Earnings per share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted EPS under Two-class Method

The computation of basic and diluted EPS under the two-class method were as follows:

	Three months ended June 30					Six months ended June 30
(In millions, except per share amounts)	2020			2019		2020			2019
Numerator:
Basic and diluted:
Net income attributable to controlling interest	$	(174.7	)	$	109.1	$	(99.9	)	$	220.5
Participating share awards with dividend    equivalent rights	-			-		-			-
Net income applicable to common    shareholders		(174.7	)		109.1		(99.9	)		220.5
Earnings allocated to participating    share awards1)		0.0			0.0		0.0			0.0
Net income attributable to common    shareholders	$	(174.7	)	$	109.1	$	(99.9	)	$	220.5
Denominator: 1)
Basic: Weighted average common stock		87.3			87.2		87.3			87.2
Add: Weighted average stock options/    share awards		0.0			0.1		0.0			0.2
Diluted: 2)		87.3			87.3		87.3			87.4
Net (loss) earnings per share - basic	$	(2.00	)	$	1.25	$	(1.14	)	$	2.53
Net (loss) earnings per share - diluted2)	$	(2.00	)	$	1.25	$	(1.14	)	$	2.52

1) The Company’s unvested RSUs and PSUs, of which some included the right to receive non-forfeitable dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.

2) Shares in the diluted loss per share calculation for the three and six month periods ended June 30, 2020 represent basic shares due to the net loss.