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Net Income (Loss) Per Common Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share

Note 2 — Net Income (Loss) Per Common Share

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

(In millions, except per share data)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Basic net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

26.8

 

 

$

9.0

 

 

$

89.3

 

 

$

(2.8

)

Weighted average common shares outstanding

 

 

84.4

 

 

 

84.1

 

 

 

84.4

 

 

 

84.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per common share

 

$

0.32

 

 

$

0.11

 

 

$

1.06

 

 

$

(0.03

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

26.8

 

 

$

9.0

 

 

 

89.3

 

 

 

(2.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — Basic

 

 

84.4

 

 

 

84.1

 

 

 

84.4

 

 

 

84.1

 

Plus incremental shares from assumed conversions:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

0.4

 

 

 

0.3

 

 

 

0.4

 

 

 

-

 

Stock options

 

 

0.3

 

 

 

0.3

 

 

 

0.2

 

 

 

-

 

Weighted average common shares outstanding — Dilutive

 

 

85.1

 

 

 

84.7

 

 

 

85.0

 

 

 

84.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per common share

 

$

0.31

 

 

$

0.11

 

 

$

1.05

 

 

$

(0.03

)

 

Total common stock equivalents of 0.6 million and 0.6 million were excluded from the computation of diluted net income per share for the quarter ended September 30, 2022 and 2021, respectively, because to do so would have been anti-dilutive. Total common stock equivalents of 0.7 million and 1.1 million were excluded from the computation of diluted net income (loss) per share for the nine months ended September 30, 2022 and 2021, respectively, because to do so would have been anti-dilutive.