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Equity-Method Eligible Investments (Tables)
 3 Months Ended
Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The following table presents the ownership interests and carrying values of White Mountains’s equity method eligible investments as of March 31, 2022 and December 31, 2021:
March 31, 2022December 31, 2021
MillionsOwnership InterestCarrying ValueOwnership InterestCarrying Value
Kudu Participation Contracts (1)
3.2 - 33.4%
$691.8 
3.2 - 32.0%
669.5 
Investment in MediaAlpha27.7 %280.4 28.0 %$261.6 
PassportCard/DavidShield53.8 %125.0 53.8 %120.0 
Elementum Holdings, L.P.29.7 %45.0 29.7 %45.0 
Other equity method eligible investments, at fair valueUnder 50.0%104.9 Under 50.0%109.3 
Other equity method eligible investments, at fair value50.0% and over33.9 50.0% and over17.8 
(1) Ownership interest generally references basic ownership interest with the exception of Kudu’s Participation Contracts, which are non-controlling equity interests in the form of revenue and earnings participation contracts.
The following tables present summarized financial information for MediaAlpha as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021:
MillionsMarch 31, 2022December 31, 2021
Balance sheet data:
Total assets$275.2 $289.8 
Total liabilities$332.9 $351.4 
Three Months Ended March 31,
Millions20222021
Income statement data:
Total revenues$142.6 $173.6 
Total expenses$152.4 $173.4 
Net income (loss)$(9.8)$.2