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Held for Sale and Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The following summarizes the assets and liabilities associated with NSM Group classified as held for sale. As of December 31, 2021, the amounts presented exclude $16.1 million of insurance licenses, investments and cash classified as assets held for sale related to one of the Other Operating Businesses.
MillionsJune 30, 2022December 31, 2021
Assets held for sale
Short-term investments, at fair value $— $7.8 
Cash (restricted $108.9 and $89.2)
142.7 111.6 
Premiums and commissions receivable97.8 85.0 
Goodwill and other intangible assets698.1 725.4 
Other assets59.1 59.2 
Total assets held for sale$997.7 $989.0 
Liabilities held for sale
Debt$261.7 $272.1 
Premiums payable163.4 135.9 
Contingent consideration— 6.8 
Other liabilities79.3 80.5 
Total liabilities held for sale504.4 495.3 
Net assets held for sale$493.3 $493.7 
Net Income (Loss) from Discontinued Operations 
The following summarizes the results of operations, including related income taxes associated with the businesses classified as discontinued operations for the three and six months ended June 30, 2022 and 2021:
Three Months Ended June 30,Six Months Ended June 30,
Millions2022202120222021
Revenues 
Commission revenues$80.2 $68.0 $150.3 $127.6 
Other revenues22.7 16.3 41.1 31.5 
Total revenues - NSM Group102.9 84.3 191.4 159.1 
Expenses
General and administrative expenses57.1 47.7 111.1 93.5 
Broker commission expenses24.1 21.6 44.7 40.5 
Change in fair value of contingent consideration— — .1 .2 
Amortization of other intangible assets— 8.2 9.1 16.8 
Loss on assets held for sale— — — 28.7 
Interest expense8.4 5.9 10.5 11.8 
Total expenses - NSM Group89.6 83.4 175.5 191.5 
Pre-tax income (loss) from NSM Group discontinued operations13.3 .9 15.9 (32.4)
Income tax (expense) benefit(6.9).2 (5.8)3.3 
Net income (loss) income from NSM Group discontinued operations6.4 1.1 10.1 (29.1)
  Gain (loss) from sale of Sirius Group, net of tax— — — 18.7 
Total income (loss) from discontinued operations, net of tax6.4 1.1 10.1 (10.4)
Net (income) loss from discontinued operations attributable to
   non-controlling interests		(.5)— (.6)1.1 
Total income (loss) from discontinued operations attributable
   to White Mountains’s common shareholders		5.9 1.1 9.5 (9.3)
Other comprehensive income (loss) from NSM
   discontinued operations, net of tax		(4.0).5 (5.9)2.6 
Comprehensive income (loss) from discontinued operations1.9 1.6 3.6 (6.7)
Other comprehensive income (loss) from NSM discontinued
   operations attributable to non-controlling interests		.2 — .3 (.1)
Comprehensive income (loss) from discontinued operations
   attributable to White Mountains’s common shareholders		$2.1 $1.6 $3.9 $(6.8)
Net Change in Cash from Discontinued Operations
The following summarizes the net change in cash associated with the businesses classified as discontinued operations for the six months ended June 30, 2022 and 2021:
Six Months Ended June 30,
Millions20222021
Net cash provided from (used for) operations$36.7 $42.4 
Net cash provided from (used for) investing activities7.1 (2.6)
Net cash used from (used for) financing activities(16.9)(11.2)
Effect of exchange rate changes on cash4.2 (.4)
Net change in cash during the period31.1 28.2 
Cash balances at beginning of period (includes restricted cash of $89.2 and $78.4)
111.6 126.6 
Cash balances at end of period (includes restricted cash of $108.9 and $90.3)
142.7 154.8 
Supplemental cash flows information:
Interest paid$10.4 $11.1 
Net income tax payments$— $— 
The following table presents the Company’s computation of earnings per share for discontinued operations for the three and six months ended June 30, 2022 and 2021:
Three Months EndedSix Months Ended
 June 30,June 30,
2022202120222021
Basic and diluted earnings per share numerators (in millions):
Net income (loss) attributable to White Mountains’s
   common shareholders		$(169.2)$138.5 $(135.8)$63.2 
Less: net income (loss) from continuing operations$(216.6)$131.4 $(228.7)$32.4 
Less: net (income) loss from continuing operations attributable to
   non-controlling interests		$41.5 $6.0 $83.4 $40.1 
Total gain (loss) from discontinued operations attributable to White
   Mountains’s common shareholders (1)
$5.9 $1.1 $9.5 $(9.3)
Allocation of earnings to participating restricted common shares (2)
(.1)— (.1).1 
Basic and diluted earnings per share numerators (3)
$5.8 $1.1 $9.4 $(9.2)
Basic earnings per share denominators (in thousands): 
Total average common shares outstanding during the period2,979.0 3,107.8 2,992.5 3,104.0 
Average unvested restricted common shares (4)
(38.3)(37.8)(33.9)(35.1)
Basic earnings per share denominator2,940.7 3,070.0 2,958.6 3,068.9 
Diluted earnings per share denominator (in thousands): 
Total average common shares outstanding during the period2,979.0 3,107.8 2,992.5 3,104.0 
Average unvested restricted common shares (4)
(38.3)(37.8)(33.9)(35.1)
Diluted earnings per share denominator 2,940.7 3,070.0 2,958.6 3,068.9 
Basic and diluted earnings (losses) per share (in dollars) -
   discontinued operations:		$1.98 $.35 $3.17 $(3.00)
(1) Includes net gain (loss) from sale of Sirius Group, net of tax, net income (loss) from NSM Group discontinued operations, net of tax and net (income) loss from discontinued operations attributable to non-controlling interests.
(2) Restricted shares issued by White Mountains receive dividends and are therefore considered participating securities.
(3) Net earnings attributable to White Mountains’s common shareholders, net of restricted share amounts, is equal to undistributed earnings for the three and six months ended June 30, 2022 and 2021.
(4) Restricted shares outstanding vest upon a stated date. See Note 12 — “Employee Share-Based Incentive Compensation Plans.”