XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Earnings per Ordinary Share (Tables) | 9 Months Ended
--- | ---
Sep. 30, 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 and nine months ended September 30, 2017 and 2016, respectively:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| ($ in millions, except share and per share amounts)
Net (loss) income | $ | (253.8 | ) |  | $ | 95.6 |  |  | $ | (81.5 | ) |  | $ | 274.9 |
Preference share dividends | (7.7 | ) |  | (9.5 | ) |  | (28.7 | ) |  | (28.4 | )
Preference share redemption costs (1) | (5.6 | ) |  | — |  |  | (8.0 | ) |  | — |
Net amount attributable to non-controlling interest | (0.6 | ) |  | 0.2 |  |  | (0.8 | ) |  | — |
Basic and diluted net (loss) income available to ordinary shareholders | $ | (267.7 | ) |  | $ | 86.3 |  |  | $ | (119.0 | ) |  | $ | 246.5 |
Ordinary shares: |  |  |  |  |  |  |
Basic weighted average ordinary shares | 59,759,730 |  |  | 60,225,705 |  |  | 59,862,540 |  |  | 60,588,307 |
Weighted average effect of dilutive securities (2) (3) | — |  |  | 1,351,313 |  |  | — |  |  | 1,455,133 |
Total diluted weighted average ordinary shares | 59,759,730 |  |  | 61,577,018 |  |  | 59,862,540 |  |  | 62,043,440 |
(Loss) earnings per ordinary share: |  |  |  |  |  |  |
Basic | $ | (4.48 | ) |  | $ | 1.43 |  |  | $ | (1.99 | ) |  | $ | 4.07 |
Diluted (3) | $ | (4.48 | ) |  | $ | 1.40 |  |  | $ | (1.99 | ) |  | $ | 3.97 |
(1) | The $8.0 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% and 7.250% Perpetual Non-Cumulative Preference Shares, net of issuance costs, and the total redemption costs of $293.2 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.
(3) | The basic and diluted number of ordinary shares for the three and nine months ended September 30, 2017 is the same as the inclusion of dilutive securities in a loss making period would be anti-dilutive.
Summary of Declared Dividends | Dividends. On October 25, 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 |  |  | November 28, 2017 |  | November 10, 2017
5.95% preference shares | $ | 0.3719 |  |  | January 1, 2018 |  | December 15, 2017
5.625% preference shares | $ | 0.3516 |  |  | January 1, 2018 |  | December 15, 2017

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=98513485&loc=d3e4304-108586 + Details
Name: | us-gaap_ScheduleOfDividendsPayableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration