EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

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


	For the Year Ended December 31,
In millions, except per share data	2021		2020		2019
Numerator
Net income attributable to Wabtec common shareholders - basic	$	556	$	413	$	325
Add: dividends declared - preferred shares	—		—		1
Net income attributable to Wabtec common shareholders - diluted	$	556	$	413	$	326
Denominator
Weighted average shares outstanding - basic	187.7		189.9		170.5
Effect of dilutive securities:
Assumed conversion of preferred shares	—		—		6.4
Assumed conversion of dilutive stock-based compensation plans	0.4		0.5		0.4
Weighted average shares outstanding - diluted	188.1		190.4		177.3
Net income per common share attributable to Wabtec shareholders
Basic	$	2.96	$	2.18	$	1.91
Diluted	$	2.96	$	2.17	$	1.84

The Company’s non-vested restricted stock contains rights to receive non-forfeitable 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 resulting in a variance between net income used in the numerator and Net income attributable to Wabtec shareholders shown within the Consolidated Statements of Income. Additionally, the weighted average share counts in the denominator excludes the dilutive impact of the respective non-vested restricted stock.

Approximately 0.4 million, and 0.3 million outstanding shares of Common Stock for the years ended December 31, 2020 and 2019, respectively, were not included in the computation of year-to-date diluted earnings per share because their exercise price exceeded the average market price of the Company's common stock.