XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Earned insurance premiums $ 2.4 $ 3.4 $ 7.6 $ 10.2
Net investment income 12.2 9.6 39.7 18.2
Net realized and unrealized investment gains 32.5 10.9 102.5 27.2
Advertising and commission revenues 38.8 28.2 103.9 89.6
Other revenue 1.6 4.7 6.1 18.0
Total revenues 87.5 56.8 259.8 163.2
Expenses:        
Loss and loss adjustment expenses 0.0 2.2 1.1 6.8
Insurance acquisition expenses 0.9 1.3 3.1 4.4
Other underwriting expenses 0.1 0.2 0.3 0.4
Cost of sales 33.1 24.0 88.7 76.9
General and administrative expenses 44.1 42.4 162.2 144.9
Interest expense 0.9 0.5 1.8 2.6
Total expenses 79.1 70.6 257.2 236.0
Pre-tax income (loss) from continuing operations 8.4 (13.8) 2.6 (72.8)
Income tax benefit 4.0 17.1 5.3 22.7
Net income (loss) from continuing operations 12.4 3.3 7.9 (50.1)
Gain from sale of other discontinued operations, net of tax 554.3 47.9 552.7 414.5
Net (loss) income from discontinued operations, net of tax (15.2) 36.5 20.5 100.9
Net income 551.5 87.7 581.1 465.3
Net loss (income) attributable to non-controlling interests 10.6 3.1 23.6 (24.6)
Net income attributable to White Mountains’s common shareholders 562.1 90.8 604.7 440.7
Comprehensive income, net of tax:        
Change in foreign currency translation, net of tax 0.0 0.2 0.2 (0.4)
Comprehensive income 565.1 90.7 608.1 586.1
Other comprehensive income attributable to non-controlling interests 0.0 0.1 (0.1) 0.1
Comprehensive income attributable to White Mountains’s common shareholders $ 565.1 $ 90.8 $ 608.0 $ 586.2
Basic income (loss) per share        
Continuing operations (in usd per share) $ 5.36 $ 1.31 $ 7.03 $ (14.47)
Discontinued operations (in usd per share) 125.45 17.34 128.03 99.75
Total consolidated operations (in usd per share) 130.81 18.65 135.06 85.28
Diluted income (loss) per share        
Continuing operations (in usd per share) 5.36 1.31 7.03 (14.47)
Discontinued operations (in usd per share) 125.45 17.30 128.03 99.60
Total consolidated operations (in usd per share) 130.81 18.61 135.06 85.13
Dividends declared per White Mountains’s common share $ 0.00 $ 0.00 $ 1.00 $ 1.00
OneBeacon        
Comprehensive income, net of tax:        
Comprehensive income from discontinued operations, net of tax $ 3.0 $ (0.3) $ 3.2 $ 145.8
Discontinued Operations        
Expenses:        
Net income attributable to White Mountains’s common shareholders $ 562.1 $ 90.8 $ 604.7 440.7
Comprehensive income, net of tax:        
Change in foreign currency translation, net of tax       $ 32.5
Basic income (loss) per share        
Total consolidated operations (in usd per share) $ 125.45 $ 17.34 $ 128.03 $ 99.75
Diluted income (loss) per share        
Total consolidated operations (in usd per share) $ 125.45 $ 17.30 $ 128.03 $ 99.60