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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Summary of the fair value and carrying value of financial instruments | The following table presents the fair value and carrying value of this financial instrument as of March 31, 2021 and December 31, 2020:
|  | March 31, 2021 |  | December 31, 2020
Millions |  | Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
Ark Subordinated Notes (1) |  | $ | 44.1 |  |  | $ | 44.1 |  |  | $ | — |  |  | $ | — |
NSM Bank Facility |  | $ | 275.6 |  |  | $ | 271.5 |  |  | $ | 279.3 |  |  | $ | 271.3 |
Other NSM debt |  | $ | 1.3 |  |  | $ | 1.2 |  |  | $ | 1.3 |  |  | $ | 1.3 |
Kudu Credit Facility (2) |  | $ | 102.0 |  |  | $ | 95.9 |  |  | $ | — |  |  | $ | — |
Kudu Bank Facility |  | $ | — |  |  | $ | — |  |  | $ | 89.3 |  |  | $ | 86.3 |
Other Operations debt |  | $ | 18.3 |  |  | $ | 17.0 |  |  | $ | 18.8 |  |  | $ | 17.5 |
(1) As of March 31, 2021, White Mountains measured the fair value of the Ark Bank Facility Notes at the carrying value as a result of the debt being acquired on January 1, 2021. See Note 7 — “Debt”. (2) As of March 31, 2021, White Mountains measured the fair value of the Kudu Credit Facility debt at the carrying value, before unamortized issuance costs, as a result of the debt being refinanced on March 23, 2021.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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