BASIC AND DILUTED EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2017

Earnings Per Share, Basic and Diluted [Abstract]

BASIC AND DILUTED EARNINGS PER COMMON SHARE

BASIC AND DILUTED EARNINGS PER COMMON SHARE

Shares used in basic earnings per share are computed using the weighted average number of common shares outstanding during each period. Shares used in diluted (loss) earnings per share include the dilutive effect of unvested restricted stock under the Company’s Stock Plan using the treasury stock method. For the period ended March 31, 2017, diluted loss per share equals basic loss per share as the assumed vesting of restricted stock would have an anti-dilutive effect. At March 31, 2017 and 2016, there were no outstanding stock options under the Company's Stock Plan.

The components of basic and diluted (loss) earnings per common share for the three months ended March 31, 2017 and 2016 were as follows:

	Three Months Ended March 31,
	2017			2016
Numerator:
(Loss) income from continuing operations, net of taxes	$	(37.7	)	$	10.6
Income from discontinued operations, net of taxes	0.3			0.4
Net (loss) income	$	(37.4	)	$	11.0
Denominator:
Weighted average common shares outstanding – Basic	52,529,826			52,482,413
Effect of dilutive restricted stock	—			167,350
Weighted average common shares outstanding – Diluted	52,529,826			52,649,763
Basic (loss) earnings per common share:
Continuing operations	$	(0.72	)	$	0.20
Discontinued operations	0.01			0.01
Net (loss) income	$	(0.71	)	$	0.21
Diluted (loss) earnings per common share:
Continuing operations	$	(0.72	)	$	0.20
Discontinued operations	0.01			0.01
Net (loss) income	$	(0.71	)	$	0.21
Unvested restricted stock awards under the Stock Plan (a)	111,136			—

^(a) These are outstanding common stock equivalents that were not included in the computation of diluted EPS because their inclusion would have had an anti-dilutive effect.