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Earnings per Common Share | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Earnings per Common Share | Note 10 — Earnings per Common Share The following table sets forth a reconciliation of net income and weighted average shares outstanding (in millions) used in computing basic and diluted net income per common share:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net income (loss) |  | $ | 177.1 |  |  | $ | 48.9 |  |  | $ | (1,643.2 | ) |  | $ | 24.2 |
Less: Net income attributable to noncontrolling interests |  |  | 96.1 |  |  |  | 59.1 |  |  |  | 13.6 |  |  |  | 73.3 |
Less: Dividends on preferred stock |  |  | 32.1 |  |  |  | 31.0 |  |  |  | 64.0 |  |  |  | 61.8 |
Net income (loss) attributable to common shareholders for basic earnings per share |  | $ | 48.9 |  |  | $ | (41.2 | ) |  | $ | (1,720.8 | ) |  | $ | (110.9 | )
Weighted average shares outstanding - basic |  |  | 233.1 |  |  |  | 232.4 |  |  |  | 233.1 |  |  |  | 232.3 |
Net income (loss) available per common share - basic |  | $ | 0.21 |  |  | $ | (0.18 | ) |  | $ | (7.38 | ) |  | $ | (0.48 | )
Weighted average shares outstanding |  |  | 233.1 |  |  |  | 232.4 |  |  |  | 233.1 |  |  |  | 232.3 |
Diluted effect of unvested stock awards |  |  | 0.7 |  |  |  | — |  |  |  | — |  |  |  | — |
Weighted average shares outstanding - diluted |  |  | 233.8 |  |  |  | 232.4 |  |  |  | 233.1 |  |  |  | 232.3 |
Net income (loss) available per common share - diluted |  | $ | 0.21 |  |  | $ | (0.18 | ) |  | $ | (7.38 | ) |  | $ | (0.48 | )
The following potential common stock equivalents are excluded from the determination of diluted earnings per share because the inclusion of such shares would have been anti-dilutive (in millions on a weighted-average basis):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Unvested restricted stock awards |  |  | 3.2 |  |  |  | 1.1 |  |  |  | 0.8 |  |  |  | 1.2 |
Series A Preferred Stock (1) |  |  | 46.5 |  |  |  | 46.5 |  |  |  | 46.5 |  |  |  | 46.5 |
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(1) | The Series A Preferred has no mandatory redemption date, but is redeemable at our election in year six for a 10% premium to the liquidation preference and for a 5% premium to the liquidation preference in year seven thereafter. If the Series A Preferred is not redeemed by the end of year twelve, the investors have the right to convert the Series A Preferred into TRC common stock. |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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