Basic and Diluted Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

Calculation of Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share

The following table presents a reconciliation of net income (loss) used in basic and diluted EPS calculations (in millions, except per share amounts):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Net income attributable to common stock and participating preferred stockholders	$	9.0		$	54.7		$	7.4		$	19.0
Earnings allocable to common shares:

Numerator for basic and diluted earnings per share
Participating shares at end of period:
Weighted-average common stock outstanding	45.6			44.2			45.2			44.1
Unvested restricted stock	0.6			0.4			0.5			0.3
Preferred stock (as-converted basis)	2.1			4.8			2.2			4.8
Total	48.3			49.4			47.9			49.2

Percentage of loss allocated to:
Common stock	94.5		%	89.5		%	94.4		%	89.6		%
Unvested restricted stock	1.2		%	0.8		%	1.0		%	0.6		%
Preferred stock	4.3		%	9.7		%	4.6		%	9.8		%

Net Income attributable to common stock, basic	$	8.5		$	48.9		$	7.0		$	17.0

Distributed and Undistributed earnings to Common Shareholders:
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	(1.4		)	0.1			(2.4		)	—
Net Income attributable to common stock, diluted	$	7.1		$	49.0		$	4.6		$	17.0

Denominator for basic and dilutive earnings per share
Weighted average common shares outstanding - basic	45.6			44.2			45.2			44.1
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	12.5			1.3			14.7			1.2
Weighted average common shares outstanding - diluted	58.1			45.5			59.9			45.3

Net income attributable to participating security holders - Basic	$	0.19		$	1.11		$	0.15		$	0.39
Net income attributable to participating security holders - Diluted	$	0.12		$	1.08		$	0.08		$	0.38