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Earnings per Share from Continuing Operations
 9 Months Ended
Sep. 29, 2023
Earnings Per Share [Abstract]  
Earnings per Share from Continuing Operations Earnings per Share from Continuing Operations
The Company has unvested share-based payment awards with a right to receive non-forfeitable dividends, which are considered participating securities. The Company allocates earnings to participating securities and computed earnings per share using the two-class method as follows:
Three Months Ended
Nine Months Ended
September 29, 2023September 30, 2022September 29, 2023September 30, 2022
(In thousands, except share and per share data)
Computation of earnings per share from continuing operations – basic:
Income from continuing operations attributable to ESAB Corporation(1)
$59,293 $53,331 $159,305 $167,938 
Less: distributed and undistributed earnings allocated to nonvested shares(425)(407)(1,162)(1,152)
Income from continuing operations attributable to common stockholders$58,868 $52,924 $158,143 $166,786 
Weighted-average shares of Common stock outstanding – basic(3)
60,265,516 60,063,553 60,216,606 60,045,306 
Income per share from continuing operations – basic$0.98 $0.88 $2.63 $2.78 
Computation of earnings per share from continuing operations – diluted:
Income from continuing operations attributable to common stockholders$58,868 $52,924 $158,143 $166,786 
Weighted-average shares of Common stock outstanding – basic(3)
60,265,516 60,063,553 60,216,606 60,045,306 
Net effect of potentially dilutive securities(2)
465,197 99,668 376,153 82,378 
Weighted-average shares of Common stock outstanding – dilution60,730,713 60,163,221 60,592,759 60,127,684 
Net income per share from continuing operations – diluted$0.97 $0.88 $2.61 $2.77 
(1) Net income from continuing operations attributable to ESAB Corporation for the respective periods is calculated using Net income from continuing operations, less Income attributable to noncontrolling interest, net of taxes, of $1.5 million and $4.5 million for the three and nine months ended September 29, 2023, respectively, and $1.0 million and $2.7 million for the three and nine months ended September 30, 2022, respectively.
(2) Potentially dilutive securities include stock options, performance-based restricted stock units, and non-performance-based restricted stock units.
(3) Prior to the Separation, the Company did not have any publicly-traded common stock or equivalents issued and outstanding. Accordingly, the net income per share for the three months ended April 1, 2022 is calculated based on the 60.0 million shares distributed on the Separation Date.