| Earnings (loss) per share available to Third Point Re common shareholders |
15. 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 nine months ended September 30, 2019 and 2018: | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | | September 30,
2019 | | September 30,
2018 | | September 30,
2019 | | September 30,
2018 | Weighted-average number of common shares outstanding: | ($ in thousands, except share and per share amounts) | | Basic number of common shares outstanding | 91,903,556 |
| | 95,671,385 |
| | 91,784,268 |
| | 98,768,442 |
| | Dilutive effect of options | — |
| | — |
| | 208,652 |
| | — |
| | Dilutive effect of warrants | — |
| | — |
| | 150,501 |
| | — |
| | Dilutive effect of restricted shares with service and performance condition | — |
| | — |
| | 566,000 |
| | — |
| | Diluted number of common shares outstanding | 91,903,556 |
| | 95,671,385 |
| | 92,709,421 |
| | 98,768,442 |
| Basic earnings (loss) per common share: | | | | | | | | | Net income (loss) available to Third Point Re common shareholders | $ | (15,099 | ) | | $ | (13,281 | ) | | $ | 170,881 |
| | $ | (19,680 | ) | | Net income allocated to Third Point Re participating common shareholders | — |
| | — |
| | (515 | ) | | — |
| | Net income (loss) allocated to Third Point Re common shareholders | $ | (15,099 | ) | | $ | (13,281 | ) | | $ | 170,366 |
| | $ | (19,680 | ) | | Basic earnings (loss) per share available to Third Point Re common shareholders | $ | (0.16 | ) | | $ | (0.14 | ) | | $ | 1.86 |
| | $ | (0.20 | ) | Diluted earnings (loss) per common share: | | | | | | | | | Net income (loss) available to Third Point Re common shareholders | $ | (15,099 | ) | | $ | (13,281 | ) | | $ | 170,881 |
| | $ | (19,680 | ) | | Net income allocated to Third Point Re participating common shareholders | — |
| | — |
| | (510 | ) | | — |
| | Net income (loss) allocated to Third Point Re common shareholders | $ | (15,099 | ) | | $ | (13,281 | ) | | $ | 170,371 |
| | $ | (19,680 | ) | | Diluted earnings (loss) per share available to Third Point Re common shareholders | $ | (0.16 | ) | | $ | (0.14 | ) | | $ | 1.84 |
| | $ | (0.20 | ) |
For the nine months ended September 30, 2019, anti-dilutive options of 3,712,037 were excluded from the computation of diluted earnings per share. As a result of the net loss for the three months ended September 30, 2019 and for the three and nine months ended September 30, 2018, dilutive options, warrants and restricted shares with service and performance conditions totaling 9,745,817, 9,740,753 and 9,903,419, respectively, 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.
|