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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
Basic earnings (loss) per share ("EPS") amounts are calculated by dividing net income (loss) allocated to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive securities.
The following table shows the basic and diluted earnings (loss) per share:
For the three months ended September 30,
20222021
Net Income (Loss)
Shares (in millions)
Per ShareNet Income (Loss)
Shares (in millions)
Per Share
Net income (loss)$44.3 $(52.4)
Less: net income allocated to participating securities2.7 — 
Basic EPS:
Net income (loss) allocated to common stockholders$41.6 91.3 $0.46 $(52.4)90.1 $(0.58)
Effect of Dilutive Securities(1):
Share-based compensation(0.4)1.4 — — 
Convertible senior notes0.7 4.6 — — 
Diluted EPS:
Net income (loss) allocated to common stockholders with assumed conversion$41.9 97.3 $0.43 $(52.4)90.1 $(0.58)
For the nine months ended September 30,
2022
2021
Net Income (Loss)
Shares (in millions)
Per ShareNet Income (Loss)
Shares
(in millions)
Per Share
Net income (loss)$99.4 $(227.5)
Less: net income allocated to participating securities6.0 — 
Basic EPS:
Net income (loss) allocated to common stockholders$93.4 91.3 $1.02 $(227.5)90.1 $(2.52)
Effect of Dilutive Securities:
Share-based compensation(1.2)1.7 — — 
Convertible senior notes2.1 4.6 — — 
Diluted EPS:
Net income (loss) allocated to common stockholders with assumed conversion$94.3 97.6 $0.97 $(227.5)90.1 $(2.52)

Three months ended
September 30,		Nine months ended September 30,
Securities excluded from the calculation of diluted EPS (in millions)(1):
2022202120222021
Share-based compensation— 2.5 — 2.5 
Convertible preferred shares5.8 6.3 5.8 6.3 
Convertible senior notes— 4.8 — 4.8 

(1) In periods when we report a net loss, all share-based compensation awards, convertible preferred shares and convertible senior notes are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on earnings (loss) per share.