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Earnings per Ordinary Share | 3 Months Ended
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Mar. 31, 2018
Earnings Per Share [Abstract] |
Earnings per Ordinary Share | Earnings per Ordinary Share Basic earnings per ordinary share are calculated by dividing net income available to holders of Aspen Holdings’ ordinary shares by the weighted average number of ordinary shares outstanding. Net income available to ordinary shareholders is calculated by deducting preference share dividends and net income/(loss) attributable to non-controlling interest from net income/ (loss) after tax for the period. Diluted earnings per ordinary share are based on the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period of calculation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per ordinary share for the three months ended March 31, 2018 and 2017, respectively:
| Three Months Ended March 31,
| 2018 |  | 2017
| ($ in millions, except share and per share amounts)
Net income | $ | 30.8 |  |  | $ | 96.5 |
Preference share dividends | (7.6 | ) |  | (10.5 | )
Preference share redemption costs (1) | — |  |  | (2.4 | )
Net amount attributable to non-controlling interest | (0.2 | ) |  | (0.1 | )
Basic and diluted net income available to ordinary shareholders | $ | 23.0 |  |  | $ | 83.5 |
Ordinary shares: |  |  |
Basic weighted average ordinary shares | 59,546,165 |  |  | 59,862,662 |
Weighted average effect of dilutive securities (2) | 966,982 |  |  | 1,334,110 |
Total diluted weighted average ordinary shares | 60,513,147 |  |  | 61,196,772 |
Earnings per ordinary share: |  |  |
Basic | $ | 0.39 |  |  | $ | 1.39 |
Diluted (3) | $ | 0.38 |  |  | $ | 1.36 |
(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.
Dividends. On May 2, 2018, the Company’s Board of Directors (the “Board of Directors”) declared the following quarterly dividends:
| Dividend |  | Payable on: |  | Record Date:
Ordinary shares | $ | 0.24 |  |  | June 5, 2018 |  | May 18, 2018
5.95% preference shares | $ | 0.3719 |  |  | July 1, 2018 |  | June 15, 2018
5.625% preference shares | $ | 0.3516 |  |  | July 1, 2018 |  | June 15, 2018

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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