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Financial Statement Revisions (Tables) | 12 Months Ended
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Dec. 31, 2017
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
|  | As previously reported |  | Adjustments |  | As revised
|  | Years ended December 31,
Millions, except for per share amounts |  | 2016 |  | 2015 |  | 2016 |  | 2015 |  | 2016 |  | 2015
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Financial Guarantee (HG Global/BAM) |  |  |  |  |  |  |  |  |  |  |  |
Financial Guarantee revenues |  | $ | 16.7 |  |  | $ | 10.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 16.7 |  |  | $ | 10.7 |
Marketing Technology (MediaAlpha) |  |  |  |  |  |  |  |  |  |  |  |
Marketing Technology revenues |  | 116.5 |  |  | 105.5 |  |  | — |  |  | — |  |  | 116.5 |  |  | 105.5 |
Other |  |  |  |  |  |  |  |  |  |  |  |
Advertising & commission revenues |  | 10.4 |  |  | 4.6 |  |  | (8.6 | ) |  | (2.7 | ) |  | 1.8 |  |  | 1.9 |
Other revenues (1)(2) |  | 22.7 |  |  | 314.5 |  |  | — |  |  | 7.4 |  |  | 22.7 |  |  | 321.9 |
Other revenues |  | 33.1 |  |  | 319.1 |  |  | (8.6 | ) |  | 4.7 |  |  | 24.5 |  |  | 323.8 |
Total revenues |  | 166.3 |  |  | 435.3 |  |  | (8.6 | ) |  | 4.7 |  |  | 157.7 |  |  | 440.0 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Financial Guarantee (HG Global/BAM) |  |  |  |  |  |  |  |  |  |  |  |
Financial Guarantee expenses |  | 43.4 |  |  | 40.1 |  |  | — |  |  | — |  |  | 43.4 |  |  | 40.1 |
Marketing Technology (MediaAlpha) |  |  |  |  |  |  |  |  |  |  |  |
Marketing Technology expenses |  | 120.6 |  |  | 107.5 |  |  | — |  |  | — |  |  | 120.6 |  |  | 107.5 |
Other |  |  |  |  |  |  |  |  |  |  |  |
Other expenses (3) |  | 137.6 |  |  | 154.5 |  |  | 3.0 |  | (5 | ) | 8.2 |  | (5 | ) | 140.6 |  |  | 162.7 |
Amortization of other intangible assets |  | 1.2 |  |  | 1.2 |  |  | (.8 | ) |  | (.7 | ) |  | .4 |  |  | .5 |
Other expenses |  | 138.8 |  |  | 155.7 |  |  | 2.2 |  |  | 7.5 |  |  | 141.0 |  |  | 163.2 |
Total expenses |  | 302.8 |  |  | 303.3 |  |  | 2.2 |  |  | 7.5 |  |  | 305.0 |  |  | 310.8 |
Pre-tax (loss) income |  | (136.5 | ) |  | 132.0 |  |  | (10.8 | ) |  | (2.8 | ) |  | (147.3 | ) |  | 129.2 |
Income benefit (expense) |  | 32.9 |  |  | (12.7 | ) |  | — |  |  | — |  |  | 32.9 |  |  | (12.7 | )
Net (loss) income from continuing operations |  | (103.6 | ) |  | 119.3 |  |  | (10.8 | ) |  | (2.8 | ) |  | (114.4 | ) |  | 116.5 |
Gain on sale of discontinued operations, net of tax |  | 415.1 |  |  | 18.2 |  |  | — |  |  | — |  |  | 415.1 |  |  | 18.2 |
Net income from discontinued operations |  | 108.3 |  |  | 116.9 |  |  | — |  |  | — |  |  | 108.3 |  |  | 116.9 |
Income before equity in earnings of unconsolidated affiliates |  | 419.8 |  |  | 254.4 |  |  | (10.8 | ) |  | (2.8 | ) |  | 409.0 |  |  | 251.6 |
Equity in earnings of unconsolidated affiliates |  | — |  |  | 25.1 |  |  | — |  |  | — |  |  | — |  |  | 25.1 |
Net income (4) |  | 419.8 |  |  | 279.5 |  |  | (10.8 | ) |  | (2.8 | ) |  | 409.0 |  |  | 276.7 |
Net (income) loss attributable to non-controlling interests |  | (7.3 | ) |  | 18.1 |  |  | .1 |  |  | .4 |  |  | (7.2 | ) |  | 18.5 |
Net income attributable to White Mountains's common shareholders |  | 412.5 |  |  | 297.6 |  |  | (10.7 | ) |  | (2.4 | ) |  | 401.8 |  |  | 295.2 |
Other comprehensive income (loss), net of tax (1) |  | 145.6 |  |  | (100.4 | ) |  | — |  |  | (7.4 | ) |  | 145.6 |  |  | (107.8 | )
Comprehensive income |  | 558.1 |  |  | 197.2 |  |  | (10.7 | ) |  | (9.8 | ) |  | 547.4 |  |  | 187.4 |
Comprehensive income attributable to non-controlling interests |  | (.3 | ) |  | — |  |  | — |  |  | — |  |  | (.3 | ) |  | — |
Comprehensive income attributable to White Mountains's common shareholders |  | $ | 557.8 |  |  | $ | 197.2 |  |  | $ | (10.7 | ) |  | $ | (9.8 | ) |  | $ | 547.1 |  |  | $ | 187.4 |
Basic and diluted earnings per share - continuing operations |  | $ | (22.13 | ) |  | $ | 27.63 |  |  | $ | (2.13 | ) |  | $ | (.41 | ) |  | $ | (24.26 | ) |  | $ | 27.22 |
(1) In 2015, White Mountains recorded a foreign currency translation gain related to its investment in Symetra in net income when it should have been recorded through other comprehensive income. The correction to properly reflect the translation amount through other comprehensive income did not have any impact on comprehensive income attributable to White Mountains's common shareholders or to book value per share. (2) Total other revenues include earned insurance premiums, net investment income, net realized and unrealized losses, and other revenues. (3) Total other expenses include loss and loss adjustment expenses, insurance acquisition expenses, other underwriting expenses, cost of sales, general and administrative expenses, and interest expense. (4) The adjustment to net income resulted in a corresponding adjustment in the statement of cash flows, with an offsetting adjustment to the change in other assets and liabilities within the operating cash flows section. There was no change to cash flows from operations, cash flows from investing activities or cash flows from financing activities. (5) The adjustments to other expenses is primarily related to the write-off of goodwill and intangible assets for Wobi. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
|  | As previously reported |  | Adjustments |  | As revised
|  | Years ended December 31,
Millions |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014
Common shares and paid-in surplus |  | $ | 810.7 |  |  | $ | 978.2 |  |  | $ | 1,034.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 810.7 |  |  | $ | 978.2 |  |  | $ | 1,034.7 |
Retained earnings, beginning of year |  | 3,084.9 |  |  | 3,010.5 |  |  | 2,801.9 |  |  | (9.9 | ) |  | (7.5 | ) |  | (.5 | ) |  | 3,075.0 |  |  | 3,003.0 |  |  | 2,801.4 |
Share repurchases |  | (694.8 | ) |  | (217.2 | ) |  | (97.4 | ) |  | — |  |  | — |  |  | — |  |  | (694.8 | ) |  | (217.2 | ) |  | (97.4 | )
Net income |  | 412.5 |  |  | 297.6 |  |  | 312.2 |  |  | (10.7 | ) |  | (2.4 | ) |  | (7.0 | ) |  | 401.8 |  |  | 295.2 |  |  | 305.2 |
Dividends |  | (5.4 | ) |  | (6.0 | ) |  | (6.2 | ) |  | — |  |  | — |  |  | — |  |  | (5.4 | ) |  | (6.0 | ) |  | (6.2 | )
Retained earnings, end of year |  | 2,797.2 |  |  | 3,084.9 |  |  | 3,010.5 |  |  | (20.6 | ) |  | (9.9 | ) |  | (7.5 | ) |  | 2,776.6 |  |  | 3,075.0 |  |  | 3,003.0 |
Accumulated other comprehensive (loss) income, after-tax, beginning of year |  | (149.9 | ) |  | (49.5 | ) |  | 52.1 |  |  | — |  |  | 7.4 |  |  | .5 |  |  | (149.9 | ) |  | (42.1 | ) |  | 52.6 |
Net change in foreign currency translation |  | 31.4 |  |  | (65.8 | ) |  | (168.2 | ) |  | — |  |  | (7.4 | ) |  | 6.9 |  |  | 31.4 |  |  | (73.2 | ) |  | (161.3 | )
Net other changes in AOCI |  | 113.9 |  |  | (34.6 | ) |  | 66.6 |  |  | — |  |  | — |  |  | — |  |  | 113.9 |  |  | (34.6 | ) |  | 66.6 |
Accumulated other comprehensive loss, after-tax, end of year |  | (4.6 | ) |  | (149.9 | ) |  | (49.5 | ) |  | — |  |  | — |  |  | 7.4 |  |  | (4.6 | ) |  | (149.9 | ) |  | (42.1 | )
Total White Mountains Common Shareholders' Equity |  | 3,603.3 |  |  | 3,913.2 |  |  | 3,995.7 |  |  | (20.6 | ) |  | (9.9 | ) |  | (.1 | ) |  | 3,582.7 |  |  | 3,903.3 |  |  | 3,995.6 |
Non-controlling interests, beginning of year |  | 454.8 |  |  | 542.7 |  |  | 491.7 |  |  | (.5 | ) |  | (.1 | ) |  | — |  |  | 454.3 |  |  | 542.6 |  |  | 491.7 |
Net income (loss) |  | 7.3 |  |  | (18.1 | ) |  | (22.2 | ) |  | (.1 | ) |  | (.4 | ) |  | (.1 | ) |  | 7.2 |  |  | (18.5 | ) |  | (22.3 | )
Other changes in NCI |  | (328.2 | ) |  | (69.8 | ) |  | 73.2 |  |  | — |  |  | — |  |  | — |  |  | (328.2 | ) |  | (69.8 | ) |  | 73.2 |
Non-controlling interests, end of year |  | 133.9 |  |  | 454.8 |  |  | 542.7 |  |  | (.6 | ) |  | (.5 | ) |  | (.1 | ) |  | 133.3 |  |  | 454.3 |  |  | 542.6 |
Total equity |  | $ | 3,737.2 |  |  | $ | 4,368.0 |  |  | $ | 4,538.4 |  |  | $ | (21.2 | ) |  | $ | (10.4 | ) |  | $ | (.2 | ) |  | $ | 3,716.0 |  |  | $ | 4,357.6 |  |  | $ | 4,538.2 |
CONSOLIDATED BALANCE SHEETS
|  | December 31, 2016
Millions |  | As previously reported |  | Adjustments |  | As revised
Assets |  |  |  |  |  |
Financial Guarantee (HG Global/BAM) |  |  |  |  |  |
Financial Guarantee assets |  | $ | 677.6 |  |  | $ | — |  |  | $ | 677.6 |
Marketing Technology (MediaAlpha) |  |  |  |  |  |
Marketing Technology assets |  | 57.6 |  |  | — |  |  | 57.6 |
Other |  |  |  |  |  |
Investments |  | 2,084.7 |  |  | — |  |  | 2,084.7 |
Goodwill |  | 13.4 |  |  | (5.8 | ) |  | 7.6 |
Other intangible assets |  | 4.7 |  |  | (3.7 | ) |  | 1.0 |
Other assets — commissions receivable |  | 14.8 |  |  | (14.8 | ) |  | — |
Other assets (1) |  | 85.5 |  |  | (.2 | ) |  | 85.3 |
Assets held for sale |  | 3,606.4 |  |  | — |  |  | 3,606.4 |
Other segment assets |  | 5,809.5 |  |  | (24.5 | ) |  | 5,785.0 |
Total assets |  | $ | 6,544.7 |  |  | $ | (24.5 | ) |  | $ | 6,520.2 |
Liabilities |  |  |  |  |  |
Financial Guarantee (HG Global/BAM) |  |  |  |  |  |
Total Financial Guarantee liabilities |  | $ | 108.9 |  |  | $ | — |  |  | $ | 108.9 |
Marketing Technology (MediaAlpha) |  |  |  |  |  |
Total Marketing Technology liabilities |  | 28.3 |  |  | — |  |  | 28.3 |
Other |  |  |  |  |  |
Accrued incentive compensation |  | 79.1 |  |  | — |  |  | 79.1 |
Other liabilities (2) |  | 21.9 |  |  | (3.3 | ) |  | 18.6 |
Liabilities held for sale |  | 2,569.3 |  |  | — |  |  | 2,569.3 |
Total Other segment liabilities |  | 2,670.3 |  |  | (3.3 | ) |  | 2,667.0 |
Total liabilities |  | 2,807.5 |  |  | (3.3 | ) |  | 2,804.2 |
Equity |  |  |  |  |  |
White Mountains's common shares |  | 4.6 |  |  | — |  |  | 4.6 |
Paid in surplus |  | 806.1 |  |  | — |  |  | 806.1 |
Retained earnings |  | 2,797.2 |  |  | (20.6 | ) |  | 2,776.6 |
Accumulated other comprehensive income, net of tax |  | (4.6 | ) |  | — |  |  | (4.6 | )
Total White Mountains's common shareholders' equity |  | 3,603.3 |  |  | (20.6 | ) |  | 3,582.7 |
Non-controlling interests |  | 133.9 |  |  | (.6 | ) |  | 133.3 |
Total equity |  | 3,737.2 |  |  | (21.2 | ) |  | 3,716.0 |
Total liabilities and equity |  | $ | 6,544.7 |  |  | $ | (24.5 | ) |  | $ | 6,520.2 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22663-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22658-107794 + Details
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