$WTM
WHITE MOUNTAINS INSURANCE GROUP LTD

2020 Q2 Form 10-Q Financial Statement

#000077686720000031 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $259.6M $129.0M
YoY Change 101.24% 5.48%
Cost Of Revenue $2.200M
YoY Change
Gross Profit $257.4M
YoY Change
Gross Profit Margin 99.15%
Selling, General & Admin $106.1M $97.10M
YoY Change 9.27% -24.55%
% of Gross Profit 41.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.600M $2.800M
YoY Change 207.14% 115.38%
% of Gross Profit 3.34%
Operating Expenses $115.0M $102.8M
YoY Change 11.87% -22.53%
Operating Profit $142.4M
YoY Change
Interest Expense -$5.700M -$10.40M
YoY Change -45.19% 420.0%
% of Operating Profit -4.0%
Other Income/Expense, Net
YoY Change
Pretax Income $132.7M $15.80M
YoY Change 739.87% -227.42%
Income Tax $24.10M -$100.0K
% Of Pretax Income 18.16% -0.63%
Net Earnings $115.4M $20.50M
YoY Change 462.93% -237.58%
Net Earnings / Revenue 44.45% 15.89%
Basic Earnings Per Share $37.14 $6.44
Diluted Earnings Per Share $37.14 $6.44
COMMON SHARES
Basic Shares Outstanding 3.064M shares 3.141M shares
Diluted Shares Outstanding 3.064M shares 3.141M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $211.3M $150.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $23.00M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $34.00M $24.00M
YoY Change 41.67%
Goodwill $518.2M $428.6M
YoY Change 20.91% 1554.83%
Intangibles
YoY Change
Long-Term Investments $2.775B $2.670B
YoY Change 3.93% 2.81%
Other Assets $3.000M $3.000M
YoY Change 0.0% 0.0%
Total Long-Term Assets $3.977B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $23.00M
Total Long-Term Assets $3.977B
Total Assets $4.000B $3.752B
YoY Change 6.61% 11.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $67.00M $75.00M
YoY Change -10.67% 141.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.00M $75.00M
YoY Change -6.67% -17.58%
LONG-TERM LIABILITIES
Long-Term Debt $350.0M $231.0M
YoY Change 51.52% 35.88%
Other Long-Term Liabilities $159.0M $132.0M
YoY Change 20.45% 76.0%
Total Long-Term Liabilities $509.0M $363.0M
YoY Change 40.22% 48.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.00M $75.00M
Total Long-Term Liabilities $509.0M $363.0M
Total Liabilities $937.0M $744.3M
YoY Change 25.89% 30.44%
SHAREHOLDERS EQUITY
Retained Earnings $2.589B $2.563B
YoY Change 1.03% 8.29%
Common Stock $587.0M $590.5M
YoY Change -0.59% 2.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.166B $3.144B
YoY Change
Total Liabilities & Shareholders Equity $4.000B $3.752B
YoY Change 6.61% 11.4%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $115.4M $20.50M
YoY Change 462.93% -237.58%
Depreciation, Depletion And Amortization $8.600M $2.800M
YoY Change 207.14% 115.38%
Cash From Operating Activities $20.90M $42.90M
YoY Change -51.28% 122.28%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $81.40M
YoY Change
Other Investing Activities $8.500M -$69.80M
YoY Change -112.18% -115.46%
Cash From Investing Activities $8.500M -$69.80M
YoY Change -112.18% -115.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 45.50M 45.50M
YoY Change 0.0% -109.95%
NET CHANGE
Cash From Operating Activities 20.90M 42.90M
Cash From Investing Activities 8.500M -69.80M
Cash From Financing Activities 45.50M 45.50M
Net Change In Cash 74.90M 18.60M
YoY Change 302.69% 70.64%
FREE CASH FLOW
Cash From Operating Activities $20.90M $42.90M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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69400000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
15300000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
95800000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
89000000.0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-112600000 USD
wtm Members Capital Contribution
MembersCapitalContribution
-31500000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
40000000.0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
149400000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
1100000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
21700000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3200000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3200000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
78500000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
1200000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
27600000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
6400000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
2600000 USD
wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
0 USD
wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
21100000 USD
wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
0 USD
wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
62700000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
2200000 USD
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
1600000 USD
wtm Members Capital Contribution
MembersCapitalContribution
-19900000 USD
wtm Fidus Re Premium Payment
FidusRePremiumPayment
1600000 USD
wtm Fidus Re Premium Payment
FidusRePremiumPayment
1500000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-9800000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4900000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1300000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
151000000.0 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1100000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-200000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
50300000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161000000.0 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110300000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
211300000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
150300000 USD
us-gaap Interest Paid Net
InterestPaidNet
6700000 USD
us-gaap Interest Paid Net
InterestPaidNet
7300000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
200000 USD
us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
-3800000 USD
us-gaap Use Of Estimates
UseOfEstimates
<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 Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
81400000 USD
CY2018Q1 us-gaap Other Commitment
OtherCommitment
125000000.0 USD
CY2019Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
81400000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
15000000.0 USD
CY2020Q1 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.500
CY2020Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.538
CY2020Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
19900000 USD
CY2019Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
21300000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
43100000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
37700000 USD
CY2020Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
300000 USD
CY2019Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
300000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
600000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
700000 USD
CY2020Q2 us-gaap Net Investment Income
NetInvestmentIncome
19600000 USD
CY2019Q2 us-gaap Net Investment Income
NetInvestmentIncome
21000000.0 USD
us-gaap Net Investment Income
NetInvestmentIncome
42500000 USD
us-gaap Net Investment Income
NetInvestmentIncome
37000000.0 USD
CY2020Q2 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
152900000 USD
CY2019Q2 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
35200000 USD
us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
280800000 USD
CY2020Q2 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
2200000 USD
CY2019Q2 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
200000 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
-6500000 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
12400000 USD
wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.68
CY2019 wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.71
CY2019Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2746000000.0 USD
wtm Fair Value Assets Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsMeasuredOnRecurringBasisGainLossIncludedInEarnings
4200000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1900000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
427000000.0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
510000000.0 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
CY2020Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2656900000 USD
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
CY2020Q2 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
518200000 USD
CY2020Q2 us-gaap Goodwill
Goodwill
518200000 USD
CY2019Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
402300000 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
7600000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
394700000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
806000000.0 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
39900000 USD
CY2020Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
759900000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
694400000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
29300000 USD
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
10400000 USD
CY2019Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
654700000 USD
CY2019Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
82500000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
82500000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
349800000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
283500000 USD
CY2020Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
234000000.0 USD
CY2020Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
291.4 USD
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.182
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.042
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
wtm Percentchangeindiscountedfuturecashflows
Percentchangeindiscountedfuturecashflows
0.10
wtm Percentchangeindiscountedfuturecashflows
Percentchangeindiscountedfuturecashflows
0.10
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
115400000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-13300000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
304200000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20500000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13400000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
304900000 USD
CY2020Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1000000.0 USD
CY2019Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
100000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-700000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
116400000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
20500000 USD
CY2020Q2 wtm Aggregate Allocation To Restricted Shares Including Dividend
AggregateAllocationToRestrictedSharesIncludingDividend
1600000 USD
CY2019Q2 wtm Aggregate Allocation To Restricted Shares Including Dividend
AggregateAllocationToRestrictedSharesIncludingDividend
300000 USD
wtm Aggregate Allocation To Restricted Shares Including Dividend
AggregateAllocationToRestrictedSharesIncludingDividend
-100000 USD
wtm Aggregate Allocation To Restricted Shares Including Dividend
AggregateAllocationToRestrictedSharesIncludingDividend
3600000 USD
CY2020Q2 wtm Net Income Loss Attributableto Parent Basicand Diluted Earnings Per Share Numerators
NetIncomeLossAttributabletoParentBasicandDilutedEarningsPerShareNumerators
114800000 USD
CY2019Q2 wtm Net Income Loss Attributableto Parent Basicand Diluted Earnings Per Share Numerators
NetIncomeLossAttributabletoParentBasicandDilutedEarningsPerShareNumerators
20200000 USD
wtm Net Income Loss Attributableto Parent Basicand Diluted Earnings Per Share Numerators
NetIncomeLossAttributabletoParentBasicandDilutedEarningsPerShareNumerators
-13200000 USD
wtm Net Income Loss Attributableto Parent Basicand Diluted Earnings Per Share Numerators
NetIncomeLossAttributabletoParentBasicandDilutedEarningsPerShareNumerators
300600000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
3107500 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
3183500 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
3142800 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
3177800 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
43100 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
42800 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
38500 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
37600 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3064400 shares
CY2020Q2 us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
37.46
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3064400 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3140700 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3140700 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3104300 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3140200 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3107500 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3183500 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3142800 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3177800 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
43100 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
42800 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
38500 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
37600 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3104300 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3140200 shares
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.00
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.00
CY2019Q2 us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
6.44
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
-5.25
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
94.71
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
37.46
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
6.44
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.25
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
95.71
CY2020Q2 wtm Income Loss From Continuing Operatings Excluding Portion Attributable To Noncontrolling Interest Net
IncomeLossFromContinuingOperatingsExcludingPortionAttributableToNoncontrollingInterestNet
114800000 USD
CY2019Q2 wtm Income Loss From Continuing Operatings Excluding Portion Attributable To Noncontrolling Interest Net
IncomeLossFromContinuingOperatingsExcludingPortionAttributableToNoncontrollingInterestNet
20200000 USD
wtm Income Loss From Continuing Operatings Excluding Portion Attributable To Noncontrolling Interest Net
IncomeLossFromContinuingOperatingsExcludingPortionAttributableToNoncontrollingInterestNet
-13200000 USD
wtm Income Loss From Continuing Operatings Excluding Portion Attributable To Noncontrolling Interest Net
IncomeLossFromContinuingOperatingsExcludingPortionAttributableToNoncontrollingInterestNet
300600000 USD
CY2020Q2 wtm Dividends Common Stock Cash Net Of Restricted Common Share Amounts
DividendsCommonStockCashNetOfRestrictedCommonShareAmounts
0 USD
CY2019Q2 wtm Dividends Common Stock Cash Net Of Restricted Common Share Amounts
DividendsCommonStockCashNetOfRestrictedCommonShareAmounts
0 USD
wtm Dividends Common Stock Cash Net Of Restricted Common Share Amounts
DividendsCommonStockCashNetOfRestrictedCommonShareAmounts
3100000 USD
wtm Dividends Common Stock Cash Net Of Restricted Common Share Amounts
DividendsCommonStockCashNetOfRestrictedCommonShareAmounts
3200000 USD
CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
114800000 USD
CY2019Q2 us-gaap Undistributed Earnings
UndistributedEarnings
20200000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-16300000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
297400000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2100000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1800000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4100000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3500000 USD
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
100000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
100000 USD
us-gaap Sublease Income
SubleaseIncome
200000 USD
us-gaap Sublease Income
SubleaseIncome
200000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
2000000.0 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
1700000 USD
us-gaap Lease Cost
LeaseCost
3900000 USD
us-gaap Lease Cost
LeaseCost
3300000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3100000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6800000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6300000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6100000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5200000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
14100000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
41600000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7400000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
34200000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34000000.0 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
34200000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22600000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
22800000 USD
CY2020Q2 us-gaap Minority Interest
MinorityInterest
-102700000 USD
CY2019Q4 us-gaap Minority Interest
MinorityInterest
-116800000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
80200000 USD
CY2020Q2 wtm Other Revenue
OtherRevenue
179400000 USD
CY2020Q2 us-gaap Revenues
Revenues
259600000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
149500000 USD
wtm Other Revenue
OtherRevenue
50900000 USD
us-gaap Revenues
Revenues
200400000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
68000000.0 USD
CY2019Q2 wtm Other Revenue
OtherRevenue
61000000.0 USD
CY2019Q2 us-gaap Revenues
Revenues
129000000.0 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
166800000 USD
wtm Revenuesfrom Contractwith Customerand Products Including Assessed Tax
RevenuesfromContractwithCustomerandProductsIncludingAssessedTax
167400000 USD
wtm Other Revenue
OtherRevenue
395200000 USD
us-gaap Revenues
Revenues
562600000 USD
CY2020Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.538
CY2019Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.500
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
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%;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><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">White Mountains is subject to litigation and arbitration in the normal course of business. White Mountains considers the requirements of ASC 450 when evaluating its exposure to litigation and arbitration. ASC 450 requires that accruals be established for litigation and arbitration if it is probable that a loss has been incurred and it can be reasonably estimated. ASC 450 also requires that litigation and arbitration be disclosed 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 that may have a material adverse effect on White Mountains’s financial condition, results of operations or cash flows. </span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following description presents significant legal contingencies, ongoing non-claims related litigation or arbitration as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">: </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-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Esurance</span></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On October 7, 2011, the Company completed the sale of its Esurance Holdings, Inc. and its subsidiaries and Answer Financial Inc. and its subsidiaries (collectively, “Esurance”) to The Allstate Corporation (“Allstate”) pursuant to a Stock Purchase Agreement dated as of May 17, 2011. Subject to specified thresholds and limits, the Company remains contingently liable to Allstate for specified matters related to the pre-closing period, including (a) losses of Esurance arising from extra-contractual claims and claims in excess of policy limits, (b) certain corporate reorganizations effected to remove entities from Esurance that were not being sold in the transaction, and (c) certain tax matters, including certain net operating losses being less than stated levels. </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%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Sirius Group Tax Contingency</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 of both </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, White Mountains reported a liability of </span><span style="font-family:inherit;font-size:10pt;"><span>$16.5 million</span></span><span style="font-family:inherit;font-size:10pt;">, reflecting the value of these interest deductions. For the three months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</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>$1.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> was related to foreign currency translation and included within net loss on sale of discontinued operations. For the six months ended June 30, 2020, the liability did not change. For the three months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, there was no change in the liability. For the six months ended </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;"> was 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>
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
700000 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
700000 USD

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