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

6 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator for Basic and Diluted (Loss) Earnings 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,
	2025			2024			2025			2024
Basic (Loss) per common share
Numerator:
Net income (loss)	$	6.4		$	33.7		$	(4.0	)	$	17.3
Less: Dividends on Series A convertible preferred shares		(8.8	)		(8.9	)		(17.8	)		(17.8	)
Less: Earnings allocated to Convertible Preferred Shares		—			(9.0	)		—			—
Net (loss) income available to common shareholders	$	(2.4	)	$	15.8		$	(21.8	)	$	(0.5	)
Denominator:
Weighted average number of common shares outstanding – basic		95,516,000			94,436,000			95,339,000			94,210,000
Basic (loss) earnings per share	$	(0.03	)	$	0.17		$	(0.23	)	$	(0.01	)
Diluted (loss) per common share
Numerator:
Net (loss) available to common shareholders – diluted	$	(2.4	)	$	15.8		$	(21.8	)	$	(0.5	)
Denominator:
Weighted average number of common shares outstanding – basic		95,516,000			94,436,000			95,339,000			94,210,000
Dilutive effect of:
Stock compensation awards		—			1,275,000			—			—
Series A convertible preferred stock		—			—			—			—
Weighted average number of common shares outstanding – diluted		95,516,000			95,711,000			95,339,000			94,210,000
Diluted (loss) earnings per share	$	(0.03	)	$	0.17		$	(0.23	)	$	(0.01	)
Other Information:
Weighted average number of anti-dilutive Series A convertible preferred shares, options and restricted stock(a)		59,709,000			55,691,000			59,607,000			57,560,000

(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.