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Basic and Diluted Income (Loss) Per Common Share (Tables) | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
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,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
(Loss) income from continuing operations |  | $ | (23.7) |  |  | $ | 21.0 |  |  | $ | (66.6) |  |  | $ | (8.9) |
Income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest |  | 1.6 |  |  | (15.3) |  |  | 4.4 |  |  | (12.5) |
(Loss) income from continuing operations attributable to the Company |  | (22.1) |  |  | 5.7 |  |  | (62.2) |  |  | (21.4) |
Less: Preferred dividends, deemed dividends and repurchase gains |  | 0.2 |  |  | 0.4 |  |  | 0.6 |  |  | 0.8 |
(Loss) income from continuing operations attributable to HC2 common stockholders |  | (22.3) |  |  | 5.3 |  |  | (62.8) |  |  | (22.2) |
(Loss) income from discontinued operations |  | (1.5) |  |  | 7.5 |  |  | 50.4 |  |  | (63.6) |
(Loss) income attributable to noncontrolling interest and redeemable noncontrolling interest |  | 0.1 |  |  | (0.1) |  |  | 0.9 |  |  | 15.0 |
(Loss) income from discontinued operations, net of tax and noncontrolling interest |  | (1.4) |  |  | 7.4 |  |  | 51.3 |  |  | (48.6) |
Net (loss) income attributable to common stock and participating preferred stockholders |  | $ | (23.7) |  |  | $ | 12.7 |  |  | $ | (11.5) |  |  | $ | (70.8) |
Earnings allocable to common shares: |  |  |  |  |  |  |  |
Participating shares at end of period: |  |  |  |  |  |  |  |
Weighted-average common stock outstanding |  | 77.0 |  |  | 46.8 |  |  | 77.1 |  |  | 45.9 |
Unvested restricted stock |  |  |  | 0.3 |  |  |  |  |
Preferred stock (as-converted basis) |  |  |  | 2.1 |  |  |  |  |
Total |  | 77.0 |  |  | 49.2 |  |  | 77.1 |  |  | 45.9 |
Percentage of loss allocated to: |  |  |  |  |  |  |  |
Common stock |  | 100.0 | % |  | 95.1 | % |  | 100.0 | % |  | 100.0 | %
Unvested restricted stock |  | — | % |  | 0.6 | % |  | — | % |  | — | %
Preferred stock |  | — | % |  | 4.3 | % |  | — | % |  | — | %
Numerator for earnings per share, basic: |  |  |  |  |  |  |  |
Net (loss) income from continuing operations attributable to common stock, basic |  | $ | (22.3) |  |  | $ | 5.0 |  |  | $ | (62.8) |  |  | $ | (22.2) |
Net (loss) income from discontinued operations attributable to common stock, basic |  | $ | (1.4) |  |  | $ | 7.1 |  |  | $ | 51.3 |  |  | $ | (48.6) |
Net (loss) income attributable to common stock, basic |  | $ | (23.7) |  |  | $ | 12.1 |  |  | $ | (11.5) |  |  | $ | (70.8) |
Earnings allocable to common shares, diluted: |  |  |  |  |  |  |  |
Numerator for earnings per share, diluted |  |  |  |  |  |  |  |
Effect of assumed shares under the if-converted method for convertible instruments |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net (loss) income from continuing operations attributable to common stock, basic |  | $ | (22.3) |  |  | $ | 5.0 |  |  | $ | (62.8) |  |  | $ | (22.2) |
Net (loss) income from discontinued operations attributable to common stock, basic |  | $ | (1.4) |  |  | $ | 7.1 |  |  | $ | 51.3 |  |  | $ | (48.6) |
Net (loss) income attributable to common stock, basic |  | $ | (23.7) |  |  | $ | 12.1 |  |  | $ | (11.5) |  |  | $ | (70.8) |
Denominator for basic and dilutive earnings per share |  |  |  |  |  |  |  |
Weighted average common shares outstanding - basic |  | 77.0 |  |  | 46.8 |  |  | 77.1 |  |  | 45.9 |
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments |  | — |  |  | 2.0 |  |  | — |  |  | — |
Weighted average common shares outstanding - diluted |  | 77.0 |  |  | 48.8 |  |  | 77.1 |  |  | 45.9 |
(Loss) income per share - continuing operations |  |  |  |  |  |  |  |
Basic |  | $ | (0.29) |  |  | $ | 0.11 |  |  | $ | (0.82) |  |  | $ | (0.48) |
Diluted |  | $ | (0.29) |  |  | $ | 0.11 |  |  | $ | (0.82) |  |  | $ | (0.48) |
(Loss) income per share - discontinued operations |  |  |  |  |  |  |  |
Basic |  | $ | (0.02) |  |  | $ | 0.15 |  |  | $ | 0.67 |  |  | $ | (1.06) |
Diluted |  | $ | (0.02) |  |  | $ | 0.14 |  |  | $ | 0.67 |  |  | $ | (1.06) |
(Loss) income per share - Net (loss) income attributable to common stock and participating preferred stockholders |  |  |  |  |  |  |  |
Basic |  | $ | (0.31) |  |  | $ | 0.26 |  |  | $ | (0.15) |  |  | $ | (1.54) |
Diluted |  | $ | (0.31) |  |  | $ | 0.25 |  |  | $ | (0.15) |  |  | $ | (1.54) |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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