Earnings per Common Share

6 Months Ended

Jun. 30, 2014

Earnings per Common Share

2. Earnings per Common Share

Earnings per share (“EPS”) is computed under the two-class method using the following common share information:

	Quarter Ended June 30,						Six Months Ended June 30,
	2014			2013			2014		2013
(dollars and shares in millions)
EPS Numerator:
Net (loss) income	$	(119.4	)	$	(161.6	)	$	29.0	$	(70.9	)
Less: Income allocated to participating securities		—			—			0.4		—
Net (loss) income available to common shareholders	$	(119.4	)	$	(161.6	)	$	28.6	$	(70.9	)
EPS Denominator:
Weighted average common shares outstanding		75.1			79.8			76.0		80.6
Dilutive common share equivalents from share-based compensation plans		—			—			1.5		—
Weighted average common and common equivalent shares outstanding, assuming dilution		75.1			79.8			77.5		80.6

For the quarter ended June 30, 2014, approximately 1.5 million common share equivalents were not included in the computation of diluted weighted average shares outstanding. For both the quarter and six months ended June 30, 2013, approximately 1.3 million common share equivalents were not included in the computation of diluted weighted average shares outstanding. Common share equivalents primarily from share-based compensation plans were not included in each of these periods because their effect would have been anti-dilutive.