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Consolidated Statements of Total Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Successor Ambac [Member]
Mar. 31, 2013
Predecessor Ambac [Member]
Revenues:    
Net premiums earned $ 82,547 $ 100,256
Net investment income:    
Securities available-for-sale and short-term 68,807 85,057
Other investments 1,994 (543)
Total net investment income 70,801 84,514
Other-than-temporary impairment losses:    
Total other-than-temporary impairment losses (10,392) 0
Portion of loss recognized in other comprehensive income 0 0
Net other-than-temporary impairment losses recognized in earnings (10,392) 0
Net realized investment gains (losses) 16,289 46,060
Change in fair value of credit derivatives:    
Realized gains (losses) and other settlements 775 2,509
Unrealized gains (losses) 6,607 10,278
Net change in fair value of credit derivatives 7,382 12,787
Derivative products (53,841) (569)
Other income 1,894 9,498
(Loss) income on variable interest entities (5,542) 38,326
Total revenues before expenses and reorganization items 109,138 290,872
Expenses:    
Losses and loss expenses (benefit) (140,011) (51,135)
Insurance intangible amortization 31,714 0
Underwriting and operating expenses 25,786 33,874
Interest expense 32,328 23,165
Total (benefit) expenses before reorganization items (50,183) 5,904
Pre-tax income (loss) from continuing operations before reorganization items 159,321 284,968
Reorganization items 23 2,059
Pre-tax income (loss) from continuing operations 159,298 282,909
Provision for income taxes 3,249 657
Net income (loss) 156,049 282,252
Less: net gain (loss) attributable to noncontrolling interest 107 (47)
Net income (loss) attributable to common shareholders 155,942 282,299
Other comprehensive income (loss), after tax:    
Net income (loss) 156,049 282,252
Unrealized gain (loss) on securities, net of deferred income taxes of $0 88,722 94,098
Gain (loss) on foreign currency translation, net of deferred income taxes of $0 4,284 (261)
Changes to postretirement benefit, net of tax of $0 (204) 808
Total other comprehensive income, net of tax 92,802 94,645
Total comprehensive income (loss) 248,851 376,897
Less: comprehensive gain (loss) attributable to the noncontrolling interest:    
Noncontrolling interest in subsidiaries’ earnings 107 (47)
Currency translation adjustments 46 (41)
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. $ 248,698 $ 376,985
Net income (loss) per share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 3.46 $ 0.93
Net income (loss) per diluted share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 3.31 $ 0.93