Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Calculation of basic and diluted earnings per share

Basic and diluted net income (loss) per share were calculated as follows, for each period presented (in millions of dollars, except share and per share amounts):



	Quarter Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015			2014
Numerator:
Net income (loss)	$	20.2	$	24.5	$	(272.0	)	$	40.3
Denominator - Weighted-average common shares outstanding (in thousands):
Basic¹	17,006		17,841		17,233			17,889
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares	247		112		—			133
Add: dilutive effect of warrants	939		505		—			490
Diluted²	18,192		18,458		17,233			18,512

Net income (loss) per common share, Basic:	$	1.19	$	1.38	$	(15.78	)	$	2.25
Net income (loss) per common share, Diluted:	$	1.11	$	1.33	$	(15.78	)	$	2.18

______________________


¹	The basic weighted-average number of common shares outstanding during the periods presented excludes non-vested common shares, restricted stock units and performance shares.


²	The diluted weighted-average number of common shares outstanding during the periods presented was calculated using the treasury method.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following securities were excluded from the weighted-average diluted shares computation for the quarters ended June 30, 2015 and June 30, 2014 as their inclusion would have been anti-dilutive (in thousands of shares):



	Quarter Ended		Six Months Ended
	June 30,		June 30,
	2015	2014	2015	2014
Options to purchase common shares	—	21	17	21
Non-vested common shares, restricted stock units and performance shares	—	43	243	28
Warrants	—	—	799	—
Total excluded	—	64	1,059	49