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Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2011
Disclosure - Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share

7. Net Income (Loss) per Share

The reconciliation of basic and diluted net income (loss) per share for the three months and six months ended June 30, 2011 and 2010 is as follows (in thousands of U.S. dollars or shares, except per share amounts):

      For the three For the three For the six For the six
      months ended months ended months ended months ended
      June 30, 2011 June 30, 2010 June 30, 2011 June 30, 2010
Numerator:                
 Net income (loss) $124,185  $190,927  $(682,771)  $270,581 
 Less: preferred dividends  (8,631)   (8,631)   (17,263)   (17,263) 
 Net income (loss) available to common shareholders $115,554  $182,296  $(700,034)  $253,318 
                     
Denominator:                
 Weighted number of common shares outstanding - basic  67,628.1   77,365.4   67,811.4   79,519.2 
 Share options and other (1)  814.2    1,431.0   —     1,531.5 
 Weighted average number of common shares and                
  common share equivalents outstanding - diluted  68,442.3   78,796.4   67,811.4   81,050.7 
                     
Basic net income (loss) per share  $ 1.71  $ 2.36  $ (10.32)  $3.19 
Diluted net income (loss) per share(1)  $ 1.69  $ 2.31  $ (10.32)  $3.13 

(1)       Dilutive securities, in the form of share options and other, that could potentially dilute basic net loss per share were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive for the six months ended June 30, 2011. The weighted average number of common and common share equivalents outstanding would have amounted to 68,769.9 thousand shares if these securities had been included for the six months ended June 30, 2011. In addition, at June 30, 2011 and 2010, share based awards to purchase 1,253.6 and 840.4 thousand common shares, respectively, were excluded from the calculation of diluted weighted average number of common shares and common share equivalents outstanding because their exercise prices were greater than the average market price of the common shares.