EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2017

Basic and diluted net income (loss) per share are computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted net income (loss) per share reflects the dilutive effect of stock-based compensation.



	Three Months Ended March 31,
	2017		2016
Computation of Income (Loss) per Share	(In millions, except per share data)
Net income (loss)	$	13.4	$	(37.9	)
Basic shares	165.6		165.1
Basic net income (loss) per share	$	0.08	$	(0.23	)
Diluted shares:
Basic shares	165.6		165.1
Stock-based compensation	2.3		—
Diluted shares	167.9		165.1
Diluted net income (loss) per share	$	0.08	$	(0.23	)

The computation of dilutive shares from stock-based compensation does not include 2.4 million shares and 7.0 million shares for the three months ended March 31, 2017 and 2016, respectively, as their effect would have been anti-dilutive.