Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share of Common Stock

v3.7.0.1
Earnings Per Share of Common Stock
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share of Common Stock
EARNINGS PER SHARE OF COMMON STOCK
The table below shows a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated.
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Numerator
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
5.4

 
$
7.0

 
$
(2.4
)
 
$
4.5

Gain on disposal of discontinued operations, net tax

 

 

 
1.7

Net income (loss)
$
5.4

 
$
7.0

 
$
(2.4
)
 
$
6.2

 
 
 
 
 
 
 
 
Denominator
 
 
 
 
 
 
 
Weighted average number of common shares outstanding
27,638,329

 
27,743,714

 
27,779,878

 
27,740,817

Weighted average number of vested shares not yet issued
108,368

 
154,767

 
101,023

 
63,904

Weighted average number of common shares outstanding - Basic
27,746,697

 
27,898,481

 
27,880,901

 
27,804,721

Dilutive stock-based compensation awards outstanding
233,641

 
406,931

 

 
203,465

Weighted average number of common shares outstanding - Diluted
27,980,338

 
28,305,412

 
27,880,901

 
28,008,186



For the three months ended June 30, 2017, and the three and six months ended June 30, 2016, diluted earnings per share was calculated using net income available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period, determined using the treasury stock method. For the six months ended June 30, 2017, the diluted loss per share was calculated using basic common shares outstanding, as inclusion of potentially dilutive common shares would be anti-dilutive.

Performance-based employee compensation awards are considered potentially dilutive in the initial period in which the performance conditions are met.








The following awards were excluded from the computation of diluted earnings per share:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Potentially dilutive common shares excluded from diluted computation, as inclusion would be anti-dilutive
530,321

 
391,353
 
803,432
 
391,353
Performance awards excluded from diluted computation, as performance conditions not met
874,337

 
924,579
 
836,655
 
924,579