NET INCOME (LOSS) PER SHARE

Basic net income (loss) per common share is calculated by dividing income (loss) allocable to common stockholders by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income (loss) per common share, the number of shares is increased by the weighted average number of potential shares related to stock compensation awards. No dilutive effect is recognized in a period in which a net loss has occurred.



	Year ended December 31,
(in millions, except per share amounts)	2017		2016

Net income (loss) allocable to common stockholders	$	5.3	$	(67.0	)

Average common shares outstanding - basic	9.1		9.1
Potentially dilutive shares related to stock options^(a)	—		—
Average common shares outstanding - diluted	9.1		9.1

Net income (loss) per common share – basic and diluted	$	0.58	$	(7.36	)

(a) Common stock equivalents related to stock options were less than 0.1 million shares for the year ended December 31, 2017. For the year ended December 31, 2016, common stock equivalents of less than 0.1 million shares are excluded from the diluted calculation as a result of the net loss.

Options outstanding and considered anti-dilutive as their exercise price exceeded the average share market price totaled 0.2 million in 2017 and 0.4 million in 2016.