Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of net lease expense

The following table summarizes net lease expense recognized in White Mountains’s consolidated statement of operations for the years ended December 31, 2022 and 2021:

	December 31,
Millions	2022		2021
Lease cost	$	8.0	$	6.7
Less: sublease income	.7		.4
Net lease cost	$	7.3	$	6.3

Schedule of contractual maturities of lease liabilities

The following table presents the contractual maturities of the lease liabilities associated with White Mountains’s operating lease agreements as of December 31, 2022:

Millions	December 31, 2022
2023	$	8.7
2024	7.6
2025	5.1
2026	2.8
2027	1.6
Thereafter	3.9
Total undiscounted lease payments	29.7
Less: present value adjustment	(2.6)
Operating lease liability	$	27.1

Schedule of lease related assets and liabilities

The following table presents lease related assets and liabilities by reportable segment as of December 31, 2022 and 2021:

	As of December 31, 2022
$ in Millions	HG/BAM		Ark		Kudu		Other Operations		Total		Weighted Average Incremental Borrowing Rate (1)
ROU lease asset	$	5.7	$	6.6	$	5.8	$	7.1	$	25.2	4.1%
Lease liability	$	6.2	$	6.6	$	6.5	$	7.8	$	27.1

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.

	As of December 31, 2021
$ in Millions	HG/BAM		Ark		Kudu		Other Operations		Total		Weighted Average Incremental Borrowing Rate (1)
ROU lease asset	$	7.6	$	7.0	$	6.4	$	7.1	28.1		4.0%
Lease liability	$	8.1	$	7.0	$	7.1	$	7.8	$	30.0

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.