Employee Share-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2013

White Mountains

Share-based compensation arrangement by share-based payment award

The following summarizes performance share activity for the years ended December 31, 2013, 2012 and 2011 for performance shares granted under the WTM Incentive Plan and the WTM Phantom Share Plan:



	Year Ended December 31,
	2013					2012					2011
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	119,357		$	29.4		150,064		$	66.1		163,184		$	29.4
Shares paid or expired⁽¹⁾	(47,310	)	(11.0		)	(68,357	)	(58.3		)	(51,131	)	—
New grants	47,170		—			38,432		—			37,675		—
Assumed forfeitures and cancellations⁽²⁾	3		(.6		)	(782	)	.6			336		(.9		)
Expense recognized	—		42.4			—		21.0			—		37.6
Ending December 31,	119,220		$	60.2		119,357		$	29.4		150,064		$	66.1

⁽¹⁾

WTM performance shares payments in 2013 for the 2010-2012 performance cycle ranged from 33% to 98% of target. WTM performance share payments in 2012 for the 2009-2011 performance cycle ranged from 147% to 155% of target. At December 31, 2012, White Mountains paid $9.9 as a partial payment for the 2010-2012 performance cycle. There were no payments made in 2011 for the 2008-2010 performance cycle; those performance shares did not meet the threshold performance goal and expired.


⁽²⁾	Amounts include changes in assumed forfeitures, as required under GAAP.

Summary of performance shares outstanding and accrued expense for performance shares awarded under an Incentive Plan

The following table summarizes performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan at December 31, 2013 for each performance cycle:



Millions, except share amounts	Target WTM Performance Shares Outstanding		Accrued Expense
Performance cycle:
2013 – 2015	47,170		$	12.1
2012 – 2014	37,977		21.4
2011 – 2013	37,130		28.2
Sub-total	122,277		61.7
Assumed forfeitures	(3,057	)	(1.5		)
Total at December 31, 2013	119,220		$	60.2

Summary of restricted share activity

The following outlines the unrecognized compensation cost associated with the outstanding restricted share awards under the WTM Incentive Plan for the years ended December 31, 2013, 2012 and 2011:



	Year Ended December 31,
	2013					2012					2011
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	69,910		$	16.8		72,000		$	13.3		46,250		$	14.1
Issued	25,720		14.4			32,160		15.7			27,250		9.9
Vested⁽¹⁾	(1,500	)	—			(32,945	)	—			(1,500	)	—
Forfeited	—		—			(1,305	)	(.2		)	—		—
Expense recognized	—		(14.2		)	—		(12.0		)	—		(10.7		)
Non-vested at December 31,	94,130		$	17.0		69,910		$	16.8		72,000		$	13.3


⁽¹⁾	During 2012, the Compensation Committee accelerated the vesting date for an installment of 5,000 restricted shares from January 20, 2013 to December 31, 2012.

OneBeacon

Share-based compensation arrangement by share-based payment award

Summary of performance share activity

The following summarizes activity for the years ended December 31, 2013, 2012 and 2011 for OneBeacon performance shares granted under the OneBeacon Incentive Plan:



	Year Ended December 31,
	2013					2012					2011
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	563,190		$	1.2		642,667		$	9.7		1,464,295		$	18.5
Payments and deferrals⁽¹⁾	(238,658	)	—			(258,901	)	(7.7		)	(936,150	)	(10.5		)
New awards	179,000		—			181,290		—			194,900		—
Forfeitures and cancellations⁽²⁾	(10,111	)	(0.1		)	(1,866	)	—			(80,378	)	(0.5		)
Expense recognized	—		2.9			—		(0.8		)	—		2.2
End of period	493,421		$	4.0		563,190		$	1.2		642,667		$	9.7


⁽¹⁾	No payments were made in 2013 for the 2010-2012 OneBeacon performance cycle as the performance factor was zero. OneBeacon performance share payments in 2012 for the 2009-2011 performance cycle were at 138.6% of target. OneBeacon performance shares payments in 2011 for the 2008-2010 performance cycle were at 68.5% of target. Amounts include deposits into OneBeacon’s deferred compensation plan.


⁽²⁾	Amounts include changes in assumed forfeitures, as required under GAAP.

Summary of performance shares outstanding and accrued expense for performance shares awarded under an Incentive Plan

The following summarizes OneBeacon performance shares outstanding awarded under the OneBeacon Incentive Plan at December 31, 2013 for each performance cycle:



Millions, except share amounts	Target OneBeacon Performance Shares Outstanding		Accrued Expense
Performance cycle:
2013 – 2015	179,000		$	1.0
2012 – 2014	181,290		2.1
2011 – 2013	142,138		1.0
Sub-total	502,428		4.1
Assumed forfeitures	(9,007	)	(.1		)
Total at December 31, 2013	493,421		$	4.0

Summary of restricted share activity

The following table summarizes the unrecognized compensation cost associated with the outstanding OneBeacon restricted stock awards for the years ended December 31, 2013, 2012 and 2011.



	Year Ended December 31,
	2013					2012					2011
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares	Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	927,000		$	9.6		630,000		$	7.7		—	$	—
Issued	—		—			300,000		4.5			630,000	8.6
Vested	(9,000	)	—			(667	)	—			—	—
Forfeited	(3,000	)	—			(2,333	)	—			—	—
Expense recognized	—		(3.1		)	—		(2.6		)	—	(.9		)
End of period	915,000		$	6.5		927,000		$	9.6		630,000	$	7.7