Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share of Common Stock

v3.19.3
Earnings (Loss) Per Share of Common Stock
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share of Common Stock EARNINGS (LOSS) PER SHARE OF COMMON STOCK
Earnings per share components may not add due to rounding.
The table below shows a reconciliation of the numerator and denominator for basic and diluted earnings (loss) per share calculations for the periods indicated.
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Numerator
 
 
 
 
 
 
 
Net (loss) earnings from continuing operations
$
(29.7
)
 
$
3.3

 
$
(41.0
)
 
$
(4.2
)
  Net (loss) earnings from discontinued operations
(1.7
)
 
4.6

 
7.6

 
12.2

Net (loss) earnings
$
(31.4
)
 
$
7.9

 
$
(33.4
)
 
$
8.0

 
 
 
 
 
 
 
 
Denominator
 
 
 
 
 
 
 
Weighted average number of common shares outstanding
21,496,319

 
25,793,019

 
24,300,804

 
25,763,550

Weighted average number of vested shares not yet issued
401,402

 
202,761

 
552,198

 
182,091

Weighted average number of common shares outstanding - Basic
21,897,721

 
25,995,780

 
24,853,002

 
25,945,641

Dilutive impact of stock-based compensation plans

 
187,067

 

 
128,635

Weighted average number of common shares outstanding - Diluted
21,897,721

 
26,182,847

 
24,853,002

 
26,074,276



For the three and nine months ended September 30, 2018, the 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 three and nine months ended September 30, 2019 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 (loss) per share:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Potentially dilutive common shares excluded from diluted computation, as inclusion would be anti-dilutive
753,898

 
111,556

 
535,111

 
514,910
Performance awards excluded from diluted computation, as performance conditions not met
330,392

 
1,003,486

 
394,632

 
1,021,883