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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Computation of earnings per share | The following table presents the Company’s computation of earnings per share from continuing operations for the three and six months ended June 30, 2022 and 2021. See Note 19 — “Held for Sale and Discontinued Operations.”
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders |  | $ | (169.2) |  |  | $ | 138.5 |  |  | $ | (135.8) |  |  | $ | 63.2 |
Less: total income (loss) from discontinued operations, net of tax (1) |  | 6.4 |  |  | 1.1 |  |  | 10.1 |  |  | (10.4) |
Less: net (income) loss from discontinued operations attributable to non-controlling interests |  | $ | (.5) |  |  | $ | — |  |  | $ | (.6) |  |  | $ | 1.1 |
Net income (loss) from continuing operations attributable to White Mountains’s common shareholders |  | $ | (175.1) |  |  | $ | 137.4 |  |  | $ | (145.3) |  |  | $ | 72.5 |
Allocation of (earnings) losses to participating restricted common shares (2) |  | 2.2 |  |  | (1.7) |  |  | 1.6 |  |  | (.9) |
Basic and diluted earnings (losses) per share numerators |  | $ | (172.9) |  |  | $ | 135.7 |  |  | $ | (143.7) |  |  | $ | 71.6 |
Basic earnings per share denominators (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 2,979.0 |  |  | 3,107.8 |  |  | 2,992.5 |  |  | 3,104.0 |
Average unvested restricted common shares (3) |  | (38.3) |  |  | (37.8) |  |  | (33.9) |  |  | (35.1) |
Basic earnings (losses) per share denominator |  | 2,940.7 |  |  | 3,070.0 |  |  | 2,958.6 |  |  | 3,068.9 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 2,979.0 |  |  | 3,107.8 |  |  | 2,992.5 |  |  | 3,104.0 |
Average unvested restricted common shares (3) |  | (38.3) |  |  | (37.8) |  |  | (33.9) |  |  | (35.1) |
Diluted earnings (losses) per share denominator |  | 2,940.7 |  |  | 3,070.0 |  |  | 2,958.6 |  |  | 3,068.9 |
Basic and diluted earnings per share (in dollars) - continuing operations: |  |  |  |  |  |  |  |
Distributed earnings - dividends declared and paid |  | $ | — |  |  | $ | — |  |  | $ | 1.00 |  |  | $ | 1.00 |
Undistributed earnings (losses) |  | (58.78) |  |  | 44.21 |  |  | (49.57) |  |  | 22.35 |
Basic and diluted earnings (losses) per share |  | $ | (58.78) |  |  | $ | 44.21 |  |  | $ | (48.57) |  |  | $ | 23.35 |
(1) Includes net gain (loss) from sale of Sirius Group, net of tax and net income (loss) from NSM Group discontinued operations, net of tax. See Note 19 — “Held for Sale and Discontinued Operations.” (2) Restricted shares issued by White Mountains receive dividends and are therefore considered participating securities. (3) Restricted shares outstanding vest upon a stated date. See Note 12 — “Employee Share-Based Incentive Compensation Plans.”
Schedule of Undistributed Net Earnings (Losses) from Continuing Operations | The following table presents the undistributed net earnings (losses) from continuing operations for the three and six months ended June 30, 2022 and 2021. See Note 19 — “Held for Sale and Discontinued Operations.”
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
Millions |  | 2022 |  | 2021 |  | 2022 |  | 2021
Undistributed net earnings (losses) - continuing operations: |  |  |  |  |  |  |  |
Net income (losses) attributable to White Mountains’s common shareholders, net of restricted common share amounts |  | $ | (172.9) |  |  | $ | 135.7 |  |  | $ | (143.7) |  |  | $ | 71.6 |
Dividends declared, net of restricted common share amounts (1) |  | — |  |  | — |  |  | (3.0) |  |  | (3.1) |
Total undistributed net earnings (losses), net of restricted common share amounts |  | $ | (172.9) |  |  | $ | 135.7 |  |  | $ | (146.7) |  |  | $ | 68.5 |
(1) Restricted shares issued by White Mountains receive dividends and are therefore considered participating securities.

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