Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Computation of earnings per ordinary share and ordinary share equivalent

Computation of Earnings Per Common Share and Common Share Equivalent

As a result of the Redomestication discussed in Note 1(a), "Significant Accounting Policies - Basis of Preparation and Consolidation," prior to July 25, 2016, share information relates to the ordinary shares of XL-Ireland and its consolidated subsidiaries. On and subsequent to July 25, 2016, share information relates to the common shares of XL-Bermuda and its consolidated subsidiaries.

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2016, 2015 and 2014:

(U.S. dollars in thousands, except per share amounts)	2016		2015		2014
Basic earnings per common share and common share equivalents outstanding:
Net income (loss) attributable to common shareholders	$	440,968	$	1,207,152	$	188,340
Weighted average common shares outstanding	278,957		286,194		267,103
Basic earnings per common share and common share equivalents outstanding	$	1.58	$	4.22	$	0.71
Diluted earnings per common share and common share equivalents outstanding:
Weighted average common shares outstanding – basic	278,957		286,194		267,103
Impact of share-based compensation	3,801		4,805		4,424
Weighted average common shares outstanding – diluted	282,758		290,999		271,527
Diluted earnings per common share & common share equivalents outstanding	$	1.56	$	4.15	$	0.69
Dividends per common share	$	0.80	$	0.72	$	0.64

For the years ended December 31, 2016, 2015 and 2014, common shares available for issuance under share-based compensation plans of 6.8 million, 2.5 million and 5.5 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.