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v3.22.2.2

Leases (Tables) | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Summary of Lease Expense | The following table summarizes net lease expense recognized in White Mountains’s consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021:
Millions |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Lease Cost |  | 2022 |  | 2021 |  | 2022 |  | 2021
Lease cost |  | $ | 1.9 |  |  | $ | 1.9 |  |  | $ | 5.9 |  |  | $ | 4.8 |
Less: sublease income |  | .2 |  |  | .1 |  |  | .5 |  |  | .3 |
Net lease cost |  | $ | 1.7 |  |  | $ | 1.8 |  |  | $ | 5.4 |  |  | $ | 4.5 |
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, 2022:
Millions |  | As of September 30, 2022
Remainder of 2022 |  | $ | 1.7 |
2023 |  | 8.1 |
2024 |  | 7.1 |
2025 |  | 4.9 |
2026 |  | 2.6 |
Thereafter |  | 5.0 |
Total undiscounted lease payments |  | 29.4 |
Less: present value adjustment |  | 2.9 |
Operating lease liabilities |  | $ | 26.5 |
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, 2022 and December 31, 2021:
|  | As of September 30, 2022
Millions |  | HG/BAM |  | Ark |  |  |  | Kudu |  | Other Operations |  | Total |  | Weighted Average Incremental Borrowing Rate (1)
ROU lease assets |  | $ | 6.2 |  |  | $ | 6.6 |  |  |  |  | $ | 5.9 |  |  | $ | 5.8 |  |  | $ | 24.5 |  |  | 4.1%
Lease liabilities |  | $ | 6.7 |  |  | $ | 6.6 |  |  |  |  | $ | 6.8 |  |  | $ | 6.4 |  |  | $ | 26.5 |  |
(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, 2021
Millions |  | HG/BAM |  | Ark |  |  |  | Kudu |  | Other Operations |  | Total |  | Weighted Average Incremental Borrowing Rate (1)
ROU lease assets |  | $ | 7.6 |  |  | $ | 7.0 |  |  |  |  | $ | 6.4 |  |  | $ | 7.1 |  |  | $ | 28.1 |  |  | 4.0%
Lease liabilities |  | $ | 8.1 |  |  | $ | 7.0 |  |  |  |  | $ | 7.1 |  |  | $ | 7.8 |  |  | $ | 30.0 |  |
(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.

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- 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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- 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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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