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Computation of Earnings Per Common Share and Common Share Equivalent
 9 Months Ended
Sep. 30, 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. On and subsequent to July 25, 2016, share information relates to the common shares of XL Group.
The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2017 and 2016:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands, except per share amounts)
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Basic earnings per common share & common share equivalents outstanding:
Net income (loss) attributable to common shareholders
$
(1,043,689
)
 
$
70,601

 
$
(589,226
)
 
$
136,268

Weighted average common shares outstanding - basic
257,022

 
273,660

 
261,203

 
282,442

Basic earnings per common share & common share equivalents outstanding
$
(4.06
)
 
$
0.26

 
$
(2.26
)
 
$
0.48

 
 
 
 
 
 
 
 
Diluted earnings per common share & common share equivalents outstanding:
Weighted average common shares outstanding - basic
257,022

 
273,660

 
261,203

 
282,442

Impact of share-based compensation
4,276

 
3,434

 
4,063

 
3,683

Weighted average common shares outstanding - diluted
261,298

 
277,094

 
265,266

 
286,125

Diluted earnings per common share & common share equivalents outstanding
$
(4.06
)
 
$
0.25

 
$
(2.26
)
 
$
0.48

Dividends per common share
$
0.22

 
$
0.20

 
$
0.66

 
$
0.60


For the three and nine months ended September 30, 2017 and 2016, common shares available for issuance under share-based compensation plans noted in the table below 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.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2017
 
2016
 
2017
 
2016
Common shares available for issuance under share-based compensation plans
14.8

 
7.8

 
15.2

 
7.3