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Loss Per Share (Tables)
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted loss Per Share

The following table sets forth the computation of basic and diluted loss per share for the three and six months ended June 30, 2017 and 2016:

 

(In millions, except share and

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

   per share amounts)

2017

 

 

2016

 

 

2017

 

 

2016

 

Loss from continuing operations

$

(6.2

)

 

$

(1.3

)

 

$

(17.5

)

 

$

(11.3

)

Earnings from discontinued operations, net

   of income taxes

 

—

 

 

 

0.1

 

 

 

—

 

 

 

0.1

 

Net loss

 

(6.2

)

 

 

(1.2

)

 

 

(17.5

)

 

 

(11.2

)

Earnings from continuing operations attributable

   to noncontrolling interest

 

0.3

 

 

 

0.3

 

 

 

0.4

 

 

 

0.4

 

Net loss attributable to Real Industry, Inc.

 

(6.5

)

 

 

(1.5

)

 

 

(17.9

)

 

 

(11.6

)

Dividends on Redeemable Preferred Stock, in-kind

 

—

 

 

 

(0.5

)

 

 

—

 

 

 

(0.9

)

Dividends on Redeemable Preferred Stock, in cash

   or accrued

 

(0.5

)

 

 

—

 

 

 

(1.1

)

 

 

—

 

Accretion of fair value adjustment to Redeemable

   Preferred Stock

 

(0.3

)

 

 

(0.2

)

 

 

(0.5

)

 

 

(0.5

)

Numerator for basic and diluted loss per share—Net

   loss available to common stockholders

$

(7.3

)

 

$

(2.2

)

 

$

(19.5

)

 

$

(13.0

)

Denominator for basic and diluted loss per

   share—Weighted average shares outstanding

 

29,009,854

 

 

 

29,252,343

 

 

 

28,914,533

 

 

 

29,160,245

 

Basic and diluted loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

$

(0.25

)

 

$

(0.08

)

 

$

(0.67

)

 

$

(0.43

)

Discontinued operations

 

—

 

 

 

0.01

 

 

 

—

 

 

 

—

 

Basic and diluted loss per share

$

(0.25

)

 

$

(0.07

)

 

$

(0.67

)

 

$

(0.43

)

 
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 June 30,

 

 

Six Months Ended June 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Average market price of Real Industry common

   stock

$

2.73

 

 

$

8.12

 

 

$

3.82

 

 

$

7.51

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Potentially dilutive common stock equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted common stock

 

737,610

 

 

 

491,286

 

 

 

737,610

 

 

 

491,286

 

Outstanding common stock options

 

445,100

 

 

 

775,650

 

 

 

445,100

 

 

 

775,650

 

Unvested restricted stock units

 

519,835

 

 

 

381,823

 

 

 

519,835

 

 

 

381,823

 

Warrants

 

1,448,333

 

 

 

1,448,333

 

 

 

1,448,333

 

 

 

1,448,333

 

Total potentially dilutive common stock

   equivalents

 

3,150,878

 

 

 

3,097,092

 

 

 

3,150,878

 

 

 

3,097,092

 

 
Schedule of Potentially Dilutive Common Stock Awards

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In millions, except exercise prices)

2017

 

 

2016

 

 

2017

 

 

2016

 

Average unamortized share-based compensation

   expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted common stock awards

$

3.6

 

 

$

3.0

 

 

$

3.4

 

 

$

2.6

 

Restricted stock unit awards

 

1.0

 

 

 

2.1

 

 

 

0.8

 

 

 

2.0

 

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