EX-11.1 4 dex111.htm STATEMENTS RE. COMPUTATION OF NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE Statements Re. Computation of Net Income Per Common and Common Equivalent Share

Exhibit 11.1

 

PartnerRe Ltd.

Computation of Net Income per Common and Common Equivalent Share

For the Nine Months and Three Months Ended September 30, 2005 and 2004

(in thousands of U.S. dollars, except per share amounts)

 

    

For the Nine Months Ended

September 30, 2005

    

For the Nine Months Ended

September 30, 2004

     Loss
(Numerator)
     Shares
(Denominator)
    Per-Share
Amount
     Income
(Numerator)
    Shares
(Denominator)
    Per-Share
Amount

Net (loss) income

    $ (17,424 )                $ 348,684            

Less: preferred dividends

      25,894                    14,681            
    
              
           

Net (loss) income available to common shareholders/Weighted average number of common shares outstanding/Basic net (loss) income per share

    $ (43,318 )   54,673.2    $ (0.79 )   $ 334,003    53,633.0    $ 6.23

Effect of dilutive securities:(1)

                                       

Stock options and other

                                515.8       
                                
      

Net income available to common shareholders/Weighted average number of common and common equivalent shares outstanding/Diluted net income per share

                         $ 334,003    54,148.8    $ 6.17
(1) Diluted net loss per share has not been shown for the 2005 period because the effect of dilutive securities would have been anti-dilutive. Dilutive securities, under the form of options and others, that could potentially dilute basic net loss per share in the future were not included in the computation of diluted net loss per share because to do so would have been antidilutive. The weighted average number of common and common equivalent shares outstanding for the period would have amounted to 55,566.0 thousand shares if these securities had been included.

 

    

For the Three Months Ended

September 30, 2005

    

For the Three Months Ended

September 30, 2004

     Loss
(Numerator)
     Shares
(Denominator)
    Per-Share
Amount
     Income
(Numerator)
    Shares
(Denominator)
    Per-Share
Amount

Net (loss) income

    $ (288,748 )                $ 83,205            

Less: preferred dividends

      8,631                    4,894            
    
              
           

Net (loss) income available to common shareholders/Weighted average number of common shares outstanding/Basic net (loss) income per share

    $ (297,379 )   54,278.9    $ (5.48 )   $ 78,311    53,311.2    $ 1.47

Effect of dilutive securities: (2)

                                       

Stock options and other

                                410.5       
                                
      

Net income available to common shareholders/Weighted average number of common and common equivalent shares outstanding/Diluted net income per share

                         $ 78,311    53,721.7    $ 1.46
(2) Diluted net loss per share has not been shown for the 2005 period because the effect of dilutive securities would have been anti-dilutive. Dilutive securities, under the form of options and others, that could potentially dilute basic net loss per share in the future were not included in the computation of diluted net loss per share because to do so would have been antidilutive. The weighted average number of common and common equivalent shares outstanding for the period would have amounted to 55,175.6 thousand shares if these securities had been included.