The Company’s non-vested restricted stock contains rights to receive non-forfeitable dividends, and thus are participating securities requiring the two-class method of computing earnings per share. The calculation of earnings per share for common stock excludes the income attributable to the non-vested restricted stock from the numerator, which results in approximately 0.3% of Net income attributable to Wabtec shareholders being allocated to non-vested restricted stock in all periods presented. Additionally, the dilutive impact of the assumed conversion of non-vested restricted stock is excluded from the denominator of the diluted weighted average shares outstanding. The computation of basic and diluted earnings per share for Net income attributable to Wabtec shareholders is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
In millions, except per share data	2025		2024		2025		2024
Numerator
Net income attributable to Wabtec shareholders	$	336	$	289	$	658	$	561
Less: Net income allocated to non-vested restricted stock	(1)		(1)		(2)		(2)
Numerator for basic and diluted earnings per common share	$	335	$	288	$	656	$	559
Denominator
Weighted average shares outstanding - basic	170.6		175.4		170.6		176.0
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans excluding non-vested restricted stock	0.3		0.3		0.3		0.3
Assumed conversion of dilutive non-vested restricted stock	0.3		0.3		0.3		0.3
Weighted average shares outstanding - diluted	171.2		176.0		171.2		176.6
Earnings per common share attributable to Wabtec shareholders
Basic	$	1.96	$	1.64	$	3.84	$	3.18
Diluted	$	1.96	$	1.64	$	3.84	$	3.17