Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of debt outstanding

The following table presents the change in debt under the NSM Bank Facility for the three and nine months ended September 30, 2020 and 2019:

NSM Bank Facility	Three Months Ended						Nine Months Ended
	September 30						September 30
Millions	2020			2019			2020			2019
Beginning balance	$	273.4		$	222.3		$	221.3		$	180.4
Term loans
Borrowings (1)	—			—			52.4			42.9
Repayments	(.7		)	(.4		)	(1.3		)	(1.4		)
Foreign currency translation	2.3			—			2.6			—
Revolving credit loan
Borrowings	—			—			—			6.5
Repayments	—			—			—			(6.5		)
Ending balance	275.0			221.9			275.0			221.9

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

The following table presents White Mountains’s debt outstanding as of September 30, 2020 and December 31, 2019:

Millions	September 30, 2020			Effective   Rate (1)	December 31, 2019			Effective   Rate (1)
NSM Bank Facility	$	275.0		7.4%	$	221.3		7.5%
Unamortized issuance cost	(6.2		)		(3.9		)
NSM Bank Facility, carrying value	268.8				217.4
Other NSM debt, carrying value	1.4			2.8%	1.8			3.0%
Kudu Bank Facility	74.0			8.4%	57.0			8.3%
Unamortized issuance cost	(3.0		)		(3.4		)
Kudu Bank Facility, carrying value	71.0				53.6
Other Operations debt	18.8			10.1%	11.1			8.3%
Unamortized issuance cost	(.6		)		(.4		)
Other Operations, carrying value	18.2				10.7
Total debt	$	359.4			$	283.5

 ⁽¹⁾ Effective rate considers the effect of the debt issuance costs.