| Earnings (loss) per share available to Third Point Re common shareholders |
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. |