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BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2015
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. At September 30, 2015, there were no outstanding stock options under the Company's Stock Plan. For the nine months ended September 30, 2014 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.
No unvested restricted stock awards were excluded from the computation of diluted earnings (loss) per common share for the three and nine months ended September 30, 2015 and 2014.









The components of basic and diluted earnings per common share for the three and nine months ended September 30, 2015 and 2014 are as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Income from continuing operations, net of taxes
$
7.9

 
$
14.2

 
$
33.1

 
$
37.3

(Loss) income from discontinued operations, net of taxes
(1.7
)
 
0.4

 
(1.8
)
 
0.9

Net income
$
6.2

 
$
14.6

 
$
31.3

 
$
38.2

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding – Basic
52,440,580

 
52,356,798

 
52,422,660

 
52,356,798

Effect of dilutive restricted stock
163,131

 
58,165

 
170,547

 
33,137

Weighted average common shares outstanding – Diluted
52,603,711

 
52,414,963

 
52,593,207

 
52,389,935

Basic earnings per common share:
 
 
 
 
 
 
 
Continuing operations
$
0.15

 
$
0.27

 
$
0.63

 
$
0.71

Discontinued operations
(0.03
)
 
0.01

 
(0.03
)
 
0.02

Net income
$
0.12

 
$
0.28

 
$
0.60

 
$
0.73

Diluted earnings per common share:
 
 
 
 
 
 
 
Continuing operations
$
0.15

 
$
0.27

 
$
0.63

 
$
0.71

Discontinued operations
(0.03
)
 
0.01

 
(0.03
)
 
0.02

Net income
$
0.12

 
$
0.28

 
$
0.60

 
$
0.73