Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of net lease expense

The following table summarizes net lease expense recognized in White Mountains’s consolidated statement of operations for the years ended December 31, 2021 and 2020:

Millions Lease Cost	December 31, 2021		December 31, 2020
Lease cost	$	9.9	$	7.7
Less: sublease income	.4		.4
Net lease cost	$	9.5	$	7.3

Schedule of contractual maturities of lease liabilities

The following table presents the contractual maturities of the lease liabilities associated with White Mountains’s operating lease agreements as of December 31, 2021:

Millions	December 31, 2021
2022	$	10.9
2023	9.9
2024	8.5
2025	6.8
2026	4.3
Thereafter	11.9
Total undiscounted lease payments	52.3
Less: present value adjustment	(7.1)
Operating lease liability	$	45.2

Schedule of lease related assets and liabilities

The following table presents lease related assets and liabilities by reportable segment as of December 31, 2021 and 2020:

	As of December 31, 2021
$ in Millions	HG/BAM		Ark		NSM		Kudu		Other Operations		Total		Weighted Average Incremental Borrowing Rate (1)
ROU lease asset	$	7.6	$	7.0	$	14.0	$	6.5	$	7.1	$	42.2	5%
Lease liability	$	8.1	$	7.0	$	15.2	$	7.1	$	7.8	$	45.2

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.

	December 31, 2020
$ in Millions	HG/BAM		NSM		Kudu		Other Operations		Total		Weighted Average Incremental Borrowing Rate (1)
ROU lease asset	$	10.1	$	17.1	$	2.0	$	8.4	$	37.6	4.6%
Lease liability	$	10.1	$	17.1	$	2.0	$	9.1	$	38.3

(1) The present value of the remaining lease payments was determined by discounting the lease payments using the incremental borrowing rate.