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Earnings per share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings per share  
Schedule of computation of basic and diluted earnings per common share

 

 

 

 

 

 

 

 

 

 

 

(Millions, except share and per share information)

    

2018

    

2017

    

2016

Numerator:

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(16.7)

 

$

(136.3)

 

$

51.8

Less: Income attributable to non-controlling interests

 

 

(1.4)

 

 

(13.7)

 

 

(19.3)

Less: Accrued dividends on Series A redeemable preference shares

 

 

(2.6)

 

 

(6.1)

 

 

 —

Less: Change in carrying value of  Series B preference shares

 

 

(36.4)

 

 

 —

 

 

 —

Add: Redemption of Series A redeemable preference shares

 

 

13.8

 

 

 —

 

 

 —

Net (loss) income attributable to Sirius Group common shareholders

 

$

(43.3)

 

$

(156.1)

 

$

32.5

Denominator:

 

 

  

 

 

  

 

 

  

Weighted average shares outstanding for basic and diluted earnings per share(1)(2)

 

 

119,253,924

 

 

120,000,000

 

 

120,000,000

Earnings (loss) per share

 

 

  

 

 

  

 

 

  

Basic earnings per share

 

$

(0.36)

 

$

(1.30)

 

$

0.27

Diluted earnings per share

 

$

(0.36)

 

$

(1.30)

 

$

0.27

(1)

On April 27, 2016, the Company split its common shares by a multiple of 10,000 resulting in 120,000,000 common shares. The stock split has been applied retroactively to January 1,2016.

(2)

Due to the net loss incurred during the year ended December 31, 2018, all potentially dilutive securities have been excluded from Diluted earnings per share as they would be anti-dilutive. As of December 31, 2018, there were a total of 23,433,114 potentially dilutive securities excluded from the calculation of Diluted earnings per share. As of both December 31, 2017 and 2016, there were no potentially dilutive securities.