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Net Income Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period, excluding any unvested restricted stock. In calculating diluted net income per share, the numerator is increased by interest and dividends on potentially dilutive securities, net of tax, and the denominator is increased by the weighted average number of shares resulting from potentially dilutive securities, assuming full conversion. No dilutive effect is recognized in a period in which a net loss has occurred.
 
Three Months Ended
September 30,
 
Nine Months Ended 
 September 30,
(in millions, except per share amounts)
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
Numerator for basic and diluted calculation:
 
 
 
 
 
 
 
Net loss
$
(41.3
)
 
$
(55.1
)
 
$
(58.8
)
 
$
(85.6
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares
9.1

 
9.1

 
9.1

 
9.0

Denominator for basic calculation
9.1

 
9.1

 
9.1

 
9.0

 
 
 
 
 
 
 
 
Weighted average effect of dilutive securities:
 
 
 
 
 
 
 
Stock compensation awards (a)
—

 
—

 
—

 
—

Denominator for diluted calculation
9.1

 
9.1

 
9.1

 
9.0

 
 
 
 
 
 
 
 
Net loss per share - basic and diluted
$
(4.54
)
 
$
(6.05
)
 
$
(6.46
)
 
$
(9.51
)

 
(a)
Compensation awards under the 2014 Equity Incentive Plan resulted in common stock equivalents of less than 0.1 million shares of common stock and are excluded from the diluted calculation as a result of net losses in the three and nine months ended September 30, 2016, and in the three and nine months ended September 30, 2015.

Options to purchase shares of common stock having an exercise price greater than the average share market price are excluded from the calculation of diluted net income (loss) per share:
 
Three Months Ended
September 30,
 
Nine Months Ended 
 September 30,
 
 
2016
 
 
2015
 
2016
 
 
2015
 
Options excluded from diluted net income per share
375,000

 
 
382,500

 
375,000

 
 
382,500

 
Exercise price of excluded options
$
3.90

to
 
$
3.90

to
$
3.90

to
 
$
3.90

to
 
$
5.62

 
 
$
5.62

 
$
5.62

 
 
$
5.62