Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of debt outstanding

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

	December 31,		Effective	December 31,		Effective
$ in Millions	2022		Rate (1)	2021		Rate (1)
HG Global Senior Notes	$	150.0	8.9%	$	—
Unamortized discount and issuance cost	(3.5)			—
HG Global Senior Notes, carrying value	146.5			—
Ark 2007 Subordinated Notes, carrying value	30.0			30.0
Ark 2021 Notes Tranche 1	41.3			44.2
Ark 2021 Notes Tranche 2	47.0			47.0
Ark 2021 Notes Tranche 3	70.0			70.0
Unamortized issuance cost	(4.6)			(5.3)
Ark 2021 Subordinated Notes, carrying value	153.7			155.9
Total Ark Subordinated Notes, carrying value	183.7		7.6%	185.9		6.9%
Kudu Credit Facility	215.2		6.1%	225.4		4.3%
Unamortized issuance cost	(6.9)			(7.2)
Kudu Credit Facility, carrying value	208.3			218.2
Other Operations debt	37.4		6.6%	17.1		7.5%
Unamortized issuance cost	(.7)			(.3)
Other Operations debt, carrying value	36.7			16.8
Total debt	$	575.2		$	420.9

(1) Effective rate includes the effect of the amortization of debt issuance costs and, where applicable, the original issue discount.

The following table presents the change in debt under the Kudu Bank Facility and Kudu Credit Facility for the years ended December 31, 2022, 2021 and 2020:

	Year Ended December 31,
Millions	2022		2021		2020
Kudu Bank Facility
Beginning balance	$	—	$	89.2	$	57.0
Term loans
Borrowings	—		3.0		32.2
Repayments	—		(92.2)		—
Ending balance	$	—	$	—	$	89.2
Kudu Credit Facility
Beginning balance	$	225.4	$	—	$	—
Term loans
Borrowings	35.0		232.0		—
Repayments	(45.2)		(6.6)		—
Ending balance	$	215.2	$	225.4	$	—

Schedule of contractual repayments of debt

The following table presents a schedule of contractual repayments of White Mountains’s debt as of December 31, 2022:

Millions	December 31, 2022
Due in one year or less	$	5.4
Due in two to three years	12.6
Due in four to five years	30.7
Due after five years	542.2
Total	$	590.9