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Consolidated Statements of Total Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
2 Months Ended 3 Months Ended 6 Months Ended 1 Months Ended 4 Months Ended
Jun. 30, 2013
Successor Ambac [Member]
Jun. 30, 2014
Successor Ambac [Member]
Jun. 30, 2014
Successor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Revenues:          
Net premiums earned $ 58,039 $ 65,013 $ 147,560 $ 29,744 $ 130,000
Net investment income:          
Securities available-for-sale and short-term 29,211 76,882 145,689 31,314 116,371
Other investments (3,015) 3,211 5,205 912 369
Total net investment income 26,196 80,093 150,894 32,226 116,740
Other-than-temporary impairment losses:          
Total other-than-temporary impairment losses (2,004) (9,051) (19,443) (467) (467)
Portion of loss recognized in other comprehensive income 2 297 297 0 0
Net other-than-temporary impairment losses recognized in earnings (2,002) (8,754) (19,146) (467) (467)
Net realized investment gains (losses) 18,472 3,067 19,356 7,245 53,305
Change in fair value of credit derivatives:          
Realized gains (losses) and other settlements 6,074 717 1,492 935 3,444
Unrealized (losses) gains 45,146 (1,936) 4,671 (74,106) (63,828)
Net change in fair value of credit derivatives 51,220 (1,219) 6,163 (73,171) (60,384)
Derivative products 83,713 (47,985) (101,826) (33,166) (33,735)
Other income 2,179 5,266 7,160 (1,135) 8,363
Income (loss) on variable interest entities 4,598 (38,148) (43,690) 388,240 426,566
Total revenues before expenses and reorganization items 242,415 57,333 166,471 349,516 640,388
Expenses:          
Losses and loss expenses (benefit) (26,117) 175,317 35,306 13,079 (38,056)
Insurance intangible amortization 24,952 36,256 67,970 0 0
Underwriting and operating expenses 16,217 24,033 49,819 10,692 44,566
Interest expense 21,144 31,953 64,281 7,860 31,025
Total expenses before reorganization items 36,196 267,559 217,376 31,631 37,535
Pre-tax (loss) income from continuing operations before reorganization items 206,219 (210,226) (50,905) 317,885 602,853
Reorganization items 424 186 209 (2,747,239) (2,745,180)
Pre-tax (loss) income from continuing operations 205,795 (210,412) (51,114) 3,065,124 3,348,033
(Benefit) provision for income taxes 513 (2,179) 1,070 98 755
Net income (loss) 205,282 (208,233) (52,184) 3,065,026 3,347,278
Less: net (loss) gain attributable to noncontrolling interest (399) (328) (221) (1,724) (1,771)
Net (loss) income attributable to common shareholders 205,681 (207,905) (51,963) 3,066,750 3,349,049
Other comprehensive (loss) income, after tax:          
Net income (loss) 205,282 (208,233) (52,184) 3,065,026 3,347,278
Unrealized gain (loss) on securities, net of deferred income taxes of $0 (90,983) 185,163 273,885 81,249 175,347
Gain (loss) on foreign currency translation, net of deferred income taxes of $0 (12,662) 17,144 21,428 (167) (428)
Changes to postretirement benefit, net of tax of $0 0 (204) (408) (623) 185
Total other comprehensive income, net of tax (103,645) 202,103 294,905 80,459 175,104
Total comprehensive income (loss) 101,637 (6,130) 242,721 3,145,485 3,522,382
Less: comprehensive (loss) gain attributable to the noncontrolling interest:          
Noncontrolling interest in subsidiaries’ earnings (399) (328) (221) (1,724) (1,771)
Currency translation adjustments (138) 192 238 270 229
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. $ 102,174 $ (5,994) $ 242,704 $ 3,146,939 $ 3,523,924
Net income (loss) per share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 4.57 $ (4.61) $ (1.15) $ 10.14 $ 11.07
Net income (loss) per diluted share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 4.42 $ (4.61) $ (1.15) $ 10.14 $ 11.07