Earnings per Share

A reconciliation of the numerators and denominators of the basic and diluted per share computation follows. No such computation is necessary for the Predecessor period as the Predecessor was organized as a limited liability company and did not have publicly traded common shares.



	Three Months Ended June 30, 2017		Nine Months Ended June 30, 2017		Three Months Ended June 30, 2016*			Nine Months Ended June 30, 2016*
Basic:
Net income (loss)	$	10.2	$	0.8	$	(15.5	)	$	(17.1	)
Weighted average number of common shares outstanding during the period	76,743,853		76,745,396		34,072,056			21,241,897
Net income (loss) per common share - basic	$	0.13	$	0.01	$	(0.45	)	$	(0.81	)

Diluted:
Net income (loss)	$	10.2	$	0.8	$	(15.5	)	$	(17.1	)
Denominator for diluted earnings per share:
Weighted average number of common shares outstanding during the period	76,743,853		76,745,396		34,072,056			21,241,897
Incremental common shares attributable to outstanding unvested restricted stock and unvested restricted stock units	85,015		84,900		—			—
Denominator for diluted earnings per common share	76,828,868		76,830,296		34,072,056			21,241,897
Net income (loss) per common share - diluted	$	0.13	$	0.01	$	(0.45	)	$	(0.81	)

^{*The three and nine months ended June 30, 2016 include}^{22 days}^{of the acquired business’ operating activities as a result of the consummation of the Business Combination on June 9, 2016.}

For the three and nine months ended June 30, 2017 and 2016, there were 12,476,250 Founder Shares excluded from the basic and diluted computations because such shares were subject to forfeiture and 1,567,000 and 1,547,500 PSU awards, respectively, which were not included in the computation of diluted shares outstanding because performance targets and/or market conditions were not yet met for these awards. Diluted shares outstanding also did not include 25,012,500 shares of common stock issuable on the exercise of 50,025,000 warrants because the warrants were out-of-the-money for the three and nine months ended June 30, 2017 and 2016. As of the three and nine months ended June 30, 2017, the 59,199 shares of unvested restricted stock awards issued to directors and 24,500 shares of restricted stock units awarded to employees were included in the diluted share calculation. There were no restricted stock units or restricted stock awards as of the three or nine months ended June 30, 2016.