Earnings (Loss) per Common Share

9 Months Ended

Sep. 30, 2021

Earnings (Loss) per Common Share

Earnings (Loss) per Common Share

Note 9. 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 or earnings per share for the periods presented because the Company incurred a net loss from continuing operations and the effect of inclusion would have been anti-dilutive.

	Three months ended				Nine months ended
	September 30,				September 30,
	2021		2020		2021		2020
	(in millions, except share data)
Loss from continuing operations	$	(21.2)	$	(20.3)	$	(66.4)	$	(74.4)
Income from discontinued operations	$	539.1	$	29.3	$	606.3	$	85.7
Net income	$	517.9	$	9.0	$	539.9	$	11.3
Basic weighted-average shares		82,973,519		81,771,279		82,615,949		81,475,814
Effect of dilutive securities:
Restricted stock awards		—		—		—		—
Diluted weighted-average shares		82,973,519		81,771,279		82,615,949		81,475,814
Basic and diluted (loss) per common share - continuing operations
Basic	$	(0.26)	$	(0.28)	$	(0.80)	$	(0.94)
Diluted	$	(0.26)	$	(0.28)	$	(0.80)	$	(0.94)
Basic and diluted earnings per common share - discontinued operations
Basic	$	6.50	$	0.39	$	7.34	$	1.08
Diluted	$	6.50	$	0.39	$	7.34	$	1.08
Basic and diluted earnings per common share
Basic	$	6.24	$	0.11	$	6.54	$	0.14
Diluted	$	6.24	$	0.11	$	6.54	$	0.14