The following sets forth the computation of basic and diluted earnings (loss) per share available to Third Point Re common shareholders for the three and six months ended June 30, 2018 and 2017:



		Three months ended						Six months ended
		June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Weighted-average number of common shares outstanding:		($ in thousands, except share and per share amounts)
	Basic number of common shares outstanding	99,498,901			102,283,844			100,342,636			103,144,078
	Dilutive effect of options	1,274,609			1,084,217			—			937,864
	Dilutive effect of warrants	878,977			988,830			—			860,484
	Dilutive effect of restricted shares with service and performance condition	379,998			212,335			—			207,284
	Diluted number of common shares outstanding	102,032,485			104,569,226			100,342,636			105,149,710
Basic earnings (loss) per common share:
	Net income (loss) available to Third Point Re common shareholders	$	19,602		$	74,578		$	(6,399	)	$	178,764
	Net income allocated to Third Point Re participating common shareholders	(6		)	(71		)	—			(204		)
	Net income (loss) allocated to Third Point Re common shareholders	$	19,596		$	74,507		$	(6,399	)	$	178,560
	Basic earnings (loss) per common share	$	0.20		$	0.73		$	(0.06	)	$	1.73
Diluted earnings (loss) per common share:
	Net income (loss) available to Third Point Re common shareholders	$	19,602		$	74,578		$	(6,399	)	$	178,764
	Net income allocated to Third Point Re participating common shareholders	(6		)	(69		)	—			(200		)
	Net income (loss) allocated to Third Point Re common shareholders	$	19,596		$	74,509		$	(6,399	)	$	178,564
	Diluted earnings (loss) per common share	$	0.19		$	0.71		$	(0.06	)	$	1.70

For the three months ended June 30, 2018 and 2017, anti-dilutive options of 3,764,521 and 4,322,659, respectively, were excluded from the computation of diluted earnings per share. For the six months ended June 30, 2018 and 2017, anti-dilutive options of 3,764,521 and 4,322,659, respectively, were excluded from the computation of diluted earnings per share.

Additionally, as a result of the net loss for the six months ended June 30, 2018, dilutive options, warrants and restricted shares with service and performance conditions totaling 10,003,738 were considered anti-dilutive and were excluded from the computation of diluted loss per common share. No allocation of the net loss has been made to participating shares in the calculation of diluted net loss per common share.