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Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2012
Discontinued Operations |
Schedule of discontinued operations balance sheet |
Millions |  | December 31, 2011 |
Assets held for sale |  |  |
Fixed maturity investments, at fair value |  | $ | 111.8 |
Total investments |  | 111.8 |
Cash |  | 5.5 |
Insurance premiums receivable |  | 8.8 |
Deferred acquisition costs |  | 2.2 |
Deferred tax asset |  | 1.9 |
Other assets |  | 2.4 |
Total assets held for sale |  | $ | 132.6 |
Liabilities held for sale |  |  |
Loss and loss adjustment expense reserves |  | $ | 64.7 |
Unearned insurance premiums |  | 34.1 |
Other liabilities |  | 8.8 |
Total liabilities held for sale |  | 107.6 |
Net assets held for sale |  | $ | 25.0 |
Schedule of discontinued operations income statement |
Millions, except per share amounts |  | Three Months Ended March 31, |
|  | 2012 |  | 2011 |
Revenues |  |  |  |  |
Earned insurance premiums |  | $ | 7.8 |  | $ | 227.7 |
Net investment income |  | — |  | 4.0 |
Net realized and unrealized investment gains (losses) |  | — |  | 3.4 |
Other revenue |  | — |  | 17.7 |
Total revenues |  | 7.8 |  | 252.8 |
Expenses |  |  |  |  |
Loss and loss adjustment expenses |  | 6.7 |  | 168.1 |
Insurance and reinsurance acquisition expenses |  | 1.0 |  | 49.5 |
Other underwriting expenses |  | .2 |  | 21.5 |
General and administrative expenses |  | — |  | 12.5 |
Total expenses |  | 7.9 |  | 251.6 |
Pre-tax (loss) income |  | (.1 | ) | 1.2 |
Income tax benefit |  | .2 |  | 1.3 |
Income from discontinued operations |  | $ | .1 |  | $ | 2.5 |
Discontinued operations, computation of earnings per share |
|  | Three Months Ended March 31, |
|  | 2012 |  | 2011 |
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |
Net income attributable to White Mountains’ common shareholders |  | $ | .1 |  | $ | 2.5 |
Allocation of income for participating unvested restricted common shares |  | — |  | — |
Net income attributable to White Mountains’ common shareholders, net of restricted common share amounts(2) |  | $ | .1 |  | $ | 2.5 |
Basic earnings per share denominators (in thousands): |  |  |  |  |
Total average common shares outstanding during the period |  | 7,431.7 |  | 8,031.8 |
Average unvested restricted common shares (1) |  | (78.3 | ) | (57.1 | )
Basic earnings per share denominator |  | 7,353.4 |  | 7,974.7 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |
Total average common shares outstanding during the period |  | 7,431.7 |  | 8,031.8 |
Average unvested restricted common shares (1) |  | (78.3 | ) | (57.1 | )
Average outstanding dilutive options to acquire common shares |  | — |  | — |
Diluted earnings per share denominator |  | 7,353.4 |  | 7,974.7 |
Basic and diluted earnings per share (in dollars): |  | $ | .02 |  | $ | .31 |
(1) Restricted common shares outstanding vest either in equal annual installments or upon a stated date (see Note 12). (2) Net income (loss) attributable to White Mountains’ common shareholders, net of restricted share amounts, is equal to undistributed earnings (loss) for the three months ended March 31, 2012 and 2011.

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- Definition Tabular disclosure of gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations. + References No definition available. + Details
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