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Equity-Method Eligible Investments | 6 Months Ended
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Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Equity-Method Eligible Investments | Equity-Method Eligible Investments White Mountains’s equity method eligible investments include White Mountains’s investment in MediaAlpha, certain other unconsolidated entities, including Kudu’s Participation Contracts, private equity funds and hedge funds in which White Mountains has the ability to exert significant influence over the investee’s operating and financial policies. The following table presents the basic ownership interests and carrying values of White Mountains’s equity method eligible investments as of June 30, 2021 and December 31, 2020:
|  | June 30, 2021 |  | December 31, 2020
Millions |  | Basic Ownership Interest |  | Carrying Value |  | Basic Ownership Interest |  | Carrying Value
Investment in MediaAlpha |  | 28.4 | % |  | $ | 713.2 |  |  | 35.0 | % |  | $ | 802.2 |
Kudu Participation Contracts |  | 3.2 - 32.7% |  | 455.5 |  |  | 3.2 - 35.0% |  | 400.6 |
PassportCard/DavidShield |  | 53.8 | % |  | 95.0 |  |  | 53.8 | % |  | 95.0 |
Elementum Holdings, L.P. |  | 29.7 | % |  | 56.7 |  |  | 28.9 | % |  | 55.1 |
Other equity method eligible investments, at fair value |  | Under 50.0% |  | 100.9 |  |  | Under 50.0% |  | 132.2 |
Other equity method eligible investments, at fair value |  | 50.0% and over |  | 16.6 |  |  | 50.0% and over |  | 15.2 |
For the three and six months ended June 30, 2021, White Mountains received dividend and income distributions from equity method eligible investments of $11.0 million, and $24.7 million, which were recorded within net investment income in the consolidated statement of operations. For the three and six months ended June 30, 2020, White Mountains received dividend and income distributions from equity method eligible investments of $10.0 million, and $21.4 million, which were recorded within net investment income in the consolidated statement of operations. Subsequent to the MediaAlpha IPO, White Mountains’s investment in MediaAlpha is accounted for at fair value based on the publicly traded share price of MediaAlpha’s common stock and White Mountains presents its investment in MediaAlpha as a separate line item on the balance sheet. See Note 2 — “Significant Transactions”. For the six months ended June 30, 2021 and 2020, MediaAlpha was considered a significant subsidiary. The following tables present summarized financial information for MediaAlpha as of June 30, 2021 and 2020:
Millions |  | June 30, 2021 |  | December 31, 2020 |  |
Balance sheet data: |  |  |  |  |  |
Total assets |  | $ | 236.4 |  |  | $ | 210.3 |  |  |
Total liabilities |  | $ | 315.6 |  |  | $ | 315.5 |  |  |
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
Millions |  | 2021 |  | 2020 |  | 2021 |  | 2020
Income statement data: |  |  |  |  |  |  |  |
Total revenues |  | $ | 157.4 |  |  | $ | 123.6 |  |  | $ | 330.9 |  |  | $ | 243.1 |
Total expenses |  | $ | 157.8 |  |  | $ | 113.5 |  |  | $ | 331.1 |  |  | $ | 224.1 |
Net income |  | $ | (.4) |  |  | $ | 10.1 |  |  | $ | (.2) |  |  | $ | 19.0 |

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- References No definition available. + Details
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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