XML 69 R32.htm IDEA: XBRL DOCUMENT
v3.19.2

Earnings Per Share (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Earnings Per Share [Abstract] |
Computation of earnings per share | The following table presents the Company’s computation of earnings per share from continuing operations for the three and six months ended June 30, 2019 and 2018. See Note 17 — “Held for Sale and Discontinued Operations”.
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders |  | $ | 20.5 |  |  | $ | 3.5 |  |  | $ | 304.9 |  |  | $ | (44.5 | )
Less: total income from discontinued operations, net of tax |  | — |  |  | — |  |  | .7 |  |  | .1 |
Net income (loss) from continuing operations attributable to White Mountains’s common shareholders |  | $ | 20.5 |  |  | $ | 3.5 |  |  | $ | 304.2 |  |  | $ | (44.6 | )
Allocation of earnings to participating restricted common shares(1) |  | (.3 | ) |  | — |  |  | (3.6 | ) |  | .4 |
Basic and diluted earnings (losses) per share numerators |  | $ | 20.2 |  |  | $ | 3.5 |  |  | $ | 300.6 |  |  | $ | (44.2 | )
Basic earnings per share denominators (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 3,183.5 |  |  | 3,432.0 |  |  | 3,177.8 |  |  | 3,588.2 |
Average unvested restricted common shares(2) |  | (42.8 | ) |  | (41.5 | ) |  | (37.6 | ) |  | (38.7 | )
Basic earnings per share denominator |  | 3,140.7 |  |  | 3,390.5 |  |  | 3,140.2 |  |  | 3,549.5 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 3,183.5 |  |  | 3,432.0 |  |  | 3,177.8 |  |  | 3,588.2 |
Average unvested restricted common shares(2) |  | (42.8 | ) |  | (41.5 | ) |  | (37.6 | ) |  | (38.7 | )
Diluted earnings per share denominator |  | 3,140.7 |  |  | 3,390.5 |  |  | 3,140.2 |  |  | 3,549.5 |
Basic and diluted earnings per share (in dollars) - continuing operations: |  |  |  |  |  |  |  |
Distributed earnings - dividends declared and paid |  | $ | — |  |  | $ | — |  |  | $ | 1.00 |  |  | $ | 1.00 |
Undistributed earnings (losses) |  | 6.44 |  |  | 1.02 |  |  | 94.71 |  |  | (13.44 | )
Basic and diluted earnings (losses) per share |  | $ | 6.44 |  |  | $ | 1.02 |  |  | $ | 95.71 |  |  | $ | (12.44 | )
(1) Restricted shares issued by White Mountains receive dividends, and therefore, are considered participating securities. (2) Restricted shares outstanding vest either in equal annual installments or upon a stated date. See Note 10 — “Employee Share-Based Incentive Compensation Plans”.
Disposal Groups, Including Discontinued Operations | The following table presents the undistributed net earnings (losses) from continuing operations for the three and six months ended June 30, 2019 and 2018. See Note 17 — “Held for Sale and Discontinued Operations”.
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
Millions |  | 2019 |  | 2018 |  | 2019 |  | 2018
Undistributed net earnings (losses) - continuing operations: |  |  |  |  |  |  |  |
Net income (losses) attributable to White Mountains’s common shareholders, net of restricted common share amounts |  | $ | 20.2 |  |  | $ | 3.5 |  |  | $ | 300.6 |  |  | $ | (44.2 | )
Dividends declared, net of restricted common share amounts (1) |  | — |  |  | — |  |  | (3.2 | ) |  | (3.7 | )
Total undistributed net earnings (losses), net of restricted common share amounts |  | $ | 20.2 |  |  | $ | 3.5 |  |  | $ | 297.4 |  |  | $ | (47.9 | )
(1) Restricted shares issued by White Mountains receive dividends, and therefore, are considered participating securities. The following table presents the Company’s computation of earnings per share for discontinued operations for the three and six months ended June 30, 2019 and 2018:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders |  | $ | 20.5 |  |  | $ | 3.5 |  |  | $ | 304.9 |  |  | $ | (44.5 | )
Less: total income (loss) from continuing operations, net of tax |  | 20.5 |  |  | 3.5 |  |  | 304.2 |  |  | (44.6 | )
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 |  | 3,183.5 |  |  | 3,432.0 |  |  | 3,177.8 |  |  | 3,588.2 |
Average unvested restricted common shares (3) |  | (42.8 | ) |  | (41.5 | ) |  | (37.6 | ) |  | (38.7 | )
Basic earnings per share denominator |  | 3,140.7 |  |  | 3,390.5 |  |  | 3,140.2 |  |  | 3,549.5 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 3,183.5 |  |  | 3,432.0 |  |  | 3,177.8 |  |  | 3,588.2 |
Average unvested restricted common shares (3) |  | (42.8 | ) |  | (41.5 | ) |  | (37.6 | ) |  | (38.7 | )
Diluted earnings per share denominator |  | 3,140.7 |  |  | 3,390.5 |  |  | 3,140.2 |  |  | 3,549.5 |
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 and six months ended June 30, 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”.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration