XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.2
Net Loss Per Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Net Loss Per Share

10. Net Loss Per Share

Basic net loss per share is computed by dividing distributed and undistributed net loss allocable to common shares by the weighted-average number of common shares outstanding during the applicable period. The basic weighted-average number of common shares outstanding during the period excludes non-vested share-based payment awards. Diluted net loss per share was calculated under the treasury stock method for the quarters and six months ended June 30, 2022 and June 30, 2021, which in both periods was more dilutive than the two-class method.

The following table sets forth the computation of basic and diluted net loss per share (in millions of dollars, except share and per share amounts):

 

 

 

Quarter Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(13.8

)

 

$

(22.4

)

 

$

(5.7

)

 

$

(17.9

)

Denominator – Weighted-average common shares outstanding (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

15,899

 

 

 

15,835

 

 

 

15,883

 

 

 

15,820

 

Add: dilutive effect of non-vested common shares, restricted stock units and performance shares1

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Diluted

 

 

15,899

 

 

 

15,835

 

 

 

15,883

 

 

 

15,820

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share, Basic:

 

$

(0.87

)

 

$

(1.42

)

 

$

(0.36

)

 

$

(1.13

)

Net loss per common share, Diluted:

 

$

(0.87

)

 

$

(1.42

)

 

$

(0.36

)

 

$

(1.13

)

 

1

Quantities in the following discussion are denoted in whole shares. For the quarters ended June 30, 2022 and June 30, 2021 and the six months ended June 30, 2022 and June 30, 2021, approximately 157,000, 226,000, 161,000 and 214,000 shares, respectively, were excluded from the computation of net loss per share as their inclusion would have been anti‑dilutive.