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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Recognized Identified Assets Acquired | 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 the economic lives, acquisition date fair values, accumulated amortization and net carrying values for other intangible assets and goodwill, by company as of December 31, 2021 and 2020:
$ in Millions |  | Weighted Average Economic Life (in years) |  | December 31, 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 |  | 533.4 |  |  | — |  |  | 30.2 |  |  | 503.2 |  |  | 506.4 |  |  | — |  |  | — |  |  | 506.4 |
Kudu |  | N/A |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |  |  | 7.6 |  |  | — |  |  | — |  |  | 7.6 |
Other Operations |  | N/A |  | 17.9 |  |  | — |  |  | — |  |  | 17.9 |  |  | 11.5 |  |  | — |  |  | — |  |  | 11.5 |
Total goodwill |  |  |  | 675.7 |  |  | — |  |  | 30.2 |  |  | 645.5 |  |  | 525.5 |  |  | — |  |  | — |  |  | 525.5 |
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ark |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Underwriting Capacity |  | N/A |  | 175.7 |  |  | — |  |  | — |  |  | 175.7 |  |  | — |  |  | — |  |  | — |  |  | — |
NSM (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 9.0 |  | 159.9 |  |  | 57.0 |  |  | 3.5 |  |  | 99.4 |  |  | 136.2 |  |  | 36.7 |  |  | 3.5 |  |  | 96.0 |
Trade names |  | 18 |  | 68.6 |  |  | 11.9 |  |  | 1.0 |  |  | 55.7 |  |  | 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 |  |  | 15.8 |  |  | — |  |  | 66.7 |  |  | 82.5 |  |  | 4.9 |  |  | — |  |  | 77.6 |
Other |  | 3.3 |  | 1.1 |  |  | .7 |  |  | — |  |  | .4 |  |  | 1.7 |  |  | 1.0 |  |  | — |  |  | .7 |
Subtotal |  |  |  | 315.2 |  |  | 86.8 |  |  | 6.2 |  |  | 222.2 |  |  | 288.9 |  |  | 52.3 |  |  | 6.2 |  |  | 230.4 |
Kudu |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 7 |  | 2.2 |  |  | .9 |  |  | — |  |  | 1.3 |  |  | 2.2 |  |  | .6 |  |  | — |  |  | 1.6 |
Other Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 17.5 |  | 8.2 |  |  | 1.5 |  |  | — |  |  | 6.7 |  |  | 3.6 |  |  | .3 |  |  | — |  |  | 3.3 |
Customer relationships |  | 13.0 |  | 18.8 |  |  | 4.5 |  |  | — |  |  | 14.3 |  |  | 14.2 |  |  | 1.4 |  |  | — |  |  | 12.8 |
Insurance licenses (2) |  | N/A |  | — |  |  | — |  |  | — |  |  | — |  |  | 8.6 |  |  | — |  |  | — |  |  | 8.6 |
Other |  | 5.3 |  | .3 |  |  | .1 |  |  | — |  |  | .2 |  |  | .3 |  |  | .1 |  |  | — |  |  | .2 |
Subtotal | 27.3 |  |  | 6.1 |  |  | — |  |  | 21.2 |  |  | 26.7 |  |  | 1.8 |  |  |  |  | 24.9 |
Total other intangible assets | 520.4 |  |  | 93.8 |  |  | 6.2 |  |  | 420.4 |  |  | 317.8 |  |  | 54.7 |  |  | 6.2 |  |  | 256.9 |
Total goodwill and other intangible assets | $ | 1,196.1 |  |  | $ | 93.8 |  |  | $ | 36.4 |  |  | 1,065.9 |  |  | $ | 843.3 |  |  | $ | 54.7 |  |  | $ | 6.2 |  |  | 782.4 |
Goodwill and other intangible assets attributed to non-controlling interests | (117.6) |  |  |  |  |  |  |  |  | (28.1) |
Goodwill and other intangible assets included in White Mountains’s common shareholders’ equity |  | $ | 948.3 |  |  |  |  |  |  |  |  | $ | 754.3 |
(1) During 2021, NSM’s goodwill and intangible assets includes $(1.5) and $(0.3) of the effect of foreign currency translation. During 2020, NSM’s goodwill and intangible assets includes $13.4 and $1.6 of the effect of foreign currency translation. (2) As of December 31, 2021, White Mountains has classified one of its Other Operating Businesses as held for sale, which includes of $8.6 of insurance licenses. See Note. 21 — “Held for Sale and Discontinued Operations”. The following table presents a summary of the acquisition date fair values of goodwill and other intangible assets for acquisitions completed during 2021 and 2020:
$ in Millions |  |  |  |
Acquisition of Subsidiary/ Asset |  | Goodwill and Other Intangible Assets (1) |  | Acquisition Date
Kingsbridge |  | $ | 131.7 |  |  | April 7, 2020
J.C. Taylor |  | 55.7 |  |  | August 6, 2021
Total NSM segment |  | $ | 187.4 |  |  |
Ark |  | $ | 292.5 |  |  | January 1, 2021
Other Operations |  | $ | 31.1 |  |  | 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.
Schedule of Goodwill and Intangible Assets Rollforward | The following table presents the change in goodwill and other intangible assets:
|  | December 31, 2021 |  | December 31, 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 |
Acquisition of businesses (1) |  | 71.5 |  |  | — |  |  | 71.5 |  |  | 140.0 |  |  | — |  |  | 140.0 |
Ark Transaction |  | 116.8 |  |  | 175.7 |  |  | 292.5 |  |  | — |  |  | — |  |  | — |
Attribution of acquisition date fair value estimates between goodwill and other intangible assets (2) |  | (36.5) |  |  | 36.5 |  |  | — |  |  | (23.2) |  |  | 23.2 |  |  | — |
Measurement period adjustments(5) |  | (.1) |  |  | — |  |  | (.1) |  |  | .6 |  |  | 6.6 |  |  | 7.2 |
Dispositions of businesses |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization |  | — |  |  | (39.8) |  |  | (39.8) |  |  | — |  |  | (28.3) |  |  | (28.3) |
Impairments (3) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.2) |  |  | (6.2) |
Assets held for sale |  |  |  | (8.6) |  |  | (8.6) |  |  | — |  |  | — |  |  | — |
Loss on assets held for sale (4) |  | (30.2) |  |  | — |  |  | (30.2) |  |  | — |  |  | — |  |  | — |
Foreign currency translation |  | (1.5) |  |  | (.3) |  |  | (1.8) |  |  | 13.4 |  |  | 1.6 |  |  | 15.0 |
Ending balance |  | $ | 645.5 |  |  | $ | 420.4 |  |  | $ | 1,065.9 |  |  | $ | 525.5 |  |  | $ | 256.9 |  |  | $ | 782.4 |
(1) During 2021, amounts include acquisition of J.C. Taylor of $55.7 and acquisitions within Other Operations of $15.8. During 2020, amounts include acquisition of Kingsbridge of $125.1 and acquisitions within Other Operations of $14.9. (2) During 2021, the attribution of acquisition date fair value estimates between goodwill and other intangible assets were $27.2 for the acquisition of J.C. Taylor and $9.3 for acquisitions within Other Operations segment. During 2020, the attribution of acquisition date fair value estimates between goodwill and other intangible assets were $13.6 for the acquisition of Kingsbridge and $9.6 for acquisitions within Other Operations segment. (3) In 2020, impairments relate to NSM’s UK vertical. (4) Relates to the sale of NSM’s Fresh Insurance’s motor business recorded in 2021. This amount excludes $1.5 of net proceeds related to the sale. (5) Measurement period adjustments relate to updated information about acquisition date fair values of assets acquired and liabilities assumed. During 2021, adjustments relate to acquisitions within the Other Operations segment. During 2020, adjustments primarily relate to contingent considerations of $4.1 in connection with the acquisition of Kingsbridge and the remaining amount related to acquisitions within Other Operations segment.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | White Mountains expects to recognize amortization expense in each of the next five years as the following table presents:
Millions |  | Amortization Expense
2022 |  | $ | 39.4 |
2023 |  | 36.0 |
2024 |  | 32.7 |
2025 |  | 30.5 |
2026 and years after |  | 106.1 |
Total (1) |  | $ | 244.7 |
(1) Excludes Ark’s indefinite-lived intangible assets of $175.7.

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