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Earnings Per Share ("EPS")
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share (“EPS”)
Earnings Per Share (“EPS”)
Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during each period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding and the effect of all dilutive common stock equivalents outstanding during each period, as determined using the treasury stock method.
The calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 is set forth in the following table (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss)
$
9.1

 
$
(470.5
)
 
$
29.8

 
$
(440.8
)
 
 
 
 
 
 
 
 
Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Basic weighted average shares outstanding
46.7

 
46.6

 
46.6

 
46.6

Dilutive effect of stock options and restricted share unit awards
0.5

 
—

 
0.4

 
—

Diluted weighted average shares outstanding
47.2

 
46.6

 
47.0

 
46.6

 
 
 
 
 
 
 
 
Earnings (Loss) Per Share
 
 
 
 
 
 
 
Basic
$
0.19

 
$
(10.10
)
 
$
0.64

 
$
(9.46
)
Diluted
$
0.19

 
$
(10.10
)
 
$
0.63

 
$
(9.46
)

Restricted share units (“RSUs”) contain provisions allowing for the equivalent of any dividends paid on common stock during the restricted period to be reinvested into additional RSUs at the then fair market value of the common stock on the date dividends are paid. Such awards are to be included in the EPS calculation under the two-class method. Currently, we do not anticipate paying any cash dividends for the foreseeable future and our outstanding RSU awards are not material in comparison to our weighted average shares outstanding. Accordingly, all EPS amounts reflect shares as if they were fully vested and the disclosures associated with the two-class method are not presented herein.
For the three and nine months ended September 30, 2016, 1.0 million and 1.6 million of potentially dilutive stock options and restricted share units were excluded from the computation of earnings per share as their effect would have been anti-dilutive.