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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Goodwill | The following table presents the acquisition date fair values, accumulated amortization and net carrying values for other intangible assets and goodwill, by segment as of June 30, 2021 and December 31, 2020:
$ in Millions |  | Weighted Average Economic Life (in years) |  | June 30, 2021 |  | December 31, 2020
| Acquisition Date Fair Value |  | Accumulated Amortization |  | Impairments and Amounts Allocated to Held for Sale |  | Net Carrying Value |  | Acquisition Date Fair Value |  | Accumulated Amortization |  | Impairments |  | Net Carrying Value
Goodwill: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ark |  | N/A |  | $ | 116.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 116.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
NSM (1) |  | N/A |  | 508.1 |  |  | — |  |  | 30.2 |  |  | 477.9 |  |  | 506.4 |  |  | — |  |  | — |  |  | 506.4 |
Kudu |  | N/A |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |  |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |
Other Operations |  | N/A |  | 27.1 |  |  | — |  |  | — |  |  | 27.1 |  |  | 11.5 |  |  | — |  |  | — |  |  | 11.5 |
Total goodwill |  |  |  | 659.6 |  |  | — |  |  | 30.2 |  |  | 629.4 |  |  | 525.5 |  |  | — |  |  | — |  |  | 525.5 |
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ark |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Underwriting Capacity | N/A |  | 175.7 |  |  | — |  |  | — |  |  | 175.7 |  |  | — |  |  | — |  |  | — |  |  | — |
NSM (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 8.9 |  | 136.4 |  |  | 46.3 |  |  | 3.5 |  |  | 86.6 |  |  | 136.2 |  |  | 36.7 |  |  | 3.5 |  |  | 96.0 |
Trade names |  | 16 |  | 65.5 |  |  | 10.0 |  |  | 1.0 |  |  | 54.5 |  |  | 65.4 |  |  | 8.3 |  |  | 1.0 |  |  | 56.1 |
Information technology platform |  | 0 |  | 3.1 |  |  | 1.4 |  |  | 1.7 |  |  | — |  |  | 3.1 |  |  | 1.4 |  |  | 1.7 |  |  | — |
Renewal rights |  | 12 |  | 82.5 |  |  | 10.4 |  |  | — |  |  | 72.1 |  |  | 82.5 |  |  | 4.9 |  |  | — |  |  | 77.6 |
Other |  | 3.4 |  | 1.7 |  |  | 1.2 |  |  | — |  |  | .5 |  |  | 1.7 |  |  | 1.0 |  |  | — |  |  | .7 |
Subtotal |  |  |  | 289.2 |  |  | 69.3 |  |  | 6.2 |  |  | 213.7 |  |  | 288.9 |  |  | 52.3 |  |  | 6.2 |  |  | 230.4 |
Kudu |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 7 |  | 2.2 |  |  | .7 |  |  | — |  |  | 1.5 |  |  | 2.2 |  |  | .6 |  |  | — |  |  | 1.6 |
Other Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 9.6 |  | 3.6 |  |  | .5 |  |  | — |  |  | 3.1 |  |  | 3.6 |  |  | .3 |  |  | — |  |  | 3.3 |
Customer relationships |  | 10.7 |  | 14.2 |  |  | 2.1 |  |  | — |  |  | 12.1 |  |  | 14.2 |  |  | 1.4 |  |  | — |  |  | 12.8 |
Insurance Licenses |  | N/A |  | 8.6 |  |  | — |  |  | — |  |  | 8.6 |  |  | 8.6 |  |  | — |  |  | — |  |  | 8.6 |
Other |  | 5.4 |  | .3 |  |  | .2 |  |  | — |  |  | .1 |  |  | .3 |  |  | .1 |  |  | — |  |  | .2 |
Subtotal |  |  |  | 26.7 |  |  | 2.8 |  |  | — |  |  | 23.9 |  |  | 26.7 |  |  | 1.8 |  |  | — |  |  | 24.9 |
Total other intangible assets | 493.8 |  |  | 72.8 |  |  | 6.2 |  |  | 414.8 |  |  | 317.8 |  |  | 54.7 |  |  | 6.2 |  |  | 256.9 |
Total goodwill and other intangible assets | $ | 1,153.4 |  |  | $ | 72.8 |  |  | $ | 36.4 |  |  | 1,044.2 |  |  | $ | 843.3 |  |  | $ | 54.7 |  |  | 6.2 |  |  | 782.4 |
Goodwill and other intangible assets attributed to non-controlling interests |  | (115.9) |  |  |  |  |  |  |  |  | (28.1) |
Goodwill and other intangible assets included in White Mountains’s common shareholders’ equity |  | $ | 928.3 |  |  |  |  |  |  |  |  | $ | 754.3 |
(1) As of June 30, 2021, NSM’s goodwill and intangible assets included $1.5 and $0.2 of the effect of foreign currency translation. As of December 31, 2020, NSM’s goodwill and intangible assets included $13.4 and $1.6 of the effect of foreign currency translation. The following tables present the change in goodwill and other intangible assets for the three and six months ended June 30, 2021 and 2020:
|  | Three Months Ended June 30,
|  | 2021 |  | 2020
Millions |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets
Beginning balance |  | $ | 613.4 |  |  | $ | 423.6 |  |  | $ | 1,037.0 |  |  | $ | 392.4 |  |  | $ | 254.4 |  |  | $ | 646.8 |
Acquisition of businesses |  | 15.8 |  | (1) | — |  |  | 15.8 |  |  | 125.1 |  | (2) | — |  |  | 125.1 |
Foreign currency translation |  | .2 |  |  | (.1) |  |  | .1 |  |  | .7 |  |  | .1 |  |  | .8 |
Impairments |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.2) |  |  | (6.2) |
Amortization |  | — |  |  | (8.7) |  |  | (8.7) |  |  | — |  |  | (6.6) |  |  | (6.6) |
Ending balance |  | $ | 629.4 |  |  | $ | 414.8 |  |  | $ | 1,044.2 |  |  | $ | 518.2 |  |  | $ | 241.7 |  |  | $ | 759.9 |
(1) The relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of Other Operations had not yet been finalized at June 30, 2021. (2) The relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of Kingsbridge had not yet been finalized at June 30, 2020.
|  | Six Months Ended June 30,
|  | 2021 |  | 2020
Millions |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets |  | Goodwill |  | Other Intangible Assets |  | Total Goodwill and Other Intangible Assets
Beginning balance |  | $ | 525.5 |  |  | $ | 256.9 |  |  | $ | 782.4 |  |  | $ | 394.7 |  |  | $ | 260.0 |  |  | $ | 654.7 |
Ark Transaction |  | 116.8 |  |  | 175.7 |  |  | 292.5 |  |  | — |  |  | — |  |  | — |
Acquisition of businesses |  | 15.8 |  | (3) | — |  |  | 15.8 |  |  | 125.1 |  | (4) | — |  |  | 125.1 |
Foreign currency translation |  | 1.7 |  |  | .1 |  |  | 1.8 |  |  | (1.8) |  |  | (.4) |  |  | (2.2) |
Impairments |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.2) |  |  | (6.2) |
Loss on assets held for sale (1) |  | (30.2) |  |  | — |  |  | (30.2) |  |  | — |  |  | — |  |  | — |
Measurement period adjustments (2) |  | (.2) |  |  | — |  |  | (.2) |  |  | .2 |  |  | — |  |  | .2 |
Amortization |  | — |  |  | (17.9) |  |  | (17.9) |  |  | — |  |  | (11.7) |  |  | (11.7) |
Ending balance |  | $ | 629.4 |  |  | $ | 414.8 |  |  | $ | 1,044.2 |  |  | $ | 518.2 |  |  | $ | 241.7 |  |  | $ | 759.9 |
(1) Relates to the sale of NSM’s Fresh Insurance’s motor business recorded in the first quarter of 2021. This amount excludes $1.5 of net proceeds related to the sale. (2) Measurement period adjustments relate to updated information about acquisition date fair values of assets acquired and liabilities assumed. During the six months ended June 30, 2021, adjustments primarily relate to the acquisition within the Other Operations segment. (3) The relatives fair values of goodwill and other intangible assets recognized in connection with the acquisition within Other Operations had not yet been finalized at June 30, 2021. (4) The relatives fair values of goodwill and other intangible assets recognized in connection with the acquisition of Kingsbridge had not yet been finalized at June 30, 2020
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following presents additional details of the assets acquired and liabilities assumed as of the January 1, 2021 acquisition date:
Millions |  | As of January 1, 2021 |
Investments |  | $ | 594.3 |
Cash |  | 52.0 | (1)
Reinsurance recoverables |  | 433.4 |
Insurance premiums receivable |  | 236.7 |
Ceded unearned premiums |  | 170.2 |
Value of in-force business acquired |  | 71.7 |
Other assets |  | 88.9 |
Loss and loss adjustment expense reserves |  | (696.0) |
Unearned insurance premiums |  | (326.1) |
Debt |  | (46.4) |
Ceded reinsurance payable |  | (528.3) |
Other liabilities |  | (25.9) |
Net tangible assets acquired |  | 24.5 |
Goodwill |  | 116.8 |
Other intangible assets - syndicate underwriting capacity |  | 175.7 |
Deferred tax liability on other intangible assets |  | (33.4) |
Net assets acquired |  | $ | 283.6 |
(1) Cash excludes the White Mountains cash contribution of $605.4 as part of the Ark transaction. The following table presents a summary of the acquisition date fair values of goodwill and other intangible assets for acquisitions completed from January 1, 2020 through June 30, 2021:
$ in Millions |  |  |  |
Acquisition of subsidiary/ asset |  | Goodwill and Other intangible asset (1) |  | Acquisition Date
Kingsbridge |  | $ | 131.7 |  |  | April 7, 2020
Ark |  | $ | 292.5 |  |  | January 1, 2021
Other Operations |  | $ | 31.0 |  |  | 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.

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- 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=121647850&loc=d3e4845-128472 + Details
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