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Earnings per Share (EPS) (Tables)
 6 Months Ended
Jun. 30, 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
 
Successor
Predecessor
 
Three Months Ended June 30, 2018
 
April 2 through June 30, 2017
April 1, 2017
 
Six Months Ended June 30, 2018
 
April 2 through June 30, 2017
January 1 through April 1, 2017
 
(In millions, except per share data)
EPS numerator:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net of income taxes
$
120.0

 
$
101.4

$
(319.8
)
 
$
328.3

 
$
101.4

$
(195.5
)
Less: Series A Convertible Preferred Stock dividends
—

 
115.1

—

 
102.5

 
115.1

—

Less: Net income attributable to noncontrolling interests
2.7

 
3.8

—

 
0.6

 
3.8

4.8

Income (loss) from continuing operations attributable to common stockholders, before allocation of earnings to participating securities
117.3

 
(17.5
)
(319.8
)
 
225.2

 
(17.5
)
(200.3
)
Less: Earnings allocated to participating securities
—

 
—

—

 
6.4

 
—

—

Income (loss) from continuing operations attributable to common stockholders, after allocation of earnings to participating securities (1)
117.3

 
(17.5
)
(319.8
)
 
218.8

 
(17.5
)
(200.3
)
Loss from discontinued operations, net of income taxes
(3.6
)
 
(2.7
)
(12.1
)
 
(4.9
)
 
(2.7
)
(16.2
)
Less: Loss from discontinued operations allocated to participating securities
—

 
—

—

 
(0.1
)
 
—

—

Loss from discontinued operations attributable to common stockholders, after allocation of earnings to participating securities
(3.6
)
 
(2.7
)
(12.1
)
 
(4.8
)
 
(2.7
)
(16.2
)
Net income (loss) attributable to common stockholders, after allocation of earnings to participating securities (1)
$
113.7

 
$
(20.2
)
$
(331.9
)
 
$
214.0

 
$
(20.2
)
$
(216.5
)
 
 
 
 
 
 
 
 
 
 
EPS denominator:
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding — basic
124.5

 
96.8

18.3

 
122.7

 
96.8

18.3

Impact of dilutive securities
1.5

 
—

—

 
1.9

 
—

—

Weighted average shares outstanding — diluted (2)
126.0

 
96.8

18.3

 
124.6

 
96.8

18.3

 
 
 
 
 
 
 
 
 
 
Basic EPS attributable to common stockholders:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.94

 
$
(0.18
)
$
(17.44
)
 
$
1.78

 
$
(0.18
)
$
(10.93
)
Loss from discontinued operations
(0.03
)
 
(0.03
)
(0.66
)
 
(0.04
)
 
(0.03
)
(0.88
)
Net income (loss) attributable to common stockholders
$
0.91

 
$
(0.21
)
$
(18.10
)
 
$
1.74

 
$
(0.21
)
$
(11.81
)
 
 
 
 
 
 
 
 
 
 
Diluted EPS attributable to common stockholders:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.93

 
$
(0.18
)
$
(17.44
)
 
$
1.76

 
$
(0.18
)
$
(10.93
)
Loss from discontinued operations
(0.03
)
 
(0.03
)
(0.66
)
 
(0.04
)
 
(0.03
)
(0.88
)
Net income (loss) attributable to common stockholders
$
0.90

 
$
(0.21
)
$
(18.10
)
 
$
1.72

 
$
(0.21
)
$
(11.81
)

(1) 
There was no reallocation adjustment for participating securities to arrive at the numerator to calculate diluted EPS for the three months ended June 30, 2018, due to the conversion of all remaining shares of Preferred Stock as of January 31, 2018. The reallocation adjustment for participating securities to arrive at the numerator to calculate diluted EPS was $0.1 million for the six months ended June 30, 2018.
(2) 
The two-class method assumes that participating securities are not exercised or converted. As such, weighted average diluted shares outstanding excluded 4.2 million shares and 39.2 million shares related to the participating securities for the six months ended June 30, 2018 and the period April 2 through June 30, 2017, respectively