Net (Loss) Income Per Common Share

3 Months Ended

Mar. 31, 2020

The following table presents the calculation of net (loss) income per common share on a basic and diluted basis:


	For the Three Months Ended March 31,
(in millions, except number of shares and per share amounts)	2020		2019
Net (loss) income	$	(18.8)	$	91.2
Weighted average common shares outstanding - basic	34,469,516		33,984,329
Effect of dilutive securities:
Equity compensation awards	—		753,610
Weighted average common shares outstanding - diluted	34,469,516		34,737,939
Net (loss) income per common share:
Basic	$	(0.55)	$	2.68
Diluted	$	(0.55)	$	2.63

Excluded from the weighted average common shares outstanding calculation at March 31, 2020 and 2019 are 11,315,889 shares, which are held as treasury shares. The shares are excluded as of their repurchase date. For the three months ended March 31, 2020, 294,869 shares were not included in the calculation of diluted net income per common share as these instruments were anti-dilutive. For the three months ended March 31, 2019, there were no anti-dilutive shares of common stock to be excluded from the computation of diluted net income per common share.