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Income Per Share of Common Stock
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Income Per Share of Common Stock
Income Per Share of Common Stock
A reconciliation of the numerator and denominator used to calculate basic and diluted income per share of common stock ("EPS") is presented in the following table:
 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In millions, except per share amounts)
Numerator:
 
 
 
 
 
 
 
Net income
$
24.3

 
$
5.9

 
$
30.2

 
$
11.0

Income allocated to participating securities
(0.5
)
 
(0.1
)
 
(0.7
)
 
(0.2
)
Net income for basic earnings per share
23.8

 
5.8

 
29.5

 
10.8

Interest on 4 1/16% Convertible Subordinated Debentures (“4 1/16% Debentures”)
—

 
—

 
0.1

 
—

Net income for diluted earnings per share
$
23.8

 
$
5.8

 
$
29.6

 
$
10.8

Denominator:
 
 
 
 
 
 
 
Basic weighted average shares
73.2

 
63.1

 
72.6

 
63.1

Effect of:
 
 
 
 
 
 
 
4 1/16% Debentures
—

 
—

 
0.1

 
—

Employee stock options and stock purchase plan (1)
—

 
0.1

 
—

 
0.1

Diluted weighted average shares
73.2

 
63.2

 
72.7

 
63.2

Basic and Diluted
 
 
 
 
 
 
 
Net income per share
$
0.32

 
$
0.09

 
$
0.41

 
$
0.17


_______
(1) Less than 0.1 million of common share dilution impact from employee stock options and stock purchase plan for the second quarter and first half of fiscal 2017.
The following table sets forth the potentially dilutive securities excluded from the computation because their effect would have been anti-dilutive: 
 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In millions)
4 1/16% Debentures
—

 
9.4

 
—

 
9.4

Total potentially dilutive securities
—

 
9.4

 
—

 
9.4


The Company's 2.25% Convertible Senior Notes ("2 1/4% Notes") were not included in the computation of diluted EPS for the second quarter and first half of fiscal 2017 because the market price of the common stock did not exceed the conversion price and the Company only expects the conversion premium for the 2 1/4% Notes to be settled in common shares.