Net Income (Loss) Per Share

12 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

5. Net Income (Loss) Per Share

The following table presents the components and calculations of basic and diluted net income (loss) per share for each period presented (in millions, except per share amounts):

	Year Ended September 30,
	2020			2019			2018
Net income (loss)	$	(80.9	)	$	(10.6	)	$	98.6
Dividends on Preferred Stock		24.0			24.0			18.0
Net income (loss) attributable to common shareholders	$	(104.9	)	$	(34.6	)	$	80.6
Undistributed income allocated to participating securities		—			—			(7.7	)
Net income (loss) attributable to common shareholders - basic and diluted	$	(104.9	)	$	(34.6	)	$	72.9
Weighted-average common shares outstanding - basic		68.8			68.4			68.0
Effect of common share equivalents		—			—			1.2
Weighted-average common shares outstanding - diluted		68.8			68.4			69.2
Net income (loss) per share - basic	$	(1.52	)	$	(0.51	)	$	1.07
Net income (loss) per share - diluted	$	(1.52	)	$	(0.51	)	$	1.05

The following table includes the number of shares that may be dilutive common shares in the future. These shares were not included in the computation of diluted net income (loss) per share because the effect was either anti-dilutive or the requisite performance conditions were not met (in millions):

	Year Ended September 30,
	2020		2019		2018
Stock options		2.0		1.3		0.4
Restricted stock units		0.3		0.1		0.2
Preferred Stock		9.7		9.7		7.2