v3.19.2
Earnings per Common Share
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings per Common Share Earnings per Common Share
The following is a summary of the elements used in calculating basic and diluted earnings per common share:
For the Three Months Ended June 30,
 
2019
 
2018
Numerator:
 
 
 
 
Net income (loss) from continuing operations
 
$
3,285

 
$
(5,535
)
Net income from continuing operations attributable to noncontrolling interests
 
—

 
(47
)
Net income (loss) attributable to Maiden from continuing operations
 
3,285

 
(5,582
)
Dividends on preference shares – Series A, C and D
 
—

 
(8,546
)
Amount allocated to participating common shareholders(1)
 
—

 
(4
)
Income (loss) attributable to Maiden common shareholders, before discontinued operations
 
3,285

 
(14,132
)
(Loss) income from discontinued operations, net of income tax expense
 
(18,698
)
 
8,215

Numerator for basic and diluted EPS - net loss allocated to Maiden common shareholders
 
$
(15,413
)
 
$
(5,917
)
Denominator:
 
 
 
 
Weighted average number of common shares – basic
 
83,058,123

 
83,126,204

Potentially dilutive securities:
 
 
 
 
Share options and restricted share units
 
17,033

 
—

Adjusted weighted average number of common shares – diluted
 
83,075,156

 
83,126,204

Basic and diluted earnings (loss) from continuing operations per share - Maiden common shareholders
 
$
0.04

 
$
(0.17
)
Basic and diluted (loss) earnings from discontinued operations per share - Maiden common shareholders
 
(0.23
)
 
0.10

Basic and diluted loss per share attributable to Maiden common shareholders:
 
$
(0.19
)
 
$
(0.07
)
11. Earnings per Common Share (continued)
For the Six Months Ended June 30,
 
2019
 
2018
Numerator:
 
 
 
 
Net (loss) income from continuing operations
 
$
(29,999
)
 
$
6,813

Net income from continuing operations attributable to noncontrolling interests
 
—

 
(118
)
Net (loss) income attributable to Maiden from continuing operations
 
(29,999
)
 
6,695

Dividends on preference shares – Series A, C and D
 
—

 
(17,091
)
Amount allocated to participating common shareholders(1)
 
—

 
(9
)
Loss attributable to Maiden common shareholders, before discontinued operations
 
(29,999
)
 
(10,405
)
(Loss) income from discontinued operations, net of income tax expense
 
(22,050
)
 
18,210

Net (loss) income allocated to Maiden common shareholders
 
$
(52,049
)

$
7,805

Denominator:
 
 
 
 
Weighted average number of common shares – basic and diluted
 
83,008,888

 
83,083,545

Basic and diluted loss from continuing operations per share attributable to Maiden common shareholders
 
$
(0.36
)
 
$
(0.13
)
Basic and diluted (loss) earnings from discontinued operations per share attributable to Maiden common shareholders
 
(0.27
)
 
0.22

Basic and diluted (loss) earnings per share attributable to Maiden common shareholders:
 
$
(0.63
)
 
$
0.09

(1)
This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the Amended and Restated 2007 Share Incentive Plan.
(2)
Please refer to "Note 14. Shareholders' Equity" and "Note 15. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018, for the terms and conditions of each of these anti-dilutive instruments.
At June 30, 2019, 518,029 share options and restricted share units (2018 - 571,143) were excluded from diluted earnings per common share as they were anti-dilutive.