Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

White Mountains has recognized goodwill and other intangible assets at the acquisition date fair values in connection with its purchases of subsidiaries.

During the quarter ended June 30, 2018, White Mountains completed its acquisition of NSM, recognizing $381.9 million of goodwill and other intangible assets, and its acquisition of Fresh Insurance, recognizing $54.3 million of goodwill and other intangible assets, reflecting acquisition date fair values. The relative fair values of goodwill and of the other intangible assets recognized in connection with the acquisitions of NSM and Fresh Insurance had not yet been determined at June 30, 2018.

The following table presents the change in goodwill and other intangible assets:



	Three Months Ended June 30,
	2018								2017
Millions	Goodwill		Other intangible assets			Total Goodwill and other intangible assets			Goodwill		Other intangible assets			Total Goodwill and other intangible assets
Beginning balance	$	25.9	$	33.3		$	59.2		$	25.9	$	17.0		$	42.9
Amortization, including foreign currency translation	—		(2.6		)	(2.6		)	—		(2.6		)	(2.6		)
Subtotal	$	25.9	$	30.7		$	56.6		$	25.9	$	14.4		$	40.3
Acquisition of businesses						436.2								—
Ending balance						$	492.8							$	40.3



	Six Months Ended June 30,
	2018								2017
Millions	Goodwill		Other intangible assets			Total Goodwill and other intangible assets			Goodwill		Other intangible assets			Total Goodwill and other intangible assets
Beginning balance	$	25.9	$	36.2		$	62.1		$	25.9	$	19.3		$	45.2
Amortization, including foreign currency translation	—		(5.5		)	(5.5		)	—		(4.9		)	(4.9		)
Subtotal	$	25.9	$	30.7		$	56.6		$	25.9	$	14.4		$	40.3
Acquisition of businesses						436.2								—
Ending balance						$	492.8							$	40.3

The following table presents the goodwill and other intangible assets as of June 30, 2018 and December 31, 2017:



Millions	June 30, 2018			December 31, 2017
Goodwill and other intangible assets:
NSM	$	436.2		$	—
MediaAlpha	48.3			53.7
Other	8.3			8.4
Total goodwill and other intangible assets	492.8			62.1
Goodwill and other intangible assets attributed to non-controlling interests	(41.7		)	(21.1		)
Goodwill and other intangible assets included in White Mountains’s common shareholders’ equity	$	451.1		$	41.0

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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