Annual report pursuant to Section 13 and 15(d)

Earnings Per Share of Common Stock

v3.7.0.1
Earnings Per Share of Common Stock
12 Months Ended
Dec. 31, 2016
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.
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
Numerator
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
7.5

 
$
(10.3
)
 
$
9.5

Net earnings (loss) from discontinued operations
 
1.7

 
39.9

 
(40.0
)
Net income (loss)
 
$
9.2

 
$
29.6

 
$
(30.5
)
 
 
 
 
 
 
 
Denominator
 
 
 
 
 
 
Weighted average number of common shares outstanding
 
27,773,434

 
27,738,779

 
27,738,779

Weighted average number of vested shares not yet issued
 
91,903

 

 

Weighted average number of common shares outstanding - Basic
 
27,865,337

 
27,738,779

 
27,738,779

Dilutive stock-based compensation awards outstanding
 
212,147

 

 

Weighted average number of common shares outstanding - Diluted
 
28,077,484

 
27,738,779

 
27,738,779



On April 1, 2016, AWI distributed 27,738,779 shares of AFI's common stock to AWI’s shareholders. Basic and diluted earnings per common share for the years ended December 31, 2015 and 2014 were calculated using the shares distributed on April 1, 2016.

Diluted earnings per share is calculated using net income available to common stockholders divided by the diluted weighted average number of common shares outstanding during each period determined using the treasury stock method.

Performance-based employee compensation awards are considered potentially dilutive in the initial period in which the performance conditions are met. Performance awards representing 646,698 shares for the year ended December 31, 2016 were excluded from the computation of diluted earnings per share as the performance conditions have not yet
been met. Awards representing 201,994 shares for the year ended December 31, 2016 were excluded from the computation of diluted earnings per share calculated under the treasury stock method.