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Held for Sale and Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table presents the undistributed net earnings (losses) from continuing operations for the three months ended March 31, 2019 and 2018. See Note 17 — “Held for Sale and Discontinued Operations”.
|  | Three Months Ended
|  | March 31,
Millions |  | 2019 |  | 2018
Undistributed net earnings (losses) - continuing operations: |  |  |  |
Net income (losses) attributable to White Mountains’s common shareholders, net of restricted common share amounts |  | $ | 280.8 |  |  | $ | (47.7 | )
Dividends declared, net of restricted common share amounts (1) |  | (3.2 | ) |  | (3.7 | )
Total undistributed net earnings (losses), net of restricted common share amounts |  | $ | 277.6 |  |  | $ | (51.4 | )
(1) Restricted shares issued by White Mountains receive dividends, and therefore, are considered participating securities.Net Change in Cash from Discontinued Operations The following table presents the net change in cash, including income tax payments to national governments and interest paid associated with the business classified as discontinued operations:
|  | Three Months Ended
Millions |  | 2018
Net cash provided from operations |  | $ | .1 |
Net cash used for investing activities |  | (.1 | )
Net cash used for financing activities |  | — |
Net change in cash during the period |  | — |
Cash balances at beginning of period |  | — |
Cash balances at end of period |  | $ | — |
Supplemental cash flows information: |  |
Interest paid |  | $ | — |
Net income tax payment to national governments |  | $ | — |
Earnings Per Share from Discontinued Operations White Mountains calculates earnings per share using the two-class method, which allocates earnings between common and unvested restricted common shares. Both classes of shares participate equally in earnings on a per share basis. Basic earnings per share amounts are based on the weighted average number of common shares outstanding adjusted for unvested restricted common shares. Diluted earnings per share amounts are also impacted by the net effect of potentially dilutive common shares outstanding. The following table presents the Company’s computation of earnings per share for discontinued operations for the three months ended March 31, 2019 and 2018:
|  | Three Months Ended
|  | March 31,
|  | 2019 |  | 2018
Basic and diluted earnings per share numerators (in millions): |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders |  | $ | 284.4 |  |  | $ | (48.0 | )
Less: total income (loss) from continuing operations, net of tax |  | 283.7 |  |  | (48.1 | )
Net income from discontinued operations attributable to White Mountains’s common shareholders |  | $ | .7 |  |  | $ | .1 |
Allocation of earnings to participating restricted common shares (1) |  | — |  |  | — |
Basic and diluted earnings per share numerators (2) |  | $ | .7 |  |  | $ | .1 |
Basic earnings per share denominators (in thousands): |  |  |  |  |
Total average common shares outstanding during the period |  | 3,172.2 |  |  | 3,746.1 |
Average unvested restricted common shares (3) |  | (32.5 | ) |  | (35.9 | )
Basic earnings per share denominator |  | 3,139.7 |  |  | 3,710.2 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |
Total average common shares outstanding during the period |  | 3,172.2 |  |  | 3,746.1 |
Average unvested restricted common shares (3) |  | (32.5 | ) |  | (35.9 | )
Diluted earnings per share denominator |  | 3,139.7 |  |  | 3,710.2 |
Basic and diluted earnings per share (in dollars) - discontinued operations: |  | $ | .22 |  |  | $ | .03 |
(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, 2019 and 2018. (3) Restricted common shares outstanding vest either in equal annual installments or upon a stated date. See Note 10 — “Employee Share-Based Incentive Compensation Plans”.

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