Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) Per Common Share

Basic and diluted net income (loss) per common share are calculated as follows (in millions, except share and per share data):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Basic EPS:
Net income (loss)	$	9.2		$	(13.4	)	$	4.2		$	(39.6	)
Less dividends on preferred shares	(5.3		)	(4.8		)	(15.4		)	(14.2		)
Less income allocated to preferred shareholders	(1.9		)	—			—			—
Net income (loss) available/(allocated) to common shareholders - basic	$	2.0		$	(18.2	)	$	(11.2	)	$	(53.8	)
Diluted EPS:
Net income (loss)	$	9.2		$	(13.4	)	$	4.2		$	(39.6	)
Less dividends on preferred shares	(5.3		)	(4.8		)	(15.4		)	(14.2		)
Less income allocated to preferred shareholders	(1.5		)	—			—			—
Net income (loss) available/(allocated) to common shareholders - diluted	$	2.4		$	(18.2	)	$	(11.2	)	$	(53.8	)
Basic weighted-average common shares	112,230,439			109,089,507			111,005,255			107,921,457
Add: Effect of dilutive equity awards	10,465,800			—			—			—
Add: Effect of dilutive warrants	42,926,168			—			—			—
Diluted weighted average common shares	165,622,407			109,089,507			111,005,255			107,921,457
Net income (loss) per common share (basic)	$	0.02		$	(0.17	)	$	(0.10	)	$	(0.50	)
Net income (loss) per common share (diluted)	$	0.01		$	(0.17	)	$	(0.10	)	$	(0.50	)