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BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share, Basic and Diluted [Abstract]  
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
Shares used in basic earnings (loss) per share are computed using the weighted average number of common shares outstanding during each period. Shares used in diluted earnings (loss) per share include the dilutive effect of unvested restricted stock and outstanding stock options under the Company’s Stock Plan using the treasury stock method. For 2013 and 2012 all outstanding options to purchase shares of Class A Common Stock that could potentially dilute basic earnings (loss) per common share in the future were excluded from the calculation of diluted earnings (loss) per common share, as their effect would have been anti-dilutive, as in each case their exercise price was in excess of the average NYSE closing price of the Class A Common Stock for these periods. At December 31, 2014, there were no outstanding stock options under the Company's Stock Plan.
For each of 2013 and 2012, 20,437 and 3,354 weighted average shares, respectively of unvested restricted stock awards were excluded from the computation of diluted earnings (loss) per common share because their effect would have been anti-dilutive. No unvested restricted stock awards were excluded from the computation of diluted earnings (loss) per common share at December 31, 2014.







The components of basic and diluted earnings per common share for each of 2014, 2013 and 2012 are as follows:
 
Years Ended December 31,
 
2014
 
2013
 
2012
Numerator:
 
 
 
 
 
Income from continuing operations, net of taxes
$
39.6

 
$
24.6

 
$
61.2

Income (loss) from discontinued operations, net of taxes
1.3

 
(30.4
)
 
(10.1
)
Net income
$
40.9

 
$
(5.8
)
 
$
51.1

Denominator:
 
 
 
 
 
Weighted average common shares outstanding – Basic
52,359,897

 
52,356,798

 
52,348,636

Effect of dilutive restricted stock
64,042

 
931

 
8,246

Weighted average common shares outstanding – Diluted
52,423,939

 
52,357,729

 
52,356,882

Basic earnings (loss) per common share:
 
 
 
 
 
Continuing operations
$
0.76

 
$
0.47

 
$
1.17

Discontinued operations
0.02

 
(0.58
)
 
(0.19
)
Net income
$
0.78

 
$
(0.11
)
 
$
0.98

Diluted earnings (loss) per common share:
 
 
 
 
 
Continuing operations
$
0.76

 
$
0.47

 
$
1.17

Discontinued operations
0.02

 
(0.58
)
 
(0.19
)
Net income
$
0.78

 
$
(0.11
)
 
$
0.98