Loss Per Share

Basic loss per share is calculated using the weighted average number of shares of common stock outstanding during the period. In addition, net loss applicable to participating securities and the related participating securities are excluded from the computation of basic loss per share.

Diluted loss per share is calculated using the weighted average number of shares of common stock outstanding during the period, including restricted stock outstanding. If there is net income during the period, the dilutive impact of common stock equivalents outstanding would also be reflected.

The following table reflects a reconciliation of the shares used in the basic and diluted net loss per share computation for the period ended December 31, 2013:



	Period Ended
	December 31, 2013
(Dollars and shares in millions, except per share amounts)	Basic			Diluted
Numerator:
Net loss attributed to common shareholders	$	(5.3	)	$	(5.3	)
Less: Restricted stock dividends	(0.6		)	(0.6		)
Net loss available to shareholders	$	(5.9	)	$	(5.9	)
Denominator:
Weighted average common outstanding-basic	20.9			20.9
Performance-based restricted stock⁽¹⁾				—
Convertible securities⁽¹⁾				—
Weighted average shares outstanding-diluted				20.9
EPS:
Net loss per share-basic	$	(0.28	)
Effect of dilutive shares				—
Net loss per share-diluted				$	(0.28	)

⁽¹⁾ We have excluded 0.2 million of restricted stock, and 42.6 million of Operating Partnership Units which are securities convertible into common stock in January 2014, from our diluted earnings per share as of December 31, 2013. These amounts were deemed anti-dilutive.