Watford Holdings Ltd. Just Filed Its Quarterly Report: The following table ...

The following table sets forth the computation of basic and diluted earnings per common share:
Three Months Ended March 31,
20212020
($ in thousands except share and per share data)
Numerator:
Net income (loss) before preference dividends$41,925 $(266,608)
Preference dividends(1,038)(1,171)
Net income (loss) available to common shareholders40,887 (267,779)
Denominator:
Weighted average common shares outstanding - basic19,892,886 19,951,932 
Effect of dilutive common share equivalents:
Weighted average non-vested restricted share units (1)(2)63,237 — 
Weighted average common shares outstanding - diluted (3)19,956,123 19,951,932 
Earnings (loss) per common share:
Basic $2.06 $(13.42)
Diluted$2.05 $(13.42)
(1) The Company granted restricted share units to certain employees and directors. Non-vested restricted share units as of March 31, 2021 and March 31, 2020, were 95,302 and 131,276, respectively.
(2) The weighted average non-vested restricted share units of 13,727 are excluded from the calculation of diluted weighted average common shares outstanding for the three months ended March 31, 2020, due to a net loss reported. Refer to Note 17, “Share transactions” for further details.
(3) Warrants held by Arch and HPS were not included in the computation of diluted earnings because the exercise price of the warrants exceeded the market price of the common shares during the period and the exercise of the warrants would have been anti-dilutive. These warrants were not exercised and expired on March 25, 2020.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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