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v3.20.2

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of Financial Information for White Mountains' Segments | in. The following tables present the financial information for White Mountains’s segments for the three and nine months ended September 30, 2020 and 2019:
Millions |  | HG Global/ BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | 6.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6.2 |
Net investment income |  | 4.7 |  |  | — |  |  | 6.4 |  |  | 60.1 |  |  | 71.2 |
Net realized and unrealized investment gains |  | 3.2 |  |  | — |  |  | 9.8 |  |  | 293.6 |  |  | 306.6 |
Advertising and commission revenues |  | — |  |  | 58.2 |  |  | — |  |  | 2.1 |  |  | 60.3 |
Other revenue |  | .4 |  |  | 12.5 |  |  | .1 |  |  | 2.2 |  |  | 15.2 |
Total revenues |  | 14.5 |  |  | 70.7 |  |  | 16.3 |  |  | 358.0 |  |  | 459.5 |
Insurance acquisition expenses |  | 1.6 |  |  | — |  |  | — |  |  | — |  |  | 1.6 |
Other underwriting expenses |  | .1 |  |  | — |  |  | — |  |  | — |  |  | .1 |
Cost of sales |  | — |  |  | — |  |  | — |  |  | 2.3 |  |  | 2.3 |
General and administrative expenses |  | 13.9 |  |  | 42.9 |  |  | 2.2 |  |  | 44.3 |  |  | 103.3 |
Broker commission expense |  | — |  |  | 17.1 |  |  | — |  |  | — |  |  | 17.1 |
Change in fair value of contingent consideration earnout liabilities |  | — |  |  | .7 |  |  | — |  |  | — |  |  | .7 |
Amortization of other intangible assets |  | — |  |  | 5.1 |  |  | .1 |  |  | .2 |  |  | 5.4 |
Interest expense |  | — |  |  | 6.1 |  |  | 1.4 |  |  | .3 |  |  | 7.8 |
Total expenses |  | 15.6 |  |  | 71.9 |  |  | 3.7 |  |  | 47.1 |  |  | 138.3 |
Pre-tax (loss) income |  | $ | (1.1 | ) |  | $ | (1.2 | ) |  | $ | 12.6 |  |  | $ | 310.9 |  |  | $ | 321.2 |
Millions |  | HG Global/ BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | 17.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17.2 |
Net investment income |  | 15.1 |  |  | — |  |  | 19.3 |  |  | 79.3 |  |  | 113.7 |
Net realized and unrealized investment gains |  | 23.7 |  |  | — |  |  | 1.5 |  |  | 277.6 |  |  | 302.8 |
Advertising and commission revenues |  | — |  |  | 174.2 |  |  | — |  |  | 6.1 |  |  | 180.3 |
Other revenue |  | 2.1 |  |  | 37.6 |  |  | .2 |  |  | 6.0 |  |  | 45.9 |
Total revenues |  | 58.1 |  |  | 211.8 |  |  | 21.0 |  |  | 369.0 |  |  | 659.9 |
Insurance acquisition expenses |  | 5.4 |  |  | — |  |  | — |  |  | — |  |  | 5.4 |
Other underwriting expenses |  | .3 |  |  | — |  |  | — |  |  | — |  |  | .3 |
Cost of sales |  | — |  |  | — |  |  | — |  |  | 6.5 |  |  | 6.5 |
General and administrative expenses |  | 41.1 |  |  | 131.0 |  |  | 7.5 |  |  | 87.1 |  |  | 266.7 |
Broker commission expense |  | — |  |  | 56.4 |  |  | — |  |  | — |  |  | 56.4 |
Change in fair value of contingent consideration earnout liabilities |  | — |  |  | (1.6 | ) |  | — |  |  | — |  |  | (1.6 | )
Amortization of other intangible assets |  | — |  |  | 16.2 |  |  | .3 |  |  | .6 |  |  | 17.1 |
Interest expense |  | — |  |  | 16.1 |  |  | 4.3 |  |  | .8 |  |  | 21.2 |
Total expenses |  | 46.8 |  |  | 218.1 |  |  | 12.1 |  |  | 95.0 |  |  | 372.0 |
Pre-tax income (loss) |  | $ | 11.3 |  |  | $ | (6.3 | ) |  | $ | 8.9 |  |  | $ | 274.0 |  |  | $ | 287.9 |
Millions |  | HG Global/BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | 5.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5.2 |
Net investment income |  | 5.4 |  |  | — |  |  | 4.6 |  |  | 8.4 |  |  | 18.4 |
Net realized and unrealized investment gains |  | 7.1 |  |  | — |  |  | 2.7 |  |  | 57.2 |  |  | 67.0 |
Advertising and commission revenues |  | — |  |  | 49.4 |  |  | — |  |  | 1.9 |  |  | 51.3 |
Other revenue |  | .3 |  |  | 10.5 |  |  | .2 |  |  | 2.6 |  |  | 13.6 |
Total revenues |  | 18.0 |  |  | 59.9 |  |  | 7.5 |  |  | 70.1 |  |  | 155.5 |
Insurance acquisition expenses |  | 1.4 |  |  | — |  |  | — |  |  | — |  |  | 1.4 |
Other underwriting expenses |  | .1 |  |  | — |  |  | — |  |  | — |  |  | .1 |
Cost of sales |  | — |  |  | — |  |  | — |  |  | 2.3 |  |  | 2.3 |
General and administrative expenses |  | 12.5 |  |  | 33.3 |  |  | 4.5 |  |  | 27.7 |  |  | 78.0 |
Broker commission expense |  | — |  |  | 15.3 |  |  | — |  |  | — |  |  | 15.3 |
Change in fair value of contingent consideration earnout liabilities |  | — |  |  | (2.0 | ) |  | — |  |  | — |  |  | (2.0 | )
Amortization of other intangible assets |  | — |  |  | 4.4 |  |  | .2 |  |  | — |  |  | 4.6 |
Interest expense |  | — |  |  | 4.4 |  |  | — |  |  | .3 |  |  | 4.7 |
Total expenses |  | 14.0 |  |  | 55.4 |  |  | 4.7 |  |  | 30.3 |  |  | 104.4 |
Pre-tax income |  | $ | 4.0 |  |  | $ | 4.5 |  |  | $ | 2.8 |  |  | $ | 39.8 |  |  | $ | 51.1 |
Millions |  | HG Global/ BAM |  | NSM |  | Kudu (1) |  | MediaAlpha (2) |  | Other Operations |  | Total
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Earned insurance premiums |  | $ | 13.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13.7 |
Net investment income |  | 16.1 |  |  | — |  |  | 8.6 |  |  | — |  |  | 30.7 |  |  | 55.4 |
Net realized and unrealized investment gains |  | 30.4 |  |  | — |  |  | 3.1 |  |  | — |  |  | 199.6 |  |  | 233.1 |
Realized gain and unrealized investment gain from the MediaAlpha Transaction |  | — |  |  | — |  |  | — |  |  | — |  |  | 182.2 |  |  | 182.2 |
Advertising and commission revenues |  | — |  |  | 147.6 |  |  | — |  |  | 48.8 |  |  | 4.5 |  |  | 200.9 |
Other revenue |  | 1.3 |  |  | 27.7 |  |  | .2 |  |  | — |  |  | 3.6 |  |  | 32.8 |
Total revenues |  | 61.5 |  |  | 175.3 |  |  | 11.9 |  |  | 48.8 |  |  | 420.6 |  |  | 718.1 |
Insurance acquisition expenses |  | 4.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4.1 |
Other underwriting expenses |  | .3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | .3 |
Cost of sales |  | — |  |  | — |  |  | — |  |  | 40.6 |  |  | 5.0 |  |  | 45.6 |
General and administrative expenses |  | 39.1 |  |  | 91.4 |  |  | 6.7 |  |  | 12.5 |  |  | 87.2 |  |  | 236.9 |
Broker commission expense |  | — |  |  | 48.9 |  |  | — |  |  | — |  |  | — |  |  | 48.9 |
Change in fair value of contingent consideration earnout liabilities |  | — |  |  | 5.6 |  |  | — |  |  | — |  |  | — |  |  | 5.6 |
Amortization of other intangible assets |  | — |  |  | 13.5 |  |  | .2 |  |  | 1.6 |  |  | .1 |  |  | 15.4 |
Interest expense |  | — |  |  | 12.2 |  |  | — |  |  | .2 |  |  | .3 |  |  | 12.7 |
Total expenses |  | 43.5 |  |  | 171.6 |  |  | 6.9 |  |  | 54.9 |  |  | 92.6 |  |  | 369.5 |
Pre-tax income (loss) |  | $ | 18.0 |  |  | $ | 3.7 |  |  | $ | 5.0 |  |  | $ | (6.1 | ) |  | $ | 328.0 |  |  | $ | 348.6 |
(1) Kudu's results are from April 4, 2019, the date White Mountains began consolidating Kudu, to September 30, 2019. (2) MediaAlpha’s results are from January 1, 2019 to February 26, 2019, the date of the MediaAlpha Transaction.
Schedule of Reconciliation of Revenue from Segments to Consolidated | In compliance with ASC 606, Revenues from Contracts with Customers, the following tables present White Mountains’s total revenues by revenue source for the three months ended September 30, 2020 and 2019:
Millions |  | HG Global/BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Commission and other revenue |  |  |  |  |  |  |  |  |  |
Specialty Transportation |  | $ | — |  |  | $ | 21.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 21.9 |
Real Estate |  | — |  |  | 6.0 |  |  | — |  |  | — |  |  | 6.0 |
Social Services |  | — |  |  | 8.6 |  |  | — |  |  | — |  |  | 8.6 |
Pet |  | — |  |  | 14.7 |  |  | — |  |  | — |  |  | 14.7 |
United Kingdom |  | — |  |  | 13.9 |  |  | — |  |  | — |  |  | 13.9 |
Other |  | — |  |  | 5.6 |  |  | — |  |  | 2.1 |  |  | 7.7 |
Total commission and other revenue |  | — |  |  | 70.7 |  |  | — |  |  | 2.1 |  |  | 72.8 |
Product revenues |  | — |  |  | — |  |  | — |  |  | 2.0 |  |  | 2.0 |
Revenues from contracts with customers |  | — |  |  | 70.7 |  |  | — |  |  | 4.1 |  |  | 74.8 |
Other revenues (1) |  | 14.5 |  |  | — |  |  | 16.3 |  |  | 353.9 |  |  | 384.7 |
Total revenues |  | $ | 14.5 |  |  | $ | 70.7 |  |  | $ | 16.3 |  |  | $ | 358.0 |  |  | $ | 459.5 |
(1) | Other revenues consist of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.
Millions |  | HG Global/BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |
Commission and other revenue |  |  |  |  |  |  |  |  |  |
Specialty Transportation |  | $ | — |  |  | $ | 66.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 66.1 |
Real Estate |  | — |  |  | 32.7 |  |  | — |  |  | — |  |  | 32.7 |
Social Services |  | — |  |  | 22.2 |  |  | — |  |  | — |  |  | 22.2 |
Pet |  | — |  |  | 39.8 |  |  | — |  |  | — |  |  | 39.8 |
United Kingdom (2) |  | — |  |  | 36.3 |  |  | — |  |  | — |  |  | 36.3 |
Other |  | — |  |  | 14.7 |  |  | — |  |  | 6.1 |  |  | 20.8 |
Total commission and other revenue |  | — |  |  | 211.8 |  |  | — |  |  | 6.1 |  |  | 217.9 |
Product revenues |  | — |  |  | — |  |  | — |  |  | 6.4 |  |  | 6.4 |
Revenues from contracts with customers |  | — |  |  | 211.8 |  |  | — |  |  | 12.5 |  |  | 224.3 |
Other revenues (1) |  | 58.1 |  |  | — |  |  | 21.0 |  |  | 356.5 |  |  | 435.6 |
Total revenues |  | $ | 58.1 |  |  | $ | 211.8 |  |  | $ | 21.0 |  |  | $ | 369.0 |  |  | $ | 659.9 |
(1) Other revenues consist of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers. (2) Includes the results of Kingsbridge from April 7, 2020, the date of the Kingsbridge transaction.
Millions |  | HG Global/BAM |  | NSM |  | Kudu |  | Other Operations |  | Total
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |
Commission and other revenue |  |  |  |  |  |  |  |  |  |
Specialty Transportation |  | $ | — |  |  | $ | 20.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 20.6 |
Real Estate |  | — |  |  | 4.9 |  |  | — |  |  | — |  |  | 4.9 |
Social Services |  | — |  |  | 7.4 |  |  | — |  |  | — |  |  | 7.4 |
Pet |  | — |  |  | 10.4 |  |  | — |  |  | — |  |  | 10.4 |
United Kingdom |  | — |  |  | 11.2 |  |  | — |  |  | — |  |  | 11.2 |
Other |  | — |  |  | 5.4 |  |  | — |  |  | 1.9 |  |  | 7.3 |
Total commission and other revenue |  | — |  |  | 59.9 |  |  | — |  |  | 1.9 |  |  | 61.8 |
Products |  | — |  |  | — |  |  | — |  |  | 2.5 |  |  | 2.5 |
Total revenues from contracts with customers |  | — |  |  | 59.9 |  |  | — |  |  | 4.4 |  |  | 64.3 |
Other revenues (1) |  | 18.0 |  |  | — |  |  | 7.5 |  |  | 65.7 |  |  | 91.2 |
Total revenues |  | $ | 18.0 |  |  | $ | 59.9 |  |  | $ | 7.5 |  |  | $ | 70.1 |  |  | $ | 155.5 |
(1) | Other revenues consist of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.
Millions |  | HG Global/BAM |  | NSM |  | Kudu |  | MediaAlpha |  | Other Operations |  | Total
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Commission and other revenue |  |  |  |  |  |  |  |  |  |  |  |
Specialty Transportation |  | $ | — |  |  | $ | 60.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 60.3 |
Real Estate |  | — |  |  | 25.4 |  |  | — |  |  | — |  |  | — |  |  | 25.4 |
Social Services |  | — |  |  | 19.7 |  |  | — |  |  | — |  |  | — |  |  | 19.7 |
Pet |  | — |  |  | 19.9 |  |  | — |  |  | — |  |  | — |  |  | 19.9 |
United Kingdom |  | — |  |  | 35.5 |  |  | — |  |  | — |  |  | — |  |  | 35.5 |
Other |  | — |  |  | 14.5 |  |  | — |  |  | — |  |  | 4.5 |  |  | 19.0 |
Total commission and other revenue |  | — |  |  | 175.3 |  |  | — |  |  | — |  |  | 4.5 |  |  | 179.8 |
Advertising revenues |  | — |  |  | — |  |  | — |  |  | 48.8 |  |  | — |  |  | 48.8 |
Revenues from contracts with customers |  | — |  |  | 175.3 |  |  | — |  |  | 48.8 |  |  | 4.5 |  |  | 228.6 |
Products |  | — |  |  | — |  |  | — |  |  | — |  |  | 3.1 |  |  | 3.1 |
Total revenues from contracts with customers |  | — |  |  | 175.3 |  |  | — |  |  | 48.8 |  |  | 7.6 |  |  | 231.7 |
Other revenues (1) |  | 61.5 |  |  | — |  |  | 11.9 |  |  | — |  |  | 413.0 |  |  | 486.4 |
Total revenues |  | $ | 61.5 |  |  | $ | 175.3 |  |  | $ | 11.9 |  |  | $ | 48.8 |  |  | $ | 420.6 |  |  | $ | 718.1 |
(1) Other revenues consist of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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