Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

9 Months Ended

Sep. 30, 2015

Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

The following table sets forth the computation of basic and diluted earnings per ordinary share for the three and nine months ended September 30, 2015 and 2014:



	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands, except per share amounts)	2015		2014		2015		2014

Basic earnings per ordinary share & ordinary share equivalents outstanding:
Net income (loss) attributable to ordinary shareholders	$	27,282	$	72,384	$	978,602	$	48,841
Weighted average ordinary shares outstanding, in thousands - basic	301,867		264,353		282,506		270,494
Basic earnings per ordinary share & ordinary share equivalents outstanding	$	0.09	$	0.27	$	3.46	$	0.18

Diluted earnings per ordinary share & ordinary share equivalents outstanding:
Weighted average ordinary shares outstanding, in thousands - basic	301,867		264,353		282,506		270,494
Impact of share-based compensation and certain conversion features, in thousands	5,087		4,787		4,967		4,418
Weighted average ordinary shares outstanding, in thousands - diluted	306,954		269,140		287,473		274,912
Diluted earnings per ordinary share & ordinary share equivalents outstanding	$	0.09	$	0.27	$	3.40	$	0.18
Dividends per ordinary share	$	0.20	$	0.16	$	0.52	$	0.48

For the three months ended September 30, 2015 and 2014, and for the nine months ended September 30, 2015 and 2014, ordinary shares available for issuance under share-based compensation plans of 2.6 million and 4.7 million, respectively, and 2.4 million and 5.5 million, respectively, were not included in the calculation of diluted earnings per ordinary share because the assumed exercise or issuance of such shares would be anti-dilutive.