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Earnings (Loss) per Common Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) per Common Share
Earnings (Loss) per Common Share

The following is a summary of the elements used in calculating basic and diluted earnings (loss) per common share for the three months ended March 31, 2014 and 2013:
For the Three Months Ended March 31,
 
2014

2013
Numerator:
 
 
 
 
Net income attributable to Maiden shareholders
 
$
2,022

 
$
28,080

Dividends on preference shares
 
(6,084
)
 
(3,094
)
 Amount allocated to participating common shareholders (1)
 
6

 
—

Numerator for basic EPS - net income (loss) allocated to Maiden common shareholders
 
$
(4,056
)
 
$
24,986

Potentially dilutive securities
 
 
 
 
Dividends on convertible preference shares (2)
 
—

 
—

Numerator for diluted EPS - net income (loss) allocated to Maiden common shareholders after assumed conversion
 
$
(4.056
)
 
$
24,986

Denominator:
 
 
 
 
Weighted average number of common shares outstanding – basic
 
72,708,113

 
72,417,358

Potentially dilutive securities:
 
 
 
 
Share options and restricted share units (2)
 
—

 
1,023,014

Convertible preference shares (2)
 
—

 
—

Adjusted weighted average number of common shares and assumed conversions – diluted
 
72,708,113

 
73,440,372

Basic earnings (loss) per share attributable to Maiden common shareholders:
 
$
(0.06
)
 
$
0.35

Diluted earnings (loss) per share attributable to Maiden common shareholders (2):
 
$
(0.06
)
 
$
0.34


(1) This represents earnings allocated to the holders of non-vested restricted shares issued to Company's employees under the 2007 Share Incentive Plan.
(2) The effect of share options, restricted shares units and mandatory convertible preference shares were excluded in the calculation of diluted EPS for the three months ended March 31, 2014 as they were anti-dilutive. Please refer to "Notes to Consolidated Financial Statements" included under Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2013 for the terms and conditions of each of these anti-dilutive instruments. Furthermore, the current number of additional common shares that could possibly be issued on conversion, if conversion at March 31, 2014 was permitted in accordance with the terms and conditions of Form 424B Prospectus Supplement filed with the SEC, is 36,714, an increase of 16,874 common shares since December 31, 2013.