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SCHEDULE II CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT | 12 Months Ended
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Dec. 31, 2016
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 |  | 2016 |  | 2015
Assets: |  |  |  |  |  |
Cash |  | $ | 3.1 |  |  | $ | .3 |
Fixed maturity investments, at fair value |  | 80.0 |  |  | — |
Other long-term investments (1) |  | (1.2 | ) |  | — |
Short-term investments, at amortized cost |  | 12.5 |  |  | 23.4 |
Other assets |  | 1.4 |  |  | 6.3 |
Investments in consolidated and unconsolidated affiliates |  | 4,898.2 |  |  | 4,350.9 |
Total assets |  | $ | 4,994.0 |  |  | $ | 4,380.9 |
Liabilities: |  |  |  |  |  |
Revolving line of credit |  | $ | — |  |  | $ | 50.0 |
Payable to subsidiary (2) |  | 1,387.2 |  |  | 400.0 |
Other liabilities |  | 3.5 |  |  | 17.7 |
Total liabilities |  | 1,390.7 |  |  | 467.7 |
White Mountains’s common shareholders’ equity |  | 3,603.3 |  |  | 3,913.2 |
Total liabilities and equity |  | $ | 4,994.0 |  |  | $ | 4,380.9 |
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
|  | Year Ended December 31, |
Millions |  | 2016 |  | 2015 |  | 2014 |
(Loss) revenues (including realized gains and losses) |  | $ | (1.0 | ) |  | $ | 5.0 |  |  | $ | .3 |  |
Expenses |  | 68.2 |  |  | 59.9 |  |  | 32.3 |  |
Pre-tax loss |  | (69.2 | ) |  | (54.9 | ) |  | (32.0 | ) |
Income tax (expense) benefit |  | (.5 | ) |  | — |  |  | .9 |  |
Net loss |  | (69.7 | ) |  | (54.9 | ) |  | (31.1 | ) |
Net gain from discontinued operations, net of tax |  | — |  |  | — |  |  | 13.9 |  | (3)
Equity in earnings from consolidated and unconsolidated affiliates |  | 482.2 |  |  | 352.5 |  |  | 329.4 |  |
Net income attributable to White Mountains’s common shareholders |  | 412.5 |  |  | 297.6 |  |  | 312.2 |  |
Other comprehensive income (loss) items, after-tax |  | 145.3 |  |  | (100.4 | ) |  | (101.6 | ) |
Comprehensive income attributable to White Mountains’s common shareholders |  | $ | 557.8 |  |  | $ | 197.2 |  |  | $ | 210.6 |  |
Computation of net income available to common shareholders: |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 412.5 |  |  | $ | 297.6 |  |  | $ | 312.2 |  |
(1) Other investments includes $(1.2) related to foreign currency forward contracts. See Note 9 — “Derivatives”. (2) During 2016 and 2015, the Company used cash proceeds received from the issuance of debt from its direct wholly-owned subsidiary, Lone Tree Holdings, Ltd., primarily to fund repurchases of its common shares. (3) During 2014, the Company received a payment from Allianz, the purchaser of White Mountains’s former subsidiary Fireman’s Fund Insurance Company (“FFIC”), related to the utilization of alternative minimum tax credits associated with the tax loss on the sale of FFIC in 1991. See Note 22 — “Held for Sale and Discontinued Operations”. Schedules of the Registrant should be read in conjunction with the Consolidated Financial Statements and Notes. SCHEDULE II (continued) CONDENSED STATEMENTS OF CASH FLOWS
|  | Year Ended December 31,
Millions |  | 2016 |  | 2015 |  | 2014
Net income attributable to White Mountains’s common shareholders |  | $ | 412.5 |  |  | $ | 297.6 |  |  | $ | 312.2 |
Charges (credits) to reconcile net income to net cash from operations: |  |  |  |  |  |  |  |  |
Net realized and unrealized investment gains (losses) on sales of investments |  | 1.1 |  |  | — |  |  | (.2 | )
Undistributed current earnings from subsidiaries |  | (482.2 | ) |  | (352.5 | ) |  | (329.4 | )
Net gain on sale of other discontinued operations (1) |  | — |  |  | — |  |  | (13.9 | )
Other non-cash reconciling items including restricted share and option amortization |  | 17.9 |  |  | (.4 | ) |  | 12.9 |
Net change in other assets and liabilities (2) |  | (11.4 | ) |  | 21.4 |  |  | (7.6 | )
Net cash used for continuing operations |  | (62.1 | ) |  | (33.9 | ) |  | (26.0 | )
Net cash provided from discontinued operations (1) |  | — |  |  | — |  |  | 13.9 |
Net cash used for operations |  | (62.1 | ) |  | (33.9 | ) |  | (12.1 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Net decrease in short-term investments |  | 10.9 |  |  | 7.6 |  |  | (29.6 | )
Purchases of investment securities |  | — |  |  | — |  |  | (7.6 | )
Sales and maturities of investment securities |  | — |  |  | — |  |  | 39.4 |
Issuance of debt from subsidiaries (4) |  | 992.0 |  |  | 271.0 |  |  | 144.6 |
Repayment of debt to subsidiaries |  | (5.0 | ) |  | (35.0 | ) |  | (30.0 | )
Receipt of cash flows from discontinued operations (1) |  | — |  |  | — |  |  | 13.9 |
Distributions from subsidiaries (3) |  | — |  |  | 15.0 |  |  | 29.7 |
Net cash provided from investing activities — continuing operations |  | 997.9 |  |  | 258.6 |  |  | 160.4 |
Net cash used for investing activities — discontinued operations |  | — |  |  | — |  |  | (13.9 | )
Net cash provided from investing activities |  | 997.9 |  |  | 258.6 |  |  | 146.5 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Draw down of revolving line of credit (5) |  | 350.0 |  |  | 125.0 |  |  | 65.0 |
Repayment of revolving line of credit (5) |  | (400.0 | ) |  | (75.0 | ) |  | (65.0 | )
Proceeds from issuances of common shares |  | 3.7 |  |  | — |  |  | — |
Repurchases and retirement of common shares(4) |  | (881.3 | ) |  | (268.6 | ) |  | (128.2 | )
Dividends paid on common shares |  | (5.4 | ) |  | (6.0 | ) |  | (6.2 | )
Net cash used for financing activities — continuing operations |  | (933.0 | ) |  | (224.6 | ) |  | (134.4 | )
Net cash (used for) provided from financing activities — discontinued operations |  | — |  |  | — |  |  | — |
Net cash used for financing activities |  | (933.0 | ) |  | (224.6 | ) |  | (134.4 | )
Net decrease in cash during the year |  | 2.8 |  |  | .1 |  |  | — |
Cash balance at beginning of year |  | .3 |  |  | .2 |  |  | .2 |
Cash balance at end of year |  | $ | 3.1 |  |  | $ | .3 |  |  | $ | .2 |
Supplemental cash flow information: |  |  |  |  |  |
Interest paid |  | $ | (1.2 | ) |  | $ | — |  |  | $ | (.3 | )
(1) | During 2014, the Company received a payment from Allianz, the purchaser of White Mountains’s former subsidiary Fireman’s Fund Insurance Company (“FFIC”), related to the utilization of alternative minimum tax credits associated with the tax loss on the sale of FFIC in 1991. See Note 22 — “Held for Sale and Discontinued Operations”.
(2) | For 2016, 2015 and 2014, net change in other assets and liabilities included a $0.2, $2.4, and 0.7 payable to the Company’s subsidiaries.
(3) | During 2016, the Company received a non-cash distribution of $80.0 from Lone Tree Holdings, Ltd., a direct wholly-owned subsidiary. The distribution was completed through the transfer of fixed maturity investments. During 2015 and 2014, the Company received cash distributions of $15.0 and $29.7 from Lone Tree Holdings, Ltd.
(4) | During 2016, 2015 and 2014, the Company used cash proceeds received from the issuance of debt from Lone Tree Holdings, Ltd. primarily to fund repurchases of its common shares.
(5) | The WTM Bank Facility presented in Note 7 — “Debt” is a direct obligation of the Registrant.
Schedules of the Registrant should be read in conjunction with the Consolidated Financial Statements and Notes.

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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 FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: 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=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: 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=26873400&loc=d3e24072-122690 + Details
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