XML 58 R47.htm IDEA: XBRL DOCUMENT v3.19.2
Net Earnings (Loss) Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Net Earnings Per Common Share
The following table shows the calculation of basic and diluted net earnings (loss) per common share under the two-class method: 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(In millions, except per share amounts)
 
2019
 
2018
 
2019
 
2018
Basic Net Earnings (Loss) Per Common Share:
 
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
 
Net earnings (loss)
 
$
33.2

 
$
114.4

 
$
90.7

 
$
(86.2
)
Distributed and allocated undistributed net earnings to unvested restricted stockholders
 
(0.1
)
 
(0.6
)
 
(0.2
)
 
(0.3
)
Distributed and allocated undistributed net earnings (loss)
 
33.1

 
113.8

 
90.5

 
(86.5
)
Distributed net earnings - dividends paid to common stockholders
 
(24.6
)
 
(25.5
)
 
(49.4
)
 
(51.9
)
Allocation of undistributed net earnings (loss) to common stockholders
 
$
8.5

 
$
88.3

 
$
41.1

 
$
(138.4
)
Denominator:
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic
 
154.5

 
159.7

 
154.6

 
162.5

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

 
$
0.16

 
$
0.32

 
$
0.32

Allocated undistributed net earnings (loss) to common stockholders
 
0.06

 
0.55

 
0.27

 
(0.85
)
Basic net earnings (loss) per common share
 
$
0.22

 
$
0.71

 
$
0.59

 
$
(0.53
)
Diluted Net Earnings (Loss) Per Common Share:
 
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
 
Distributed and allocated undistributed net earnings (loss)
 
$
33.1

 
$
113.8

 
$
90.5

 
$
(86.5
)
Add: Allocated undistributed net earnings to unvested restricted stockholders
 
—

 
0.4

 
0.1

 
—

Less: Undistributed net earnings reallocated to unvested restricted stockholders
 
—

 
(0.4
)
 
(0.1
)
 
—

Net earnings (loss) available to common stockholders - diluted
 
$
33.1

 
$
113.8

 
$
90.5

 
$
(86.5
)
Denominator:
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic
 
154.5

 
159.7

 
154.6

 
162.5

Effect of contingently issuable shares
 
0.3

 
0.1

 
0.2

 
—

Effect of unvested restricted stock units
 
0.2

 
0.4

 
0.2

 
—

Weighted average number of common shares outstanding - diluted under two-class
 
155.0

 
160.2

 
155.0

 
162.5

Effect of unvested restricted stock - participating security
 
0.3

 
0.4

 
0.3

 
—

Weighted average number of common shares outstanding - diluted under treasury stock
 
155.3

 
160.6

 
155.3

 
162.5

Diluted net earnings (loss) per common share
 
$
0.21

 
$
0.71

 
$
0.58

 
$
(0.53
)