Computation of Earnings Per Common Share and Common Share Equivalent

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Computation of Earnings Per Common Share and Common Share Equivalent

Computation of Earnings Per Common Share and Common Share Equivalents

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 three months ended March 31, 2017 and 2016:

	Three Months Ended March 31,
(In thousands, except per share amounts)	2017		2016
Basic earnings per common share & common share equivalents outstanding:
Net income (loss) attributable to common shareholders	$	152,843	$	21,885
Weighted average common shares outstanding, in thousands - basic	265,690		291,969
Basic earnings per common share & common share equivalents outstanding	$	0.58	$	0.07
Diluted earnings per common share & common share equivalents outstanding:
Weighted average common shares outstanding - basic	265,690		291,969
Impact of share-based compensation	4,077		4,697
Weighted average common shares outstanding - diluted	269,767		296,666
Diluted earnings per common share & common share equivalents outstanding	$	0.57	$	0.07
Dividends per common share	$	0.22	$	0.20

For the three months ended March 31, 2017 and 2016, common shares available for issuance under share-based compensation plans of 3.0 million and 6.0 million, respectively, were not included in the calculation of diluted earnings per common share because the assumed exercise or issuance of such shares would be anti-dilutive.