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Note 20 - Quarterly Financial Data (Details) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2012
Quarterly Financial Data (Unaudited) [Member]
Sep. 30, 2012
Quarterly Financial Data (Unaudited) [Member]
Jun. 30, 2012
Quarterly Financial Data (Unaudited) [Member]
Mar. 31, 2012
Quarterly Financial Data (Unaudited) [Member]
Dec. 31, 2011
Quarterly Financial Data (Unaudited) [Member]
Sep. 30, 2011
Quarterly Financial Data (Unaudited) [Member]
Jun. 30, 2011
Quarterly Financial Data (Unaudited) [Member]
Mar. 31, 2011
Quarterly Financial Data (Unaudited) [Member]
Dec. 31, 2012
Quarterly Financial Data (Unaudited) [Member]
Dec. 31, 2011
Quarterly Financial Data (Unaudited) [Member]
Net premiums earned-insurance $ 738,982,000 $ 756,025,000 $ 825,733,000 $ 193,875,000 $ 190,963,000 $ 186,779,000 $ 167,365,000 $ 184,413,000 $ 179,655,000 $ 188,934,000 $ 203,023,000 $ 738,982,000 $ 756,025,000
Net investment income 114,337,000 163,520,000 178,760,000 23,112,000 25,635,000 30,877,000 34,713,000 38,694,000 38,763,000 43,823,000 42,240,000 114,337,000 163,520,000
(Loss) Gain on Investments 184,888,000 202,177,000 139,944,000 6,351,000 [1] 84,659,000 [1] 26,419,000 [1] 67,459,000 [1] 38,866,000 [1] 81,640,000 [1] 44,236,000 [1] 37,435,000 [1] 184,888,000 [1] 202,177,000 [1]
Net impairment losses recognized in earnings (3,000) (1,202,000) (90,000)                    
Change in fair value of derivative instruments (144,025,000) 628,395,000 (558,712,000) 2,912,000 [2] (41,056,000) [2] (33,124,000) [2] (72,757,000) [2] 69,769,000 [2] 126,008,000 [2] 188,726,000 [2] 243,892,000 [2] (144,025,000) [2] 628,395,000 [2]
Net (losses) gains on other financial instruments (82,269,000) 193,329,000 (211,681,000) (1,815,000) [3] (740,000) [3] (61,862,000) [3] (17,852,000) [3] 32,429,000 [3] 80,602,000 [3] 5,047,000 [3] 75,251,000 [3] (82,269,000) [3] 193,329,000 [3]
Gain on sale of affiliate 7,708,000 0 34,815,000                    
Provision for losses 959,171,000 1,296,521,000 1,739,244,000 305,797,000 [4] 176,352,000 [4] 210,868,000 [4] 266,154,000 [4] 355,984,000 [4] 249,598,000 [4] 263,566,000 [4] 427,373,000 [4] 959,171,000 [4] 1,296,521,000 [4]
Change in reserve for premium deficiency 41,000 (7,092,000) (14,621,000)         (665,000) (1,942,000) (3,102,000) (1,383,000)   (7,092,000)
Policy Acquisition Amortization Expense And Other Operating Expenses       65,994,000 63,356,000 50,998,000 78,200,000 51,193,000 56,689,000 60,341,000 60,350,000 258,548,000 228,573,000
Equity in net (loss) income of affiliates (13,000) 65,000 14,668,000                    
Net (loss) income (451,468,000) 302,150,000 (1,805,867,000) (177,302,000) [5] 14,325,000 [5] (119,259,000) [5] (169,232,000) [5] (121,539,000) [5] 183,568,000 [5] 137,115,000 [5] 103,006,000 [5] (451,468,000) [5] 302,150,000 [5]
Diluted net (loss) income per share $ (3.41) $ 2.26 $ (15.74) $ (1.34) [6],[7] $ 0.11 [6],[7] $ (0.90) [6],[7] $ (1.28) [6],[7] $ (0.92) [6],[7] $ 1.37 [6],[7] $ 1.03 [6],[7] $ 0.77 [6],[7] $ (3.41) [6],[7] $ 2.26 [6],[7]
Weighted-average number of common and common equivalent shares outstanding—diluted 132,533 133,863 114,697 132,525 [7] 134,033 [7] 132,346 [7] 132,465 [7] 133,463 [7] 133,513 [7] 133,614 [7] 133,703 [7] 132,533 [7] 133,863 [7]
Valuation Allowance, Deferred Tax Asset, Change in Amount $ 192,000,000                        
[1] The 2012 and 2011 periods reflect realized gains and losses on investments in connection with the continued reallocation of our investment portfolio and unrealized gains and losses on our trading securities.
[2] The change in fair value of derivative instruments for 2012 and 2011 reflects the volatility in the cumulative unrealized (loss) gain attributable to the market’s perception of our non-performance risk as a result of the changes in our CDS spread during both years. There was minimal spread tightening in the fourth quarter of 2012.
[3] The 2012 and 2011 periods primarily reflect fair value gains and losses on our VIE debt.
[4] The results for the fourth quarter of 2012 include the effects of an increase in our IBNR reserve estimate. The provision for losses in the fourth quarter of 2011 was primarily driven by reserves established on new default notices, which increased consistent with seasonal trends.
[5] Net income in the third quarter of 2012 reflects increased gains on investments and a decline in the provision for losses in our mortgage insurance segment. The net loss for the fourth quarter of 2011 was primarily due to an increase in both the mortgage insurance and financial guaranty provision for losses.
[6] Net (loss) income per share is computed independently for each period presented. Consequently, the sum of the quarters may not equal the total net (loss) income per share for the year.
[7] Diluted net (loss) income per share and average shares outstanding per the accounting standard regarding earnings per share.