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  "documentTitle": "Fairfax Financial Holdings Ltd. (FFH)",
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  "presentationDate": "2024-02-08 00:00:00",
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  "notes": "The slide uses a quote from a financial disclosure to highlight the accounting treatment of the transaction.",
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      "kind": "callout",
      "text": "The company has the option to purchase OMERS' interest in Brit at certain dates commencing in October 2023.",
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      "text": "We believe that in substance this is a financing transaction.",
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      "text": "We believe that in substance this is a financing transaction. While the value of the option premium isn't separately broken out we believe the fair value of the call option is in substance cash that ultimately will be repaid to OMERS.",
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      "text": "Fairfax had performed an almost identical transaction to Odyssey in August of 2021. Farifax issued stock equivalent to 13.9% of Brit to a subsidiary of OMERS for $375 million. This allowed Fairfax to book a gain to book value of $115.4 million.",
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      "text": "book value gain: $115.4 million",
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      "text": "On August 27, 2021 Brit issued shares representing a 13.9% equity interest to OMERS for cash consideration of $375.0 which was subsequently paid by Brit as a dividend to Fairfax. The company recorded an aggregate equity gain of $115.4.",
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      "text": "Rinse and Repeat: Fairfax Took a $115.4 Million Gain to Book Value in August 2021 with Brit",
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