Net (Loss) Income Per Common Share

12 Months Ended

Dec. 31, 2021

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


	For the Years Ended December 31,
(in millions, except number of shares and per share amounts)	2021		2020		2019
Net income (loss)	$	6.7	$	(54.1)	$	(14.1)
Less: Preferred share dividends	10.5		4.6		—
Net loss attributable to common shareholders	(3.8)		(58.7)		(14.1)
Weighted average common shares outstanding - basic	34,816,160		34,614,813		34,205,954
Effect of dilutive securities:
Equity compensation awards	—		—		—
Weighted average common shares outstanding - diluted	34,816,160		34,614,813		34,205,954
Net income (loss) per common share:
Basic	$	(0.11)	$	(1.70)	$	(0.41)
Diluted	$	(0.11)	$	(1.70)	$	(0.41)

Excluded from the weighted average common shares outstanding calculation are 11,315,889 shares, which are held as treasury shares, at December 31, 2021, 2020 and 2019, respectively. The shares are excluded as of their repurchase date. Due to the net losses incurred during the years ended December 31, 2021, 2020 and 2019, the potentially dilutive securities that were anti-dilutive, and therefore, omitted from the calculation were 208,524, 197,035, and 587,462 shares, respectively.