Computation of Earnings Per Ordinary Share and Ordinary Share Equivalent

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

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, 2013 and 2012:

	Three Months Ended March 31,
(U.S. dollars in thousands, except per share amounts)	2013		2012
Basic earnings per ordinary share & ordinary share equivalents outstanding:
Net income (loss) attributable to ordinary shareholders	$	350,790	$	176,628
Weighted average ordinary shares outstanding - basic	295,000		315,120
Basic earnings per ordinary share & ordinary share equivalents outstanding	$	1.19	$	0.56
Diluted earnings per ordinary share & ordinary share equivalents outstanding:
Weighted average ordinary shares outstanding - basic	295,000		315,120
Impact of share-based compensation and certain conversion features	4,469		2,519
Weighted average ordinary shares outstanding - diluted	299,469		317,639
Diluted earnings per ordinary share & ordinary share equivalents outstanding	$	1.17	$	0.56
Dividends per ordinary share	$	0.14	$	0.11

For the three months ended March 31, 2013 and 2012, ordinary shares available for issuance under share-based compensation plans of 6.4 million and 9.6 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.