Employee Share-Based Incentive Compensation Plans (Tables) - White Mountains

9 Months Ended

Sep. 30, 2017

Share-based compensation arrangement by share-based payment award

Summary of performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan

The following table summarizes performance share activity for the three and nine months ended September 30, 2017 and 2016 for performance shares granted under the WTM Incentive Plan:



	Three Months Ended September 30,										Nine Months Ended September 30,
	2017					2016					2017					2016
Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	50,575		$	31.2		73,297		$	32.5		80,353		$	42.4		93,654		$	57.7
Shares paid ⁽¹⁾	—		—			—		—			(30,838	)	(21.6		)	(36,294	)	(41.0		)
New grants	—		—			6,400		—			17,510		—			22,615		—
Forfeitures and cancellations⁽²⁾	(256	)	(.4		)	(160	)	(.1		)	(16,706	)	(9.4		)	(438	)	.2
Expense recognized	—		7.0			—		5.0			—		26.4			—		20.5
End of period⁽³⁾	50,319		$	37.8		79,537		$	37.4		50,319		$	37.8		79,537		$	37.4

⁽¹⁾WTM performance share payments in 2017 for the 2014-2016 performance cycle, which were paid in March 2017, ranged from 34% to 76% of target. WTM performance share payments in 2016 for the 2013-2015 performance cycle, which were paid in April 2016, ranged from 140% to 142% of target.

⁽²⁾Amounts include changes in assumed forfeitures, as required under GAAP.

⁽³⁾Outstanding performance share awards as of September 30, 2017 and 2016 exclude 2,195 and 7,315 performance share awards granted to employees of Sirius Group.

Share-based Compensation, Performance Shares Award Outstanding Activity

The following table summarizes performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan at September 30, 2017 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2015 – 2017	18,370		$	20.6
2016 – 2018	16,235		12.1
2017 – 2019	16,480		5.7
Sub-total	51,085		38.4
Assumed forfeitures	(766	)	(.6		)
September 30, 2017	50,319		$	37.8

Summary of restricted shares activity

The following table summarizes the unrecognized compensation cost associated with the outstanding restricted share awards for the three and nine months ended September 30, 2017 and 2016:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2017					2016				2017					2016
Millions, except share amounts	Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares	Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	53,815		$	23.5		66,470	$	24.2		70,620		$	19.7		70,675		$	15.7
Issued	—		—			4,150	3.4			17,785		16.7			25,365		19.7
Vested	(260	)	—			—	—			(28,846	)	—			(24,620	)	—
Forfeited	—		—			—	—			(6,004	)	(3.5		)	(800	)	.2
Expense recognized	—		(3.8		)	—	(3.8		)	—		(13.2		)	—		(11.8		)
End of period⁽¹⁾	53,555		$	19.7		70,620	$	23.8		53,555		$	19.7		70,620		$	23.8

⁽¹⁾Restricted share awards outstanding as of September 30, 2017 and 2016 include 2,195 and 5,235 restricted shares issued to employees of Sirius Group, which was accounted for as discontinued operations.