The Company uses the two-class method to calculate Net income (loss) per share. The Company has granted restricted stock that contains non-forfeitable rights to dividends on unvested shares. Since these unvested shares are considered participating securities under the two-class method, the Company allocates Net income (loss) per share to common stock and participating securities according to dividends declared and participation rights in undistributed earnings.

Diluted net income (loss) per common share is computed based on Net income (loss) divided by the weighted average number of common and potential common shares outstanding. Potential common shares during the respective periods are those related to dilutive stock-based compensation, including long-term stock-based incentive compensation and directors’ accumulated deferred stock compensation, which may be received by the directors in the form of stock or cash.

A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted Net income (loss) per share follows (in millions, shares in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator (basic and diluted):
Net income (loss)	$	3.6	$	(9.5)	$	(8.1)	$	(435.0)
Less: Dividends to participating securities	(0.2)		(0.1)		(0.4)		(0.3)
Net income (loss) attributable to Common Stockholders	$	3.4	$	(9.6)	$	(8.5)	$	(435.3)

Denominator:
Average number of common shares outstanding	55,118.0		54,624.9		54,974.0		54,536.5
Effect of dilutive stock-based compensation(1)	561.2		—		—		—
Average number of common and potential common shares outstanding	55,679.2		54,624.9		54,974.0		54,536.5

(1)For the six months ended June 30, 2026, Diluted income (loss) per share excludes 810,000 weighted average potential common shares as their inclusion would be anti-dilutive. For the three and six months ended June 30, 2025, Diluted loss per share excludes an immaterial amount of weighted average potential common shares as their inclusion would be anti-dilutive