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Debt | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Debt | Debt White Mountains’s debt outstanding as of September 30, 2017 and December 31, 2016 consisted of the following:
Millions |  | September 30, 2017 |  | Effective Rate (1) |  | December 31, 2016 |  | Effective Rate (1)
WTM Bank Facility |  | $ | — |  |  | N/A |  | $ | — |  |  | N/A
Unamortized issue costs |  | — |  |  |  |  | — |  |  |
WTM Bank Facility, carrying value |  | — |  |  |  |  | — |  |  |
MediaAlpha Bank Facility |  | 9.4 |  |  | 5.5% |  | — |  |  | N/A
Unamortized issuance cost |  | — |  |  |  |  | — |  |  |
MediaAlpha Bank Facility, carrying value |  | 9.4 |  |  |  |  | — |  |  |
Previous MediaAlpha Bank Facility |  | — |  |  | N/A |  | 12.9 |  |  | 5.7%
Unamortized issuance cost |  | — |  |  |  |  | (.2 | ) |  |
Previous MediaAlpha Bank Facility, carrying value |  | — |  |  |  |  | 12.7 |  |  |
Total debt |  | $ | 9.4 |  |  |  |  | $ | 12.7 |  |  |
(1) Effective rate considers the effect of the debt issuance costs. WTM Bank Facility On August 14, 2013, White Mountains entered into a revolving credit facility with a syndicate of lenders administered by Wells Fargo Bank, N.A., which has a total commitment of $425.0 million and has a maturity date of August 14, 2018 (the “WTM Bank Facility”). During the third quarter of 2017, White Mountains borrowed $350.0 million under the WTM Bank Facility to partially fund a tender offer and subsequently repaid the $350 million after receiving the proceeds from the OneBeacon Transaction. As of September 30, 2017, the WTM Bank Facility was undrawn. The WTM Bank Facility contains various affirmative, negative and financial covenants which White Mountains considers to be customary for such borrowings, including certain minimum net worth and maximum debt to capitalization standards. MediaAlpha Bank Facility On May 12, 2017, MediaAlpha entered into a secured credit facility (the “MediaAlpha Bank Facility”) with Western Alliance Bank, which has a total commitment of $20.0 million and has a maturity date of May 12, 2020. The MediaAlpha Bank Facility replaced MediaAlpha’s previous credit facility (the “Previous MediaAlpha Bank Facility”), which had a total commitment of $20.0 million. The MediaAlpha Bank Facility carries a variable interest rate that is based on the Prime Rate, as published by the Wall Street Journal, plus a spread of 1.5% on the term loan facility and 0.25% on the revolving credit facility as of September 30, 2017. The MediaAlpha Bank Facility consists of a $5.0 million term loan facility, which has an outstanding balance of $3.4 million as of September 30, 2017, and a revolving loan facility for $15.0 million, which has an outstanding balance of $6.0 million as of September 30, 2017. During the nine months ended September 30, 2017, MediaAlpha borrowed $5.0 million on the term loan and $6.0 million on the revolving loan under the MediaAlpha Bank Facility. During the nine months ended September 30, 2017, MediaAlpha repaid $12.9 million under the Previous MediaAlpha Bank Facility and $1.6 million on the term loan under the MediaAlpha Bank Facility. The MediaAlpha Bank Facility is secured by intellectual property and the common stock of MediaAlpha’s subsidiaries, and contains various affirmative, negative and financial covenants that White Mountains considers to be customary for such borrowings, including a fixed charge coverage ratio and an asset coverage ratio. Compliance At September 30, 2017, White Mountains was in compliance with the covenants under all of its debt instruments.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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