Common Equity

3 Months Ended

Mar. 31, 2020

Common Equity [Text Block]

Common Equity

Automatic Dividend Reinvestment and Stock Purchase Plan

The Company issued no shares of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan during the three months ended March 31, 2020.  

Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) attributable to the Company by the weighted-average number of the Company's common shares outstanding during the period. In the calculation of diluted earnings (loss) per share, weighted-average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for the Company consist of performance units and restricted stock units. The following table calculates basic and diluted earnings (loss) per share for the Company.

	Three Months Ended March 31,
(In millions except per share data)	2020		2019
Net income (loss)	$	(491.8)	$	47.1
Average common shares outstanding:
Basic average common shares outstanding	200.2		199.9
Effect of dilutive securities:
Contingently issuable shares (performance and restricted stock units)	—		0.6
Diluted average common shares outstanding	200.2		200.5
Basic earnings (loss) per average common share	$	(2.46)	$	0.24
Diluted earnings (loss) per average common share	$	(2.46)	$	0.24
Anti-dilutive shares excluded from earnings per share calculation	—		—