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Earnings (Loss) Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share for the years ended December 31, 2015, 2014 and 2013:

 

(In millions, except share

Year Ended December 31,

 

and per share amounts)

2015

 

 

2014

 

 

2013

 

Loss from continuing operations

$

(31.7

)

 

$

(0.1

)

 

$

(14.2

)

Earnings from discontinued operations, net of income taxes

 

24.9

 

 

 

5.5

 

 

 

4.2

 

Net earnings (loss)

 

(6.8

)

 

 

5.4

 

 

 

(10.0

)

Earnings (loss) from continuing operations attributable to

   noncontrolling interest

 

0.1

 

 

 

(0.1

)

 

 

—

 

Net earnings (loss) attributable to Real Industry, Inc.

 

(6.9

)

 

 

5.5

 

 

 

(10.0

)

Dividends and accretion on Redeemable Preferred Stock

 

(2.3

)

 

 

—

 

 

 

—

 

Numerator for basic and diluted earnings (loss) per share—

   Net earnings (loss) available to common stockholders

$

(9.2

)

 

$

5.5

 

 

$

(10.0

)

Denominator for basic and diluted earnings (loss) per share—

   Weighted average shares outstanding

 

26,657,832

 

 

 

13,403,083

 

 

 

12,836,071

 

Basic and diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

(1.28

)

 

$

—

 

 

$

(1.11

)

Discontinued operations

 

0.93

 

 

 

0.41

 

 

 

0.32

 

Basic and diluted earnings (loss) per share

$

(0.35

)

 

$

0.41

 

 

$

(0.79

)

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

The following table provides details on the average market price of Real Industry common stock and the weighted average number of outstanding shares of unvested restricted common stock, common stock options, unvested performance shares and Warrants that were potentially dilutive for each of the periods presented:

 

 

Year Ended December 31,

 

 

2015

 

 

2014

 

 

2013

 

Average market price of Real Industry common stock

$

9.22

 

 

$

9.58

 

 

$

8.57

 

Potentially dilutive common stock equivalents:

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted common stock

 

234,109

 

 

 

106,001

 

 

 

331,660

 

Common stock options

 

710,555

 

 

 

1,041,673

 

 

 

1,033,484

 

Unvested performance shares

 

152,438

 

 

 

—

 

 

 

—

 

Warrants

 

1,485,941

 

 

 

1,500,000

 

 

 

1,500,000

 

Total potentially dilutive common stock equivalents

 

2,583,043

 

 

 

2,647,674

 

 

 

2,865,144

 

 
Schedule of Potentially Dilutive Common Stock Awards

 

The following table provides summary information about the potentially dilutive common stock equivalents:

 

 

Year Ended December 31,

 

(In millions, except exercise prices)

2015

 

 

2014

 

 

2013

 

Average unamortized share-based compensation expense:

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted common stock awards

$

1.3

 

 

$

0.6

 

 

$

0.7

 

Unvested common stock options

 

—

 

 

 

0.1

 

 

 

0.7

 

Unvested performance share awards

 

1.0

 

 

 

—

 

 

 

—

 

Range of exercise prices on common stock options

$ 3.00 - $ 10.00

 

 

$ 3.00 - $ 10.00

 

 

$ 3.00 - $ 10.00

 

Weighted average exercise price of the Warrants

$

5.73

 

 

$

6.66

 

 

$

6.68