(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2019

Basic and diluted earnings per share are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for purposes of determining diluted earnings per share, assumes the issuance of all potentially dilutive share equivalents using the if-converted or treasury stock method.

A computation of (loss) earnings per share from continuing operations and weighted average shares of the Company's common stock outstanding for the three and nine months ended September 30, 2019 and 2018 is as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
(dollars in millions, except per share amounts)	2019		2018		2019		2018
Net (loss) income from continuing operations	$	(6.0)	$	(4.3)	$	5.2	$	(62.8)
Net income attributable to the non-controlling interests	—		(2.0)		(0.6)		(2.7)
Net (loss) income from continuing operations attributable to common stockholders	$	(6.0)	$	(6.3)	$	4.6	$	(65.5)






Basic weighted average common shares outstanding	254.4		288.2		259.9		288.1
Denominator adjustments for diluted EPS:
Number of shares issuable upon conversion of founder preferred stock	—		—		2.0		—


Number of stock options, RSUs and shares issued through ESPP	—		—		0.5		—
Denominator adjustments for diluted EPS	—		—		2.5		—
Diluted weighted average common shares outstanding	254.4		288.2		262.4		288.1

(Loss) earnings per share from continuing operations attributable to common stockholders:
Basic	$	(0.02)	$	(0.02)	$	0.02	$	(0.23)
Diluted	$	(0.02)	$	(0.02)	$	0.02	$	(0.23)

For the three and nine months ended September 30, 2019 and 2018, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive or because performance targets were not yet achieved for RSUs contingent upon performance:


	Three Months Ended September 30,			Nine Months Ended September 30,
(shares in millions)	2019	2018	2019	2018
Shares issuable for the contingent consideration	4.9	6.9	4.9	7.7
Shares issuable upon conversion of Series A Preferred Stock	2.0	2.0	—	2.0
Shares issuable upon vesting of RSUs and exercise of stock options	5.0	2.2	4.3	1.6
Shares issuable upon conversion of the shares of common stock of PDH	—	4.1	—	4.2

Total	11.9	15.2	9.2	15.5