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Loss Per Common Share | 3 Months Ended
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Mar. 31, 2026
Earnings Per Share [Abstract] |
Loss Per Common Share | Loss Per Common Share Basic and diluted loss per common share was calculated as follows:
| For the Three Months Ended March 31, |  |
(dollars and shares in millions, except per share amounts) | 2026 |  | 2025 |  |  |  |
Net loss | $ | (57.6) |  |  | $ | 82.9 |  |  |  |  |
Weighted average common shares outstanding - basic | 64.0 |  |  | 72.5 |  |  |  |  |
Denominator adjustments for diluted EPS: |  |  |  |  |  |  |
Number of stock options and RSUs | — |  |  | 0.2 |  |  |  |  |
Denominator adjustments for diluted EPS: | — |  |  | 0.2 |  |  |  |  |
Diluted weighted average common shares outstanding | 64.0 |  |  | 72.7 |  |  |  |  |
Loss per common share |  |  |  |  |  |  |
Basic | $ | (0.90) |  |  | $ | 1.14 |  |  |  |  |
Diluted | $ | (0.90) |  |  | $ | 1.14 |  |  |  |  |
Treasury shares are not considered outstanding and are excluded from the calculation of basic and diluted loss per common share. The Company reported net losses for the three months ended March 31, 2026 and therefore excluded all stock options and RSUs from the calculation of diluted net loss per common share as their inclusion would have had an anti-dilutive effect, as summarized below:
| For the Three Months Ended March 31,
| 2026 |  |
Stock options | 9.4 |  |  |
RSUs | 4.4 |  |  |
| 13.8 |  |  |

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