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Earnings Per Share | 9 Months Ended
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Sep. 30, 2021
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 September 30,
In millions, except per share data | 2021 |  | 2020
Numerator |  |  |
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders | $ | 130.6 |  |  | $ | 128.1 |
Less: dividends declared - common shares and non-vested restricted stock | (22.6) |  |  | (22.8) |
Undistributed earnings | 108.0 |  |  | 105.3 |
Percentage allocated to common shareholders (1) | 99.8 | % |  | 99.8 | %
| 107.8 |  |  | 105.1 |
Add: dividends declared - common shares | 22.6 |  |  | 22.8 |
Numerator for basic earnings per common share | $ | 130.4 |  |  | $ | 127.9 |
Numerator for diluted earnings per common share | $ | 130.4 |  |  | $ | 127.9 |
Denominator |  |  |
Denominator for basic earnings per common share - weighted average shares | 187.6 |  |  | 189.8 |
Effect of dilutive securities: |  |  |
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 | 188.0 |  |  | 190.2 |
Net income attributable to Wabtec shareholders per common share |  |  |
Basic | $ | 0.69 |  |  | $ | 0.67 |
Diluted | $ | 0.69 |  |  | $ | 0.67 |
(1) Basic weighted-average common shares outstanding | 187.6 |  |  | 189.8 |
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest | 188.0 |  |  | 190.3 |
Percentage allocated to common shareholders | 99.8 | % |  | 99.8 | %
| Nine Months Ended September 30,
In millions, except per share data | 2021 |  | 2020
Numerator |  |  |
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders | $ | 367.8 |  |  | $ | 326.5 |
Less: dividends declared - common shares and non-vested restricted stock | (68.0) |  |  | (68.7) |
Undistributed earnings | 299.8 |  |  | 257.8 |
Percentage allocated to common shareholders (1) | 99.8 | % |  | 99.7 | %
| 299.2 |  |  | 257.0 |
Add: dividends declared - common shares | 67.9 |  |  | 68.5 |
Numerator for basic earnings per common share | $ | 367.1 |  |  | $ | 325.5 |
Numerator for diluted earnings per common share | $ | 367.1 |  |  | $ | 325.5 |
Denominator |  |  |
Denominator for basic earnings per common share - weighted average shares | 188.2 |  |  | 190.1 |
Effect of dilutive securities: |  |  |
Assumed conversion of dilutive stock-based compensation plans | 0.4 |  |  | 0.5 |
Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion | 188.6 |  |  | 190.6 |
Net income attributable to Wabtec shareholders per common share |  |  |
Basic | $ | 1.95 |  |  | $ | 1.71 |
Diluted | $ | 1.95 |  |  | $ | 1.71 |
(1) Basic weighted-average common shares outstanding | 188.2 |  |  | 190.1 |
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest | 188.6 |  |  | 190.6 |
Percentage allocated to common shareholders | 99.8 | % |  | 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. Approximately 0.1 million outstanding shares of Common Stock for the three and nine month period of 2021 were not included in the computation of quarterly or year-to-date diluted earnings per share because their exercise price exceeded the average market price of the Company's common stock.

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