Earnings per share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings per share

Schedule of computation of basic and diluted earnings per common share

	For the three months ended
	March 31,
(Millions, except share and per share information)	2019		2018
Basic earnings per share
Numerator:
Net income	$	104.1	$	43.3
Less: Income attributable to non-controlling interests		(0.4)		(0.2)
Less: Change in carrying value of Series B preference shares		(8.4)		—
Less: Accrued dividends on Series A redeemable preference shares		—		(2.6)
Net income available for dividends out of undistributed earnings	$	95.3	$	40.5
Less: Earnings attributable to Series B preference shares		(8.9)		—
Less: Earnings attributable to Series A redeemable preference shares		—		(1.7)
Net income available to Sirius Group common shareholders	$	86.4	$	38.8
Denominator:
Weighted average shares outstanding for basic earnings per share		115,182,331		120,000,000
Basic earnings per share	$	0.75	$	0.32
Diluted earnings per share
Numerator:
Net income available to Sirius Group common shareholders	$	86.4	$	38.8
Add: Change in carrying value of Series B preference shares		8.4		—
Net income available to Sirius Group common shareholders on a diluted basis	$	94.8	$	38.8
Denominator:
Weighted average shares outstanding for basic earnings per share		115,182,331		120,000,000
Add: Series B preference shares		11,901,670		—
Add: Unvested performance share units and restricted share units		251,313		—
Weighted average shares outstanding for diluted earnings per share(1)		127,335,314		120,000,000
Diluted earnings per share	$	0.74	$	0.32

⁽¹⁾ As at March 31, 2019, there were a total of 19,510,830 of potentially dilutive securities excluded from the calculation of Diluted earnings per share. As at March 31, 2018, there were no potentially dilutive securities excluded from the calculation of Diluted earnings per share.