EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2017

6. EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income attributable to WESCO International by the weighted-average number of common shares outstanding during the periods. Diluted earnings per share is computed by dividing net income attributable to WESCO International by the weighted-average common shares and common share equivalents outstanding during the periods. The dilutive effect of common share equivalents is considered in the diluted earnings per share computation using the treasury stock method, which includes consideration of equity awards and contingently convertible debt.

The following table sets forth the details of basic and diluted earnings per share:



	Three Months Ended
	March 31,
(In thousands, except per share data)	2017		2016
Net income attributable to WESCO International, Inc.	$	37,729	$	36,053
Weighted-average common shares outstanding used in computing basic earnings per share	48,707		42,210
Common shares issuable upon exercise of dilutive equity awards	694		414
Common shares issuable from contingently convertible debentures (see below for basis of calculation)	—		4,189
Weighted-average common shares outstanding and common share equivalents used in computing diluted earnings per share	49,401		46,813
Earnings per share attributable to WESCO International, Inc.
Basic	$	0.77	$	0.85
Diluted	$	0.76	$	0.77

For the three months ended March 31, 2017 and 2016, the computation of diluted earnings per share attributable to WESCO International, Inc. excluded stock-based awards of approximately 1.3 million and 2.3 million, respectively. These amounts were excluded because their effect would have been antidilutive.

Because of WESCO’s previous obligation to settle the par value of the 6.0% Convertible Senior Debentures due 2029 (the "2029 Debentures") in cash upon conversion, WESCO was required to include shares underlying the 2029 Debentures in its diluted weighted-average shares outstanding when the average stock price per share for the period exceeded the conversion price of the debentures. Only the number of shares that would have been issuable under the treasury stock method of accounting for share dilution were included, which was based upon the amount by which the average stock price exceeded the conversion price. The conversion price of the 2029 Debentures was $28.87 and the maximum amount of share dilution was limited to 11,951,932 shares. Since the 2029 Debentures were redeemed on September 15, 2016, there was no dilution from contingently convertible debentures for the three months ended March 31, 2017. For the three months ended March 31, 2016, the effect of the 2029 Debentures on diluted earnings per share attributable to WESCO International, Inc. was a decrease of $0.08.