XML 93 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues      
Net earned premiums $ 920,055 $ 1,186,705 $ 930,429
Net investment income 391,017 354,703 259,222
Net realized investment gains (losses):      
Other-than-temporary impairment losses (83,792) (44,672) (74,022)
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income (39,150) (17,292) (28,176)
Other net realized investment gains (losses) 26,650 25,386 13,184
Net realized investment gains (losses) (17,992) (1,994) (32,662)
Net change in fair value of credit derivatives:      
Realized gains and other settlements 5,959 153,495 163,558
Net unrealized gains (losses) 553,779 (155,106) (337,810)
Net change in fair value of credit derivatives 559,738 (1,611) (174,252)
Fair value gain (loss) on committed capital securities 35,130 9,195 (122,940)
Net change in fair value of financial guaranty variable interest entities (131,984) (273,652) (1,156)
Other income 63,349 40,107 58,518
Total Revenues 1,819,313 1,313,453 917,159
Expenses      
Loss and loss adjustment expenses 461,890 412,161 393,800
Amortization of deferred acquisition costs 30,849 34,057 53,899
Assured Guaranty Municipal Holdings Inc. acquisition-related expenses   6,772 92,239
Interest expense 99,112 99,621 62,783
Goodwill and settlement of pre-existing relationship     23,341
Other operating expenses 193,000 211,536 174,165
Total expenses 784,851 764,147 800,227
Income (loss) before income taxes 1,034,462 549,306 116,932
Provision (benefit) for income taxes      
Current (126,904) (25,151) 217,253
Deferred 385,746 80,750 (185,143)
Total provision (benefit) for income taxes 258,842 55,599 32,110
Net income (loss) 775,620 493,707 84,822
Less: Noncontrolling interest of variable interest entities     (1,156)
Net income (loss) attributable to Assured Guaranty Ltd. $ 775,620 $ 493,707 $ 85,978
Earnings per share:      
Basic (in dollars per share) $ 4.23 $ 2.68 $ 0.68
Diluted (in dollars per share) $ 4.18 $ 2.61 $ 0.66
Dividends per share (in dollars per share) $ 0.18 $ 0.18 $ 0.18