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Comprehensive Income
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Comprehensive Income
COMPREHENSIVE INCOME
The following tables detail the changes in the balances of each component of accumulated other comprehensive income for the affected periods:
 
Unrealized Gains (Losses)
on Available-
for-Sale Securities (1)
 
Amortization of
Postretirement
Benefit (1)
 
Gain (Loss) on
Foreign Currency
Translation (1)
 
Total
Successor Ambac
Period from April 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from April 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from April 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from April 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
Beginning Balance
$
46,812

 
$
—

 
$
10,643

 
$
—

 
$
46,962

 
$
—

 
$
104,417

 
$
—

Other comprehensive income before reclassifications
179,479

 
(72,511
)
 
—

 
—

 
16,952

 
(12,524
)
 
196,431

 
(85,035
)
Amounts reclassified from accumulated other comprehensive income
5,684

 
(18,472
)
 
(204
)
 
—

 
—

 
—

 
5,480

 
(18,472
)
Elimination of Predecessor Ambac Shareholder Equity Accounts
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net current period other comprehensive income
185,163

 
(90,983
)
 
(204
)
 
—

 
16,952

 
(12,524
)
 
201,911

 
(103,507
)
Balance at June 30
$
231,975

 
$
(90,983
)
 
$
10,439

 
$
—

 
$
63,914

 
$
(12,524
)
 
$
306,328

 
$
(103,507
)

 
Unrealized Gains (Losses)
on Available-for-Sale Securities (1)
 
 
 
Gain (Loss) on
Foreign Currency Translation (1)
 
 
 
 
Changes to Postretirement Benefit (1)
 
 
Total
Predecessor Ambac
Period April 1 through April 30, 2013
 
Period April 1 through April 30, 2013
 
Period April 1 through April 30, 2013
 
Period April 1 through April 30, 2013
Beginning Balance
$
745,370

 
$
(5,052
)
 
$
(20,247
)
 
$
720,071

Other comprehensive income before reclassifications
88,516

 
—

 
(437
)
 
88,079

Amounts reclassified from accumulated other comprehensive income
(7,267
)
 
(623
)
 
—

 
(7,890
)
Elimination of Predecessor Ambac Shareholder Equity Accounts
(826,619
)
 
5,675

 
20,684

 
(800,260
)
Net current period other comprehensive income
(745,370
)
 
5,052

 
20,247

 
(720,071
)
Balance at April 30, 2013
$
—

 
$
—

 
$
—

 
$
—

 
 
Unrealized Gains (Losses)
on Available-
for-Sale Securities (1)
 
Amortization of
Postretirement

Benefit (1)
 
Gain (Loss) on
Foreign Currency

Translation (1)
 
Total
Successor Ambac
Period from January 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from January 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from January 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
 
Period from January 1 through June 30, 2014
 
Period from May 1 through June 30, 2013
Beginning Balance
$
(41,910
)
 
$
—

 
$
10,847

 
$
—

 
$
42,724

 
$
—

 
$
11,661

 
$
—

Other comprehensive income before reclassifications
274,101

 
(72,511
)
 


 
—

 
21,190

 
(12,524
)
 
295,291

 
(85,035
)
Amounts reclassified from accumulated other comprehensive income
(216
)
 
(18,472
)
 
(408
)
 
—

 
—

 
—

 
(624
)
 
(18,472
)
Elimination of Predecessor Ambac Shareholder Equity Accounts
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Net current period other comprehensive income
273,885

 
(90,983
)
 
(408
)
 
—

 
21,190

 
(12,524
)
 
294,667

 
(103,507
)
Balance at June 30, 2013
$
231,975

 
$
(90,983
)
 
$
10,439

 
$
—

 
$
63,914

 
$
(12,524
)
 
$
306,328

 
$
(103,507
)



 
Unrealized Gains (Losses)
on Available-for-Sale Securities (1)
 
Changes to Postretirement Benefit (1)
 
Gain (Loss) on
Foreign Currency Translation (1)
 
 
 
 
 
 
Total
Predecessor Ambac
Period January 1 through April 30, 2013
 
Period January 1 through April 30, 2013
 
Period January 1 through April 30, 2013
 
Period January 1 through April 30, 2013
Beginning Balance
$
651,272

 
$
(5,860
)
 
$
(20,027
)
 
$
625,385

Other comprehensive income before reclassifications
188,696

 
—

 
(657
)
 
188,039

Amounts reclassified from accumulated other comprehensive income
(13,349
)
 
185

 
—

 
(13,164
)
Elimination of Predecessor Ambac Shareholder Equity Accounts
(826,619
)
 
5,675

 
20,684

 
(800,260
)
Net current period other comprehensive income
(651,272
)
 
5,860

 
20,027

 
(625,385
)
Balance at April 30, 2013
$
—

 
$
—

 
$
—

 
$
—


 (1) All amounts are net of tax and noncontrolling interest. Amounts in parentheses indicate debits.
The following table details the significant amounts reclassified from each component of accumulated other comprehensive income for the affected periods:
 
 
Amount Reclassified from Accumulated
Other Comprehensive Income (1)
 
 
Details about Accumulated Other Comprehensive
Income Components
 
Successor Ambac –
 
 
Predecessor Ambac –
 
Affected Line Item in the
Consolidated
Statement of Total
Comprehensive Income
 
Period from April 1 through June 30, 2014
Period from May 1 through June 30, 2013
 
 
Period from April 1 through April 30, 2013
 
Unrealized Gains (Losses) on Available-for-Sale Securities
 
 
 
 
 
 
 
 
 
 
$
5,684

$
(18,472
)
 
 
$
(7,267
)
 
Net realized investment gains
 
 
—

—

 
 
—

 
Tax (expense) benefit
 
 
$
5,684

$
(18,472
)
 
 
$
(7,267
)
 
Net of tax and noncontrolling interest 
Amortization of Postretirement Benefit
 
 
 
 
 
 
 
 
Prior service cost
 
$
(166
)
$
—

 
 
$
(92
)
 
Underwriting and operating expenses (2)
Actuarial gains (losses)
 
(38
)
—

 
 
173

 
Underwriting and operating expenses (2)
 
 
(204
)
—

 
 
81

 
Total before tax
 
 
—

—

 
 
(704
)
 
Tax (expense) benefit
 
 
$
(204
)
$
—

 
 
$
(623
)
 
Net of tax and noncontrolling interest 
Total reclassifications for the period
 
$
5,480

$
(18,472
)
 
 
$
(7,890
)
 
Net of tax and noncontrolling interest 
 
 
 
Amount Reclassified from Accumulated
Other Comprehensive Income (1)
 
 
 
 
Successor Ambac –
 
 
Predecessor Ambac –
 
 
Details about Accumulated Other Comprehensive
Income Components
 
Period from January 1 through June 30, 2014
Period from May 1 through June 30, 2013
 
 
Period from January 1 through April 30, 2013
 
Affected Line Item in the
Consolidated
Statement of Total
Comprehensive Income
Unrealized Gains (Losses) on Available-for-Sale Securities
 
 
 
 
 
 
 
 
 
 
$
(216
)
$
(18,472
)
 
 
$
(13,349
)
 
Net realized investment gains
 
 
—

—

 
 
—

 
Tax (expense) benefit
 
 
$
(216
)
$
(18,472
)
 
 
$
(13,349
)
 
Net of tax and noncontrolling interest 
Amortization of Postretirement Benefit
 
 
 
 
 
 
 
 
Prior service cost
 
$
(332
)
$
—

 
 
$
1,616

 
Underwriting and operating expenses (2)
Actuarial gains (losses)
 
(76
)
—

 
 
(727
)
 
Underwriting and operating expenses (2)
 
 
(408
)
—

 
 
889

 
Total before tax
 
 
—

—

 
 
(704
)
 
Tax (expense) benefit
 
 
$
(408
)
$
—

 
 
$
185

 
Net of tax and noncontrolling interest 
Total reclassifications for the period
 
$
(624
)
$
(18,472
)
 
 
$
(13,164
)
 
Net of tax and noncontrolling interest 

(1)
Amounts in parentheses indicate debits to the Consolidated Statement of Comprehensive Income.
(2)
These accumulated other comprehensive income components are included in the computation of net periodic benefit cost.