Earnings (Loss) per Common Share

9 Months Ended

Sep. 30, 2020

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

Note 8. Earnings (Loss) per Common Share

Basic earnings or loss per share attributable to the Company’s common stockholders is computed by dividing net earnings or loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings or loss per share attributable to common stockholders presents the dilutive effect, if any, on a per share basis of potential common shares (such as restricted stock units) as if they had been vested or converted during the periods presented.  

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
	(in millions, except share data)
Net income	$	9.0	$	11.4	$	11.3	$	29.5
Basic weighted-average shares		81,771,279		80,885,244		81,475,814		80,639,099
Effect of dilutive securities:
Restricted stock awards		1,258,777		219,661		1,057,473		425,589
Diluted weighted-average shares		83,030,056		81,104,905		82,533,287		81,064,688
Basic earnings per share	$	0.11	$	0.14	$	0.14	$	0.37
Diluted earnings per share	$	0.11	$	0.14	$	0.14	$	0.36

The dilutive effect of the potential common shares from the performance shares is included in diluted earnings per share upon the satisfaction of certain performance and market conditions. These conditions are evaluated at each reporting period and if the conditions have been satisfied during the reporting period, the number of contingently issuable shares are included in the computation of diluted earnings per share. As of September 30, 2020, the Company determined the performance and market conditions were not met, therefore, none of the contingently issuable performance shares were included in the computation of diluted earnings per share.