Held for Sale and Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Earnings Per Share for Discontinued Operations

for the three months ended March 31, 2022 and 2021:

	Three Months Ended
	March 31,
	2022		2021
Basic and diluted earnings per share numerators (in millions):
Net income (loss) attributable to White Mountains’s common shareholders	$	33.4	$	(75.3)
Less: total income (loss) from continuing operations, net of tax	33.4		(94.0)
Net gain from discontinued operations attributable to White Mountains’s common shareholders	$	—	$	18.7
Allocation of earnings to participating restricted common shares (1)	—		(.2)
Basic and diluted earnings per share numerators (2)	$	—	$	18.5
Basic earnings per share denominators (in thousands):
Total average common shares outstanding during the period	3,006.2		3,100.2
Average unvested restricted common shares (3)	(29.6)		(32.4)
Basic earnings per share denominator	2,976.6		3,067.8
Diluted earnings per share denominator (in thousands):
Total average common shares outstanding during the period	3,006.2		3,100.2
Average unvested restricted common shares (3)	(29.6)		(32.4)
Diluted earnings per share denominator	2,976.6		3,067.8
Basic and diluted earnings (losses) per share (in dollars) - discontinued operations:	$	—	$	6.03

(1) Restricted shares issued by White Mountains receive dividends and are therefore considered participating securities.

(2) Net earnings attributable to White Mountains’s common shareholders, net of restricted share amounts, is equal to undistributed earnings for the three months ended March 31, 2022 and 2021.

(3) Restricted shares outstanding vest upon a stated date. See Note 12 — “Employee Share-Based Incentive Compensation Plans”.