NET LOSS PER COMMON 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.



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Net loss allocable to common stockholders (in millions)	$	(28.1	)	$	(24.4	)	$	(55.1	)	$	(17.8	)

Shares in thousands:
Average common shares outstanding - basic	9,118			9,077			9,111			9,070
Potentially dilutive shares related to stock options^(a)	—			—			—			—
Average common shares outstanding - diluted	9,118			9,077			9,111			9,070

Net loss per common share (in dollars):
Basic	$	(3.08	)	$	(2.69	)	$	(6.05	)	$	(1.96	)
Diluted	$	(3.08	)	$	(2.69	)	$	(6.05	)	$	(1.96	)


(a)	For the three and six months ended June 30, 2018, common stock equivalents of less than 0.1 million shares are excluded from the diluted calculation as a result of the net loss. For the three and six months ended June 30, 2017, 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, which are considered anti-dilutive if their exercise price exceeds the average share market price, were less than 0.4 million shares for the three and six months ended June 30, 2018 and less than 0.1 million shares for the three and six months ended June 30, 2017.