Earnings per share (Tables)

9 Months Ended

Sep. 30, 2016

Computation of basic and diluted earnings per share

The following table sets forth the computation of basic earnings per share and earnings per diluted share for the three and nine months ended September 30, 2016 and 2015:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
Basic earnings per share
Net income available to Validus common shareholders	89,844		66,650			351,617		305,851
Less: Dividends on outstanding warrants	—		(1,080		)	—		(3,566		)
Net income allocated to Validus common shareholders	$	89,844	$	65,570		$	351,617	$	302,285

Weighted average number of common shares outstanding	80,134,394		82,635,316			81,635,496		83,296,703

Basic earnings per share available to Validus common shareholders	$	1.12	$	0.79		$	4.31	$	3.63

Earnings per diluted share
Net income available to Validus common shareholders	89,844		66,650			351,617		305,851
Less: Dividends on outstanding warrants	—		—			—		—
Net income allocated to Validus common shareholders	$	89,844	$	66,650		$	351,617	$	305,851

Weighted average number of common shares outstanding	80,134,394		82,635,316			81,635,496		83,296,703
Share equivalents:
Warrants	—		2,054,378			—		2,290,892
Stock options	26,705		47,702			32,126		190,429
Unvested restricted shares	1,083,457		892,098			1,271,002		1,063,903
Weighted average number of diluted common shares outstanding	81,244,556		85,629,494			82,938,624		86,841,927

Earnings per diluted share available to Validus common shareholders	$	1.11	$	0.78		$	4.24	$	3.52