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Debt (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of debt outstanding | The following table presents White Mountains’s debt outstanding as of September 30, 2022 and December 31, 2021:
$ in Millions |  | September 30, 2022 |  | Effective Rate | (1) | December 31, 2021 |  | Effective Rate | (1)
HG Global Senior Notes |  | $ | 150.0 |  |  | 8.6% |  | $ | — |  |  | N/A |
Unamortized discount and issuance cost |  | (3.6) |  |  |  |  | — |  |  |  |
HG Global Senior Notes, carrying value |  | 146.4 |  |  |  |  | — |  |  |  |
Ark 2007 Subordinated Notes, carrying value |  | 30.0 |  |  |  |  | 30.0 |  |  |  |
Ark 2021 Notes Tranche 1 |  | 37.6 |  |  |  |  | 44.2 |  |  |  |
Ark 2021 Notes Tranche 2 |  | 47.0 |  |  |  |  | 47.0 |  |  |  |
Ark 2021 Notes Tranche 3 |  | 70.0 |  |  |  |  | 70.0 |  |  |  |
Unamortized issuance cost |  | (4.6) |  |  |  |  | (5.3) |  |  |  |
Ark 2021 Subordinated Notes, carrying value |  | 150.0 |  |  |  |  | 155.9 |  |  |  |
Total Ark Subordinated Notes, carrying value |  | 180.0 |  |  | 7.3% |  | 185.9 |  |  | 6.9% |
Kudu Credit Facility |  | 260.4 |  |  | 5.6% |  | 225.4 |  |  | 4.3% |
Unamortized issuance cost |  | (6.9) |  |  |  |  | (7.2) |  |  |  |
Kudu Credit Facility, carrying value |  | 253.5 |  |  |  |  | 218.2 |  |  |  |
Other Operations debt |  | 36.4 |  |  | 7.1% |  | 17.1 |  |  | 7.5% |
Unamortized issuance cost |  | (.8) |  |  |  |  | (.3) |  |  |  |
Other Operations debt, carrying value |  | 35.6 |  |  |  |  | 16.8 |  |  |  |
Total debt |  | $ | 615.5 |  |  |  |  | $ | 420.9 |  |  |  |
(1) Effective rate includes the effect of the amortization of debt issuance costs. The following table presents the change in debt under the Kudu Bank Facility and Kudu Credit Facility for the three and nine months ended September 30, 2022 and 2021:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Millions |  | 2022 |  | 2021 |  | 2022 |  | 2021
Kudu Bank Facility |  |  |  |  |  |  |  |
Beginning balance |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 89.2 |
Term loans |  |  |  |  |  |  |  |
Borrowings |  | — |  |  | — |  |  | — |  |  | 3.0 |
Repayments |  | — |  |  | — |  |  | — |  |  | (92.2) |
Ending balance |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Kudu Credit Facility |  |  |  |  |  |  |  |
Beginning balance |  | $ | 260.4 |  |  | $ | 203.0 |  |  | $ | 225.4 |  |  | $ | — |
Term loans |  |  |  |  |  |  |  |
Borrowings |  | — |  |  | — |  |  | 35.0 |  |  | 203.0 |
Repayments |  | — |  |  | — |  |  | — |  |  | — |
Ending balance |  | $ | 260.4 |  |  | $ | 203.0 |  |  | $ | 260.4 |  |  | $ | 203.0 |

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