Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2013 and 2012:

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands, except per share amounts)	2013		2012		2013		2012
Basic earnings per ordinary share & ordinary share equivalents outstanding:
Net income (loss) attributable to ordinary shareholders	$	135,648	$	171,902	$	759,136	$	569,684
Weighted average ordinary shares outstanding - basic	285,393		304,199		289,957		309,675
Basic earnings per ordinary share & ordinary share equivalents outstanding	$	0.48	$	0.57	$	2.62	$	1.84
Diluted earnings per ordinary share & ordinary share equivalents outstanding:
Weighted average ordinary shares outstanding - basic	285,393		304,199		289,957		309,675
Impact of share-based compensation and certain conversion features	5,097		3,565		4,871		2,927
Weighted average ordinary shares outstanding - diluted	290,490		307,764		294,828		312,602
Diluted earnings per ordinary share & ordinary share equivalents outstanding	$	0.47	$	0.56	$	2.57	$	1.82
Dividends per ordinary share	$	0.14	$	0.11	$	0.42	$	0.33

For the three months ended September 30, 2013 and 2012, and for the nine months ended September 30, 2013 and 2012, ordinary shares available for issuance under share-based compensation plans of 6.0 million and 8.6 million, and 6.3 million and 8.8 million, respectively, were not included in the calculation of diluted earnings per share because the assumed exercise or issuance of such shares would be anti-dilutive.