2021 Q4 Form 10-K Financial Statement

#000077686722000002 Filed on February 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $350.0M $944.8M $520.8M
YoY Change -32.8% -19.98% 197.09%
Cost Of Revenue $69.30M
YoY Change 513.27%
Gross Profit $875.5M
YoY Change -25.13%
Gross Profit Margin 92.67%
Selling, General & Admin $167.7M $632.4M $144.0M
YoY Change 16.46% 35.24% 31.75%
% of Gross Profit 72.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.90M $63.60M $14.40M
YoY Change 170.14% 46.54% 54.84%
% of Gross Profit 7.26%
Operating Expenses $302.0M $1.174B $156.9M
YoY Change 92.48% 133.32% 33.65%
Operating Profit -$298.8M
YoY Change -144.86%
Interest Expense -$11.30M -$43.80M -$6.600M
YoY Change 71.21% 67.18% 371.43%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $36.70M -$302.0M $357.3M
YoY Change -89.73% -146.81% 532.39%
Income Tax -$3.300M $38.60M -$117.6M
% Of Pretax Income -8.99% -32.91%
Net Earnings $32.80M -$321.9M $489.2M
YoY Change -93.3% -148.52% 703.28%
Net Earnings / Revenue 9.37% -34.07% 93.93%
Basic Earnings Per Share -$89.46 $157.70
Diluted Earnings Per Share $10.49M -$89.46 $157.70
COMMON SHARES
Basic Shares Outstanding 3.018M shares 3.043M shares 3.102M shares
Diluted Shares Outstanding 3.043M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $147.7M $84.60M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.000M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $42.20M $42.20M $38.00M
YoY Change 11.05% 11.05% 65.22%
Goodwill $142.3M $525.5M
YoY Change -72.92% 33.14%
Intangibles $198.2M
YoY Change
Long-Term Investments $4.265B $4.265B $2.939B
YoY Change 45.13% 45.13% -0.27%
Other Assets $16.10M $16.10M $649.0M
YoY Change -97.52% -97.52% 21533.33%
Total Long-Term Assets $4.828B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.000M
Total Long-Term Assets $4.828B
Total Assets $7.001B $7.001B $4.831B
YoY Change 44.9% 44.91% 21.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $118.4M $118.4M $134.0M
YoY Change -11.64% -11.64% 34.0%
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 $118.4M $118.4M $134.0M
YoY Change -11.64% -11.64% 34.0%
LONG-TERM LIABILITIES
Long-Term Debt $693.0M $693.0M $376.0M
YoY Change 84.31% 84.31% 32.39%
Other Long-Term Liabilities $267.7M $267.7M $152.0M
YoY Change 76.12% 76.12% -1.94%
Total Long-Term Liabilities $960.7M $960.7M $528.0M
YoY Change 81.95% 81.95% 20.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $118.4M $118.4M $134.0M
Total Long-Term Liabilities $960.7M $960.7M $528.0M
Total Liabilities $3.296B $3.453B $1.014B
YoY Change 225.21% 273.25% 20.87%
SHAREHOLDERS EQUITY
Retained Earnings $2.958B $3.311B
YoY Change -10.68% 23.9%
Common Stock $588.9M $595.2M
YoY Change -1.06% -0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.548B $3.548B $3.906B
YoY Change
Total Liabilities & Shareholders Equity $7.001B $7.001B $4.831B
YoY Change 44.9% 44.91% 21.29%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $32.80M -$321.9M $489.2M
YoY Change -93.3% -148.52% 703.28%
Depreciation, Depletion And Amortization $38.90M $63.60M $14.40M
YoY Change 170.14% 46.54% 54.84%
Cash From Operating Activities -$7.400M $38.60M -$72.80M
YoY Change -89.84% -163.7% 51.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions -$10.60M
YoY Change
Other Investing Activities -$38.90M -$2.500M $36.60M
YoY Change -206.28% -725.0% 6000.0%
Cash From Investing Activities -$38.90M -$208.3M $36.60M
YoY Change -206.28% -422.45% 6000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $100.1M
YoY Change 27.52%
Debt Paid & Issued, Net $120.1M
YoY Change
Cash From Financing Activities -4.700M $217.6M 35.20M
YoY Change -113.35% 344.08% -39.1%
NET CHANGE
Cash From Operating Activities -7.400M $38.60M -72.80M
Cash From Investing Activities -38.90M -$208.3M 36.60M
Cash From Financing Activities -4.700M $217.6M 35.20M
Net Change In Cash -51.00M $48.10M -1.000M
YoY Change 5000.0% -4.18% -109.62%
FREE CASH FLOW
Cash From Operating Activities -$7.400M $38.60M -$72.80M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2019 wtm Increase Decrease In Restricted Cash Operating Activities
IncreaseDecreaseInRestrictedCashOperatingActivities
-6300000 USD
CY2021 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
178900000 USD
CY2020 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
118300000 USD
CY2019 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
118400000 USD
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-24200000 USD
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-30900000 USD
CY2019 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-20400000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
38600000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60600000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-120500000 USD
CY2021 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-54300000 USD
CY2020 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-58700000 USD
CY2019 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-21900000 USD
CY2021 wtm Proceeds From Sale Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromSaleOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
283600000 USD
CY2020 wtm Proceeds From Sale Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromSaleOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
390000000.0 USD
CY2019 wtm Proceeds From Sale Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromSaleOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
334300000 USD
CY2021 wtm Proceeds From Maturities Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromMaturitiesOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
199000000.0 USD
CY2020 wtm Proceeds From Maturities Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromMaturitiesOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
180400000 USD
CY2019 wtm Proceeds From Maturities Of Trading Fixed Maturity And Convertible Fixed Maturity Investments
ProceedsFromMaturitiesOfTradingFixedMaturityAndConvertibleFixedMaturityInvestments
119300000 USD
CY2021 wtm Proceeds From Sale Of Trading Common Equity Securities
ProceedsFromSaleOfTradingCommonEquitySecurities
176800000 USD
CY2020 wtm Proceeds From Sale Of Trading Common Equity Securities
ProceedsFromSaleOfTradingCommonEquitySecurities
787900000 USD
CY2019 wtm Proceeds From Sale Of Trading Common Equity Securities
ProceedsFromSaleOfTradingCommonEquitySecurities
467200000 USD
CY2021 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
106400000 USD
CY2020 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
69900000 USD
CY2019 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
29400000 USD
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
218000000.0 USD
CY2020 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
76800000 USD
CY2019 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
177700000 USD
CY2021 wtm Payments To Acquire Trading Common Equity Securities
PaymentsToAcquireTradingCommonEquitySecurities
203400000 USD
CY2020 wtm Payments To Acquire Trading Common Equity Securities
PaymentsToAcquireTradingCommonEquitySecurities
33800000 USD
CY2019 wtm Payments To Acquire Trading Common Equity Securities
PaymentsToAcquireTradingCommonEquitySecurities
29800000 USD
CY2021 wtm Payments To Acquire Trading Fixed Maturity And Convertible Fixed Maturity Investments
PaymentsToAcquireTradingFixedMaturityAndConvertibleFixedMaturityInvestments
1216700000 USD
CY2020 wtm Payments To Acquire Trading Fixed Maturity And Convertible Fixed Maturity Investments
PaymentsToAcquireTradingFixedMaturityAndConvertibleFixedMaturityInvestments
537700000 USD
CY2019 wtm Payments To Acquire Trading Fixed Maturity And Convertible Fixed Maturity Investments
PaymentsToAcquireTradingFixedMaturityAndConvertibleFixedMaturityInvestments
539200000 USD
CY2021 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
52200000 USD
CY2020 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
13400000 USD
CY2019 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
12800000 USD
CY2021 wtm Restricted Cash Acquired From Acquisition
RestrictedCashAcquiredFromAcquisition
0.0 USD
CY2020 wtm Restricted Cash Acquired From Acquisition
RestrictedCashAcquiredFromAcquisition
8400000 USD
CY2019 wtm Restricted Cash Acquired From Acquisition
RestrictedCashAcquiredFromAcquisition
0.0 USD
CY2021 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
39100000 USD
CY2020 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
127300000 USD
CY2019 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
258000000.0 USD
CY2021 wtm Proceeds From Release Of Cash Placed In Escrow
ProceedsFromReleaseOfCashPlacedInEscrow
646300000 USD
CY2020 wtm Proceeds From Release Of Cash Placed In Escrow
ProceedsFromReleaseOfCashPlacedInEscrow
-646300000 USD
CY2019 wtm Proceeds From Release Of Cash Placed In Escrow
ProceedsFromReleaseOfCashPlacedInEscrow
0 USD
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2500000 USD
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
400000 USD
CY2019 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
27300000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-208300000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
64600000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59900000 USD
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
436700000 USD
CY2020 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
84600000 USD
CY2019 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
206400000 USD
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
154700000 USD
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
4500000 USD
CY2019 us-gaap Repayments Of Debt
RepaymentsOfDebt
22900000 USD
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3100000 USD
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3200000 USD
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3200000 USD
CY2021 wtm Acquisitions Of Subsidiary Shares From Non Controlling Interest Shareholders
AcquisitionsOfSubsidiarySharesFromNonControllingInterestShareholders
-6500000 USD
CY2020 wtm Acquisitions Of Subsidiary Shares From Non Controlling Interest Shareholders
AcquisitionsOfSubsidiarySharesFromNonControllingInterestShareholders
0 USD
CY2019 wtm Acquisitions Of Subsidiary Shares From Non Controlling Interest Shareholders
AcquisitionsOfSubsidiarySharesFromNonControllingInterestShareholders
0 USD
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100100000 USD
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
78500000 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2021 wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
400000 USD
CY2020 wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
500000 USD
CY2019 wtm Repurchaseof Shares From Noncontrolling Interest Shareholders
RepurchaseofSharesFromNoncontrollingInterestShareholders
21100000 USD
CY2019 wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
62700000 USD
CY2021 wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
0 USD
CY2020 wtm Proceeds From Issuanceof Sharesto Noncontrolling Interest Shareholders
ProceedsFromIssuanceofSharestoNoncontrollingInterestShareholders
0 USD
CY2019 wtm Members Capital Contribution
MembersCapitalContribution
54600000 USD
CY2021 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
1500000 USD
CY2020 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
1700000 USD
CY2019 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-26200000 USD
CY2021 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
CY2020 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7000000.0 USD
CY2019 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7600000 USD
CY2021 wtm Members Capital Contribution
MembersCapitalContribution
62200000 USD
CY2020 wtm Members Capital Contribution
MembersCapitalContribution
68900000 USD
CY2021 wtm Fidus Re Premium Payment
FidusRePremiumPayment
8800000 USD
CY2020 wtm Fidus Re Premium Payment
FidusRePremiumPayment
3000000.0 USD
CY2019 wtm Fidus Re Premium Payment
FidusRePremiumPayment
3000000.0 USD
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-22200000 USD
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-9500000 USD
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-9200000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
217600000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
49000000.0 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
230500000 USD
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200000 USD
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2800000 USD
CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
600000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
48100000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
50200000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
50700000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
78400000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
56300000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
50000000.0 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
211200000 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
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
93700000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
78400000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
56300000 USD
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
700000 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0.0 USD
CY2019Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0.0 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259300000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
211200000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161000000.0 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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>
CY2021 wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.68
CY2021 wtm Fair Value Measurements Variance Thresholdfor Outliers
FairValueMeasurementsVarianceThresholdforOutliers
500000 USD
CY2021 wtm Fair Value Measurements Variance Thresholdfor Outliers Percent
FairValueMeasurementsVarianceThresholdforOutliersPercent
0.05
CY2021Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
1400000000 USD
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
5100000 USD
CY2021 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivatives </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, White Mountains holds derivative financial instruments for risk management purposes. White Mountains recognizes all derivatives as either assets or liabilities, measured at fair value, on its consolidated balance sheet. Changes in the fair value of derivative instruments that meet the criteria for hedge accounting are recognized in other comprehensive income (loss) and reclassified into current period pre-tax income (loss) when the hedged items are recognized therein. Changes in the fair value of derivative instruments that do not meet the criteria for hedge accounting are recognized in current period pre-tax income (loss).</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2021 and 2020, White Mountains holds interest rate cap derivative instruments that do not meet the criteria for hedge accounting. As of December 31, 2021 and 2020, White Mountains holds an interest rate swap derivative instrument that meets the criteria for hedge accounting. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 9 — “Derivatives”</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div>
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
5600000 USD
CY2018Q4 wtm Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Goodwilland Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedGoodwillandIntangibleAssets
59400000 USD
CY2021 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
84800000 USD
CY2020 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
6200000 USD
CY2020 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
132200000 USD
CY2019 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
81000000.0 USD
CY2021 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
2300000 USD
CY2020 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1200000 USD
CY2019 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1300000 USD
CY2021 us-gaap Net Investment Income
NetInvestmentIncome
82500000 USD
CY2020 us-gaap Net Investment Income
NetInvestmentIncome
131000000.0 USD
CY2019 us-gaap Net Investment Income
NetInvestmentIncome
79700000 USD
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
156800000 USD
CY2020 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
187100000 USD
CY2019 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
96600000 USD
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-395200000 USD
CY2020 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
529700000 USD
CY2019 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
336600000 USD
CY2021 wtm Gain Loss On Investments Exchange Rate Effect
GainLossOnInvestmentsExchangeRateEffect
-7700000 USD
CY2020 us-gaap Debt Securities Trading Realized Loss
DebtSecuritiesTradingRealizedLoss
27300000 USD
CY2020 wtm Gain Loss On Investments Exchange Rate Effect
GainLossOnInvestmentsExchangeRateEffect
4000000.0 USD
CY2019 wtm Gain Loss On Investments Exchange Rate Effect
GainLossOnInvestmentsExchangeRateEffect
-300000 USD
CY2021 us-gaap Debt Securities Trading Realized Gain
DebtSecuritiesTradingRealizedGain
212300000 USD
CY2020 us-gaap Debt Securities Trading Realized Gain
DebtSecuritiesTradingRealizedGain
214400000 USD
CY2019 us-gaap Debt Securities Trading Realized Gain
DebtSecuritiesTradingRealizedGain
104000000 USD
CY2021 us-gaap Debt Securities Trading Realized Loss
DebtSecuritiesTradingRealizedLoss
55500000 USD
CY2019 us-gaap Debt Securities Trading Realized Loss
DebtSecuritiesTradingRealizedLoss
7400000 USD
CY2021 us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
800000000 USD
CY2020 us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
1400000000 USD
CY2019 us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
1000000000 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Amortized Cost Basis
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1895500000 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateFairValue
1908900000 USD
CY2021 wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.68
CY2020 wtm Percentage Of Investments Recorded At Fair Value
PercentageOfInvestmentsRecordedAtFairValue
0.73
CY2021Q4 wtm Investments Held In Trusts
InvestmentsHeldInTrusts
479500000 USD
CY2020Q4 wtm Investments Held In Trusts
InvestmentsHeldInTrusts
432400000 USD
CY2021Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
4800000 USD
CY2020Q4 us-gaap Assets Held By Insurance Regulators
AssetsHeldByInsuranceRegulators
11900000 USD
CY2021Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
1377800000 USD
CY2020Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
786800000 USD
CY2021Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
675700000 USD
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
30200000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
645500000 USD
CY2020Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
525500000 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q4 us-gaap Goodwill
Goodwill
525500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
1196100000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
93800000 USD
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
36400000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
843300000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
54700000 USD
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
39800000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28300000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
39400000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
36000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
32700000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
30500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
106100000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
244700000 USD
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
175700000 USD
CY2021 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
The following table summarizes the loss and LAE reserve activity of Ark’s insurance and reinsurance subsidiaries for the year ended December 31, 2021:<div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.134%"><tr><td style="width:1.0%"/><td style="width:82.121%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.638%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:14.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended <br/>December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross beginning balance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">696.0</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less: beginning reinsurance recoverable on unpaid losses </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(433.4)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net loss and LAE reserves</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">262.6</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Losses and LAE incurred relating to:</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">      Current year losses</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">336.3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">      Prior year losses</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(21.5)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net incurred losses and LAE</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">314.8</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss and LAE paid relating to:</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current year losses</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(43.9)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">   Prior year losses</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(61.6)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net paid losses and LAE</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(105.5)</span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in TPC Providers’ participation </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2.2)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency translation and other adjustments to loss and LAE reserves</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(3.9)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net ending balance</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">465.8</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Plus: ending reinsurance recoverable on unpaid losses </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">428.9</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross ending balance</span></td><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">894.7</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:3pt;padding-left:40.5pt;padding-right:31.5pt;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> The beginning reinsurance recoverable on unpaid losses and ending reinsurance recoverable on unpaid losses includes amounts attributable to TPC Providers of $319.2 and $276.8.</span></div><div style="padding-left:40.5pt;padding-right:31.5pt;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> Amount represents a decrease in net loss and LAE reserves due to a change in the TPC Providers’ participation during 2021, related to the RITC for the 2018 year of account.</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The following table summarizes the unpaid loss and LAE reserves, net of reinsurance recoverables on unpaid losses, for each of Ark’s major reserving lines of business as of December 31, 2021:</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:83.748%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.557%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.295%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><br/><br/></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As of<br/>December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property and Accident &amp; Health</span></td><td colspan="3" style="padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">175.0 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marine &amp; Energy</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99.3 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Specialty</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">85.2 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Casualty - Active </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37.4 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Casualty - Runoff</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68.4 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Other</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.5</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">   Unpaid loss and LAE reserves, net of reinsurance recoverables on unpaid losses</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">465.8 </span></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Plus: Reinsurance recoverables on unpaid losses </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property and Accident &amp; Health</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">145.2 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marine &amp; Energy</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">70.2 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Specialty</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68.9 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Casualty - Active</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41.4 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Casualty - Runoff</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">103.2 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">   Total Reinsurance recoverables on unpaid losses </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">428.9 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:3pt double #000000;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total unpaid loss and LAE reserves</span></td><td colspan="3" style="border-bottom:3pt double #000000;padding:0 1pt"/><td style="border-bottom:3pt double #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:3pt double #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">894.7</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:3pt double #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:9pt;text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> The reinsurance recoverables on unpaid losses include amounts attributable to TPC Providers of $276.8.</span></div>
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0.065
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428900000 USD
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19500000 USD
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5700000 USD
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14500000 USD
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221600000 USD
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3 credit_facility
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470400000 USD
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0.40
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0.25
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0
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CY2020 us-gaap Interest Expense Debt
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CY2019 us-gaap Interest Expense Debt
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17600000 USD
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CY2020 us-gaap Interest Paid
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CY2019 us-gaap Interest Paid
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2100000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
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4200000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3700000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
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3900000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3800000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1100000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1700000 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9800000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
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15700000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
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4500000 USD
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4900000 USD
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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28800000 USD
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-23200000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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14900000 USD
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5600000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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10400000 USD
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18300000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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24800000 USD
CY2021 us-gaap Income Tax Expense Benefit
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38600000 USD
CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
85100000 USD
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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77200000 USD
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CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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11200000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
5700000 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
6200000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8500000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
17500000 USD
CY2021 wtm Effective Income Tax Rate Reconciliation Member Surplus Contribution Amount
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5600000 USD
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4800000 USD
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3600000 USD
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2400000 USD
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29200000 USD
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1600000 USD
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1500000 USD
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1100000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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300000 USD
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5000000.0 USD
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1100000 USD
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CY2020 us-gaap Income Tax Reconciliation Tax Contingencies
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CY2019 us-gaap Income Tax Reconciliation Tax Contingencies
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700000 USD
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CY2020 us-gaap Income Tax Reconciliation Other Adjustments
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9700000 USD
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6900000 USD
CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Taxes Paid Net
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3700000 USD
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6400000 USD
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48500000 USD
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5100000 USD
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300000 USD
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11800000 USD
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10700000 USD
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4100000 USD
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2700000 USD
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2800000 USD
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160100000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities
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72900000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
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65100000 USD
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2500000 USD
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92300000 USD
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97400000 USD
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4700000 USD
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0.50
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1100000 USD
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1300000 USD
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2400000 USD
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100000 USD
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100000 USD
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2600000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
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0 USD
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0.60
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P12Y
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InsuranceLinkedSecuritiesCallableTerm
P5Y
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P12Y
CY2021Q1 wtm Insurance Linked Securities Callable Term
InsuranceLinkedSecuritiesCallableTerm
P5Y
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-275400000 USD
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708700000 USD
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414500000 USD
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-18700000 USD
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9300000 USD
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5300000 USD
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2300000 USD
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-800000 USD
CY2021 us-gaap Income Loss From Continuing Operations
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-294100000 USD
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711000000.0 USD
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413700000 USD
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-3500000 USD
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-290600000 USD
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701700000 USD
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408400000 USD
CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
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3079000 shares
CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
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3122200 shares
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
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3181600 shares
CY2021 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
36500 shares
CY2020 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
40800 shares
CY2019 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
40500 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3042500 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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