Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Reconciliation of Common Shares Used for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the common shares used for basic net income per share to the diluted shares used for diluted net income per share:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
Basic weighted average shares outstanding	45,404,315	45,229,570	45,355,671	45,206,429
Effect of potential dilutive shares (1):
Warrants	—	293,311	—	—
Restricted stock units	—	156,023	—	105,794
Performance stock units	—	113,179	—	60,481
Diluted weighted average shares outstanding	45,404,315	45,792,083	45,355,671	45,372,704
Anti-dilutive shares excluded from the above reconciliation:
Stock options	126,667	143,334	126,667	143,334
Warrants	4,053,670	—	4,053,670	—
Restricted stock units	68,654	23,334	68,654	23,334
Performance stock units (2)	327,109	—	327,109	—

(1) For the three and nine months ended September 30, 2017, Ambac had a net loss and accordingly excluded all potentially dilutive securities from the determination of diluted loss per share as their impact was anti-dilutive.

(2) Performance stock units are reflected herein at their target issuance amounts. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.