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Earnings per Ordinary Share (Tables) | 3 Months Ended
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Mar. 31, 2017
Earnings Per Share [Abstract] |
Computation of Basic and Diluted Earnings per Share | The following table sets forth the computation of basic and diluted earnings per ordinary share for the three months ended March 31, 2017 and 2016, respectively:
| Three Months Ended March 31,
| 2017 |  | 2016
| ($ in millions, except share and per share amounts)
Net income | $ | 96.5 |  |  | $ | 114.4 |
Preference share dividends | (10.5 | ) |  | (9.5 | )
Change in redemption value (1) | (2.4 | ) |  | — |
Net amount attributable to non-controlling interest | (0.1 | ) |  | 0.2 |
Basic and diluted net income available to ordinary shareholders | $ | 83.5 |  |  | $ | 105.1 |
Ordinary shares: |  |  |
Basic weighted average ordinary shares | 59,862,662 |  |  | 60,867,815 |
Weighted average effect of dilutive securities (2) | 1,334,110 |  |  | 1,616,123 |
Total diluted weighted average ordinary shares | 61,196,772 |  |  | 62,483,938 |
Earnings per ordinary share: |  |  |
Basic | $ | 1.39 |  |  | $ | 1.73 |
Diluted | $ | 1.36 |  |  | $ | 1.68 |
(1) | The $2.4 million deduction from net income in 2017 is attributable to the reclassification from additional paid-in capital to retained earnings representing the difference between the capital raised upon issuance of the 7.401% Perpetual Non-Cumulative Preference Shares, net of issuance costs, and the final redemption costs of $133.2 million.
(2) | Dilutive securities consist of employee restricted share units and performance shares associated with the Company’s long-term incentive plan, employee share purchase plans and director restricted share units as described in Note 14.
Summary of Declared Dividends | Dividends. On April 26, 2017, the Company’s Board of Directors (the “Board of Directors”) declared the following quarterly dividends:
| Dividend |  | Payable on: |  | Record Date:
Ordinary shares | $ | 0.24 |  |  | May 30, 2017 |  | May 12, 2017
7.250% preference shares | $ | 0.4531 |  |  | July 1, 2017 |  | June 15, 2017
5.95% preference shares | $ | 0.3719 |  |  | July 1, 2017 |  | June 15, 2017
5.625% preference shares | $ | 0.3516 |  |  | July 1, 2017 |  | June 15, 2017

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- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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