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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Recognized Identified Assets Acquired
The following table presents the economic lives, acquisition date fair values, accumulated amortization and net carrying values for other intangible assets and goodwill, by company as of December 31, 2020 and 2019:
$ in MillionsWeighted Average Economic
Life
(in years)
December 31, 2020December 31, 2019
Acquisition Date Fair ValueAccumulated AmortizationImpairmentsNet Carrying ValueAcquisition Date Fair ValueAccumulated AmortizationImpairmentsNet Carrying Value
Goodwill:
NSM (1)(2)
N/A$506.4 $ $ $506.4 $381.6 $— $ $381.6 
KuduN/A7.6  — 7.6 7.6 — — 7.6 
Other OperationsN/A11.5  — 11.5 13.1 — 7.6 5.5 
Total goodwill525.5  — 525.5 402.3 — 7.6 394.7 
Other intangible
assets:
NSM (1)(2)
   Customer
relationships
8.9136.2 36.7 3.5 96.0 121.7 19.8 1.4 100.5 
   Trade names1665.4 8.3 1.0 56.1 61.9 5.3 .4 56.2 
   Information
technology
platform
03.1 1.4 1.7  3.9 1.4 .6 1.9 
Renewal rights1282.5 4.9  77.6 82.5 .7 — 81.8 
Other3.41.7 1.0 — .7 1.7 .7 — 1.0 
      Subtotal288.9 52.3 6.2 230.4 271.7 27.9 2.4 241.4 
Kudu
   Trade names72.2 .6  1.6 2.2 .2 — 2.0 
Other Operations
   Trade names9.63.6 .3  3.3 1.7 .5 .2 1.0 
Customer
relationships
10.714.2 1.4 — 12.8 7.2 .4 — 6.8 
Information
technology
platform
5— — — — .5 .3 .2 — 
Insurance
licenses
N/A8.6  — 8.6 8.6 — — 8.6 
Other5.4.3 .1  .2 .2 — — .2 
Subtotal26.7 1.8 24.9 18.2 1.2 .4 16.6 
Total other intangible assets317.8 54.7 6.2 256.9 292.1 29.3 2.8 260.0 
Total goodwill and other
   intangible assets
$843.3 $54.7 $6.2 782.4 $694.4 $29.3 $10.4 656.7 
Goodwill and other intangible assets attributed to non-controlling interests(28.1)(23.4)
Goodwill and other intangible assets included in White Mountains’s common
shareholders’ equity
$754.3 $631.3 
(1) During 2020, NSM’s goodwill and intangible assets includes $13.4 and $1.6 of the effect of foreign currency translation. During 2019, NSM’s goodwill and intangible assets includes $1.8 and $0.7 of the effect of foreign currency translation.
(2) The attribution of acquisition date fair value estimates between goodwill and other intangible assets for Kingsbridge was completed during 2020.The attribution of acquisition date fair value estimates between goodwill and other intangible assets for KBK was completed during 2019.
The following table presents a summary of the acquisition date fair values of goodwill and other intangible assets for acquisitions completed during 2020 and 2019:
$ in Millions
Acquisition of Subsidiary/ Asset
Goodwill and
Other Intangible Assets (1)
Acquisition Date
Embrace(2)
$67.6 April 1, 2019
Renewal Rights (3)
82.5 June 28, 2019
Kingsbridge131.7 April 7, 2020
Total NSM segment$281.8 
Kudu Transaction$9.8 April 4, 2019
Other Operations$38.1 Various
(1) Acquisition date fair values include the effect of adjustments during the measurement period and excludes the effect of foreign currency translation subsequent to the acquisition date.
(2) Excludes $3.4 of software classified within other assets.
(3) NSM’s purchase of the Renewal Rights from AIG was an asset acquisition.
Schedule of Goodwill and Intangible Assets Rollforward
The following table presents the change in goodwill and other intangible assets:
December 31,
20202019
MillionsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible AssetsGoodwillOther Intangible AssetsTotal Goodwill and Other Intangible Assets
Beginning balance$394.7 $260.0 $654.7 $379.9 $157.6 $537.5 
Acquisitions of businesses (1)
140.0  140.0 64.8 34.6 99.4 
Acquisition of collector car renewal rights   — 82.5 82.5 
Dispositions of businesses (2)
   (18.3)(23.5)(41.8)
Attribution of acquisition date fair value
   estimates between goodwill and other
   intangible assets (3)
(23.2)23.2  (26.8)26.8 — 
Impairments (4)
 (6.2)(6.2)(7.6)(2.8)(10.4)
Measurement period adjustments(5)
.6 6.6 7.2 .9 5.9 6.8 
Foreign currency translation13.4 1.6 15.0 1.8 .7 2.5 
Amortization (28.3)(28.3)— (21.8)(21.8)
Ending balance$525.5 $256.9 $782.4 $394.7 $260.0 $654.7 
(1) During 2020, amounts include acquisitions of Kingsbridge and Other Operations. During 2019, amounts include acquisitions related to Kudu, Other Operations and Embrace.
(2) Dispositions relate to the 2019 MediaAlpha Transaction. See Note 2 — “Significant Transactions”.
(3)     The determination of the relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of Kingsbridge and Other Operations were completed in 2020. The determination of the relative fair values of goodwill and other intangible assets recognized in connection with the acquisition of KBK was completed in 2019.
(4) In 2020, impairments relate to NSM’s UK vertical. In 2019, impairments of $7.6 and $0.4 of goodwill and other intangible assets relate to Other Operations and $2.4 of impairments to other intangible assets relate to NSM’s UK vertical.
(5)     Measurement period adjustments relate to updated information about acquisition date fair values of assets acquired and liabilities assumed. During 2020, adjustments primarily relate to contingent considerations of $4.1 in connection with the acquisition of Kingsbridge. During 2019, $5.9 in connection with the acquisition of KBK.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
White Mountains expects to recognize amortization expense in each of the next five years as the following table presents:
MillionsAmortization Expense
2021$36.3 
202235.2 
202334.1 
202428.6 
2025 and years after114.1 
Total (1)
$248.3 
(1) Excludes indefinite-lived intangible assets of $8.6.