Earnings Per Share

12 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:


	Year Ended December 31,
	2020		2019		2018
	(Amounts in thousands, except per share data)
Net earnings of Flowserve Corporation	$	116,326	$	238,828	$	104,508
Dividends on restricted shares not expected to vest	—		—		—
Earnings attributable to common and participating shareholders	$	116,326	$	238,828	$	104,508
Weighted average shares:
Common stock	130,373		131,012		130,794
Participating securities	22		22		29
Denominator for basic earnings per common share	130,395		131,034		130,823
Effect of potentially dilutive securities	655		685		448
Denominator for diluted earnings per common share	131,050		131,719		131,271
Net earnings per share attributable to Flowserve Corporation common shareholders:
Basic	$	0.89	$	1.82	$	0.80
Diluted	0.89		1.81		0.80

Diluted earnings per share is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options, restricted shares, restricted share units and performance share units.

For the years ended ending December 31, 2020, 2019 and 2018, unvested restricted shares of 375,203, 140,459, and 88,656, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.