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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Summary of Financial Information by Reportable Segment
The following table is a summary of financial information by reportable segment for the affected periods:
Year Ended December 31, 2016
 
Financial
Guarantee
 
Financial
Services
 
Corporate
and Other
 
Inter-segment
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)
 
$
543,955

 
$
(49,434
)
 
$
6,964

 
$
—

 
$
501,485

Equity in net income of investees accounted for by equity method
 
—

 
—

 
4,664

 
—

 
4,664

Inter-segment
 
(19,552
)
 
19,794

 
873

 
(1,115
)
 
—

Total revenues
 
524,403

 
(29,640
)
 
12,501

 
(1,115
)
 
506,149

Pre-tax income (loss):
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)(2)(3)
 
159,978

 
(52,013
)
 
(7,603
)
 
—

 
100,362

Equity in net income of investees accounted for by equity method
 
—

 
—

 
4,664

 
—

 
4,664

Inter-segment
 
(23,106
)
 
19,290

 
3,816

 
—

 
—

Pre-tax income (loss)
 
136,872

 
(32,723
)
 
877

 
—

 
105,026

Total assets as of December 31, 2016
 
21,987,068

 
313,710

 
353,482

 
(18,558
)
 
22,635,702

Net investment income
 
300,102

 
778

 
12,487

 
—

 
313,367

Insurance intangible amortization
 
174,608

 
—

 
—

 
—

 
174,608

Interest expense
 
$
123,720

 
$
624

 
$
—

 
$
—

 
$
124,344

Year Ended December 31, 2015
 
Financial
Guarantee
 
Financial
Services
 
Corporate
and Other
 
Inter-segment
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)
 
$
679,662

 
$
(44,003
)
 
$
4,663

 
$
—

 
$
640,322

Equity in net income of investees accounted for by equity method
 
—

 
—

 
4,336

 
—

 
4,336

Inter-segment
 
349

 
(849
)
 
645

 
(145
)
 
—

Total revenues
 
680,011

 
(44,852
)
 
9,644

 
(145
)
 
644,658

Pre-tax income (loss):
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)(2)(3)
 
560,332

 
(46,869
)
 
(7,741
)
 
—

 
505,722

Equity in net income of investees accounted for by equity method
 
—

 
—

 
4,336

 
—

 
4,336

Inter-segment
 
(2,744
)
 
(1,383
)
 
4,127

 
—

 
—

Pre-tax income (loss)
 
557,588

 
(48,252
)
 
722

 
—

 
510,058

Total assets as of December 31, 2015
 
23,108,387

 
348,130

 
268,388

 
3,165

 
23,728,070

Net investment income
 
256,636

 
548

 
9,105

 
—

 
266,289

Insurance intangible amortization
 
169,557

 
—

 
—

 
—

 
169,557

Interest expense
 
115,630

 
907

 
—

 
—

 
116,537

Goodwill impairment
 
$
514,511

 
$
—

 
$
—

 
$
—

 
$
514,511

Year Ended December 31, 2014
 
Financial
Guarantee
 
Financial
Services
 
Corporate
and Other
 
Inter-segment
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
Unaffiliated customers (1)
 
$
506,559

 
$
(179,691
)
 
$
407

 
$
—

 
$
327,275

Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,395

 
—

 
1,395

Inter-segment
 
1,243

 
(1,197
)
 
23,299

 
(23,345
)
 
—

Total revenues
 
507,802

 
(180,888
)
 
25,101

 
(23,345
)
 
328,670

Pre-tax income (loss):
 
 
 
 
 
 
Unaffiliated customers (1) (2) (3)
 
684,750

 
(182,941
)
 
(9,951
)
 
—

 
491,858

Equity in net income of investees accounted for by equity method
 
—

 
—

 
1,395

 
—

 
1,395

Inter-segment
 
(25,443
)
 
(1,545
)
 
26,988

 
—

 
—

Pre-tax income (loss)
 
659,307

 
(184,486
)
 
18,432

 
—

 
493,253

Total assets as of December 31, 2014
 
24,448,346

 
412,510

 
284,278

 
14,730

 
25,159,864

Net investment income
 
298,020

 
1,123

 
1,803

 
—

 
300,946

Insurance intangible amortization
 
151,830

 
—

 
—

 
—

 
151,830

Interest expense
 
125,892

 
1,584

 
—

 
—

 
127,476

Reorganization items (4)
 
$
—

 
$
—

 
$
211

 
$
—

 
$
211

(1)
Included in both revenues from unaffiliated customers and in pre-tax income (loss) from continuing operations from unaffiliated customers is net investment income.
(2)
Included in pre-tax income (loss) from continuing operations from unaffiliated customers is interest expense.
(3)
Included in pre-tax income (loss) from continuing operations from unaffiliated customers is amortization of intangible asset arising from financial guarantee contracts that were set to fair value upon adoption of Fresh Start.
(4)
Refer to Note 1. Background and Business Description, Chapter 11 Reorganization of Ambac for a further discussion of Ambac's Reorganization.
Schedule of Gross Premiums Written, Net Premiums Earned and Net Change in Fair Value of Credit Derivatives
The following table summarizes gross premiums written, net premiums earned and the net change in fair value of credit derivatives included in the Financial Guarantee segment by location of risk for the affected periods:
 
 
2016
 
2015
 
2014
Year Ended December 31,
 
Gross
Premiums
Written
 
Net
Premiums
Earned
 
Net
Change
in Fair
Value
of Credit
Derivatives
 
Gross
Premiums
Written
 
Net
Premiums
Earned
 
Net
Change
in Fair
Value
of Credit
Derivatives
 
Gross
Premiums
Written
 
Net
Premiums
Earned
 
Net
Change
in Fair
Value
of Credit
Derivatives
United States
 
$
(35,686
)
 
$
168,646

 
$
1,828

 
$
(13,028
)
 
$
229,658

 
$
39,633

 
$
(46,279
)
 
$
197,154

 
$
8,669

United Kingdom
 
10,892

 
24,470

 
—

 
3,652

 
68,799

 
—

 
(221,516
)
 
31,672

 
—

Other international
 
(29,043
)
 
4,171

 
18,278

 
(28,196
)
 
14,138

 
2,068

 
(20,515
)
 
17,534

 
15,237

Total
 
$
(53,837
)
 
$
197,287

 
$
20,106

 
$
(37,572
)
 
$
312,595

 
$
41,701

 
$
(288,310
)
 
$
246,360

 
$
23,906