Earnings per Share

Basic earnings per share attributable to MSA Safety Incorporated common shareholders is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share attributable to MSA Safety Incorporated common shareholders assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based payment awards that contain nonforfeitable rights to dividends.



Amounts attributable to MSA Safety Incorporated common shareholders:	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except per share amounts)	2017			2016			2017			2016
Net income from continuing operations	$	32,066		$	25,486		$	59,011		$	67,475
Preferred stock dividends	(10		)	(11		)	(30		)	(29		)
Income from continuing operations available to common equity	32,056			25,475			58,981			67,446
Dividends and undistributed earnings allocated to participating securities	(36		)	(38		)	(62		)	(105		)
Income from continuing operations available to common shareholders	32,020			25,437			58,919			67,341

Net loss from discontinued operations	$	—		$	(1,300	)	$	—		$	(455	)
Preferred stock dividends	—			1			—			(1		)
Loss from discontinued operations available to common equity	—			(1,299		)	—			(456		)
Dividends and undistributed earnings allocated to participating securities	—			2			—			1
Loss from discontinued operations available to common shareholders	—			(1,297		)	—			(455		)

Basic weighted-average shares outstanding	38,074			37,487			37,970			37,407
Stock options and other stock compensation	628			625			722			501
Diluted weighted-average shares outstanding	38,702			38,112			38,692			37,908
Antidilutive stock options	—			—			—			—

Earnings per share attributable to continuing operations:
Basic	$	0.84		$	0.68		$	1.55		$	1.80
Diluted	$	0.83		$	0.67		$	1.52		$	1.77

Loss per share attributable to discontinued operations:
Basic	$	—		$	(0.04	)	$	—		$	(0.01	)
Diluted	$	—		$	(0.04	)	$	—		$	(0.01	)