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v3.23.2

Debt (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of debt outstanding | The following table presents White Mountains’s debt outstanding as of June 30, 2023 and December 31, 2022:
$ in Millions |  | June 30, 2023 |  | Effective Rate | (1) | December 31, 2022 |  | Effective Rate | (1)
HG Global Senior Notes |  | $ | 150.0 |  |  | 11.5% |  | $ | 150.0 |  |  | 8.9% |
Unamortized discount and issuance cost |  | (3.3) |  |  |  |  | (3.5) |  |  |  |
HG Global Senior Notes, carrying value |  | 146.7 |  |  |  |  | 146.5 |  |  |  |
Ark 2007 Subordinated Notes, carrying value |  | 30.0 |  |  |  |  | 30.0 |  |  |  |
Ark 2021 Subordinated Notes Tranche 1 |  | 42.6 |  |  |  |  | 41.3 |  |  |  |
Ark 2021 Subordinated Notes Tranche 2 |  | 47.0 |  |  |  |  | 47.0 |  |  |  |
Ark 2021 Subordinated Notes Tranche 3 |  | 70.0 |  |  |  |  | 70.0 |  |  |  |
Unamortized issuance cost |  | (4.5) |  |  |  |  | (4.6) |  |  |  |
Ark 2021 Subordinated Notes, carrying value |  | 155.1 |  |  |  |  | 153.7 |  |  |  |
Total Ark Subordinated Notes, carrying value |  | 185.1 |  |  | 10.5% |  | 183.7 |  |  | 7.6% |
Kudu Credit Facility |  | 210.3 |  |  | 9.6% |  | 215.2 |  |  | 6.1% |
Unamortized issuance cost |  | (6.6) |  |  |  |  | (6.9) |  |  |  |
Kudu Credit Facility, carrying value |  | 203.7 |  |  |  |  | 208.3 |  |  |  |
Other Operations debt |  | 31.2 |  |  | 9.1% |  | 37.4 |  |  | 6.6% |
Unamortized issuance cost |  | (.6) |  |  |  |  | (.7) |  |  |  |
Other Operations debt, carrying value |  | 30.6 |  |  |  |  | 36.7 |  |  |  |
Total debt |  | $ | 566.1 |  |  |  |  | $ | 575.2 |  |  |  |
(1) Effective rate includes the effect of the amortization of debt issuance costs and, where applicable, the original issue discount. The following table presents the change in debt under the Kudu Credit Facility for the three and six months ended June 30, 2023 and 2022:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions |  | 2023 |  | 2022 |  | 2023 |  | 2022
Kudu Credit Facility |  |  |  |  |  |  |  |
Beginning balance |  | $ | 198.3 |  |  | $ | 225.4 |  |  | $ | 215.2 |  |  | $ | 225.4 |
Term loans |  |  |  |  |  |  |  |
Borrowings |  | 12.0 |  |  | 35.0 |  |  | 12.0 |  |  | 35.0 |
Repayments |  | — |  |  | — |  |  | (16.9) |  |  | — |
Ending balance |  | $ | 210.3 |  |  | $ | 260.4 |  |  | $ | 210.3 |  |  | $ | 260.4 |

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