WHITE MOUNTAINS INSURANCE GROUP, LTD WTM Income Statement

White mountains insurance group, ltd (WTM)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Earned insurance premiums
16,300	13,900	10,400	1,114,000	12,000	1,185,000	1,120,900	2,063,600	1,924,500	2,029,000	2,717,600	3,710,000
Net investment income
79,700	59,000	56,000	86,800	10,900	59,500	59,800	153,600	184,500	208,900	250,100	410,300
Net realized and unrealized investment gains
318,500	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
433,200	-108,300	133,300	10,300	260,500	78,500	133,900	118,200	74,100	77,600	361,700	-1,107,100
Commission revenues
249,100	389,200	167,000	-	-	-	-	-	-	-	-	-
Advertising and commission revenues
-	-	-	-	107,400	-	-	-	-	-	-	-
Other Income
47,600	15,300	7,100	149,600	49,200	88,100	47,000	100,300	-10,000	18,200	113,900	-67,800
Revenues
893,400	369,100	373,800	1,360,700	440,000	1,411,100	1,361,600	2,435,700	2,173,100	2,333,700	3,443,300	2,945,400
Expenses:
Loss and loss adjustment expenses
-	-	1,100	664,000	8,200	824,000	622,100	1,193,900	1,174,300	1,216,600	1,424,100	2,506,400
Deferred Policy Acquisition Costs, Amortization Expense
5,700	5,300	4,100	211,600	-	206,200	210,400	430,200	402,200	419,600	547,200	745,200
Cost of sales
400	400	400	209,500	400	179,600	205,200	321,800	268,100	295,900	406,600	466,600
Insurance acquisition expenses
-	-	-	-	6,300	-	-	-	-	-	-	-
General and administrative expenses
327,800	233,500	208,000	299,900	200,700	216,500	149,100	182,200	175,300	155,000	197,400	250,100
Broker commission expenses
64,800	28,400	-	-	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration earnout liabilities
2,100	2,700	-	-	-	-	-	-	-	-	-	-
Cost of sales
48,100	248,700	139,400	-	93,600	-	-	-	-	-	-	-
Amortization of Intangible Assets
21,800	18,800	10,700	-	8,400	-	-	-	-	-	-	-
Interest expense
17,600	9,500	2,300	16,100	1,600	14,200	16,200	44,800	55,200	57,300	70,800	82,100
Interest expense-dividends on preferred stock subject to mandatory redemption
-	-	-	-	-	-	-	-	-	-	-	11,800
Interest expense-accretion on preferred stock subject to mandatory redemption
-	-	-	-	-	-	-	-	-	-	-	21,600
Total expenses
488,300	547,300	366,000	1,401,100	310,800	1,440,500	1,203,000	2,172,900	2,075,100	2,144,400	2,646,100	4,083,800
Pre-Tax and Net Income [Abstract]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
405,100	-178,200	7,800	-40,400	129,200	-29,400	158,600	262,800	98,000	189,300	797,200	-1,138,400
Income Tax Expense (Benefit)
29,300	-4,000	-7,800	-45,400	12,700	-14,800	32,600	-15,700	-110,000	29,600	214,200	-498,700
Net (loss) income from continuing operations
375,800	-174,200	15,600	5,000	116,500	-14,600	126,000	278,500	208,000	159,700	583,000	-
Net gain from sale of discontinued operations, net of tax
800	-17,200	557,000	415,100	18,200	-1,600	46,600	-91,000	658,300	-	-	-
Net income from discontinued operations, net of tax
0	0	20,500	-300	116,900	260,600	99,900	-24,000	-36,700	-30,100	-27,800	-
Income before equity in earnings of unconsolidated affiliates
-	-	-	419,800	251,600	244,400	272,500	163,500	829,600	129,600	555,200	-639,700
Excess of fair value of acquired net assets over cost
-	-	-	-	-	-	-	-	-	-	-	4,200
Equity in earnings of unconsolidated affiliates
-	-	-	0	25,100	45,600	36,600	29,900	-20,200	9,900	24,300	5,800
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
376,600	-191,400	593,100	419,800	276,700	290,000	309,100	193,400	809,400	139,500	579,500	-629,700
Net loss attributable to non-controlling interests
-37,900	-50,200	-34,100	7,300	-18,500	-22,200	-12,500	-14,000	41,500	53,000	109,500	-74,400
Net Income (Loss) Available to Common Stockholders, Basic
414,500	-141,200	627,200	412,500	295,200	312,200	321,600	207,400	767,900	86,500	470,000	-555,300
Comprehensive income, net of tax:
Change in equity in net unrealized investment (losses) gains in Symetra common shares, net of tax
-	-	-	0	-	75,300	-98,100	57,700	-58,500	73,500	192,400	-193,000
Change in foreign currency translation, net of tax
-	-	-	300	-	-10,700	2,700	39,600	-15,200	49,800	73,000	-173,800
Change in foreign currency translation and other, net of tax
-	-	-	-	-	0	20,800	-2,900	-10,800	6,300	19,100	-25,000
Comprehensive income
-	-	-	558,100	-	207,300	247,000	301,800	683,400	216,100	754,500	-947,100
Other comprehensive income attributable to non-controlling interests
-	-	-	300	-	-3,300	5,200	-800	-2,800	1,700	3,700	-6,300
Comprehensive income attributable to White Mountainss common shareholders
-	-	-	557,800	-	210,600	241,800	302,600	686,200	214,400	750,800	-940,800
Continuing operations (in usd per share)
-	-	-	-0.47	-	8.70	28.22	47.41	18.56	13.63	56.25	-
Discontinued operations (in usd per share)
-	-	-	82.71	-	42.43	23.63	-16.91	78.88	-3.51	-3.14	-
Income (loss) before extraordinary item (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-54.68
Total consolidated operations (in usd per share)
-	-	-	82.24	-	51.13	51.85	30.50	97.44	10.12	53.11	-54.26
Continuing operations (in usd per share)
-	-	-	-0.47	-	8.70	28.22	47.41	18.56	13.63	56.24	-
Discontinued operations (in usd per share)
-	-	-	82.66	-	42.43	23.63	-16.91	78.88	-3.51	-3.14	-
Income (loss) before extraordinary item (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-54.68
Total consolidated operations (in usd per share)
-	-	-	82.19	-	51.13	51.85	30.50	97.44	10.12	53.10	-54.26
Dividends declared per White Mountainss common share
-	-	-	1.00	-	1.00	1.00	1.00	1.00	1.00	1.00	4.00
NSM Holding Co LLC
Premiums Earned, Net
0	-	-	-	-	-	-	-	-	-	-	-
Net investment income
0	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
0	-	-	-	-	-	-	-	-	-	-	-
Commission revenues
193,400	89,600	0	-	-	-	-	-	-	-	-	-
Other Income
39,700	12,000	0	-	-	-	-	-	-	-	-	-
Revenues
233,100	101,600	0	-	-	-	-	-	-	-	-	-
Deferred Policy Acquisition Costs, Amortization Expense
0	-	-	-	-	-	-	-	-	-	-	-
Other underwriting expenses
0	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
132,200	59,400	0	-	-	-	-	-	-	-	-	-
Broker commission expenses
64,800	28,400	0	-	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration earnout liabilities
2,100	2,700	0	-	-	-	-	-	-	-	-	-
Cost of sales
0	-	-	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
19,400	8,300	0	-	-	-	-	-	-	-	-	-
Interest expense
16,700	8,000	0	-	-	-	-	-	-	-	-	-
Total expenses
235,200	106,800	0	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
-2,100	-5,200	-	-	-	-	-	-	-	-	-	-
Kudu investments
Earned insurance premiums
0	-	-	-	-	-	-	-	-	-	-	-
Net investment income
14,700	0	0	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
-	0	0	-	-	-	-	-	-	-	-	-
Commission revenues
0	-	-	-	-	-	-	-	-	-	-	-
Other Income
200	0	0	-	-	-	-	-	-	-	-	-
Revenues
21,200	0	0	-	-	-	-	-	-	-	-	-
Deferred Policy Acquisition Costs, Amortization Expense
0	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
10,100	0	0	-	-	-	-	-	-	-	-	-
Cost of sales
0	-	-	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
200	0	0	-	-	-	-	-	-	-	-	-
Interest expense
100	0	0	-	-	-	-	-	-	-	-	-
Total expenses
10,400	0	0	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
10,800	-	-	-	-	-	-	-	-	-	-	-
Other Segment
Earned insurance premiums
0	0	1,000	-	-	-	-	-	-	-	-	-
Net investment income
43,400	42,300	43,700	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
-	-100,800	132,700	-	-	-	-	-	-	-	-	-
Commission revenues
6,900	4,100	3,800	-	-	-	-	-	-	-	-	-
Other Income
6,100	500	6,100	-	-	-	-	-	-	-	-	-
Revenues
523,700	-53,900	187,300	-	-	-	-	-	-	-	-	-
Deferred Policy Acquisition Costs, Amortization Expense
0	0	100	-	-	-	-	-	-	-	-	-
General and administrative expenses
122,500	94,400	148,900	-	-	-	-	-	-	-	-	-
Cost of sales
7,500	3,700	3,500	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
600	200	200	-	-	-	-	-	-	-	-	-
Interest expense
600	300	1,300	-	-	-	-	-	-	-	-	-
Total expenses
131,200	98,600	155,100	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
392,500	-152,500	32,200	-	-	-	-	-	-	-	-	-
HG Global-BAM
Net investment income
21,600	16,700	12,300	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
27,100	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment gains
-	-7,500	600	-	-	-	-	-	-	-	-	-
Commission revenues
0	-	-	-	-	-	-	-	-	-	-	-
Other Income
1,600	1,200	1,000	-	-	-	-	-	-	-	-	-
Revenues
66,600	24,300	23,300	-	-	-	-	-	-	-	-	-
Deferred Policy Acquisition Costs, Amortization Expense
5,700	5,300	4,000	-	-	-	-	-	-	-	-	-
Cost of sales
400	400	400	-	-	-	-	-	-	-	-	-
General and administrative expenses
50,500	48,000	42,900	-	-	-	-	-	-	-	-	-
Broker commission expense
0	-	-	-	-	-	-	-	-	-	-	-
Cost of sales
0	-	-	-	-	-	-	-	-	-	-	-
Amortization of other intangible assets
0	-	-	-	-	-	-	-	-	-	-	-
Interest expense
0	-	-	-	-	-	-	-	-	-	-	-
Total expenses
56,600	53,700	47,300	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
10,000	-29,400	-24,000	-	-	-	-	-	-	-	-	-
Kudu
Net realized and unrealized investment gains
6,300	-	-	-	-	-	-	-	-	-	-	-
Other underwriting expenses
0	-	-	-	-	-	-	-	-	-	-	-
Broker commission expense
0	-	-	-	-	-	-	-	-	-	-	-
Other
Net realized and unrealized investment gains
285,100	-	-	-	-	-	-	-	-	-	-	-
Realized gain and unrealized investment gain from the MediaAlpha Transaction
-	0	0	-	-	-	-	-	-	-	-	-
Loss and loss adjustment expenses
0	0	1,100	-	-	-	-	-	-	-	-	-
Other underwriting expenses
0	-	-	-	-	-	-	-	-	-	-	-
Broker commission expense
0	-	-	-	-	-	-	-	-	-	-	-
Sirius Group
Net realized and unrealized investment gains
-	-	-	3,700	-	-	-	-	-	-	-	-
Gain (loss) on sale of other discontinued operations, net of tax
-	-17,300	-	363,200	-	-	-	-	-	-	-	-
MediaAlpha
Commission revenues
48,800	295,500	163,200	-	-	-	-	-	-	-	-	-
Other Income
0	1,600	0	-	-	-	-	-	-	-	-	-
Revenues
407,900	297,100	163,200	-	-	-	-	-	-	-	-	-
General and administrative expenses
12,500	31,700	16,200	-	-	-	-	-	-	-	-	-
Cost of sales
40,600	245,000	135,900	-	-	-	-	-	-	-	-	-
Amortization of Intangible Assets
1,600	10,300	10,500	-	-	-	-	-	-	-	-	-
Interest expense
200	1,200	1,000	-	-	-	-	-	-	-	-	-
Total expenses
54,900	288,200	163,600	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
-6,100	8,900	-400	-	-	-	-	-	-	-	-	-
Tranzact
Gain (loss) on sale of other discontinued operations, net of tax
-	3,200	3,200	51,900	-	-	-	-	-	-	-	-
Esurance [Member]
Gain (loss) from sale of other discontinued operations, net of tax
-	-	-	0	-	-	-	-	-	-	-	-
Other Discontinued Operations [Member]
Gain (loss) from sale of other discontinued operations, net of tax
-	-	-	0	-	-	-	-	-	-	-	-
Discontinued Operations
Net Income (Loss) Available to Common Stockholders, Basic
414,500	-141,200	627,200	-	-	-	-	-	-	-	-	-
Sale of Sirius Group [Member]
OCI, Change in foreign currency transaction and translation adjustment, net of tax
-	-	-	32,000	-	-	-	-	-	-	-	-
Recognition of foreign currency translation and other from sale of Sirius Group, net of tax
-	-	-	113,300	-	-	-	-	-	-	-	-