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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet And Additional Disclosures | The following summarizes the assets and liabilities associated with the business classified as held for sale:
Millions |  | June 30, 2014 |  | December 31, 2013
Assets held for sale |  |  |  |  |
Fixed maturity investments, at fair value |  | $ | 203.8 |  |  | $ | 236.3 |
Reinsurance recoverable on unpaid losses |  | 1,507.4 |  |  | 1,604.7 |
Reinsurance recoverable on paid losses |  | 7.9 |  |  | 10.7 |
Insurance premiums receivable |  | 13.2 |  |  | 9.1 |
Deferred tax asset |  | 2.8 |  |  | 3.3 |
Other assets |  | 15.6 |  |  | 16.0 |
Total assets held for sale |  | $ | 1,750.7 |  |  | $ | 1,880.1 |
Liabilities held for sale |  |  |  |  |  |
Loss and loss adjustment expense reserves |  | $ | 1,666.3 |  |  | $ | 1,793.1 |
Unearned insurance premiums |  | .3 |  |  | .2 |
Ceded reinsurance payable |  | 11.9 |  |  | 12.3 |
Other liabilities |  | 72.2 |  |  | 74.5 |
Total liabilities held for sale |  | 1,750.7 |  |  | 1,880.1 |
Net assets held for sale |  | $ | — |  |  | $ | — |
Net Income from Discontinued Operations The following summarizes the results of operations, including related income taxes associated with the business classified as discontinued operations:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
Millions |  | 2014 |  | 2013 |  | 2014 |  | 2013
Revenues |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | (.1 | ) |  | $ | (1.3 | ) |  | $ | (.2 | ) |  | $ | (.4 | )
Other revenue |  | — |  |  | 12.2 |  |  | — |  |  | 12.2 |
Total revenues |  | (.1 | ) |  | 10.9 |  |  | (.2 | ) |  | 11.8 |
Expenses |  |  |  |  |  |  |  |
Loss and loss adjustment expenses |  | (.7 | ) |  | 7.5 |  |  | (.7 | ) |  | 7.5 |
Insurance and reinsurance acquisition expenses |  | — |  |  | (.1 | ) |  | — |  |  | — |
Other underwriting expenses |  | .7 |  |  | (.2 | ) |  | 1.4 |  |  | (.1 | )
Total expenses |  | — |  |  | 7.2 |  |  | .7 |  |  | 7.4 |
Pre-tax (loss) income |  | (.1 | ) |  | 3.7 |  |  | (.9 | ) |  | 4.4 |
Income tax benefit |  | — |  |  | .2 |  |  | .3 |  |  | — |
Net (loss) income from discontinued operations |  | (.1 | ) |  | 3.9 |  |  | $ | (.6 | ) |  | $ | 4.4 |
Gain on sale of Esurance, net of tax |  | 3.2 |  |  | — |  |  | 3.2 |  |  | — |
Loss from sale of discontinued operations |  | (.5 | ) |  | — |  |  | (.5 | ) |  | — |
Net income from discontinued operations |  | $ | 2.6 |  |  | $ | 3.9 |  |  | $ | 2.1 |  |  | $ | 4.4 |
Earnings Per Share Basic earnings per share amounts are based on the weighted average number of common shares outstanding including unvested restricted shares that are considered participating securities. Diluted earnings per share amounts are based on the weighted average number of common shares including unvested restricted shares and the net effect of potentially dilutive common shares outstanding. The following table outlines the computation of earnings per share for discontinued operations for the three and six months ended June 30, 2014 and 2013:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |  |  |  |  |
Net income attributable to White Mountains’s common shareholders |  | $ | 2.6 |  |  | $ | 3.9 |  |  | $ | 2.1 |  |  | $ | 4.4 |
Allocation of income for participating unvested restricted common shares(1) |  | — |  |  | — |  |  | — |  |  | — |
Net income attributable to White Mountains’s common shareholders, net of restricted common share amounts (2) |  | $ | 2.6 |  |  | $ | 3.9 |  |  | $ | 2.1 |  |  | $ | 4.4 |
Basic earnings per share denominators (in thousands): |  |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 6,162.2 |  |  | 6,176.2 |  |  | 6,166.0 |  |  | 6,224.5 |
Average unvested restricted common shares(3) |  | (81.3 | ) |  | (95.4 | ) |  | (75.9 | ) |  | (87.2 | )
Basic earnings per share denominator |  | 6,080.9 |  |  | 6,080.8 |  |  | 6,090.1 |  |  | 6,137.3 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 6,162.2 |  |  | 6,176.2 |  |  | 6,166.0 |  |  | 6,224.5 |
Average unvested restricted common shares(3) |  | (81.3 | ) |  | (95.4 | ) |  | (75.9 | ) |  | (87.2 | )
Average outstanding dilutive options to acquire common shares(4) |  | — |  |  | — |  |  | — |  |  | — |
Diluted earnings per share denominator |  | 6,080.9 |  |  | 6,080.8 |  |  | 6,090.1 |  |  | 6,137.3 |
Basic and diluted earnings per share (in dollars): |  | $ | .43 |  |  | $ | .64 |  |  | $ | .34 |  |  | $ | .71 |
(1) Restricted shares issued by White Mountains contain dividend participation features, and therefore, are considered participating securities. (2) Net earnings attributable to White Mountains’s common shareholders, net of restricted share amounts, is equal to undistributed earnings for the three and six months ended June 30, 2014 and 2013. (3) Restricted common shares outstanding vest either in equal annual installments or upon a stated date (see Note 13). (4) The diluted earnings per share denominator for the three and six months ended June 30, 2014 and 2013 does not include the impact of 125,000 common shares issuable upon exercise of the non-qualified options outstanding as they are anti-dilutive to the calculation.

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- Definition Tabular disclosure of disposal groups, which may include the 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, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 + Details
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