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Loss Per Share (Tables)
 9 Months Ended
Sep. 30, 2017
Loss Per Share  
Computation of Basic and Diluted loss Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

(In millions, except share and per share amounts)

    

2017

    

2016

    

2017

    

2016

  

Loss from continuing operations

 

$

(40.5)

 

$

(10.8)

 

$

(58.0)

 

$

(22.1)

 

Earnings from discontinued operations, net of income taxes

 

 

 —

 

 

 —

 

 

 —

 

 

0.1

 

Net loss

 

 

(40.5)

 

 

(10.8)

 

 

(58.0)

 

 

(22.0)

 

Earnings from continuing operations attributable to noncontrolling interest

 

 

0.3

 

 

0.1

 

 

0.7

 

 

0.5

 

Net loss attributable to Real Industry, Inc.

 

 

(40.8)

 

 

(10.9)

 

 

(58.7)

 

 

(22.5)

 

Dividends on Redeemable Preferred Stock, in-kind

 

 

 —

 

 

(0.5)

 

 

 —

 

 

(1.4)

 

Dividends on Redeemable Preferred Stock, in cash or accrued

 

 

(0.6)

 

 

 —

 

 

(1.7)

 

 

 —

 

Accretion of fair value adjustment to Redeemable Preferred Stock

 

 

(0.2)

 

 

(0.2)

 

 

(0.7)

 

 

(0.8)

 

Numerator for basic and diluted loss per share—Net loss available to common stockholders

 

$

(41.6)

 

$

(11.6)

 

$

(61.1)

 

$

(24.7)

 

Denominator for basic and diluted loss per share—Weighted average shares outstanding

 

 

29,044,480

 

 

29,268,515

 

 

28,945,331

 

 

29,196,598

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(1.43)

 

$

(0.40)

 

$

(2.11)

 

$

(0.85)

 

Discontinued operations

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Basic and diluted loss per share

 

$

(1.43)

 

$

(0.40)

 

$

(2.11)

 

$

(0.85)

 

 

Average Market Price of Common Stock and the Incremental Shares that were Dilutive or Potentially Dilutive

The following tables provide details on the average market price of Real Industry common stock; the outstanding shares of unvested restricted common stock, common stock options, unvested restricted stock units, and Warrants that were potentially dilutive; and summary information about the potentially dilutive common stock equivalents for each of the periods presented:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

 

    

2017

    

2016

    

2017

    

2016

 

Average market price of Real Industry common stock

 

$

2.13

 

$

7.27

 

$

3.26

 

$

7.43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Potentially dilutive common stock equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted common stock

 

 

700,191

 

 

571,676

 

 

700,191

 

 

571,676

 

Outstanding common stock options

 

 

445,100

 

 

748,150

 

 

445,100

 

 

748,150

 

Unvested restricted stock units

 

 

519,835

 

 

354,058

 

 

519,835

 

 

354,058

 

Warrants

 

 

1,448,333

 

 

1,448,333

 

 

1,448,333

 

 

1,448,333

 

Total potentially dilutive common stock equivalents

 

 

3,113,459

 

 

3,122,217

 

 

3,113,459

 

 

3,122,217

 

 

Schedule of Potentially Dilutive Common Stock Awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

(In millions, except exercise prices)

    

2017

    

2016

    

2017

    

2016

 

Average unamortized share-based compensation expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted common stock awards

 

$

3.0

 

$

2.5

 

$

3.3

 

$

2.6

 

Restricted stock unit awards

 

 

0.9

 

 

1.3

 

 

0.9

 

 

1.8

 

Range of exercise prices on common stock options

 

 

$3.00 - $10.00

 

 

$3.00 - $10.00

 

 

$3.00 - $10.00

 

 

$3.00 - $10.00

 

Weighted average exercise price of the Warrants

 

$

5.64

 

$

5.64

 

$

5.64

 

$

5.64