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Earnings per Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Earnings per Share | 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 compensation 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) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Net income |  | $ | 44,906 |  |  | $ | 21,180 |  |  | $ | 128,141 |  |  | $ | 82,816 |
Preferred stock dividends |  | (10) |  |  | (10) |  |  | (30) |  |  | (30) |
Net income available to common equity |  | 44,896 |  |  | 21,170 |  |  | 128,111 |  |  | 82,786 |
Dividends and undistributed earnings allocated to participating securities |  | (8) |  |  | (3) |  |  | (21) |  |  | (25) |
Net income available to common shareholders |  | 44,888 |  |  | 21,167 |  |  | 128,090 |  |  | 82,761 |
Basic weighted-average shares outstanding |  | 39,172 |  |  | 39,194 |  |  | 39,243 |  |  | 39,152 |
Stock-based compensation awards |  | 127 |  |  | 236 |  |  | 171 |  |  | 272 |
Diluted weighted-average shares outstanding |  | 39,299 |  |  | 39,430 |  |  | 39,414 |  |  | 39,424 |
Earnings per share: |  |  |  |  |  |  |  |
Basic |  | $ | 1.15 |  |  | $ | 0.54 |  |  | $ | 3.26 |  |  | $ | 2.11 |
Diluted |  | $ | 1.14 |  |  | $ | 0.54 |  |  | $ | 3.25 |  |  | $ | 2.10 |
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the Company's fiscal 2021 Annual Report on Form 10-K.

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