Employee Share-Based Incentive Compensation Plans (Tables) - White Mountains

9 Months Ended

Sep. 30, 2018

Share-based compensation arrangement by share-based payment award

Summary of performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan

The following table presents the performance share activity for the three and nine months ended September 30, 2018 and 2017 for performance shares granted under the WTM Incentive Plan:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2018				2017					2018					2017
Millions, except share amounts	Target Performance Shares Outstanding	Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense			Target Performance Shares Outstanding		Accrued Expense
Beginning of period	40,616	$	27.2		50,575		$	31.2		50,515		$	45.8		80,353		$	42.4
Shares paid ⁽¹⁾	—	—			—		—			(23,186	)	(28.4		)	(30,838	)	(21.6		)
New grants	—	—			—		—			14,105		—			17,510		—
Forfeitures and cancellations⁽²⁾	—	(.1		)	(256	)	(.4		)	(818	)	.1			(16,706	)	(9.4		)
Expense recognized	—	7.8			—		7.0			—		17.4			—		26.4
End of period⁽³⁾	40,616	$	34.9		50,319		$	37.8		40,616		$	34.9		50,319		$	37.8

⁽¹⁾WTM performance share payments in 2018 for the 2015-2017 performance cycle, which were paid in March 2018, ranged from 145% to 147% of target. WTM performance share payments in 2017 for the 2014-2016 performance cycle, which were paid in March 2017, ranged from 34% to 76% of target.

⁽²⁾Amounts include changes in assumed forfeitures, as required under GAAP.

⁽³⁾Outstanding performance share awards as of September 30, 2017 excludes 2,195 performance share awards granted to employees of Sirius Group.

Share-based Compensation, Performance Shares Award Outstanding Activity

The following table presents performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan at September 30, 2018 for each performance cycle:



Millions, except share amounts	Target Performance Shares Outstanding		Accrued Expense
Performance cycle:
2016 – 2018	13,715		$	18.9
2017 – 2019	14,070		13.3
2018 – 2020	13,450		3.2
Sub-total	41,235		35.4
Assumed forfeitures	(619	)	(.5		)
September 30, 2018	40,616		$	34.9

Summary of restricted shares activity

The following table presents the unrecognized compensation cost associated with the outstanding restricted share awards for the three and nine months ended September 30, 2018 and 2017:



	Three Months Ended September 30,									Nine Months Ended September 30,
	2018				2017					2018					2017
Millions, except share amounts	Restricted Shares	Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value			Restricted Shares		Unamortized Issue Date Fair Value
Non-vested,
Beginning of period	41,510	$	19.0		53,815		$	23.5		53,755		$	14.3		70,620		$	19.7
Issued	—	—			—		—			14,105		11.4			17,785		16.7
Vested	—	—			(260	)	—			(25,381	)	—			(28,846	)	—
Forfeited	—	—			—		—			(969	)	(.2		)	(6,004	)	(3.5		)
Expense recognized	—	(3.2		)	—		(3.8		)	—		(9.7		)	—		(13.2		)
End of period⁽¹⁾	41,510	$	15.8		53,555		$	19.7		41,510		$	15.8		53,555		$	19.7

⁽¹⁾Restricted share awards outstanding as of September 30, 2017 includes 2,195 restricted shares issued to employees of Sirius Group, which was accounted for as discontinued operations.