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SCHEDULE II CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT | 12 Months Ended
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Dec. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
SCHEDULE II CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT | CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT CONDENSED BALANCE SHEETS
|  | December 31,
Millions |  | 2012 |  | 2011
Assets: |  |  |  |  |  |
Cash |  | $ | .5 |  |  | $ | .7 |
Fixed maturity investments, at fair value (1) (2) |  | 39.0 |  |  | 1,334.5 |
Common equity securities, at fair value |  | — |  |  | 1.9 |
Short-term investments, at amortized cost (2) |  | 8.9 |  |  | 72.3 |
Receivable due from subsidiary (2) |  | 96.6 |  |  | 2.8 |
Other assets |  | 1.0 |  |  | 5.1 |
Investments in consolidated and unconsolidated affiliates (1)(3) |  | 3,664.6 |  |  | 2,687.3 |
Total assets |  | $ | 3,810.6 |  |  | $ | 4,104.6 |
Liabilities: |  |  |  |  |  |
Debt |  | $ | 75.0 |  |  | $ | — |
Accounts payable and other liabilities |  | 3.8 |  |  | 16.9 |
Total liabilities |  | 78.8 |  |  | 16.9 |
White Mountains’ common shareholders’ equity |  | 3,731.8 |  |  | 4,087.7 |
Total liabilities and equity (3) |  | $ | 3,810.6 |  |  | $ | 4,104.6 |
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
|  | Year Ended December 31,
Millions |  | 2012 |  | 2011 |  | 2010
Revenues (including realized gains and losses) |  | $ | 20.8 |  |  | $ | 6.4 |  |  | $ | 1.1 |
Expenses |  | 32.4 |  |  | 51.7 |  |  | 42.2 |
Pre-tax loss |  | (11.6 | ) |  | (45.3 | ) |  | (41.1 | )
Income tax (expense) benefit |  | (.3 | ) |  | 6.5 |  |  | (.6 | )
Net loss |  | (11.9 | ) |  | (38.8 | ) |  | (41.7 | )
Equity in earnings from consolidated and unconsolidated affiliates (3) |  | 219.3 |  |  | 806.7 |  |  | 128.2 |
Net income attributable to White Mountains’ common shareholders |  | 207.4 |  |  | 767.9 |  |  | 86.5 |
Other comprehensive loss items, after-tax |  | 95.2 |  |  | (81.7 | ) |  | 127.9 |
Comprehensive income attributable to White Mountains’ common shareholders |  | $ | 302.6 |  |  | $ | 686.2 |  |  | $ | 214.4 |
Computation of net income available to common shareholders: |  |  |  |  |  |
Net income available to common shareholders |  | $ | 207.4 |  |  | $ | 767.9 |  |  | $ | 86.5 |
(1) During 2012, the Company sold the majority of its fixed maturity investments and used the proceeds to (a) contribute $663.0 to its subsidiaries, the majority of which was used to fund HG Global and (b) repurchase 1,329,640 of its common shares for $669.1. (2) In November 2011, Lone Tree Insurance Group Ltd., a direct wholly-owned subsidiary of the Registrant, was liquidated into the Registrant. Significant non-cash balances that were transferred to the Registrant as part of the liquidation included fixed maturity investments of $1,146.9, short-term investments of $284.7 and a payable to subsidiary of $417.5. (3) In 2011, the Company revised the presentation of investments in consolidated and unconsolidated affiliates, total liabilities and equity and equity in earnings (losses) from consolidated and unconsolidated affiliates to be net of non-controlling interests for all periods presented. SCHEDULE II (continued) CONDENSED STATEMENTS OF CASH FLOWS
|  | Year Ended December 31,
Millions |  | 2012 |  | 2011 |  | 2010
Net income attributable to White Mountains’ common shareholders (2) |  | $ | 207.4 |  |  | $ | 767.9 |  |  | $ | 86.5 |
Charges (credits) to reconcile net income to net cash from operations: |  |  |  |  |  |  |  |  |
Net realized and unrealized (gains) losses on sales of investments |  | (11.0 | ) |  | (3.1 | ) |  | .1 |
Undistributed current earnings from subsidiaries (2) |  | (219.3 | ) |  | (806.7 | ) |  | (128.2 | )
Net change in other assets and other liabilities |  | 12.1 |  |  | 13.7 |  |  | 27.9 |
Net cash used for operations |  | (10.8 | ) |  | (28.2 | ) |  | (13.7 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Net decrease in short-term investments (3) |  | 63.3 |  |  | 267.3 |  |  | 166.5 |
Purchases of investment securities (3) |  | (706.2 | ) |  | (237.3 | ) |  | (5.8 | )
Sales and maturities of investment securities (1) |  | 2,009.7 |  |  | 59.0 |  |  | — |
Issuance of debt (to) from subsidiaries |  | (121.0 | ) |  | — |  |  | 86.8 |
Repayment of debt from subsidiaries (3) |  | 28.5 |  |  | 192.5 |  |  | — |
Contributions to subsidiaries (1) |  | (663.0 | ) |  | — |  |  | — |
Distributions from subsidiaries |  | — |  |  | 7.2 |  |  | — |
Net cash provided from investing activities |  | 611.3 |  |  | 288.7 |  |  | 247.5 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Draw down of revolving line of credit |  | 150.0 |  |  | — |  |  | — |
Repayment of debt |  | (75.0 | ) |  | — |  |  | — |
Proceeds from issuances of common shares |  | — |  |  | .9 |  |  | .7 |
Repurchases and retirement of common shares (1) |  | (669.1 | ) |  | (253.0 | ) |  | (225.6 | )
Dividends paid on common shares |  | (6.6 | ) |  | (8.0 | ) |  | (8.8 | )
Net cash used for financing activities |  | (600.7 | ) |  | (260.1 | ) |  | (233.7 | )
Net (decrease) increase in cash during the year |  | (.2 | ) |  | .4 |  |  | .1 |
Cash balance at beginning of year |  | .7 |  |  | .3 |  |  | .2 |
Cash balance at end of year |  | $ | .5 |  |  | $ | .7 |  |  | $ | .3 |
(1) During 2012, the Company sold the majority of its fixed maturity investments and used the proceeds to (a) contribute $663.0 to its subsidiaries, the majority of which was used to fund HG Global and (b) repurchase 1,329,640 of its common shares for $669.1. (2) In 2011, the Company revised the presentation of net income attributable to White Mountains’ common shareholders and undistributed current earnings from subsidiaries to be net of non-controlling interests for all periods presented. (3) In November 2011, Lone Tree Insurance Group Ltd., a direct wholly-owned subsidiary of the Registrant, was liquidated into the Registrant. Significant non-cash balances that were transferred to the Registrant as part of the liquidation included fixed maturity investments of $1,146.9, short-term investments of $284.7 and a payable to subsidiary of $417.5

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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