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Consolidated Statements of Total Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 5 Months Ended 9 Months Ended 4 Months Ended
Sep. 30, 2014
Successor Ambac [Member]
Sep. 30, 2013
Successor Ambac [Member]
Sep. 30, 2013
Successor Ambac [Member]
Sep. 30, 2014
Successor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Revenues:          
Net premiums earned $ 64,831 $ 70,949 $ 128,988 $ 212,391 $ 130,000
Net investment income:          
Securities available-for-sale and short-term 82,881 51,776 80,987 228,570 116,371
Other investments 700 350 (2,665) 5,905 369
Total net investment income 83,581 52,126 78,322 234,475 116,740
Other-than-temporary impairment losses:          
Total other-than-temporary impairment losses (6,997) (38,553) (40,557) (26,440) (467)
Portion of loss recognized in other comprehensive income 1,986 516 518 2,283 0
Net other-than-temporary impairment losses recognized in earnings (5,011) (38,037) (40,039) (24,157) (467)
Net realized investment gains (losses) 10,045 (10,310) 8,162 29,401 53,305
Change in fair value of credit derivatives:          
Realized gains (losses) and other settlements 596 1,580 7,654 2,088 3,444
Unrealized gains (losses) 6,820 29,614 74,760 11,491 (63,828)
Net change in fair value of credit derivatives 7,416 31,194 82,414 13,579 (60,384)
Derivative products (15,685) 12,372 96,085 (117,511) (33,735)
Other Income Loss 1,046 (1,751) 428 8,206 8,363
Income (loss) on variable interest entities 9,116 55,109 59,707 (34,574) 426,566
Total revenues before expenses and reorganization items 155,339 171,652 414,067 321,810 640,388
Losses and loss expenses (benefit)          
Losses and loss expenses (benefit) (28,698) (154,290) (180,407) 6,608 (38,056)
Insurance intangible amortization 41,908 37,473 62,425 109,878 0
Underwriting and operating expenses 25,513 25,047 41,264 75,332 44,566
Interest expense 31,841 31,817 52,961 96,122 31,025
Total expenses before reorganization items 70,564 (59,953) (23,757) 287,940 37,535
Pre-tax (loss) income from continuing operations before reorganization items 84,775 231,605 437,824 33,870 602,853
Reorganization items 2 4 428 211 (2,745,180)
Pre-tax (loss) income from continuing operations 84,773 231,601 437,396 33,659 3,348,033
Provision (benefit) for income taxes 2,344 594 1,107 3,414 755
Net (loss) income 82,429 231,007 436,289 30,245 3,347,278
Less: net (loss) gain attributable to noncontrolling interest (21) 32 (367) (242) (1,771)
Net (loss) income attributable to common shareholders 82,450 230,975 436,656 30,487 3,349,049
Net (loss) income          
Net (loss) income 82,429 231,007 436,289 30,245 3,347,278
Unrealized fain (loss) on securities, net of deferred income taxes of $0 (17,225) 53,877 (37,106) 256,660 175,347
Gain (loss) on foreign currency translation, net of deferred income taxes of $0 (38,429) 39,798 27,136 (17,001) (428)
Changes to postretirement benefit, net of tax of $0 (204) 0 0 (612) 185
Total other comprehensive (loss) income, net of tax (55,858) 93,675 (9,970) 239,047 175,104
Total comprehensive income (loss) 26,571 324,682 426,319 269,292 3,522,382
Net (loss) gain          
Noncontrolling interest in subsidiaries’ earnings (21) 32 (367) (242) (1,771)
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. (395) 414 276 (157) 229
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. $ 26,987 $ 324,236 $ 426,410 $ 269,691 $ 3,523,924
Net income (loss) per share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 1.83 $ 5.13 $ 9.70 $ 0.68 $ 11.07
Net income (loss) per diluted share attributable to Ambac Financial Group, Inc. common shareholders (in dollars per share) $ 1.77 $ 4.98 $ 9.40 $ 0.65 $ 11.07