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Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Instrument  
Schedule of debt outstanding
The following table presents White Mountains’s debt outstanding as of June 30, 2020 and December 31, 2019:
Millions
 
June 30,
2020
 
Effective
  Rate (1)
 
December 31,
2019
 
Effective
  Rate (1)
NSM Bank Facility
 
$
273.4

 
7.2%
 
$
221.3

 
7.5%
Unamortized issuance cost
 
(6.4
)
 
 
 
(3.9
)
 
 
NSM Bank Facility, carrying value
 
267.0

 
 
 
217.4

 
 
Other NSM debt, carrying value
 
1.4

 
3.2%
 
1.8

 
3.0%
Kudu Bank Facility
 
74.0

 
8.1%
 
57.0

 
8.3%
Unamortized issuance cost
 
(3.2
)
 
 
 
(3.4
)
 
 
Kudu Bank Facility, carrying value
 
70.8

 

 
53.6

 
 
Other Operations debt
 
10.9

 
9.3%
 
11.1

 
8.3%
Unamortized issuance cost
 
(.3
)
 
 
 
(.4
)
 
 
Other Operations, carrying value
 
10.6

 
 
 
10.7

 
 
Total debt
 
$
349.8

 
 
 
$
283.5

 
 

 (1) Effective rate considers the effect of the debt issuance costs.
Term Loan  
Debt Instrument  
Schedule of debt outstanding
The following table presents the change in debt under the NSM Bank Facility for the three and six months ended June 30, 2020 and 2019:
NSM Bank Facility
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
Millions
 
2020
 
2019
 
2020
 
2019
Beginning balance
 
$
220.7

 
$
186.4

 
$
221.3

 
$
180.4

Term loans
 
 
 
 
 
 
 
 
Borrowings (1)
 
52.4

 
42.9

 
52.4

 
42.9

Repayments
 
—

 
(.5
)
 
(.6
)
 
(1.0
)
Foreign currency translation
 
.3

 
—

 
.3

 
—

Revolving credit loan
 
 
 
 
 
 
 
 
Borrowings
 
—

 
—

 
—

 
6.5

Repayments
 
—

 
(6.5
)
 
—

 
(6.5
)
Ending balance
 
273.4

 
222.3

 
273.4

 
222.3

(1) Borrowings for both the three and six months ended June 30, 2020 included $52.4 for the funding of the acquisition of Kingsbridge. Borrowings for the three and six months ended June 30, 2019, included $20.4 and $22.5 for the funding of the acquisitions of Embrace and the Renewal Rights.