XML 57 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per common share:
 
 
 
 
 
 
 
 
Three months ended March 31,
 
 
(thousands of shares)
2014
 
2013
 
 
Numerator:
 
 
 
 
 
Net income available to RenaissanceRe common shareholders
$
151,003

 
$
190,474

 
 
Amount allocated to participating common shareholders (1)
(2,031
)
 
(2,918
)
 
 
Net income allocated to RenaissanceRe common shareholders
$
148,972

 
$
187,556

 
 
Denominator:
 
 
 
 
 
Denominator for basic income per RenaissanceRe common share - weighted average common shares
41,238

 
43,461

 
 
Per common share equivalents of employee stock options and restricted shares
665

 
829

 
 
Denominator for diluted income per RenaissanceRe common share - adjusted weighted average common shares and assumed conversions
41,903

 
44,290

 
 
Basic income per RenaissanceRe common share
$
3.61

 
$
4.32

 
 
Diluted income per RenaissanceRe common share
$
3.56

 
$
4.23

 
 
 
 
 
 
 
(1)
Represents earnings attributable to holders of unvested restricted shares issued under the Company’s 2001 Stock Incentive Plan and Non-Employee Director Stock Incentive Plan.