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Earnings (Loss) Per Share (Tables)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Computation of earnings per share
The following table outlines the Company’s computation of earnings (loss) per share from continuing operations for the three and nine months ended September 30, 2012 and 2011 (see Note 14 for earnings per share amounts for discontinued operations):
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
Sept 30,
 
Sept 30,
 
 
2012
 
2011
 
2012
 
2011
Basic and diluted earnings (loss) per share numerators (in millions):
 
 

 
 

 
 

 
 

Net income (loss) from continuing operations attributable to
     White Mountains’ common shareholders
 
$
125.9

 
$
14.3

 
$
254.6

 
$
(6.3
)
Allocation of (income) loss for unvested restricted common shares
 
(1.8
)
 
(.1
)
 
(3.3
)
 
.1

Dividends declared on participating restricted common shares (1)
 
—

 
—

 
(.1
)
 
(.1
)
Total allocation to restricted common shares
 
(1.8
)
 
(.1
)
 
(3.4
)
 
—

Net income (loss) attributable to White Mountains’ common shareholders, net of
      restricted common share amounts
 
$
124.1

 
$
14.2

 
$
251.2

 
$
(6.3
)
Undistributed net earnings (loss) (in millions):
 
 
 
 
 
 
 
 
Net income (loss) attributable to White Mountains’ common shareholders, net of
      restricted common share amounts
 
$
124.1

 
$
14.2

 
$
251.2

 
$
(6.3
)
Dividends declared net of participating restricted common share amounts (1)
 
—

 
—

 
(6.5
)
 
(7.9
)
Total undistributed net earnings (loss), net of restricted common share
      amounts
 
$
124.1

 
$
14.2

 
$
244.7

 
$
(14.2
)
Basic earnings (loss) per share denominators (in thousands):
 
 
 
 
 
 
 
 
Total average common shares outstanding during the period
 
6,590.4

 
7,919.3

 
6,885.9

 
7,970.0

Average unvested restricted shares (2)
 
(96.5
)
 
(73.5
)
 
(89.5
)
 
(68.0
)
Basic earnings (loss) per share denominator
 
6,493.9

 
7,845.8

 
6,796.4

 
7,902.0

Diluted earnings (loss) per share denominator (in thousands):
 
 
 
 
 
 
 
 
Total average common shares outstanding during the period
 
6,590.4

 
7,919.3

 
6,885.9

 
7,970.0

Average unvested restricted common shares (2)
 
(96.5
)
 
(73.5
)
 
(89.5
)
 
(68.0
)
Average outstanding dilutive options to acquire common shares (3)
 
—

 
—

 
—

 
—

Diluted earnings (loss) per share denominator
 
6,493.9

 
7,845.8

 
6,796.4

 
7,902.0

Basic earnings (loss) per share (in dollars):
 
 
 
 

 
 

 
 

Net income (loss) attributable to White Mountains’ common shareholders
 
$
19.11

 
$
1.81

 
$
36.96

 
$
(.80
)
Dividends declared
 
—

 
—

 
(1.00
)
 
(1.00
)
Undistributed earnings (loss)
 
$
19.11

 
$
1.81

 
$
35.96

 
$
(1.80
)
Diluted earnings (loss) per share (in dollars)
 
 
 
 
 
 
 
 
Net income (loss) attributable to White Mountains’ common shareholders
 
$
19.11

 
$
1.81

 
$
36.96

 
$
(.80
)
Dividends declared
 
—

 
—

 
(1.00
)
 
(1.00
)
Undistributed earnings (loss)
 
$
19.11

 
$
1.81

 
$
35.96

 
$
(1.80
)

(1) Restricted shares issued by White Mountains receive dividends, and therefore, are considered participating securities.
(2) Restricted shares outstanding vest either in equal annual installments or upon a stated date (see Note 12).
(3) The diluted earnings (loss) per share denominator for the three and nine months ended September 30, 2012 and 2011 do not include common shares issuable upon exercise of the Non-Qualified Options as they are anti-dilutive to the calculation.