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 thousands, except per share data	2019			2018
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	(4,472	)	$	88,366
Less: dividends declared - common shares and non-vested restricted stock	(11,687		)	(11,531		)
Undistributed earnings	(16,159		)	76,835
Percentage allocated to common shareholders (1)	99.7		%	99.7		%
	(16,111		)	76,604
Add: dividends declared - common shares	11,646			11,497
Numerator for basic and diluted earnings per common share	$	(4,465	)	$	88,101
Denominator
Denominator for basic earnings per common share - weighted average shares	121,226			95,810
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans	—			561
Denominator for diluted earnings per common share -
adjusted weighted average shares and assumed conversion	121,226			96,371
Net income attributable to Wabtec shareholders per common share
Basic	$	(0.04	)	$	0.92
Diluted	$	(0.04	)	$	0.92



(1) Basic weighted-average common shares outstanding	121,226		95,810
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest	121,565		96,091
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.