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Net Loss Per Common Share
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Net Loss Per Common Share
Net Loss Per Common Share
The following table shows the calculation of basic and diluted net loss per common share under the two-class method:
 
 
 
Three Months Ended
March 31,
(In millions, except per share amounts)
 
2018
 
2017
Basic Net Loss Per Common Share:
 
 
 
 
Numerator
 
 
 
 
Net loss
 
$
(200.6
)
 
$
(43.2
)
Distributed and allocated undistributed net (loss) earnings to non-vested restricted stockholders
 
(0.2
)
 
0.1

Distributed and allocated undistributed net loss
 
(200.8
)
 
(43.1
)
Distributed net loss - dividends paid
 
(26.3
)
 
(31.0
)
Allocation of undistributed net loss to common stockholders
 
$
(227.1
)
 
$
(74.1
)
Denominator
 
 
 
 
Weighted average number of common shares outstanding - basic
 
165.3

 
193.4

Basic net earnings per common share:
 
 
 
 
Distributed net earnings
 
$
0.16

 
$
0.16

Allocated undistributed net loss to common stockholders
 
(1.37
)
 
(0.38
)
Basic net loss per common share
 
$
(1.21
)
 
$
(0.22
)
Diluted Net Loss Per Common Share:
 
 
 
 
Numerator
 
 
 
 
Distributed and allocated undistributed net loss
 
$
(200.8
)
 
$
(43.1
)
Add: Allocated undistributed net earnings to unvested restricted stockholders
 
—

 
—

Less: Undistributed net earnings reallocated to non-vested restricted stockholders
 
—

 
—

Net loss available to common stockholders - diluted
 
$
(200.8
)
 
$
(43.1
)
Denominator
 
 
 
 
Weighted average number of common shares outstanding - basic
 
165.3

 
193.4

Effect of contingently issuable shares
 
—

 
0.8

Effect of unvested restricted stock units
 
—

 
0.9

Weighted average number of common shares outstanding - diluted under two-class
 
165.3

 
195.1

Effect of unvested restricted stock - participating security
 
—

 
0.6

Weighted average number of common shares outstanding - diluted under treasury stock
 
165.3

 
195.7

Diluted net loss per common share
 
$
(1.21
)
 
$
(0.22
)