XML 82 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Earned insurance and reinsurance premiums $ 493.6 $ 495.4
Net investment income 24.3 28.5
Net realized and unrealized investment gains 63.8 75.2
Other revenue (3.4) 28.3
Total revenues 578.3 627.4
Expenses:    
Loss and loss adjustment expenses 229.3 244.3
Insurance and reinsurance acquisition expenses 95.1 98.2
Other underwriting expenses 81.4 79.1
General and administrative expenses 50.3 43.8
Interest expense 10.1 10.2
Total expenses 466.2 475.6
Pre-tax income from continuing operations 112.1 151.8
Income tax expense (30.3) (41.6)
Net income from continuing operations 81.8 110.2
Net (loss) income from discontinued operations, net of tax (0.5) 0.5
Income before equity in earnings of unconsolidated affiliates 81.3 110.7
Equity in earnings of unconsolidated affiliates, net of tax 13.8 9.2
Net income 95.1 119.9
Net loss attributable to non-controlling interests 0.5 0.5
Net income attributable to White Mountains’s common shareholders 95.6 120.4
Other comprehensive income, net of tax:    
Change in equity in net unrealized gains (losses) from investments in Symetra common shares, net of tax 36.5 (8.0)
Change in foreign currency translation, pension liability and other (7.8) (3.7)
Comprehensive income 124.3 108.7
Comprehensive income attributable to non-controlling interests 0 0
Comprehensive income attributable to White Mountains’s common shareholders $ 124.3 $ 108.7
Basic income (loss) per share    
Continuing operations $ 15.56 $ 19.10
Discontinued operations $ (0.08) $ 0.07
Total consolidated operations $ 15.48 $ 19.17
Diluted income (loss) per share    
Continuing operations $ 15.56 $ 19.10
Discontinued operations $ (0.08) $ 0.07
Total consolidated operations $ 15.48 $ 19.17
Dividends declared per White Mountains’s common share $ 1.00 $ 1.00