XML 111 R37.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Recognized Identified Assets Acquired | The following table presents the economic lives, acquisition date fair values, accumulated amortization and net carrying values for other intangible assets and goodwill, by company as of December 31, 2019 and 2018:
$ in Millions |  | Weighted Average Economic Life (in years) |  | December 31, 2019 |  | December 31, 2018
| Acquisition Date Fair Value |  | Accumulated Amortization |  | Impairments |  | Net Carrying Value |  | Acquisition Date Fair Value |  | Accumulated Amortization |  | Net Carrying Value
Goodwill: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NSM (1)(2) |  | N/A |  | $ | 381.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 381.6 |  |  | $ | 354.3 |  |  | $ | — |  |  | $ | 354.3 |
Kudu |  | N/A |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |  |  | — |  |  | — |  |  | — |
MediaAlpha |  | N/A |  | — |  |  | — |  |  | — |  |  | — |  |  | 18.3 |  |  | — |  |  | 18.3 |
Other Operations (3) |  | N/A |  | 13.1 |  |  | — |  |  | 7.6 |  |  | 5.5 |  |  | 7.3 |  |  | — |  |  | 7.3 |
Total goodwill |  |  |  | 402.3 |  |  | — |  |  | 7.6 |  |  | 394.7 |  |  | 379.9 |  |  | — |  |  | 379.9 |
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NSM (1)(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 9 |  | 121.7 |  |  | 19.8 |  |  | 1.4 |  |  | 100.5 |  |  | 85.3 |  |  | 6.0 |  |  | 79.3 |
Trade names |  | 19 |  | 61.9 |  |  | 5.3 |  |  | .4 |  |  | 56.2 |  |  | 51.2 |  |  | 1.8 |  |  | 49.4 |
Information technology platform |  | 5 |  | 3.9 |  |  | 1.4 |  |  | .6 |  |  | 1.9 |  |  | 3.7 |  |  | .5 |  |  | 3.2 |
Renewal rights |  | 12 |  | 82.5 |  |  | .7 |  |  | — |  |  | 81.8 |  |  | — |  |  | — |  |  | — |
Other |  | 3 |  | 1.7 |  |  | .7 |  |  | — |  |  | 1.0 |  |  | — |  |  | — |  |  | — |
Subtotal |  |  |  | 271.7 |  |  | 27.9 |  |  | 2.4 |  |  | 241.4 |  |  | 140.2 |  |  | 8.3 |  |  | 131.9 |
Kudu |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 7 |  | 2.2 |  |  | .2 |  |  | — |  |  | 2.0 |  |  | — |  |  | — |  |  | — |
MediaAlpha |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 9 |  | — |  |  | — |  |  | — |  |  | — |  |  | 26.8 |  |  | 4.9 |  |  | 21.9 |
Information technology platform |  | 5 |  | — |  |  | — |  |  | — |  |  | — |  |  | 33.3 |  |  | 30.9 |  |  | 2.4 |
Other |  | 3 |  | — |  |  | — |  |  | — |  |  | — |  |  | 9.8 |  |  | 9.0 |  |  | .8 |
Subtotal |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 69.9 |  |  | 44.8 |  |  | 25.1 |
Other Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 10 |  | 1.7 |  |  | .5 |  |  | .2 |  |  | 1.0 |  |  | .6 |  |  | .2 |  |  | .4 |
Customer Relationships |  | 11 |  | 7.2 |  |  | .4 |  |  | — |  |  | 6.8 |  |  | — |  |  | — |  |  | — |
Information technology platform |  | 5 |  | .5 |  |  | .3 |  |  | .2 |  |  | — |  |  | .5 |  |  | .3 |  |  | .2 |
Insurance licenses |  | N/A |  | 8.6 |  |  | — |  |  | — |  |  | 8.6 |  |  | — |  |  | — |  |  | — |
Other |  | 5 |  | .2 |  |  | — |  |  | — |  |  | .2 |  |  | — |  |  | — |  |  | — |
Subtotal |  |  |  | 18.2 |  |  | 1.2 |  |  | .4 |  |  | 16.6 |  |  | 1.1 |  |  | .5 |  |  | .6 |
Total other intangible assets |  | 292.1 |  |  | 29.3 |  |  | 2.8 |  |  | 260.0 |  |  | 211.2 |  |  | 53.6 |  |  | 157.6 |
Total goodwill and other intangible assets | $ | 694.4 |  |  | $ | 29.3 |  |  | $ | 10.4 |  |  | 654.7 |  |  | $ | 591.1 |  |  | $ | 53.6 |  |  | 537.5 |
Goodwill and other intangible assets attributed to non-controlling interests | (23.4 | ) |  |  |  |  |  | (40.6 | )
Goodwill and other intangible assets included in White Mountains’s common shareholders’ equity |  | $ | 631.3 |  |  |  |  |  |  | $ | 496.9 |
(1) As of December 31, 2019, NSM’s goodwill and intangible assets includes $1.4 and $0.7 of the effect of foreign currency translation. As of December 31, 2018, NSM’s goodwill and intangible assets includes $(2.2) and $(0.7) of the effect of foreign currency translation. (2) The relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of KBK had not yet been determined at December 31, 2018. The attribution of acquisition date fair value estimates between goodwill and other intangible assets for KBK was completed during 2019. (3) As of December 31, 2019 and 2018, Other Operations’ goodwill includes $0.0 and $(0.3) of the effect of foreign currency translation. The following table presents a summary of the acquisition date fair values of goodwill and other intangible assets for acquisitions completed during 2019 and 2018:
$ in Millions |  |  |  |
Acquisition of Subsidiary/ Asset |  | Goodwill and Other Intangible Assets(1) |  | Acquisition Date
NSM |  | $ | 383.0 |  |  | May 11, 2018
Fresh Insurance |  | 54.6 |  |  | May 18, 2018
KBK(3) |  | 65.3 |  |  | December 3, 2018
Embrace(2) |  | 67.6 |  |  | April 1, 2019
Renewal Rights (3) |  | 82.5 |  |  | June 28, 2019
Total NSM segment |  | $ | 653.0 |  |  |
Kudu Transaction |  | $ | 9.8 |  |  | April 4, 2019
Other Operations |  | $ | 22.6 |  |  | Various
(1) Acquisition date fair values include the effect of adjustments during the measurement period and excludes the effect of foreign currency translation subsequent to the acquisition date. (2) Excludes $3.4 of software classified within other assets. (3) NSM’s purchase of the Renewal Rights from AIG was an asset acquisition. NSM’s purchase of KBK was accounted for as a business combination but did not include acquisition of the legal entity.
Schedule of Goodwill and Intangible Assets Rollforward | The following table presents the change in goodwill and other intangible assets:
|  | December 31,
|  | 2019 |  | 2018
Millions |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets
Beginning balance |  | $ | 379.9 |  |  | $ | 157.6 |  |  | $ | 537.5 |  |  | $ | 25.9 |  |  | $ | 36.2 |  |  | $ | 62.1 |
Acquisitions of businesses (1) |  | 64.8 |  |  | 34.6 |  |  | 99.4 |  |  | 356.5 |  |  | 140.9 |  |  | 497.4 |
Acquisition of collector car renewal rights |  | — |  |  | 82.5 |  |  | 82.5 |  |  | — |  |  | — |  |  | — |
Dispositions of businesses (2) |  | (18.3 | ) |  | (23.5 | ) |  | (41.8 | ) |  | — |  |  | — |  |  | — |
Attribution of acquisition date fair value estimates between goodwill and other intangible assets (3) |  | (26.8 | ) |  | 26.8 |  |  | — |  |  | — |  |  | — |  |  | — |
Impairments (4) |  | (7.6 | ) |  | (2.8 | ) |  | (10.4 | ) |  | — |  |  | — |  |  | — |
Measurement period adjustments(5) |  | .9 |  |  | 5.9 |  |  | 6.8 |  |  | — |  |  | — |  |  | — |
Foreign currency translation |  | 1.8 |  |  | .7 |  |  | 2.5 |  |  | (2.5 | ) |  | (.7 | ) |  | (3.2 | )
Amortization |  | — |  |  | (21.8 | ) |  | (21.8 | ) |  | — |  |  | (18.8 | ) |  | (18.8 | )
Ending balance |  | $ | 394.7 |  |  | $ | 260.0 |  |  | $ | 654.7 |  |  | $ | 379.9 |  |  | $ | 157.6 |  |  | $ | 537.5 |
(1) During 2019, amounts include acquisitions related to Kudu, Other Operations and Embrace. During 2018, amounts include acquisitions related to NSM, Fresh Insurance and KBK. See Note 2 — “Significant Transactions”. (2) Dispositions relate to the MediaAlpha Transaction. See Note 2 — “Significant Transactions”.
(3) | The determination of the relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of KBK was completed in 2019. The attribution is net of a $5.9 measurement period adjustment for contingent consideration.
(4) Impairments of $7.6 and $0.4 of goodwill and other intangible assets relate to Other Operations and $2.4 of impairments to other intangible relate to Fresh Insurance.
(5) | Measurement period adjustments relate to updated information about acquisition date fair values of assets acquired and liabilities assumed.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | White Mountains expects to recognize amortization expense in each of the next five years as the following table presents:
Millions |  | Amortization Expense
2020 |  | $ | 23.9 |
2021 |  | 30.5 |
2022 |  | 29.7 |
2023 |  | 28.4 |
2024 and years after |  | 138.9 |
Total (1) |  | $ | 251.4 |

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

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Goodwill and Intangible Assets Rollforward + References No definition available. + Details
Name: | wtm_GoodwillandIntangibleAssetsRollforwardTableTextBlock
Namespace Prefix: | wtm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration