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Consolidated Statements of Total Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
2 Months Ended 1 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended
Jun. 30, 2013
Successor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Jun. 30, 2012
Predecessor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Jun. 30, 2012
Predecessor Ambac [Member]
Revenues:          
Net premiums earned $ 58,039 $ 29,744 $ 103,042 $ 130,000 $ 197,992
Net investment income:          
Securities available-for-sale and short-term 29,581 31,499 93,836 117,111 205,953
Other investments (3,015) 912   369  
Total net investment income 26,566 32,411 93,836 117,480 205,953
Other-than-temporary impairment losses:          
Total other-than-temporary impairment losses (2,004) (467) (7,492) (467) (10,431)
Portion of loss recognized in other comprehensive income 2   5,164   5,032
Net other-than-temporary impairment losses recognized in earnings (2,002) (467) (2,328) (467) (5,399)
Net realized investment gains 18,472 7,245 67,067 53,305 67,459
Change in fair value of credit derivatives:          
Realized gains and other settlements 6,074 935 3,073 3,444 6,327
Unrealized gains (losses) 45,146 (74,106) (10,488) (63,828) (20,964)
Net change in fair value of credit derivatives 51,220 (73,171) (7,415) (60,384) (14,637)
Derivative products 83,713 (33,166) (124,091) (33,735) (77,134)
Net realized losses on extinguishment of debt     (177,745)   (177,745)
Other income 2,179 (1,135) 36,137 8,363 100,930
Income on variable interest entities 4,598 388,240 5,536 426,566 20,756
Total revenues before expenses and reorganization items 242,785 349,701 (5,961) 641,128 318,175
Expenses:          
Losses and loss expenses (26,117) 13,079 741,411 (38,056) 739,091
Insurance intangible amortization 24,952        
Underwriting and operating expenses 16,587 10,877 33,567 45,306 70,101
Interest expense 21,144 7,860 31,855 31,025 65,694
Total expenses before reorganization items 36,566 31,816 806,833 38,275 874,886
Pre-tax income (loss) from continuing operations before reorganization items 206,219 317,885 (812,794) 602,853 (556,711)
Reorganization items 424 (2,747,239) 767 (2,745,180) 3,228
Pre-tax income (loss) from continuing operations 205,795 3,065,124 (813,561) 3,348,033 (559,939)
Provision (benefit) for income taxes 513 98 (211) 755 89
Net income (loss) 205,282 3,065,026 (813,350) 3,347,278 (560,028)
Less: net loss attributable to the noncontrolling interest (399) (1,724) (2,232) (1,771) (2,230)
Net income (loss) attributable to common shareholders 205,681 3,066,750 (811,118) 3,349,049 (557,798)
Other comprehensive income (loss), after tax:          
Net income (loss) 205,282 3,065,026 (813,350) 3,347,278 (560,028)
Unrealized (loss) gain on securities, net of deferred income taxes of $0 (90,983) 81,249 (23,063) 175,347 (39,915)
Loss on foreign currency translation, net of deferred income taxes of $0 (12,662) (167) (5,324) (428) (2,111)
Amortization of postretirement benefit, net of tax of $0    (623)   185 (3,792)
Total other comprehensive (loss)income, net of tax (103,645) 80,459 (28,387) 175,104 (45,818)
Total comprehensive income (loss) 101,637 3,145,485 (841,737) 3,522,382 (605,846)
Less: comprehensive income (loss) attributable to the noncontrolling interest:          
Net loss (399) (1,724) (2,232) (1,771) (2,230)
Currency translation adjustments (138) 270 (183) 229 (152)
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. $ 102,174 $ 3,146,939 $ (839,322) $ 3,523,924 $ (603,464)
Net income (loss) per share attributable to Ambac Financial Group, Inc. common shareholders $ 4.57 $ 10.14 $ (2.68) $ 11.07 $ (1.84)
Net income (loss) per diluted share attributable to Ambac Financial Group, Inc. common shareholders $ 4.42 $ 10.14 $ (2.68) $ 11.07 $ (1.84)