Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

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 months ended March 31, 2014 and 2013:

	Three Months Ended March 31,
(U.S. dollars in thousands, except per share amounts)	2014		2013
Basic earnings per ordinary share & ordinary share equivalents outstanding:
Net income (loss) attributable to ordinary shareholders	$	255,717	$	350,790
Weighted average ordinary shares outstanding - basic	276,337		295,000
Basic earnings per ordinary share & ordinary share equivalents outstanding	$	0.93	$	1.19
Diluted earnings per ordinary share & ordinary share equivalents outstanding:
Weighted average ordinary shares outstanding - basic	276,337		295,000
Impact of share-based compensation and certain conversion features	4,121		4,469
Weighted average ordinary shares outstanding - diluted	280,458		299,469
Diluted earnings per ordinary share & ordinary share equivalents outstanding	$	0.91	$	1.17
Dividends per ordinary share	$	0.16	$	0.14

For the three months ended March 31, 2014 and 2013, ordinary shares available for issuance under share-based compensation plans of 6.1 million and 6.4 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.