stockholders	$	63,192	$	35,841

Denominator:
Weighted average shares outstanding, basic	42,827		44,811
Effect of dilutive common stock equivalents	842		756
Weighted average shares outstanding, diluted	43,669		45,567

For the three months ended April 2, 2023 and April 3, 2022, diluted weighted average shares outstanding excluded outstanding equity awards of 0.2 million and 1.1 million, respectively, as they were anti-dilutive. In addition, for both the three months ended April 2, 2023 and April 3, 2022, diluted weighted average shares outstanding did not include outstanding equity awards of 0.1 million because the related performance conditions have not been satisfied.

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.