Equity-Method Eligible Investments (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Equity Method Investments [Line Items]

Schedule of changes in unconsolidated affiliates

The following table presents the carrying values of White Mountains’s equity method eligible investments recorded within other long-term investments as of December 31, 2019 and 2018:

	December 31,
Millions	2019		2018
Equity method eligible investments, at fair value	$	761.7	$	269.7
Other (1)	94.6		55.9
Total other long-term investments	$	856.3	$	325.6

⁽¹⁾ Consists of other long-term investments that are not equity method eligible

Summarized statement of financial position

The following table presents White Mountains’s significant equity method eligible investments as of December 31, 2019 and 2018:

	Basic Ownership Interest
Investee	December 31, 2019	December 31, 2018	Instrument Held
PassportCard/DavidShield	50.0%	50.0%	Common shares
MediaAlpha (1)	48.3%	n/a	Units
durchblicker	45.0%	45.0%	Common shares
Elementum Holdings, L.P.	30.0%	n/a	Limited partnership interest
Compare.com	18.4%	18.4%	Common shares
Tuckerman Capital Funds (2)	17.5 - 62.4%	18.5 - 62.3%	Limited and general partnership interests
JAM Partners L.P.	11.1%	12.3%	Limited partnership interest
Enlightenment Capital Funds	10.0 - 38.4%	10.3 - 36.5%	Limited and general partnership interests
Kudu’s Participation Contracts (3)	3.2 - 30.0%	n/a	Revenue and earnings participation contracts
Kudu (3)	n/a	49.5%	Units

⁽¹⁾ As of December 31, 2018, MediaAlpha was a majority-owned consolidated subsidiary of White Mountains. See Note 2 — “Significant Transactions”

⁽²⁾ As of December 31, 2018, includes White Mountains’s direct investment in Galvanic Applied Sciences.

⁽³⁾ As of December 31, 2019 White Mountains consolidates Kudu. See Note 2 — “Significant Transactions”.

Financials

Schedule of Equity Method Investments [Line Items]

Summarized statement of financial position

The following tables present aggregated summarized financial information for White Mountains’s investments in equity method eligible unconsolidated entities, excluding MediaAlpha:

	December 31,
Millions	2019		2018
Balance sheet data (1):
Total assets	$	1,959.2	$	1,373.3
Total liabilities	$	653.2	$	509.2

⁽¹⁾ Financial data for White Mountains’s equity method eligible investees is generally reported on a one-quarter lag.

	Year Ended December 31,
Millions	2019		2018		2017
Income statement data (1):
Revenues	$	344.6	$	226.0	$	143.3
Expenses	$	88.3	$	141.4	$	80.5
Net Income	$	255.1	$	83.6	$	65.3

⁽¹⁾ Financial data for White Mountains’s equity method eligible investees is generally reported on a one-quarter lag.

The following tables present summarized financial information for MediaAlpha:

        

	December 31,
Millions	2019		2018
Balance sheet data:
Total assets	$	106.9	$	88.5
Total liabilities	$	144.6	$	46.9

	Year Ended December 31,
Millions	2019		2018		2017
Income statement data:
Total revenues	$	407.9	$	297.1	$	163.2
Total expenses	$	389.0	$	288.2	$	163.5
Net income (loss)	$	18.9	$	8.9	$	(0.3	)