Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of debt outstanding

The following table presents White Mountains’s debt outstanding as of June 30, 2022 and December 31, 2021:

$ in Millions	June 30, 2022		Effective   Rate	(1)	December 31, 2021		Effective   Rate	(1)
HG Global Senior Notes	$	150.0	7.6%		$	—	N/A
Unamortized discount and issuance cost	(3.7)				—
HG Global Senior Notes, carrying value	146.3				—
Ark 2007 Subordinated Notes, carrying value	30.0				30.0
Ark 2021 Notes Tranche 1	41.5				44.2
Ark 2021 Notes Tranche 2	47.0				47.0
Ark 2021 Notes Tranche 3	70.0				70.0
Unamortized issuance cost	(5.0)				(5.3)
Ark 2021 Subordinated Notes, carrying value	153.5				155.9
Total Ark Subordinated Notes, carrying value	183.5		6.8%		185.9		6.9%
Kudu Credit Facility	260.4		5.1%		225.4		4.3%
Unamortized issuance cost	(7.1)				(7.2)
Kudu Credit Facility, carrying value	253.3				218.2
Other Operations debt	35.7		7.4%		17.1		7.5%
Unamortized issuance cost	(.7)				(.3)
Other Operations debt, carrying value	35.0				16.8
Total debt	$	618.1			$	420.9

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

The following table presents the change in debt under the Kudu Bank Facility and Kudu Credit Facility for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,				Six Months Ended June 30,
Millions	2022		2021		2022		2021
Kudu Bank Facility
Beginning balance	$	—	$	—	$	—	$	89.2
Term loans
Borrowings	—		—		—		3.0
Repayments	—		—		—		(92.2)
Ending balance	$	—	$	—	$	—	$	—
Kudu Credit Facility
Beginning balance	$	225.4	$	102.0	$	225.4	$	—
Term loans
Borrowings	35.0		—		35.0		102.0
Repayments	—		—		—		—
Ending balance	$	260.4	$	102.0	$	260.4	$	102.0