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

9 Months Ended

Jun. 30, 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 June 30,					Nine Months Ended June 30,
	2024			2023		2024			2023
Basic Earnings (Loss) per common share
Numerator:
Net income (loss)	$	23.5		$	16.8	$	40.8		$	(24.1	)
Less: dividends on Series A convertible preferred shares		(8.9	)		—		(26.7	)		—
Less: Earnings allocated to Convertible Preferred Shares		(5.3	)		—		(5.1	)		—
Net income (loss) available to common shareholders	$	9.3		$	16.8	$	9.0		$	(24.1	)
Denominator:
Weighted average number of common shares outstanding – basic		94,549,000			93,504,000		94,668,000			93,409,000
Basic earnings (loss) per share	$	0.10		$	0.18	$	0.09		$	(0.26	)
Diluted earnings (loss) per common share
Numerator:
Net income (loss) available to common shareholders – diluted	$	9.3		$	16.8	$	9.0		$	(24.1	)
Denominator:
Weighted average number of common shares outstanding – basic		94,549,000			93,504,000		94,668,000			93,409,000
Dilutive effect of:
Stock compensation awards		2,123,000			497,000		1,133,000			—
Series A convertible preferred stock		—			—		—			—
Weighted average number of common shares outstanding – diluted		96,672,000			94,001,000		95,801,000			93,409,000
Diluted earnings (loss) per share	$	0.10		$	0.18	$	0.09		$	(0.26	)
Other Information:
Weighted average number of anti-dilutive Series A convertible preferred shares, options and restricted stock(a)		55,369,000			4,663,000		57,011,000			4,712,000

(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.