Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet And Additional Disclosures

The following table outlines the computation of earnings per share for discontinued operations for the three months ended March 31, 2015 and 2014:



	Three Months Ended
	March 31,
	2015			2014
Basic and diluted earnings per share numerators (in millions):
Net income attributable to White Mountains’s common shareholders	$	7.9		$	(.5	)
Allocation of income for participating unvested restricted common shares⁽¹⁾	(.1		)	—
Net income attributable to White Mountains’s common shareholders, net of restricted common share amounts⁽²⁾	$	7.8		$	(.5	)
Basic earnings per share denominators (in thousands):
Total average common shares outstanding during the period	5,978.4			6,169.9
Average unvested restricted common shares⁽³⁾	(58.8		)	(70.4		)
Basic earnings per share denominator	5,919.6			6,099.5
Diluted earnings per share denominator (in thousands):
Total average common shares outstanding during the period	5,978.4			6,169.9
Average unvested restricted common shares⁽³⁾	(58.8		)	(70.4		)
Average outstanding dilutive options to acquire common shares⁽⁴⁾	—			—
Diluted earnings per share denominator	5,919.6			6,099.5
Basic and diluted earnings per share (in dollars):	$	1.32		$	(.08	)

⁽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 months ended March 31, 2015 and 2014.

⁽³⁾ Restricted common shares outstanding vest either in equal annual installments or upon a stated date (see Note 15).

⁽⁴⁾The diluted earnings per share denominator for the three months ended March 31, 2015 and 2014 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.

- 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+ Details