XML 57 R68.htm IDEA: XBRL DOCUMENT v2.4.1.9
Subsequent Events - Schedule of Consolidated Pro Forma Balance Sheets (Detail) (USD $)
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Mar. 19, 2012
Dec. 31, 2011
Investments held in trust, at fair value:          
Fixed-maturity securities $ 52,578,000wmih_FixedMaturitySecuritiesHeldInTrustEstimatedFairValue $ 145,904,000wmih_FixedMaturitySecuritiesHeldInTrustEstimatedFairValue      
Cash equivalents held in trust 11,122,000wmih_CashEquivalentsHeldInTrust 33,093,000wmih_CashEquivalentsHeldInTrust      
Total investments held in trust 63,700,000wmih_InvestmentsHeldInTrust 178,997,000wmih_InvestmentsHeldInTrust      
Cash and cash equivalents 78,009,000us-gaap_CashAndCashEquivalentsAtCarryingValue 11,986,000us-gaap_CashAndCashEquivalentsAtCarryingValue      
Fixed-maturity securities, at fair value 8,063,000wmih_UnrestrictedFixedHeldInMaturitySecuritiesEstimatedFairValue 72,897,000wmih_UnrestrictedFixedHeldInMaturitySecuritiesEstimatedFairValue      
Restricted cash 2,447,000us-gaap_RestrictedCashAndCashEquivalents 115,000us-gaap_RestrictedCashAndCashEquivalents      
Accrued investment income 476,000us-gaap_AccruedInvestmentIncomeReceivable 1,110,000us-gaap_AccruedInvestmentIncomeReceivable      
Deferred offering costs 2,568,000us-gaap_DeferredOfferingCosts 1,071,000us-gaap_DeferredOfferingCosts      
Other assets 876,000us-gaap_OtherAssetsNoncurrent 1,462,000us-gaap_OtherAssetsNoncurrent      
Total assets 156,139,000us-gaap_Assets 267,638,000us-gaap_Assets      
Liabilities:          
Notes payable - principal 31,220,000wmih_NotesPayablePrincipalAmount 105,502,000wmih_NotesPayablePrincipalAmount      
Notes payable - interest 338,000wmih_NotesPayableInterestAmount 1,143,000wmih_NotesPayableInterestAmount      
Losses and loss adjustment reserves 18,947,000us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet 44,314,000us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet 82,524,000us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet   142,119,000us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
Losses payable 696,000wmih_LossPayable 2,517,000wmih_LossPayable      
Unearned premiums 1,094,000us-gaap_UnearnedPremiums 1,394,000us-gaap_UnearnedPremiums      
Accrued ceding commissions 44,000wmih_AccruedCedingCommission 102,000wmih_AccruedCedingCommission      
Loss contract fair market value reserve 12,549,000wmih_LossContractFairMarketValueReserve 46,319,000wmih_LossContractFairMarketValueReserve   63,100,000wmih_LossContractFairMarketValueReserve  
Other liabilities 3,021,000us-gaap_OtherLiabilities 1,218,000us-gaap_OtherLiabilities      
Total liabilities 67,909,000us-gaap_Liabilities 202,509,000us-gaap_Liabilities      
Commitments and contingencies            
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit            
Common stock, $0.00001 par value; 500,000,000 authorized; 202,343,245 and 201,842,351 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively 2,000us-gaap_CommonStockValue 2,000us-gaap_CommonStockValue      
Additional paid-in capital 106,628,000us-gaap_AdditionalPaidInCapital 77,142,000us-gaap_AdditionalPaidInCapital   76,598,000us-gaap_AdditionalPaidInCapital  
Accumulated (deficit) (18,400,000)us-gaap_RetainedEarningsAccumulatedDeficit (12,015,000)us-gaap_RetainedEarningsAccumulatedDeficit      
Total shareholders’ equity 88,230,000us-gaap_StockholdersEquity 65,129,000us-gaap_StockholdersEquity      
Total liabilities and shareholders’ equity 156,139,000us-gaap_LiabilitiesAndStockholdersEquity 267,638,000us-gaap_LiabilitiesAndStockholdersEquity      
Preferred Series B Adjustments [Member]          
Investments held in trust, at fair value:          
Restricted cash 598,500,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
[1]        
Deferred offering costs (2,568,000)us-gaap_DeferredOfferingCosts
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
[2]        
Total assets 595,932,000us-gaap_Assets
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
       
Liabilities:          
Derivative liability - embedded conversion feature 66,227,000us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
[3]        
Other liabilities 28,250,000us-gaap_OtherLiabilities
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
[4]        
Total liabilities 94,477,000us-gaap_Liabilities
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
       
Commitments and contingencies           
Redeemable and convertible Series B preferred stock, 600,000 shares issued and outstanding 501,455,000us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
[5]        
Shareholders’ equity:          
Total liabilities and shareholders’ equity 595,932,000us-gaap_LiabilitiesAndStockholdersEquity
/ us-gaap_StatementScenarioAxis
= wmih_PreferredSeriesBAdjustmentMember
       
Pro Forma          
Investments held in trust, at fair value:          
Fixed-maturity securities 52,578,000wmih_FixedMaturitySecuritiesHeldInTrustEstimatedFairValue
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Cash equivalents held in trust 11,122,000wmih_CashEquivalentsHeldInTrust
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Total investments held in trust 63,700,000wmih_InvestmentsHeldInTrust
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Cash and cash equivalents 78,009,000us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Fixed-maturity securities, at fair value 8,063,000wmih_UnrestrictedFixedHeldInMaturitySecuritiesEstimatedFairValue
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Restricted cash 600,947,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Accrued investment income 476,000us-gaap_AccruedInvestmentIncomeReceivable
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Other assets 876,000us-gaap_OtherAssetsNoncurrent
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Total assets 752,071,000us-gaap_Assets
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Liabilities:          
Notes payable - principal 31,220,000wmih_NotesPayablePrincipalAmount
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Notes payable - interest 338,000wmih_NotesPayableInterestAmount
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Losses and loss adjustment reserves 18,947,000us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Losses payable 696,000wmih_LossPayable
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Unearned premiums 1,094,000us-gaap_UnearnedPremiums
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Accrued ceding commissions 44,000wmih_AccruedCedingCommission
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Loss contract fair market value reserve 12,549,000wmih_LossContractFairMarketValueReserve
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Derivative liability - embedded conversion feature 66,227,000us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Other liabilities 31,271,000us-gaap_OtherLiabilities
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Total liabilities 162,386,000us-gaap_Liabilities
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Commitments and contingencies           
Redeemable and convertible Series B preferred stock, 600,000 shares issued and outstanding 501,455,000us-gaap_TemporaryEquityCarryingAmountAttributableToParent
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Shareholders’ equity:          
Common stock, $0.00001 par value; 500,000,000 authorized; 202,343,245 and 201,842,351 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively 2,000us-gaap_CommonStockValue
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Additional paid-in capital 106,628,000us-gaap_AdditionalPaidInCapital
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Accumulated (deficit) (18,400,000)us-gaap_RetainedEarningsAccumulatedDeficit
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Total shareholders’ equity 88,230,000us-gaap_StockholdersEquity
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Total liabilities and shareholders’ equity 752,071,000us-gaap_LiabilitiesAndStockholdersEquity
/ us-gaap_StatementScenarioAxis
= us-gaap_ProFormaMember
       
Series A [Member]          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
Series A [Member] | Preferred Series B Adjustments [Member]          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
Series A [Member] | Pro Forma          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
Series B [Member]          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
Series B [Member] | Preferred Series B Adjustments [Member]          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
Series B [Member] | Pro Forma          
Shareholders’ equity:          
Purchase price of convertible preferred stock maximum limit           
[1] This adjustment is necessary to give effect to the cash deposited into the Escrow account representing the proceeds of the Offering less offering fees payable on the Issue Date but before payment of other offering fees and expenses, some of which are dependent on future events.
[2] This adjustments is necessary to properly net the deferred offering costs recorded at December 31, 2014 as a reduction of the net mezzanine liability as of the Issue Date.
[3] This adjustment reflects the valuation of the embedded derivative created by the variable conversion feature of the Series B Offering.
[4] This adjustment reflects the current estimate of additional offering fees and expenses, some of which are dependent on future events.
[5] This adjustment reflects the net Series B preferred shares after deducting paid and contingent offering expenses and the value of the embedded derivative described above.