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Net Income (Loss) Per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per ShareThe Company uses the two-class method to calculate earnings 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. 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 follows (in millions, shares in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Numerator (basic and diluted): |  |  |  |  |  |  |
Net income (loss) |  |  |  |  | $ | (7.7) |  |  | $ | 1.6 |
Less: Dividends paid to participating securities |  |  |  |  | (0.1) |  |  | (0.2) |
Distributed earnings (loss) available to participating securities |  |  |  |  | $ | (7.8) |  |  | $ | 1.4 |
Denominator: |  |  |  |  |  |  |
Average number of common shares outstanding |  |  |  |  | 54,483.0 |  |  | 31,158.0 |
Effect of dilutive stock-based compensation(1) |  |  |  |  | — |  |  | 255.7 |
Average number of common and potential common shares outstanding |  |  |  |  | 54,483.0 |  |  | 31,413.7 |
(1) Diluted loss per share excludes the weighted average potential common shares for the three months ended March 31, 2023 as their inclusion would be anti-dilutive.

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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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