EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

The computation of earnings per share from operations is as follows:

	For the Year Ended December 31,
In millions, except per share data	2019			2018			2017
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	326.7		$	294.9		$	262.3
Less: dividends declared - common shares and non-vested restricted stock	(80.3)			(46.3)			(42.2)
Undistributed earnings	246.4			248.6			220.1
Percentage allocated to common shareholders (1)	99.7		%	99.7		%	99.7		%
	245.7			247.9			219.4
Add: dividends declared - common shares	80.0			46.3			42.2
Less: dividends declared - preferred shares	(0.4)			—			—
Numerator for basic earnings per common share	$	325.3		$	294.2		$	261.6
Add: dividends declared - preferred shares	0.4			—			—
Numerator for diluted earnings per common share	$	325.7		$	294.2		$	261.6
Denominator
Denominator for basic earnings per common share - weighted average shares	170.5			96.0			95.5
Effect of dilutive securities:
Assumed conversion of preferred shares	6.4			—			—
Assumed conversion of dilutive stock-based compensation plans	0.4			0.5			0.6
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion	177.3			96.5			96.1
Net income per common share attributable to Wabtec shareholders
Basic	$	1.91		$	3.06		$	2.74
Diluted	$	1.84		$	3.05		$	2.72
(1) Basic weighted-average common shares outstanding	170.5			96.0			95.5
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	171.0			96.3			95.7
Percentage allocated to common shareholders	99.7		%	99.7		%	99.7		%

Options to purchase approximately 312,000, 135,000, and 24,000 shares of Common Stock were outstanding in 2019, 2018 and 2017, respectively, but were not included in the computation of diluted earnings because their impact would have been antidilutive.