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Earnings per Ordinary Share (Tables) | 12 Months Ended
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Dec. 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 share for the twelve months ended December 31, 2017, 2016, and 2015, respectively:
|  | Twelve Months Ended December 31,
|  | 2017 |  | 2016 |  | 2015
Net (loss)/income |  | $ | (266.4 | ) |  | $ | 203.4 |  |  | $ | 323.1 |
Preference share dividends |  | (36.2 | ) |  | (41.8 | ) |  | (37.8 | )
Preference share redemption costs (1) |  | (8.0 | ) |  | — |  |  | — |
Net profit attributable to non-controlling interest |  | (1.3 | ) |  | (0.1 | ) |  | (0.8 | )
Basic and diluted net income available to ordinary shareholders |  | $ | (311.9 | ) |  | $ | 161.5 |  |  | $ | 284.5 |
Ordinary shares: |  |  |  |  |  |
Basic weighted average ordinary shares |  | 59,753,886 |  |  | 60,478,740 |  |  | 61,287,884 |
Weighted average effect of dilutive securities (2) (3) |  | — |  |  | 1,381,949 |  |  | 1,399,619 |
Total diluted weighted average ordinary shares |  | 59,753,886 |  |  | 61,860,689 |  |  | 62,687,503 |
Earnings per ordinary share: |  |  |  |  |  |
Basic |  | $ | (5.22 | ) |  | $ | 2.67 |  |  | $ | 4.64 |
Diluted (3) |  | $ | (5.22 | ) |  | $ | 2.61 |  |  | $ | 4.54 |
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(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% Preference Shares and 7.250% Preference Shares, net of issuance costs, and the final 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 stock units and options as described in Note 17.
(3) | The basic and diluted number of ordinary shares for 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 February 7, 2018, the Company’s Board of Directors declared the following quarterly dividends:
|  | Dividend |  | Payable on: |  | Record Date:
Ordinary shares |  | $ | 0.24 |  |  | March 13, 2018 |  | February 23, 2018
5.95% Preference Shares |  | $ | 0.3719 |  |  | April 1, 2018 |  | March 15, 2018
5.625% Preference Shares |  | $ | 0.3516 |  |  | April 1, 2018 |  | March 15, 2018

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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=98513485&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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