Income (Loss) per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Income (Loss) per Share

Income per Share

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

Diluted income 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 are also reflected.

The following table reflects the computation of basic and diluted net income per share for the three months ended March 31, 2020 and 2019:

IN MILLIONS, except per share amounts
	Three Months Ended March 31,
	2020						2019
	Basic			Diluted			Basic			Diluted
Numerator:
Net income	$	14.7		$	14.7		$	89.4		$	89.4
Less: Restricted stock dividends	(0.2		)	(0.2		)	(0.2		)	(0.2		)
Net income available to stockholders	$	14.5		$	14.5		$	89.2		$	89.2
Denominator:
Weighted average common outstanding - basic	114.9			114.9			108.3			108.3
Performance-based restricted stock and units				0.2						0.5
Weighted average shares outstanding - diluted				115.1						108.8
EPS:
Income per share - basic	$	0.13					$	0.82
Effect of dilutive shares:
Income per share - diluted				$	0.13					$	0.82