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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of discontinued operations balance sheet | The following summarizes the assets and liabilities associated with the businesses classified as held for sale:
Millions |  | June 30, 2013 |  | December 31, 2012
Assets held for sale |  |  |  |  |
Fixed maturity investments, at fair value |  | $ | 260.8 |  |  | $ | 338.1 |
Cash |  | — |  |  | — |
Reinsurance recoverable on unpaid losses |  | 1,736.3 |  |  | 1,840.8 |
Reinsurance recoverable on paid losses |  | 21.4 |  |  | 15.6 |
Insurance premiums receivable |  | 9.8 |  |  | 11.0 |
Deferred acquisition costs |  | — |  |  | — |
Deferred tax asset |  | 3.5 |  |  | 5.1 |
Other assets |  | 15.2 |  |  | 16.2 |
Total assets held for sale |  | $ | 2,047.0 |  |  | $ | 2,226.8 |
Liabilities held for sale |  |  |  |  |  |
Loss and loss adjustment expense reserves |  | $ | 1,884.2 |  |  | $ | 2,052.6 |
Unearned insurance premiums |  | .4 |  |  | .5 |
Ceded reinsurance payable |  | 14.3 |  |  | 21.9 |
Other liabilities |  | 148.1 |  |  | 151.8 |
Total liabilities held for sale |  | 2,047.0 |  |  | 2,226.8 |
Net assets held for sale |  | $ | — |  |  | $ | — |
Schedule of discontinued operations income statement | The following summarizes the results of operations, including related income taxes associated with the businesses classified as discontinued operations:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions |  | 2013 |  | 2012 |  | 2013 |  | 2012
Revenues |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | (1.3 | ) |  | $ | 1.7 |  |  | $ | (.4 | ) |  | $ | 10.5 |
Net investment income |  | — |  |  | — |  |  | — |  |  | — |
Net realized and unrealized investment gains (losses) |  | — |  |  | — |  |  | — |  |  | — |
Other revenue |  | 12.2 |  |  | — |  |  | 12.2 |  |  | — |
Total revenues |  | 10.9 |  |  | 1.7 |  |  | 11.8 |  |  | 10.5 |
Expenses |  |  |  |  |  |  |  |
Loss and loss adjustment expenses |  | 7.5 |  |  | 1.1 |  |  | 7.5 |  |  | 20.7 |
Insurance and reinsurance acquisition expenses |  | (.1 | ) |  | (.8 | ) |  | — |  |  | (.5 | )
Other underwriting expenses |  | (.2 | ) |  | .7 |  |  | (.1 | ) |  | 2.2 |
General and administrative expenses |  | — |  |  | — |  |  | — |  |  | — |
Total expenses |  | 7.2 |  |  | 1.0 |  |  | 7.4 |  |  | 22.4 |
Pre-tax income (loss) |  | 3.7 |  |  | .7 |  |  | 4.4 |  |  | (11.9 | )
Income tax benefit (expense) |  | .2 |  |  | (.2 | ) |  | — |  |  | 3.1 |
Income (loss) from discontinued operations |  | 3.9 |  |  | .5 |  |  | 4.4 |  |  | (8.8 | )
Loss from sale of discontinued operations |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) from discontinued operations |  | $ | 3.9 |  |  | $ | .5 |  |  | $ | 4.4 |  |  | $ | (8.8 | )
Discontinued operations, computation of earnings per share | The following table outlines the computation of earnings (loss) per share for discontinued operations for the three and six months ended June 30, 2013 and 2012:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2013 |  | 2012 |  | 2013 |  | 2012
Basic and diluted earnings (loss) per share numerators (in millions): |  |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’ common shareholders |  | $ | 3.9 |  |  | $ | .5 |  |  | $ | 4.4 |  |  | $ | (8.8 | )
Allocation of income for participating unvested restricted common shares(1) |  | — |  |  | — |  |  | — |  |  | .1 |
Net income (loss) attributable to White Mountains’ common shareholders, net of restricted common share amounts (2) |  | $ | 3.9 |  |  | $ | .5 |  |  | $ | 4.4 |  |  | $ | (8.7 | )
Basic earnings (loss) per share denominators (in thousands): |  |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 6,176.2 |  |  | 6,638.7 |  |  | 6,224.5 |  |  | 7,033.0 |
Average unvested restricted common shares(3) |  | (95.4 | ) |  | (93.5 | ) |  | (87.2 | ) |  | (85.9 | )
Basic earnings (loss) per share denominator |  | 6,080.8 |  |  | 6,545.2 |  |  | 6,137.3 |  |  | 6,947.1 |
Diluted (loss) earnings per share denominator (in thousands): |  |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 6,176.2 |  |  | 6,638.7 |  |  | 6,224.5 |  |  | 7,033.0 |
Average unvested restricted common shares(3) |  | (95.4 | ) |  | (93.5 | ) |  | (87.2 | ) |  | (85.9 | )
Average outstanding dilutive options to acquire common shares (4) |  | — |  |  | — |  |  | — |  |  | — |
Diluted earnings (loss) per share denominator |  | 6,080.8 |  |  | 6,545.2 |  |  | 6,137.3 |  |  | 6,947.1 |
Basic and diluted earnings (loss) per share (in dollars): |  | $ | .64 |  |  | $ | .07 |  |  | $ | .71 |  |  | $ | (1.25 | )
(1) Restricted shares issued by White Mountains contain dividend participation features, and therefore, are considered participating securities. (2) Net earnings (loss) attributable to White Mountains’ common shareholders, net of restricted share amounts, is equal to undistributed earnings (loss) for the three and six months ended June 30, 2013 and 2012. (3) Restricted common shares outstanding vest either in equal annual installments or upon a stated date (see Note 13). (4) The diluted earnings (loss) per share denominator for the three and six months ended June 30, 2013 and 2012 do not include common shares issuable upon exercise of the Non-Qualified Options as they are anti-dilutive to the calculation.

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- Definition Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from discontinued operations, including the effect that has been given to preferred dividends. + References No definition available. + Details
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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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