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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 3 Months Ended 4 Months Ended 9 Months Ended
Sep. 30, 2013
Successor Ambac [Member]
Sep. 30, 2013
Successor Ambac [Member]
Sep. 30, 2012
Predecessor Ambac [Member]
Apr. 30, 2013
Predecessor Ambac [Member]
Sep. 30, 2012
Predecessor Ambac [Member]
Revenues:          
Net Premiums Earned $ 70,949 $ 128,988 $ 113,074 $ 130,000 $ 311,066
Net investment income:          
Securities available-for-sale and short-term 51,776 80,987 84,078 116,371 290,031
Other investments 350 (2,665)   369  
Total net investment income 52,126 78,322 84,078 116,740 290,031
Other-than-temporary impairment losses:          
Total other-than-temporary impairment losses (38,553) (40,557) (2,501) (467) (14,304)
Portion of loss recognized in other comprehensive income 516 518 2,147   8,551
Net other-than-temporary impairment losses recognized in earnings (38,037) (40,039) (354) (467) (5,753)
Net realized investment (losses) gains (10,310) 8,162 3,162 53,305 70,621
Change in fair value of credit derivatives:          
Realized gains and other settlements 1,580 7,654 2,944 3,444 9,271
Unrealized gains (losses) 29,614 74,760 24,496 (63,828) 3,532
Net change in fair value of credit derivatives 31,194 82,414 27,440 (60,384) 12,803
Derivative products 12,372 96,085 (36,007) (33,735) (113,141)
Net realized losses on extinguishment of debt         (177,745)
Other income (loss) (1,751) 428 (368) 8,363 100,562
Income on variable interest entities 55,109 59,707 6,137 426,566 26,893
Total revenues before expenses and reorganization items 171,652 414,067 197,162 640,388 515,337
Expenses:          
Losses and loss expenses (154,290) (180,407) (18,745) (38,056) 720,346
Insurance intangible amortization 37,473 62,425      
Underwriting and operating expenses 25,047 41,264 33,347 44,566 103,448
Interest expense 31,817 52,961 23,268 31,025 88,962
Total (benefit) expenses before reorganization items (59,953) (23,757) 37,870 37,535 912,756
Pre-tax income (loss) from continuing operations before reorganization items 231,605 437,824 159,292 602,853 (397,419)
Reorganization items 4 428 1,252 (2,745,180) 4,480
Pre-tax income (loss) from continuing operations 231,601 437,396 158,040 3,348,033 (401,899)
Provision for income taxes 594 1,107 667 755 756
Net income (loss) 231,007 436,289 157,373 3,347,278 (402,655)
Less: net income (loss) attributable to the noncontrolling interest 32 (367) (171) (1,771) (2,401)
Net income (loss) attributable to common shareholders 230,975 436,656 157,544 3,349,049 (400,254)
Other comprehensive income (loss), after tax:          
Net income 231,007 436,289 157,373 3,347,278 (402,655)
Unrealized (loss) gain on securities, net of deferred income taxes of $0 53,877 (37,106) 108,807 175,347 68,892
Gain (loss) on foreign currency translation, net of deferred income taxes of $0 39,798 27,136 1,686 (428) (425)
Amortization of postretirement benefit, net of tax of $0       185 (3,792)
Total other comprehensive (loss) income, net of tax 93,675 (9,970) 110,493 175,104 64,675
Total comprehensive income (loss) 324,682 426,319 267,866 3,522,382 (337,980)
Less: comprehensive income (loss) attributable to the noncontrolling interest:          
Net income (loss) 32 (367) (171) (1,771) (2,401)
Currency translation adjustments 414 276 117 229 (35)
Total comprehensive income (loss) attributable to Ambac Financial Group, Inc. $ 324,236 $ 426,410 $ 267,920 $ 3,523,924 $ (335,544)
Net income (loss) per share attributable to Ambac Financial Group, Inc. common shareholders $ 5.13 $ 9.70 $ 0.52 $ 11.07 $ (1.32)
Net income (loss) per diluted share attributable to Ambac Financial Group, Inc. common shareholders $ 4.98 $ 9.40 $ 0.52 $ 11.07 $ (1.32)