Earnings Per Share

3 Months Ended

Mar. 31, 2020

EARNINGS PER SHARE

The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:


	Three Months Ended March 31,
In millions, except per share data	2020			2019
Numerator
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders	$	111.6		$	(4.5)
Less: dividends declared - common shares and non-vested restricted stock	(23.0)			(11.7)
Undistributed earnings	88.6			(16.2)
Percentage allocated to common shareholders (1)	99.7		%	99.7		%
	88.3			(16.2)
Add: dividends declared - common shares	22.9			11.6
Numerator for diluted earnings per common share	111.2			(4.6)
Denominator
Denominator for basic earnings per common share - weighted average shares	190.8			121.2
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans	0.6			—
Denominator for diluted earnings per common share adjusted weighted average shares and assumed conversion	191.4			121.2
Net income attributable to Wabtec shareholders per common share
Basic	$	0.58		$	(0.04)
Diluted	$	0.58		$	(0.04)


(1) Basic weighted-average common shares outstanding	190.8		121.2
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest	191.4		121.6
Percentage allocated to common shareholders	99.7	%	99.7	%

The Company’s non-vested restricted stock contains rights to receive nonforfeitable dividends, and thus are participating securities requiring the two-class method of computing earnings per share. The calculation of earnings per share for common stock shown above excludes the income attributable to the non-vested restricted stock from the numerator and excludes the dilutive impact of those shares from the denominator.

For the three months ended March 31, 2019, basic weighted average shares outstanding and diluted shares outstanding were the same because the effect of assumed conversion of preferred shares and assumed conversion of shares related to stock based compensation plans were anti-dilutive since the Company generated a net loss.