Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Computation of earnings per share

The following table presents the Company’s computation of earnings per share from continuing operations for the three months ended March 31, 2024 and 2023.

	Three Months Ended March 31,
	2024		2023
Basic and diluted earnings per share numerators (in millions):
Net income (loss) attributable to White Mountains’s common    shareholders	$	236.4	$	179.5
Allocation of (earnings) losses to participating restricted    common shares (1)	(2.7)		(2.2)
Basic and diluted earnings (losses) per share numerators	$	233.7	$	177.3
Basic earnings per share denominators (in thousands):
Total average common shares outstanding during the period	2,559.7		2,569.9
Average unvested restricted common shares (2)	(28.6)		(31.1)
Basic earnings (losses) per share denominator	2,531.1		2,538.8
Diluted earnings per share denominator (in thousands):
Total average common shares outstanding during the period	2,559.7		2,569.9
Average unvested restricted common shares (2)	(28.6)		(31.1)
Diluted earnings (losses) per share denominator	2,531.1		2,538.8
Basic and diluted earnings per share (in dollars):
Distributed earnings - dividends declared and paid	$	1.00	$	1.00
Undistributed earnings (losses)	91.33		68.83
Basic and diluted earnings (losses) per share	$	92.33	$	69.83

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

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

Schedule of undistributed earnings

The following table presents the undistributed net earnings (losses) for the three months ended March 31, 2024 and 2023.

	Three Months Ended March 31,
Millions	2024		2023
Undistributed net earnings:
Net income (loss) attributable to White Mountains’s common    shareholders, net of restricted common share amounts	$	233.7	$	177.3
Dividends declared, net of restricted common share amounts (1)	(2.5)		(2.5)
Total undistributed net earnings (losses), net of restricted common share amounts	$	231.2	$	174.8

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