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Net Income/(Loss) Per Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Net Income/(Loss) Per Share | Net Income/(Loss) Per Share The Company uses the two-class method to calculate earnings/(loss) per share. The Company has granted restricted stock that contains non-forfeitable rights to dividends on unvested shares. Since these unvested shares are considered participating securities under the two-class method, the Company allocates earnings/(loss) per share to common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Diluted net income per common share is computed based on Net income divided by the weighted average number of common and potential common shares outstanding. Potential common shares during the respective periods are those related to dilutive stock-based compensation, including long-term stock-based incentive compensation and directors’ accumulated deferred stock compensation, which may be received by the directors in the form of stock or cash. Diluted loss per share excludes the weighted average potential common shares as their inclusion would be anti-dilutive. The following table is a reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income/(loss) per share (in millions, shares in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Numerator (basic and diluted): |  |  |  |  |  |  |
Net income/(loss) | $ | (22.5) |  |  | $ | 12.2 |  |  | $ | (9.1) |  |  | $ | 35.6 |
Less: Dividends paid to participating securities | (0.2) |  |  | (0.2) |  |  | (0.7) |  |  | (0.5) |
Undistributed and distributed earnings/(loss) available to common stockholders | $ | (22.7) |  |  | $ | 12.0 |  |  | $ | (9.8) |  |  | $ | 35.1 |
Denominator: |  |  |  |  |  |  |
Average number of common shares outstanding | 52,593.9 |  |  | 31,046.1 |  |  | 38,415.9 |  |  | 31,022.1 |
Effect of dilutive stock-based compensation | — |  |  | 354.9 |  |  | — |  |  | 359.5 |
Average number of common and potential common shares outstanding | 52,593.9 |  |  | 31,401.0 |  |  | 38,415.9 |  |  | 31,381.6 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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