Net Income Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

6. Net Income per Share

The reconciliation of basic and diluted net income per share for the three months and nine months ended September 30, 2014 and 2013 is as follows (in thousands of U.S. dollars, except share and per share data):

	For the three months ended				For the nine months ended
	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Numerator:
Net income attributable to PartnerRe Ltd.	$	196,398	$	333,423	$	778,082	$	392,221
Less: preferred dividends	14,184		14,184		42,551		43,678
Less: loss on redemption of preferred shares	—		—		—		9,135
Net income attributable to PartnerRe Ltd. common shareholders	$	182,214	$	319,239	$	735,531	$	339,408
Denominator:
Weighted number of common shares outstanding – basic	49,514,980		53,671,245		50,461,749		56,176,260
Share options and other (1)	1,166,345		953,906		1,104,385		1,041,301
Weighted average number of common shares and common share equivalents outstanding – diluted	50,681,325		54,625,151		51,566,134		57,217,561
Basic net income per share	$	3.68	$	5.95	$	14.58	$	6.04
Diluted net income per share (1)	$	3.60	$	5.84	$	14.26	$	5.93
Anti-dilutive common shares excluded from weighted average number of common shares and common share equivalents outstanding - diluted (1)	134,470		140,516		135,681		114,195

(1) Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.