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Earnings Per Share | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | 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 June 30, |  |
In millions, except per share data | 2020 |  | 2019
Numerator |  |  |
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders | $ | 86.8 |  |  | $ | 104.1 |
Less: dividends declared - common shares and non-vested restricted stock | (22.8) |  |  | (22.5) |
Undistributed earnings | 64.0 |  |  | 81.6 |
Percentage allocated to common shareholders (1) | 99.7 | % |  | 99.7 | %
| 63.8 |  |  | 81.4 |
Add: dividends declared - common shares | 22.8 |  |  | 22.5 |
Less: dividends declared - preferred shares | — |  |  | (0.4) |
Numerator for basic earnings per common share | 86.6 |  |  | 103.5 |
Add: dividends declared - preferred shares | — |  |  | 0.4 |
Numerator for diluted earnings per common share | 86.6 |  |  | 103.9 |
Denominator |  |  |
Denominator for basic earnings per common share - weighted average shares | 189.8 |  |  | 177.3 |
Effect of dilutive securities: |  |  |
Assumed conversion of preferred shares | — |  |  | 13.7 |
Assumed conversion of dilutive stock-based compensation plans | 0.4 |  |  | 0.4 |
Denominator for diluted earnings per common share adjusted weighted average shares and assumed conversion | 190.2 |  |  | 191.5 |
Net income attributable to Wabtec shareholders per common share |  |  |
Basic | $ | 0.46 |  |  | $ | 0.58 |
Diluted | $ | 0.46 |  |  | $ | 0.54 |
(1) Basic weighted-average common shares outstanding | 189.8 |  |  | 177.3 |
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest | 190.3 |  |  | 177.9 |
Percentage allocated to common shareholders | 99.7 | % |  | 99.7 | %
| Six Months Ended June 30, |  |
In millions, except per share data | 2020 |  | 2019
Numerator |  |  |
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders | $ | 198.4 |  |  | $ | 99.7 |
Less: dividends declared - common shares and non-vested restricted stock | (45.8) |  |  | (34.2) |
Undistributed earnings | 152.6 |  |  | 65.5 |
Percentage allocated to common shareholders (1) | 99.7 | % |  | 99.7 | %
| 152.1 |  |  | 65.3 |
Add: dividends declared - common shares | 45.7 |  |  | 34.1 |
Less: dividends declared - preferred shares | — |  |  | (0.4) |
Numerator for basic earnings per common share | 197.8 |  |  | 99.0 |
Add: dividends declared - preferred shares | — |  |  | 0.4 |
Numerator for diluted earnings per common share | 197.8 |  |  | 99.4 |
Denominator |  |  |
Denominator for basic earnings per common share - weighted average shares | 190.3 |  |  | 149.6 |
Effect of dilutive securities: |  |  |
Assumed conversion of preferred shares | — |  |  | 12.2 |
Assumed conversion of dilutive stock-based compensation plans | 0.5 |  |  | 0.4 |
Denominator for diluted earnings per common share adjusted weighted average shares and assumed conversion | 190.8 |  |  | 162.2 |
Net income attributable to Wabtec shareholders per common share |  |  |
Basic | $ | 1.04 |  |  | $ | 0.66 |
Diluted | $ | 1.04 |  |  | $ | 0.61 |
(1) Basic weighted-average common shares outstanding | 190.3 |  |  | 149.6 |
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest | 190.8 |  |  | 150.0 |
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.

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