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Quarterly Results of Operations (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
(in millions, except per common share data)
For the Year Ended December 31, 2017
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter(a)
Net revenues
$
167.5

 
$
339.3

 
$
196.9

 
$
178.9

Operating income (loss)
8.4

 
123.3

 
26.8

 
(12.8
)
Income from continuing operations, net of tax
2.2

 
72.9

 
12.9

 
34.4

Income from discontinued operations, net of tax
5.1

 
5.4

 
3.8

 
3.8

 
 
 
 
 
 
 
 
Net income per common share - basic (c):
 
 
 
 
 
 
 
Continuing operations
$
0.13

 
$
4.52

 
$
0.85

 
$
2.25

Discontinued operations
0.31

 
0.34

 
0.24

 
0.25

Net income per common share - basic
$
0.44

 
$
4.86

 
$
1.09

 
$
2.50

 
 
 
 
 
 
 
 
Net income per common share - diluted (c):
 
 
 
 
 
 
 
Continuing operations
$
0.13

 
$
4.47

 
$
0.84

 
$
2.22

Discontinued operations
0.31

 
0.34

 
0.24

 
0.24

Net income per common share - diluted
$
0.44

 
$
4.81

 
$
1.08

 
$
2.46

(in millions, except per common share data)
For the Year Ended December 31, 2016
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter(b)
Net revenues
$
166.3

 
$
313.3

 
$
181.0

 
$
161.8

Operating income
12.5

 
113.6

 
14.0

 
32.4

Income from continuing operations, net of tax
7.1

 
66.8

 
3.4

 
19.4

(Loss) income from discontinued operations, net of tax
(4.3
)
 
3.0

 
5.3

 
7.4

 
 
 
 
 
 
 
 
Net income (loss) per common share - basic (c):
 
 
 
 
 
 
 
Continuing operations
$
0.43

 
$
3.97

 
$
0.20

 
$
1.17

Discontinued operations
(0.26
)
 
0.19

 
0.32

 
0.45

Net income per common share - basic
$
0.17

 
$
4.16

 
$
0.52

 
$
1.62

 
 
 
 
 
 
 
 
Net income (loss) per common share - diluted (c):
 
 
 
 
 
 
 
Continuing operations
$
0.42

 
$
3.93

 
$
0.20

 
$
1.16

Discontinued operations
(0.26
)
 
0.18

 
0.32

 
0.44

Net income per common share - diluted
$
0.16

 
$
4.11

 
$
0.52

 
$
1.60


(a) Fourth quarter of 2017 includes a $21.7 million impairment of tangible and intangible assets and a $20.7 million loss on extinguishment of debt. Additionally, fourth quarter of 2017 includes a $57.7 million income tax benefit resulting primarily from the re-measurement of our net deferred tax liabilities as a result of the Tax Act.
(b) Fourth quarter of 2016 includes a $23.7 million gain on Calder land sale.
(c) Net income (loss) per common share calculations for each quarter are based on the weighted average number of shares outstanding during the respective period. Accordingly, the sum of the quarters may not equal the full-year income (loss) per share.