2019 Q2 Form 10-Q Financial Statement

#000077686719000024 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q2
Revenue $129.0M $433.6M $122.3M
YoY Change 5.48% 929.93% 46.47%
Cost Of Revenue $61.00M
YoY Change 127.61%
Gross Profit $61.30M
YoY Change 8.11%
Gross Profit Margin 50.12%
Selling, General & Admin $97.10M $138.8M $128.7M
YoY Change -24.55% 34.63% 57.53%
% of Gross Profit 209.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.800M $8.300M $1.300M
YoY Change 115.38% 72.92% 44.44%
% of Gross Profit 2.12%
Operating Expenses $102.8M $146.7M $132.7M
YoY Change -22.53% 36.47% 55.75%
Operating Profit -$71.40M
YoY Change 150.53%
Interest Expense -$10.40M -$5.200M -$2.000M
YoY Change 420.0% 766.67% 300.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $15.80M $281.7M -$12.40M
YoY Change -227.42% -526.82% 463.64%
Income Tax -$100.0K $10.20M $2.500M
% Of Pretax Income -0.63% 3.62%
Net Earnings $20.50M $272.2M -$14.90M
YoY Change -237.58% -508.71% -1031.25%
Net Earnings / Revenue 15.89% 62.78% -12.18%
Basic Earnings Per Share $6.44 $89.64 $1.02
Diluted Earnings Per Share $6.44 $89.64 $1.02
COMMON SHARES
Basic Shares Outstanding 3.141M shares 3.140M shares 3.391M shares
Diluted Shares Outstanding 3.141M shares 3.140M shares 3.391M shares

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $150.3M $132.2M $131.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $24.00M $22.00M
YoY Change
Goodwill $428.6M $349.7M $25.90M
YoY Change 1554.83% 1250.19% 0.0%
Intangibles
YoY Change
Long-Term Investments $2.670B $2.804B $2.597B
YoY Change 2.81% -14.93% -3.56%
Other Assets $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% -99.92%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.752B $3.630B $3.368B
YoY Change 11.4% 1.19% -50.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $75.00M $58.00M $31.00M
YoY Change 141.94% 75.76% -50.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $75.00M $64.00M $91.00M
YoY Change -17.58% -40.19% -48.88%
LONG-TERM LIABILITIES
Long-Term Debt $231.0M $195.0M $170.0M
YoY Change 35.88% 786.36% 1445.45%
Other Long-Term Liabilities $132.0M $119.0M $75.00M
YoY Change 76.0% 417.39% -97.25%
Total Long-Term Liabilities $363.0M $314.0M $245.0M
YoY Change 48.16% 597.78% -91.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $75.00M $64.00M $91.00M
Total Long-Term Liabilities $363.0M $314.0M $245.0M
Total Liabilities $744.3M $651.4M $570.6M
YoY Change 30.44% 123.7% -81.12%
SHAREHOLDERS EQUITY
Retained Earnings $2.563B $2.542B $2.367B
YoY Change 8.29% -8.05% -16.53%
Common Stock $590.5M $585.8M $575.8M
YoY Change 2.55% -13.25% -29.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.144B $3.122B $2.940B
YoY Change
Total Liabilities & Shareholders Equity $3.752B $3.630B $3.368B
YoY Change 11.4% 1.19% -50.37%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income $20.50M $272.2M -$14.90M
YoY Change -237.58% -508.71% -1031.25%
Depreciation, Depletion And Amortization $2.800M $8.300M $1.300M
YoY Change 115.38% 72.92% 44.44%
Cash From Operating Activities $42.90M -$41.10M $19.30M
YoY Change 122.28% -8.05% -75.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.300M
YoY Change 2200.0%
Acquisitions $81.40M
YoY Change
Other Investing Activities -$69.80M $17.40M $451.4M
YoY Change -115.46% 17300.0% -700.27%
Cash From Investing Activities -$69.80M -$42.80M $449.1M
YoY Change -115.54% -155.3% -696.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 45.50M $105.5M -457.5M
YoY Change -109.95% -1198.96% 19791.3%
NET CHANGE
Cash From Operating Activities 42.90M -$41.10M 19.30M
Cash From Investing Activities -69.80M -$42.80M 449.1M
Cash From Financing Activities 45.50M $105.5M -457.5M
Net Change In Cash 18.60M $21.60M 10.90M
YoY Change 70.64% -6.49% -2825.0%
FREE CASH FLOW
Cash From Operating Activities $42.90M -$41.10M $19.30M
Capital Expenditures -$2.300M
Free Cash Flow $21.60M
YoY Change -72.06%

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ProceedsFromMaturitiesOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
97000000.0 USD
wtm Proceeds From Sale Of Trading Common Equity Securities
ProceedsFromSaleOfTradingCommonEquitySecurities
360100000 USD
wtm Proceeds From Sale Of Trading Common Equity Securities
ProceedsFromSaleOfTradingCommonEquitySecurities
119000000.0 USD
us-gaap Payments For Proceeds From Investments
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us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
6700000 USD
wtm Distributionfrom Contributionsto Discontinued Operationsfor Investing Activities
DistributionfromContributionstoDiscontinuedOperationsforInvestingActivities
0 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
47100000 USD
wtm Payments To Acquire Trading Common Equity Securities
PaymentsToAcquireTradingCommonEquitySecurities
4700000 USD
wtm Payments To Acquire Trading Common Equity Securities
PaymentsToAcquireTradingCommonEquitySecurities
163200000 USD
wtm Payments To Acquire Trading Fixed Maturity And Convertible Fixed Maturity Investments
PaymentsToAcquireTradingFixedMaturityAndConvertibleFixedMaturityInvestments
297400000 USD
wtm Payments To Acquire Trading Fixed Maturity And Convertible Fixed Maturity Investments
PaymentsToAcquireTradingFixedMaturityAndConvertibleFixedMaturityInvestments
691600000 USD
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
243400000 USD
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
252100000 USD
wtm Increase Decrease In Unsettled Accounts Receivable And Accounts Payable
IncreaseDecreaseInUnsettledAccountsReceivableAndAccountsPayable
-95800000 USD
wtm Increase Decrease In Unsettled Accounts Receivable And Accounts Payable
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36200000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-112600000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
526600000 USD
us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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0 USD
us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-100000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-112600000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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526500000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
149400000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
50900000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
21700000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
6100000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3200000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3800000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
504700000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
27600000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
3100000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
2600000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
2600000 USD
wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
21100000 USD
wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
0 USD
wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
62700000 USD
wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
0 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
1600000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
0 USD
wtm Members Capital Contribution
MembersCapitalContribution
-19900000 USD
wtm Members Capital Contribution
MembersCapitalContribution
-14800000 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
0 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
1700000 USD
wtm Fidus Re Premium Payment
FidusRePremiumPayment
1500000 USD
wtm Fidus Re Premium Payment
FidusRePremiumPayment
2400000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4900000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8400000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
151000000.0 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-467100000 USD
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
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151000000.0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-467100000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-200000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
40000000.0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
34000000.0 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
110300000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
97100000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
150300000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
131100000 USD
us-gaap Interest Paid
InterestPaid
7300000 USD
us-gaap Interest Paid
InterestPaid
700000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
200000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
us-gaap Use Of Estimates
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<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>
CY2019Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
21300000 USD
CY2018Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
12400000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
37700000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
32800000 USD
CY2019Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
300000 USD
CY2018Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
600000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
700000 USD
us-gaap Investment Income Investment Expense
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1300000 USD
CY2019Q2 us-gaap Net Investment Income
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21000000.0 USD
CY2018Q2 us-gaap Net Investment Income
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11800000 USD
us-gaap Net Investment Income
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37000000.0 USD
us-gaap Net Investment Income
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31500000 USD
CY2019Q2 wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
45500000 USD
CY2018Q2 wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
1400000 USD
wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
71200000 USD
wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
-3700000 USD
CY2019Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-10300000 USD
CY2018Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
9100000 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
209600000 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-39500000 USD
CY2019Q2 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
35200000 USD
CY2018Q2 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
10500000 USD
us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
280800000 USD
us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
-43200000 USD
CY2019Q2 wtm Taxonnetrealizedandunrealizedgainslosstradingsecurities
Taxonnetrealizedandunrealizedgainslosstradingsecurities
4100000 USD
CY2018Q2 wtm Taxonnetrealizedandunrealizedgainslosstradingsecurities
Taxonnetrealizedandunrealizedgainslosstradingsecurities
1900000 USD
wtm Taxonnetrealizedandunrealizedgainslosstradingsecurities
Taxonnetrealizedandunrealizedgainslosstradingsecurities
56300000 USD
wtm Taxonnetrealizedandunrealizedgainslosstradingsecurities
Taxonnetrealizedandunrealizedgainslosstradingsecurities
-3800000 USD
CY2019Q2 wtm Net Realizedand Unrealized Gain Losson Trading Securities Netof Tax
NetRealizedandUnrealizedGainLossonTradingSecuritiesNetofTax
31100000 USD
CY2018Q2 wtm Net Realizedand Unrealized Gain Losson Trading Securities Netof Tax
NetRealizedandUnrealizedGainLossonTradingSecuritiesNetofTax
8600000 USD
wtm Net Realizedand Unrealized Gain Losson Trading Securities Netof Tax
NetRealizedandUnrealizedGainLossonTradingSecuritiesNetofTax
224500000 USD
wtm Net Realizedand Unrealized Gain Losson Trading Securities Netof Tax
NetRealizedandUnrealizedGainLossonTradingSecuritiesNetofTax
-39400000 USD
CY2019Q2 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
45500000 USD
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
0 USD
CY2019Q2 wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
45500000 USD
CY2018Q2 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
1400000 USD
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
0 USD
CY2018Q2 wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
1400000 USD
CY2019Q2 wtm Tradingsecurities Taxon Realized Holding Gain Losson Investments
TradingsecuritiesTaxonRealizedHoldingGainLossonInvestments
7100000 USD
CY2019Q2 wtm Trading Securities Taxon Realized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesTaxonRealizedForeignCurrencyTransactionGainLossTax
0 USD
CY2019Q2 wtm Taxon Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities
TaxonNetRealizedGainLossandForeignCurrencyGainLossonTradingSecurities
7100000 USD
CY2018Q2 wtm Tradingsecurities Taxon Realized Holding Gain Losson Investments
TradingsecuritiesTaxonRealizedHoldingGainLossonInvestments
-9400000 USD
CY2018Q2 wtm Trading Securities Taxon Realized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesTaxonRealizedForeignCurrencyTransactionGainLossTax
0 USD
CY2018Q2 wtm Taxon Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities
TaxonNetRealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-9400000 USD
CY2019Q2 wtm Trading Securities Realized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesRealizedHoldingGainLossonInvestmentsafterTax
38400000 USD
CY2019Q2 wtm Trading Securities Realized Foreign Currency Gain Loss Netof Tax
TradingSecuritiesRealizedForeignCurrencyGainLossNetofTax
0 USD
CY2019Q2 wtm Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities Netof Tax
NetRealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesNetofTax
38400000 USD
CY2018Q2 wtm Trading Securities Realized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesRealizedHoldingGainLossonInvestmentsafterTax
10800000 USD
CY2018Q2 wtm Trading Securities Realized Foreign Currency Gain Loss Netof Tax
TradingSecuritiesRealizedForeignCurrencyGainLossNetofTax
0 USD
CY2018Q2 wtm Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities Netof Tax
NetRealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesNetofTax
10800000 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
71200000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
0 USD
wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
71200000 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
-14700000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
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11000000.0 USD
wtm Trading Securities Realized Gain Loss Total
TradingSecuritiesRealizedGainLossTotal
-3700000 USD
wtm Tradingsecurities Taxon Realized Holding Gain Losson Investments
TradingsecuritiesTaxonRealizedHoldingGainLossonInvestments
8800000 USD
wtm Trading Securities Taxon Realized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesTaxonRealizedForeignCurrencyTransactionGainLossTax
0 USD
wtm Taxon Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities
TaxonNetRealizedGainLossandForeignCurrencyGainLossonTradingSecurities
8800000 USD
wtm Tradingsecurities Taxon Realized Holding Gain Losson Investments
TradingsecuritiesTaxonRealizedHoldingGainLossonInvestments
-8900000 USD
wtm Trading Securities Taxon Realized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesTaxonRealizedForeignCurrencyTransactionGainLossTax
0 USD
wtm Taxon Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities
TaxonNetRealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-8900000 USD
wtm Trading Securities Realized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesRealizedHoldingGainLossonInvestmentsafterTax
62400000 USD
wtm Trading Securities Realized Foreign Currency Gain Loss Netof Tax
TradingSecuritiesRealizedForeignCurrencyGainLossNetofTax
0 USD
wtm Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities Netof Tax
NetRealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesNetofTax
62400000 USD
wtm Trading Securities Realized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesRealizedHoldingGainLossonInvestmentsafterTax
-5800000 USD
wtm Trading Securities Realized Foreign Currency Gain Loss Netof Tax
TradingSecuritiesRealizedForeignCurrencyGainLossNetofTax
11000000.0 USD
wtm Net Realized Gain Lossand Foreign Currency Gain Losson Trading Securities Netof Tax
NetRealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesNetofTax
5200000 USD
CY2019Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-10600000 USD
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
300000 USD
CY2019Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-10300000 USD
CY2018Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
9900000 USD
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-800000 USD
CY2018Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
9100000 USD
CY2019Q2 wtm Trading Securities Taxon Unrealized Holding Gain Losson Investments
TradingSecuritiesTaxonUnrealizedHoldingGainLossonInvestments
-3000000.0 USD
CY2019Q2 wtm Trading Securities Unrealized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesUnrealizedForeignCurrencyTransactionGainLossTax
0 USD
CY2019Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities Tax
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesTax
-3000000.0 USD
CY2018Q2 wtm Trading Securities Taxon Unrealized Holding Gain Losson Investments
TradingSecuritiesTaxonUnrealizedHoldingGainLossonInvestments
11400000 USD
CY2018Q2 wtm Trading Securities Unrealized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesUnrealizedForeignCurrencyTransactionGainLossTax
-100000 USD
CY2018Q2 wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities Tax
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesTax
11300000 USD
CY2019Q2 wtm Trading Securities Unrealized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesUnrealizedHoldingGainLossonInvestmentsafterTax
-7600000 USD
CY2019Q2 wtm Trading Securities Unrealized Foreign Currency Gain Loss Net Of Tax
TradingSecuritiesUnrealizedForeignCurrencyGainLossNetOfTax
300000 USD
CY2019Q2 wtm Net Unrealized Gain Loss And Foreign Currency Gain Loss On Trading Securities Net Of Tax
NetUnrealizedGainLossAndForeignCurrencyGainLossOnTradingSecuritiesNetOfTax
-7300000 USD
CY2018Q2 wtm Trading Securities Unrealized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesUnrealizedHoldingGainLossonInvestmentsafterTax
-1500000 USD
CY2018Q2 wtm Trading Securities Unrealized Foreign Currency Gain Loss Net Of Tax
TradingSecuritiesUnrealizedForeignCurrencyGainLossNetOfTax
-700000 USD
CY2018Q2 wtm Net Unrealized Gain Loss And Foreign Currency Gain Loss On Trading Securities Net Of Tax
NetUnrealizedGainLossAndForeignCurrencyGainLossOnTradingSecuritiesNetOfTax
-2200000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
209600000 USD
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
0 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
209600000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-28000000.0 USD
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-11500000 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecurities
-39500000 USD
wtm Trading Securities Taxon Unrealized Holding Gain Losson Investments
TradingSecuritiesTaxonUnrealizedHoldingGainLossonInvestments
-47500000 USD
wtm Trading Securities Unrealized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesUnrealizedForeignCurrencyTransactionGainLossTax
0 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities Tax
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesTax
-47500000 USD
wtm Trading Securities Taxon Unrealized Holding Gain Losson Investments
TradingSecuritiesTaxonUnrealizedHoldingGainLossonInvestments
5100000 USD
wtm Trading Securities Unrealized Foreign Currency Transaction Gain Loss Tax
TradingSecuritiesUnrealizedForeignCurrencyTransactionGainLossTax
0 USD
wtm Net Unrealized Gain Lossand Foreign Currency Gain Losson Trading Securities Tax
NetUnrealizedGainLossandForeignCurrencyGainLossonTradingSecuritiesTax
5100000 USD
wtm Trading Securities Unrealized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesUnrealizedHoldingGainLossonInvestmentsafterTax
162100000 USD
wtm Trading Securities Unrealized Foreign Currency Gain Loss Net Of Tax
TradingSecuritiesUnrealizedForeignCurrencyGainLossNetOfTax
0 USD
wtm Net Unrealized Gain Loss And Foreign Currency Gain Loss On Trading Securities Net Of Tax
NetUnrealizedGainLossAndForeignCurrencyGainLossOnTradingSecuritiesNetOfTax
162100000 USD
wtm Trading Securities Unrealized Holding Gain Losson Investmentsafter Tax
TradingSecuritiesUnrealizedHoldingGainLossonInvestmentsafterTax
-33100000 USD
wtm Trading Securities Unrealized Foreign Currency Gain Loss Net Of Tax
TradingSecuritiesUnrealizedForeignCurrencyGainLossNetOfTax
-11500000 USD
wtm Net Unrealized Gain Loss And Foreign Currency Gain Loss On Trading Securities Net Of Tax
NetUnrealizedGainLossAndForeignCurrencyGainLossOnTradingSecuritiesNetOfTax
-44600000 USD
wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.75
CY2018 wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.87
CY2018Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2328700000 USD
wtm Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsMeasuredOnRecurringBasisGainLossIncludedInEarnings
-280600000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
600000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
541300000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
667000000.0 USD
wtm Fair Value Assets Measured On Recurring Basis Transfers In
FairValueAssetsMeasuredOnRecurringBasisTransfersIn
82600000 USD
wtm Fair Value Assets Measured On Recurring Basis Transfers Out
FairValueAssetsMeasuredOnRecurringBasisTransfersOut
82600000 USD
CY2019Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2483000000.0 USD
CY2017Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
3208300000 USD
wtm Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsMeasuredOnRecurringBasisGainLossIncludedInEarnings
34900000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1800000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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901800000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
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1798000000.0 USD
wtm Fair Value Assets Measured On Recurring Basis Transfers In
FairValueAssetsMeasuredOnRecurringBasisTransfersIn
0 USD
wtm Fair Value Assets Measured On Recurring Basis Transfers Out
FairValueAssetsMeasuredOnRecurringBasisTransfersOut
0 USD
CY2018Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2275400000 USD
CY2019Q1 us-gaap Goodwill
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349700000 USD
CY2018Q1 us-gaap Goodwill
Goodwill
25900000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
379900000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
25900000 USD
CY2019Q2 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
428600000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
428600000 USD
CY2018Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
379900000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
379900000 USD
CY2019Q2 wtm Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
685500000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17900000 USD
CY2019Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
667600000 USD
CY2018Q4 wtm Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
591100000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
53600000 USD
CY2018Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
537500000 USD
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
230500000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
192700000 USD
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.034
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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us-gaap Loss Contingency Disclosures
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Contingencies<div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">NSM Contingent Liability </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In connection with White Mountains’s acquisition of NSM, White Mountains and NSM entered into an agreement with AIG to help facilitate a sale of NSM’s U.S. collector car renewal rights owned by AIG to a third party by December 31, 2019. Under the terms of the agreement, if the Renewal Rights were not sold by December 31, 2019, AIG had the right to require NSM to purchase the Renewal Rights for </span><span style="font-family:inherit;font-size:10pt;"><span>$82.5 million</span></span><span style="font-family:inherit;font-size:10pt;">. On June 28, 2019, NSM acquired the Renewal Rights from AIG for </span><span style="font-family:inherit;font-size:10pt;"><span>$82.5 million</span></span><span style="font-family:inherit;font-size:10pt;">. The transaction satisfied NSM’s obligation to acquire the Renewal Rights from AIG.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Sirius Group Tax Contingency</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A subsidiary of Sirius Group, which was sold by White Mountains in 2016, has been denied interest deductions by the Swedish Tax Authority (“STA”) for tax years 2013-2016.  In October 2018, the Swedish Administrative Court ruled against Sirius Group on its appeal of the Swedish Tax Agency’s denial of certain interest deductions relating to periods prior to the sale of Sirius Group to CMI. In connection with the sale, White Mountains indemnified Sirius Group against the loss of certain tax attributes, including those related to these interest deductions. As a result, as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and December 31, 2018, White Mountains reported a liability of </span><span style="font-family:inherit;font-size:10pt;"><span>$16.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$17.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, reflecting the value of these interest deductions. For the </span><span style="font-family:inherit;font-size:10pt;">three and six months ended</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, the change in the liability of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> is related to foreign currency translation and included within net gain on sale of discontinued operations. Sirius Group has appealed the decision to the Swedish Administrative Court of Appeal.</span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Legal Contingencies</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">White Mountains is subject to litigation and arbitration in the normal course of business. White Mountains recognizes an accrual for litigation and arbitration if it is probable that a loss has been incurred and the amount can be reasonably estimated. White Mountains discloses litigation and arbitration if it is probable that a loss has been incurred or if there is a reasonable possibility that a loss may have been incurred. White Mountains does not have any current litigation as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span> that is deemed probable of having a material adverse effect on White Mountains’s financial condition, results of operations or cash flows.

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