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(Loss) Earnings per Common Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
(Loss) Earnings per Common Share
(Loss) Earnings per Common Share
Basic (loss) earnings per common share is calculated using the weighted average number of shares outstanding for the period. Diluted (loss) earnings per common share is computed on the basis of the weighted average shares outstanding plus the dilutive effect of our stock-based compensation plans using the “treasury stock” method. Unvested restricted stock and treasury shares are excluded from the calculation of basic weighted average number of common shares outstanding. Once restricted stock vests, it is included in our common shares outstanding.
Potential common shares are excluded from the computation of diluted (loss) earnings per common share when the effect would be anti-dilutive. Stock options are anti-dilutive when the exercise price of these instruments is greater than the average market price of the Company's common stock for the period. All potential common shares are anti-dilutive in periods of net loss available to common shareholders.
The following table sets forth the computation of the weighted average basic and diluted (loss) earnings per share:
 
 
Three Months Ended
 
 
March 31,
(In millions, except for per share amounts)
 
2014
 
2013
Numerator:
 
 
 
 
Loss from continuing operations
 
$
(16.8
)
 
$
(15.6
)
Loss from discontinued operations, net of income taxes
 
(0.7
)
 
(5.5
)
Net loss
 
$
(17.5
)
 
$
(21.1
)
Denominator:
 
 
 
 
Weighted average number of common shares outstanding during the period - basic
 
40.8

 
40.4

Dilutive effect of stock-based compensation plans
 
—

 
—

Weighted average number of diluted shares outstanding during the period - diluted
 
40.8

 
40.4

 
 
 
 
 
Loss per common share — basic
 
 
 
 
Continuing operations
 
$
(0.41
)
 
$
(0.39
)
Discontinued operations
 
(0.02
)
 
(0.14
)
Net loss
 
(0.43
)
 
(0.52
)
Loss per common share — diluted
 
 
 
 
Continuing operations
 
$
(0.41
)
 
$
(0.39
)
Discontinued operations
 
(0.02
)
 
(0.14
)
Net loss
 
(0.43
)
 
(0.52
)
 
 
 
 
 
Anti-dilutive shares excluded from calculation
 
4.3

 
6.5