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Earnings per Ordinary Share (Tables) | 6 Months Ended
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Jun. 30, 2018
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 six months ended June 30, 2018 and 2017, respectively:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| ($ in millions, except share and per share amounts)
Net (loss)/income | $ | (14.7 | ) |  | $ | 75.8 |  |  | $ | 16.1 |  |  | $ | 172.3 |
Preference share dividends | (7.6 | ) |  | (10.5 | ) |  | (15.2 | ) |  | (21.0 | )
Preference share redemption costs (1) | — |  |  | — |  |  | — |  |  | (2.4 | )
Net amount attributable to non-controlling interest | (0.1 | ) |  | (0.1 | ) |  | (0.3 | ) |  | (0.2 | )
Basic and diluted net (loss)/income available to ordinary shareholders (2) | $ | (22.4 | ) |  | $ | 65.2 |  |  | $ | 0.6 |  |  | $ | 148.7 |
Ordinary shares: |  |  |  |  |  |  |
Basic weighted average ordinary shares | 59,671,684 |  |  | 59,966,358 |  |  | 59,609,271 |  |  | 59,914,797 |
Weighted average effect of dilutive securities (2) (3) | — |  |  | 1,056,623 |  |  | 918,865 |  |  | 1,181,020 |
Total diluted weighted average ordinary shares | 59,671,684 |  |  | 61,022,981 |  |  | 60,528,136 |  |  | 61,095,817 |
(Loss)/earnings per ordinary share: |  |  |  |  |  |  |
Basic | $ | (0.38 | ) |  | $ | 1.09 |  |  | $ | 0.01 |  |  | $ | 2.48 |
Diluted (2) | $ | (0.38 | ) |  | $ | 1.07 |  |  | $ | 0.01 |  |  | $ | 2.43 |
(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) | The basic and diluted number of ordinary shares for the three months ended June 30, 2018 was the same, as the inclusion of dilutive securities in a loss-making period would be anti-dilutive.
(3) | 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 August 1, 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 |  |  | September 4, 2018 |  | August 17, 2018
5.95% preference shares | $ | 0.3719 |  |  | October 1, 2018 |  | September 15, 2018
5.625% preference shares | $ | 0.3516 |  |  | October 1, 2018 |  | September 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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