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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2023 and 2022. See Note 19 — “Held for Sale and Discontinued Operations.”
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Basic and diluted earnings per share numerators (in millions): |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders |  | $ | 19.6 |  |  | $ | (169.2) |  |  | $ | 199.1 |  |  | $ | (135.8) |
Less: total income (loss) from discontinued operations, net of tax (1) |  | — |  |  | 6.4 |  |  | — |  |  | 10.1 |
Less: net (income) loss from discontinued operations attributable to noncontrolling interests |  | — |  |  | (.5) |  |  | — |  |  | (.6) |
Net income (loss) from continuing operations attributable to White Mountains’s common shareholders |  | 19.6 |  |  | (175.1) |  |  | 199.1 |  |  | (145.3) |
Allocation of (earnings) losses to participating restricted common shares (2) |  | (.3) |  |  | 2.2 |  |  | (2.7) |  |  | 1.6 |
Basic and diluted earnings (losses) per share numerators |  | $ | 19.3 |  |  | $ | (172.9) |  |  | $ | 196.4 |  |  | $ | (143.7) |
Basic earnings per share denominators (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 2,562.4 |  |  | 2,979.0 |  |  | 2,566.1 |  |  | 2,992.5 |
Average unvested restricted common shares (3) |  | (37.6) |  |  | (38.3) |  |  | (34.4) |  |  | (33.9) |
Basic earnings (losses) per share denominator |  | 2,524.8 |  |  | 2,940.7 |  |  | 2,531.7 |  |  | 2,958.6 |
Diluted earnings per share denominator (in thousands): |  |  |  |  |  |  |  |
Total average common shares outstanding during the period |  | 2,562.4 |  |  | 2,979.0 |  |  | 2,566.1 |  |  | 2,992.5 |
Average unvested restricted common shares (3) |  | (37.6) |  |  | (38.3) |  |  | (34.4) |  |  | (33.9) |
Diluted earnings (losses) per share denominator |  | 2,524.8 |  |  | 2,940.7 |  |  | 2,531.7 |  |  | 2,958.6 |
Basic and diluted earnings per share (in dollars) - continuing operations: |  |  |  |  |  |  |  |
Distributed earnings - dividends declared and paid |  | $ | — |  |  | $ | — |  |  | $ | 1.00 |  |  | $ | 1.00 |
Undistributed earnings (losses) |  | 7.65 |  |  | (58.78) |  |  | 76.57 |  |  | (49.57) |
Basic and diluted earnings (losses) per share |  | $ | 7.65 |  |  | $ | (58.78) |  |  | $ | 77.57 |  |  | $ | (48.57) |
(1) Includes net income (loss) from discontinued operations, net of tax - NSM Group. See Note 19 — “Held for Sale and Discontinued Operations.” (2) Restricted shares issued by White Mountains receive dividends, and therefore, are 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, 2023 and 2022. See Note 19 — “Held for Sale and Discontinued Operations.”
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions |  | 2023 |  | 2022 |  | 2023 |  | 2022
Undistributed net earnings - continuing operations: |  |  |  |  |  |  |  |
Net income (loss) attributable to White Mountains’s common shareholders, net of restricted common share amounts |  | $ | 19.3 |  |  | $ | (172.9) |  |  | $ | 196.4 |  |  | $ | (143.7) |
Dividends declared, net of restricted common share amounts (1) |  | — |  |  | — |  |  | (2.5) |  |  | (3.0) |
Total undistributed net earnings (losses), net of restricted common share amounts |  | $ | 19.3 |  |  | $ | (172.9) |  |  | $ | 193.9 |  |  | $ | (146.7) |
(1) Restricted shares issued by White Mountains receive dividends, and therefore, are considered participating securities.

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