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Earnings per Share (EPS) (Tables)
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings allocation method utilized in the calculation of basic and diluted EPS
The following illustrates the earnings allocation method utilized in the calculation of basic and diluted EPS.
 
 
Successor
Predecessor
 
 
Three Months Ended March 31, 2018
Three Months Ended March 31, 2017
 
 
 
 
(In millions, except per share data)
EPS numerator:
 
 
 
Income from continuing operations, net of income taxes
 
$
208.3

$
124.3

Less: Series A Convertible Preferred Stock dividends
 
102.5

—

Less: Net (loss) income attributable to noncontrolling interests
 
(2.1
)
4.8

Income from continuing operations attributable to common stockholders, before allocation of earnings to participating securities
 
107.9

119.5

Less: Earnings allocated to participating securities
 
6.0

1.1

Income from continuing operations attributable to common stockholders, after allocation of earnings to participating securities (1)
 
101.9

118.4

Loss from discontinued operations, net of income taxes
 
(1.3
)
(4.1
)
Less: Loss from discontinued operations allocated to participating securities
 
(0.1
)
(0.1
)
Loss from discontinued operations attributable to common stockholders, after allocation of earnings to participating securities
 
(1.2
)
(4.0
)
Net income attributable to common stockholders, after allocation of earnings to participating securities (1)
 
$
100.7

$
114.4

 
 
 
 
EPS denominator:
 
 
 
Weighted average shares outstanding — basic
 
120.9

18.3

Impact of dilutive securities
 
2.3

0.1

Weighted average shares outstanding — diluted (2)
 
123.2

18.4

 
 
 
 
Basic EPS attributable to common stockholders:
 
 
 
Income from continuing operations
 
$
0.84

$
6.46

Loss from discontinued operations
 
(0.01
)
(0.22
)
Net income attributable to common stockholders
 
$
0.83

$
6.24

 
 
 
 
Diluted EPS attributable to common stockholders:
 
 
 
Income from continuing operations
 
$
0.83

$
6.44

Loss from discontinued operations
 
(0.01
)
(0.23
)
Net income attributable to common stockholders
 
$
0.82

$
6.21


(1) 
The reallocation adjustment for participating securities to arrive at the numerator to calculate diluted EPS was $0.1 million for the three months ended March 31, 2018 and less than $0.1 million for the three months ended March 31, 2017.
(2) 
The two-class method assumes that participating securities are not exercised or converted. As such, weighted average diluted shares outstanding excluded 8.4 million shares related to the participating securities for the three months ended March 31, 2018.