Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Basic EPS:
Net income (loss)	$	15.1	$	(5.2)	$	33.3	$	(5.0)
Less dividends on preferred shares	(5.6)		(5.1)		(11.0)		(10.1)
Less income allocated to preferred shareholders	(4.7)		—		(11.0)		—
Net income (loss) available/(allocated) to common shareholders - basic	$	4.8	$	(10.3)	$	11.3	$	(15.1)
Diluted EPS:
Net income (loss)	$	15.1	$	(5.2)	$	33.3	$	(5.0)
Less dividends on preferred shares	(5.6)		(5.1)		(11.0)		(10.1)
Less income allocated to preferred shareholders	(3.8)		—		(8.9)		—
Net income (loss) available/(allocated) to common shareholders - diluted	$	5.7	$	(10.3)	$	13.4	$	(15.1)
Basic weighted-average common shares	115,067,552		110,956,014		114,754,298		110,382,509
Add: Effect of dilutive equity awards	10,608,629		—		11,198,960		—
Add: Effect of dilutive warrants	40,211,783		—		41,856,066		—
Diluted weighted average common shares	165,887,964		110,956,014		167,809,324		110,382,509
Net income (loss) per common share (basic)	$	0.04	$	(0.09)	$	0.10	$	(0.14)
Net income (loss) per common share (diluted)	$	0.03	$	(0.09)	$	0.08	$	(0.14)