Net (Loss) Income Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Calculation of basic and diluted earnings per share

Basic and diluted net (loss) income per share for 2015, 2014 and 2013 were calculated as follows (in millions of dollars, except share and per share amounts):

	Year Ended December 31,
	2015			2014		2013
Numerator:
Net (loss) income	$	(236.6	)	$	71.8	$	104.8
Denominator – Weighted-average common shares outstanding (in thousands):
Basic1	17,201			17,818		18,827
Add: dilutive effect of non-vested common shares, restricted stock units and performance shares	—			179		178
Add: dilutive effect of warrants	—			596		241
Diluted2	17,201			18,593		19,246
Net (loss) income per common share, Basic:	$	(13.76	)	$	4.02	$	5.56
Net (loss) income per common share, Diluted:	$	(13.76	)	$	3.86	$	5.44

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^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 securities excluded from weighted-average diluted shares

The following securities were excluded from the weighted-average diluted shares computation for 2015, 2014 and 2013 as their inclusion would have been anti-dilutive (in thousands of shares):

	Year Ended December 31,
	2015	2014	2013
Options to purchase common shares	—	17	21
Non-vested common shares, restricted stock units and performance shares	302	—	—
Warrants	639	—	—
Total excluded	941	17	21