The Company and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Nonvested Restricted Stock Units Granted

The following is a summary of non-vested restricted stock units granted (in thousands, except grant date fair value data):

	Nine-month Period
	Ended September 30, 2017
	Number Granted		Weighted-Average Fair Value
Restricted stock units		61	$	5.75

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following table illustrates the reconciliation of the basic and diluted income (loss) per share computations required by Accounting Standards Codification (ASC) 260-10, “Earnings per Share” (in thousands, except share and per share data):

	Three-Month Period				Nine-Month Period
	Ended September 30,				Ended September 30,
	2017		2016		2017		2016
Basic earnings per share:
Numerator:
Net income	$	157,208	$	5,415	$	163,321	$	13,402

Denominator:
Weighted average common shares outstanding		90,517,492		89,590,135		90,370,679		89,208,732

Per share:
Net income per share	$	1.74	$	0.06	$	1.81	$	0.15

Diluted earnings per share:
Numerator:
Net income	$	157,208	$	5,415	$	163,321	$	13,402

Denominator:
Weighted average common shares outstanding		90,517,492		89,590,135		90,370,679		89,208,732
Dilutive securities:
Stock options and restricted stock units		1,643,616		1,899,840		1,615,267		1,980,226
Diluted shares outstanding		92,161,108		91,489,975		91,985,946		91,188,958

Per share:
Net income per share	$	1.71	$	0.06	$	1.78	$	0.15

Margin for Revolving Loans

(ii) thereafter, the Applicable Margin for the Revolving Loans shall equal the applicable LIBOR margin or Base Rate margin in effect from time to time determined as set forth below based upon the applicable First Lien Net Leverage Ratio then in effect pursuant to the appropriate column under the table below:

First Lien Net Leverage Ratio	LIBOR Margin			Base Rate Margin
≥ 4.50 to 1.00		2.50	%		1.50	%
< 4.50 to 1.00		2.25	%		1.25	%

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets (in millions):

	September 30, 2017
	Total Fair Value and Carrying Value on Balance Sheet		Fair Value Measurement Category
			Level 1		Level 2		Level 3
Liabilities:
Interest rate swap	$	2.7	$	-	$	2.7	$	-

	December 31, 2016
	Total Fair Value and Carrying Value on Balance Sheet		Fair Value Measurement Category
			Level 1		Level 2		Level 3
Liabilities:
Interest rate swap	$	4.8	$	-	$	4.8	$	-

Summary of Components of AOCI

Accumulated other comprehensive income (loss) includes foreign currency translation adjustments from those subsidiaries not using the U.S. dollar as their functional currency and the cumulative gains and losses of derivative instruments that qualify as cash flow hedges. The following table provides a roll-forward of accumulated other comprehensive income (loss) for the nine-month periods ended September 30, 2017 and 2016 (in millions):

	2017			2016
Accumulated other comprehensive loss as of January 1,	$	(3.0	)	$	(4.1	)
Foreign currency translation (gain) loss	$	0.1		$	-
Change in fair value of interest rate swap agreements	$	2.1		$	0.1
Income tax (expense) benefit	$	(0.8	)	$	-
Other comprehensive income (loss), net of tax	$	1.4		$	0.1
Accumulated other comprehensive loss as of September 30,	$	(1.6	)	$	(4.0	)

Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of such amounts in the consolidated statements of cash flows:

		September 30, 2017		December 31, 2016
Cash and cash equivalents	$	56.0	$	61.5
Restricted Cash	$	231.1	$	-
Cash, cash equivalents and restricted shown in the consolidated statements of cash flows	$	287.1	$	61.5