Earnings (Loss) Per Share of Common Stock (Tables)

6 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator for Basic and Diluted Earnings (loss) Per Share Calculation

Set forth below is a reconciliation of the numerator and denominator for basic and diluted (loss) earnings per share calculation for the periods indicated:

	Three Months Ended March 31,						Six Months Ended March 31,
	2024			2023			2024			2023
Basic Earnings (Loss) per common share
Numerator:
Net income (loss)	$	33.7		$	(22.0	)	$	17.3		$	(40.9	)
Less: dividends on Series A convertible preferred shares		(8.9	)		—			(17.8	)		—
Less: Earnings allocated to Convertible Preferred Shares		(9.0	)		—			—			—
Net income (loss) available to common shareholders	$	15.8		$	(22.0	)	$	(0.5	)	$	(40.9	)
Denominator:
Weighted average number of common shares outstanding – basic		94,436,000			93,475,000			94,210,000			93,362,000
Basic earnings (loss) per share	$	0.17		$	(0.23	)	$	(0.01	)	$	(0.44	)
Diluted earnings (loss) per common share
Numerator:
Net income (loss) available to common shareholders – diluted	$	15.8		$	(22.0	)	$	(0.5	)	$	(40.9	)
Denominator:
Weighted average number of common shares outstanding – basic		94,436,000			93,475,000			94,210,000			93,362,000
Dilutive effect of:
Stock compensation awards		1,275,000			—			—			—
Series A convertible preferred stock		—			—			—			—
Weighted average number of common shares outstanding – diluted		95,711,000			93,475,000			94,210,000			93,362,000
Diluted earnings (loss) per share	$	0.17		$	(0.23	)	$	(0.01	)	$	(0.44	)
Other Information:
Weighted average number of anti-dilutive Series A convertible preferred shares, options and restricted stock(a)		55,691,000			5,320,000			57,560,000			5,321,000

(a)Weighted average number of anti-dilutive options is based upon the average closing price of the Company’s common stock on the NYSE for the period.