Income per Share

6 Months Ended

Jun. 30, 2024

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


	Three Months Ended				Six Months Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023

	(In thousands)
Numerator:
Net income	$	49,034	$	68,775	$	86,343	$	131,720
Less: Net income (loss) attributable to noncontrolling interest	(10)		22		(14)		(225)



Net income attributable to Belden stockholders	$	49,044	$	68,753	$	86,357	$	131,945
Denominator:
Weighted average shares outstanding, basic	40,690		42,497		40,838		42,663
Effect of dilutive common stock equivalents	514		591		510		717
Weighted average shares outstanding, diluted	41,204		43,088		41,348		43,380

For both the three and six months ended June 30, 2024 and July 2, 2023, diluted weighted average shares outstanding do not include outstanding equity awards of 0.1 million and 0.2 million, respectively, because they are anti-dilutive. In addition, for the three and six months ended June 30, 2024, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.3 million, respectively, because the related performance conditions have not been satisfied. For the three and six months ended July 2, 2023, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 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.