Enstar Group Limited Just Filed Its Quarterly Report: 17. EARNINGS PER SHA...

17. EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted net earnings per ordinary share:
Three Months EndedSix Months Ended
June 30,June 30,
2021202020212020
Numerator:
Earnings per share attributable to Enstar ordinary shareholders:
Net earnings from continuing operations (1)
$377,326 $799,232 $560,523 $283,632 
Net loss from discontinued operations (2)
— (679)— (1,900)
Net earnings attributable to Enstar ordinary shareholders:$377,326 $798,553 $560,523 $281,732 
Denominator:
Weighted-average ordinary shares outstanding — basic (3)
21,631,749 21,565,240 21,597,236 21,557,542 
Effect of dilutive securities:
Share-based compensation plans (4)
200,469 185,300214,849 177,264
Warrants (5)
— 38,70280,65953,525
Weighted-average ordinary shares outstanding — diluted21,832,218 21,789,242 21,892,744 21,788,331 
Earnings per share attributable to Enstar ordinary shareholders:
Basic:
Net earnings from continuing operations$17.44 $37.06 $25.95 $13.16 
Net loss from discontinued operations— (0.03)— (0.09)
Net earnings per ordinary share$17.44 $37.03 $25.95 $13.07 
Diluted:
Net earnings from continuing operations$17.28 $36.68 $25.60 $13.02 
Net loss from discontinued operations— (0.03)— (0.09)
Net earnings per ordinary share$17.28 $36.65 $25.60 $12.93 
(1) Net earnings from continuing operations attributable to Enstar ordinary shareholders equals net earnings from continuing operations, plus net loss (earnings) from continuing operations attributable to noncontrolling interest, less dividends on preferred shares.
(2) Net loss from discontinued operations attributable to Enstar ordinary shareholders equals net loss from discontinued operations, net of income tax benefit (expense), plus net loss from discontinued operations attributable to noncontrolling interest; refer to Note 3 - "Divestitures, Held-for-Sale Businesses and Discontinued Operations" for a breakdown by period.
(3) Weighted-average ordinary shares for basic earnings per share includes ordinary shares (voting and non-voting) but excludes ordinary shares held in the Enstar Group Limited Employee Benefit Trust (the "EB Trust") in respect of Joint Share Ownership Plan ("JSOP") awards.
(4) Share-based dilutive securities include restricted shares, restricted share units, and performance share units. Certain share-based compensation awards, including the ordinary shares held in the EB Trust in respect of JSOP awards, were excluded from the calculation for the three and six months ended June 30, 2021 and 2020 because they were anti-dilutive.
(5) Warrants to acquire 175,901 Series C Non-Voting Ordinary Shares for an exercise price of $115.00 per share were exercised on a non-cash basis during the six months ended June 30, 2021, which resulted in a total of 89,590 Series C Non-Voting Ordinary Shares being issued in the period. As of June 30, 2021, there were no warrants outstanding following the exercise described. The warrants presented in the table above are a weighted-average of the warrants outstanding for the period.

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

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