Earnings per Share

A reconciliation of the numerators and denominators of the basic and diluted per share computation follows.



	Three Months Ended June 30,				Nine Months Ended June 30,
	2018		2017		2018		2017
Basic:
Net income	$	17.5	$	10.2	$	44.4	$	0.8
Weighted average number of common shares outstanding during the period	76,797,414		76,743,853		76,795,551		76,745,396
Net income per common share - basic	$	0.23	$	0.13	$	0.58	$	0.01

Diluted:
Net income	$	17.5	$	10.2	$	44.4	$	0.8
Denominator for diluted earnings per share:
Weighted average number of common shares outstanding during the period	76,797,414		76,743,853		76,795,551		76,745,396
Incremental common shares attributable to outstanding unvested restricted stock and unvested restricted stock units	185,936		85,015		157,207		84,900
Denominator for diluted earnings per common share	76,983,350		76,828,868		76,952,758		76,830,296
Net income per common share - diluted	$	0.23	$	0.13	$	0.58	$	0.01

Dilutive computations during the current period contain additional incremental common shares which are attributable to the outstanding unvested restricted stock awards issued to directors and employees and restricted stock units awards to employees; the outstanding stock options were not included as the result would have been anti-dilutive. During the three and nine months ended June 30, 2017, the outstanding restricted stock awards and restricted stock unit awards were included in the dilutive share calculation. For the three and nine months ended June 30, 2018 and 2017, there were 12,476,250 Founder Shares excluded from the basic and diluted computations because such shares were subject to forfeiture, and PSU awards, 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, 2018 and 2017.