Earnings (Loss) per Common Share

12 Months Ended

Dec. 31, 2020

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

15. 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.  No such items were included in the computation of diluted loss per share for the year ended December 31, 2018 because the Company incurred a net loss in the period and the effect of inclusion would have been anti-dilutive.

	Year ended
	December 31,
	2020		2019		2018
Net income (loss)	$	14.4	$	36.4	$	(87.3)
Basic weighted-average shares		81,561,707		80,713,926		81,808,425
Effect of dilutive securities:
Restricted stock awards		1,253,103		475,236		—
Diluted weighted-average shares		82,814,810		81,189,162		81,808,425
Basic earnings (loss) per share	$	0.18	$	0.45	$	(1.07)
Diluted earnings (loss) per share	$	0.17	$	0.45	$	(1.07)

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 December 31, 2020, the Company determined the performance condition was not met; however, the market condition was partially achieved. Therefore, the contingently issuable performance shares associated with the market condition were included in the computation of diluted earnings per share.