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Income (loss) per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Loss per Share
Income (loss) per Share
Basic income (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 the computation of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2014 and for the three months and the period ended September 30, 2013:
 
 
 
Three Months Ended
 
Three Months Ended
 
Nine months ended
 
Period Ended
 
 
September 30, 2014
 
September 30, 2013
 
September 30, 2014
 
September 30, 2013
(dollars in millions, except per share amount)
 
Basic
 
Diluted
 
Basic
 
Diluted
 
Basic
 
Diluted
 
Basic
 
Diluted
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributed to common shareholders
 
$
0.1

 
$
0.1

 
$
(0.8
)
 
$
(0.8
)
 
$
(0.8
)
 
$
(0.8
)
 
$
(4.0
)
 
$
(4.0
)
Less: Restricted stock dividends
 
(0.2
)
 
(0.2
)
 
(0.2
)
 
(0.2
)
 
(0.7
)
 
(0.6
)
 
(0.5
)
 
(0.5
)
Net loss available to shareholders
 
$
(0.1
)
 
$
(0.1
)
 
$
(1.0
)
 
$
(1.0
)
 
$
(1.5
)

$
(1.4
)
 
$
(4.5
)
 
$
(4.5
)
Denominator:
 
 
 
 
 
 
 
 
 



 
 
 
 
Weighted average common outstanding-basic
 
36.9

 
36.9

 
20.9

 
20.9

 
26.5

 
26.5

 
20.9

 
20.9

Performance-based restricted stock(1)(2)
 
 
 
—

 
 
 
—

 



—

 
 
 
—

Convertible securities(1)(2)
 
 
 
—

 
 
 
—

 



—

 
 
 
—

Weighted average shares outstanding-diluted
 
 
 
36.9

 
 
 
20.9

 



26.5

 
 
 
20.9

EPS:
 
 
 
 
 
 
 
 
 



 
 
 
 
Net income (loss) per share-basic
 
$
—

 
 
 
$
(0.05
)
 
 
 
$
(0.06
)
 
 
 
$
(0.22
)
 
 
Effect of dilutive shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss per share-diluted
 
 
 
$
—

 
 
 
$
(0.05
)
 
 
 
$
(0.06
)
 
 
 
$
(0.22
)
 (1) We have excluded 0.9 million of restricted stock, and 36.9 million of Operating Partnership units, which are securities that became convertible into common stock in January 2014, from our diluted earnings per share as of September 30, 2014, as these securities were deemed anti-dilutive.
 (2) We have excluded 0.2 million of restricted stock, and 42.6 million of Operating Partnership units, which are securities that became convertible into common stock in January 2014, from our diluted earnings per share as of September 30, 2013, as these securities were deemed anti-dilutive.