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Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Summary of Lease Expense

The following table summarizes net lease expense recognized in White Mountains’s consolidated statement of operations for the three and nine months ended September 30, 2021 and 2020:

Millions						Three Months Ended September 30,												Nine Months Ended September 30,
Lease Cost						2021						2020						2021						2020
Lease cost						$	2.7					$	1.6					$	7.2					$	5.7
Less: sublease income						.1						.1						.3						.3
Net lease cost						$	2.6					$	1.5					$	6.9					$	5.4

Schedule of Future Maturities of Operating Lease Liabilities, Lessee

The following table presents the contractual maturities of the lease liabilities associated with White Mountains’s operating lease agreements as of September 30, 2021:

Millions						As of September 30, 2021
Remainder of 2021						$	2.0
2022						10.8
2023						9.8
2024						8.5
2025						6.7
Thereafter						16.4
Total undiscounted lease payments						54.2
Less: present value adjustment						8.3
Operating lease liability						$	45.9

Schedule of Right-of-Use Assets and Lease Liabilities

The following tables present lease related assets and liabilities by reportable segment as of September 30, 2021 and December 31, 2020:

						As of September 30, 2021
Millions						HG/BAM						Ark						NSM						Kudu						Other Operations						Total						Weighted Average Incremental Borrowing Rate (1)
ROU lease asset						$	8.0					$	7.0					$	13.8					$	6.7					$	7.4					$	42.9					5.0%
Lease liability						$	8.6					$	7.0					$	15.0					$	7.1					$	8.2					$	45.9

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.

						As of December 31, 2020
Millions						HG/BAM						NSM						Kudu						Other Operations						Total						Weighted Average Incremental Borrowing Rate (1)
ROU lease asset						$	10.1					$	17.1					$	2.0					$	8.4					$	37.6					4.6%
Lease liability						$	10.1					$	17.1					$	2.0					$	9.1					$	38.3

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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- References

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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- Definition

Schedule of Right-of-Use Assets and Lease Liabilities [Table Text Block]

+ References

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