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Net Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2012
Disclosure - Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share

6. Net Income (Loss) per Share

The reconciliation of basic and diluted net income (loss) per share for the three months and nine months ended September 30, 2012 and 2011 is as follows (in thousands of U.S. dollars or shares, except per share amounts):

      For the three For the three  For the nine For the nine 
      months ended months ended  months ended months ended 
      September 30, 2012 September 30, 2011  September 30, 2012 September 30, 2011 
Numerator:                  
 Net income (loss)  $486,706  $180,123   $1,022,994  $(502,648)  
 Less: preferred dividends  (15,405)   (14,352)    (46,216)   (31,614)  
 Net income (loss) available to common shareholders $471,301  $165,771   $976,778  $(534,262)  
                       
Denominator:                  
 Weighted number of common shares outstanding - basic  61,837.3   67,743.3    63,679.1   67,788.4  
 Share options and other (1)  769.5   438.7    605.0    -  
 Weighted average number of common shares and                  
  common share equivalents outstanding - diluted  62,606.8   68,182.0    64,284.1   67,788.4  
                       
Basic net income (loss) per share  $ 7.62  $2.45   $ 15.34  $(7.88)  
Diluted net income (loss) per share(1)  $ 7.53  $2.43   $ 15.19  $(7.88)  

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(1)       At September 30, 2012 and 2011, share based awards to purchase 1,233.3 thousand and 2,996.1 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. In addition, dilutive securities, in the form of share options and other, of 785.2 thousand shares were not included in the weighted average number of common shares and common share equivalents outstanding for the purpose of computing the diluted net loss per share because to do so would have been anti-dilutive for the nine months ended September 30, 2011.