Earnings Per Share

9 Months Ended

Sep. 30, 2016

EARNINGS PER SHARE

The following table sets forth the comparison of basic and diluted earnings (loss) per share:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
Basic earnings (loss) per share:
Net income (loss)	$	68.6	$	(51.6	)	$	296.1	$	82.2
Weighted average common shares outstanding	87,102,290		90,882,511			88,691,983		93,068,088
Basic earnings (loss) per share	$	0.79	$	(0.57	)	$	3.34	$	0.88



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
Diluted earnings (loss) per share:
Net income (loss)	$	68.6	$	(51.6	)	$	296.1	$	82.2
Weighted average common shares outstanding	87,102,290		90,882,511			88,691,983		93,068,088
Share equivalents:
Stock options	819,733		—			832,656		1,071,569
RSUs and performance-based equity awards	656,841		—			570,017		569,276
Employee share purchase plan	24,237		—			18,950		16,047
Weighted average common shares and common share equivalents outstanding - diluted	88,603,101		90,882,511			90,113,606		94,724,980
Diluted earnings (loss) per share	$	0.77	$	(0.57	)	$	3.29	$	0.87

For the three and nine months ended September 30, 2016, there were 224,728 and 231,214, respectively, common share equivalents considered anti-dilutive and therefore excluded from the calculation of diluted earnings per share.

For the three months ended September 30, 2015, there were no common share equivalents included in calculating diluted earnings per share as there was a net loss and any additional shares would be anti-dilutive.

For the nine months ended September 30, 2015, there were no common shares considered anti-dilutive and therefore excluded from the calculation of the diluted earnings per share.