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Earnings per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share
Basic and diluted earnings per share amounts are based on the weighted average number of common shares outstanding, including unvested restricted shares that are considered participating securities. Diluted earnings per share amounts are based on the weighted average number of common shares including unvested restricted shares and the net effect of potentially dilutive common shares outstanding.
The following table outlines the Company's computation of earnings per share for net income from continuing operations attributable to OneBeacon's common shareholders for the three months ended March 31, 2014 and 2013:
 
 
Three months ended
March 31,
 
 
2014
 
2013
Earnings attributable to OneBeacon's common shareholders—basic and diluted (in millions):
 
 
 
 
Net income from continuing operations attributable to OneBeacon's common shareholders
 
$
47.5

 
$
67.9

Allocation of income for participating unvested restricted common shares
 
(0.4
)
 
(0.7
)
Dividends paid on participating restricted common shares
 
(0.1
)
 
(0.2
)
Total allocation to restricted common shares
 
(0.5
)
 
(0.9
)
Net income from continuing operations attributable to OneBeacon's common shareholders, net of restricted common share amounts
 
$
47.0

 
$
67.0

 
 
 
 
 
Undistributed net earnings (in millions):
 
 
 
 
Net income from continuing operations attributable to OneBeacon's common shareholders, net of restricted common share amounts
 
$
47.0

 
$
67.0

Dividends paid, net of restricted common share amounts
 
(19.9
)
 
(19.8
)
Total undistributed net earnings, net of restricted common share amounts
 
$
27.1

 
$
47.2

 
 
 
 
 
Earnings per share denominator—basic and diluted (in millions):
 
 
 
 
Total weighted average common shares outstanding
 
95.4

 
95.4

Weighted average unvested restricted common shares(1)
 
(0.8
)
 
(0.9
)
Basic and diluted earnings per share denominator
 
94.6

 
94.5

 
 
 
 
 
Earnings per share attributable to OneBeacon's common shareholders—basic and diluted (in dollars):
 
 
 
 
Net income from continuing operations attributable to OneBeacon's common shareholders
 
$
0.50

 
$
0.71

Dividends declared and paid
 
(0.21
)
 
(0.21
)
Undistributed earnings
 
$
0.29

 
$
0.50

_______________________________________________________________________________
(1) 
Restricted shares outstanding vest in equal installments upon a stated date or upon the occurrence of a specified event.

Basic and diluted income (loss) per share amounts for discontinued operations are included in Note 15—"Discontinued Operations."