XML 20 R10.htm IDEA: XBRL DOCUMENT v3.25.1
Net Income (Loss) from Continuing Operations Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) from Continuing Operations Per Share Income from Continuing Operations Per Share
The following table sets forth the computation of income from continuing operations per share (in millions except per share amounts):
 Three Months Ended March 31,
 20252024
Income from continuing operations$36.9 $18.5 
Series A Preferred Stock dividends(11.1)(11.1)
Income from continuing operations attributable to participating securities(6.4)(1.8)
Income from continuing operations attributable to common stockholders$19.4 $5.6 
Weighted average common shares outstanding107.2 108.3 
Effect of dilutive stock options and restricted stock awards1.4 0.9 
Weighted average common shares outstanding and potential common shares108.6 109.2 
Income from continuing operations per share 
Basic$0.18 $0.05 
Diluted$0.18 $0.05 
The Company includes participating securities (Series A Preferred Stock) in the computation of income from continuing operations per share pursuant to the two-class method. The two-class method of calculating income from continuing operations per share is an allocation method that calculates earnings per share for common stock and participating securities. Under the two-class method, total dividends provided to the holders of the Series A Preferred Stock and undistributed earnings allocated to participating securities are subtracted from income from continuing operations in determining income attributable to common stockholders.
The effect of stock options and restricted stock on income from continuing operations per share-diluted is determined through the application of the treasury stock method, whereby net proceeds received by the Company based on assumed exercises are hypothetically used to repurchase our common stock at the average market price during the period. Stock options that would have an anti-dilutive effect on income from continuing operations per diluted share, unexercisable market options and PRSUs
subject to performance conditions which have not yet been satisfied are excluded from the calculations. No service options and approximately 0.4 million service options were excluded from the calculation of diluted income from continuing operations per share for the three months ended March 31, 2025 and 2024, respectively, and approximately 2.3 million and 3.6 million of the market options were excluded from the calculation for the three months ended March 31, 2025 and 2024, respectively. In addition, approximately 1.1 million and 1.3 million PRSUs were excluded from the calculation of diluted income from continuing operations per share for the three months ended March 31, 2025 and 2024, respectively. Total options outstanding at March 31, 2025 and 2024 were 3.4 million and 4.5 million, respectively.