XML 50 R52.htm IDEA: XBRL DOCUMENT v2.4.0.6
Schedule II Financial Information of Registrant Parent Company Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information Statement Of Condition Of Parent Company [Table Text Block]
Radian Group Inc.
Schedule II—Financial Information of Registrant
Balance Sheets
Parent Company Only
 
 
December 31,
(In thousands, except share and per share amounts)
2012
 
2011
Assets
 
 
 
Investments
 
 
 
Trading securities—at fair value
$
99,171

 
$
387,239

Short-term investments—at fair value
136,075

 
177,116

Other invested assets
16,666

 
25,000

Cash
2,978

 
453

Restricted cash
360

 
1,060

Investment in subsidiaries, at equity in net assets
1,234,229

 
1,591,914

Debt issuance costs
8,582

 
8,414

Due from affiliates, net
17,690

 
2,451

Property and equipment, at cost (less accumulated depreciation of $48,786 and $46,998)
1,344

 
2,017

Other assets
33,524

 
35,474

Total assets
$
1,550,619

 
$
2,231,138

Liabilities and Stockholders’ Equity
 
 
 
Accounts payable and accrued expenses
$
54,869

 
$
123,665

Accrued interest payable
3,959

 
7,558

Long-term debt
663,571

 
818,584

Federal income taxes—current and deferred
91,895

 
99,040

Total liabilities
814,294

 
1,048,847

Common stockholders’ equity
 
 
 
Common stock: par value $.001 per share; 325,000,000 shares authorized; 151,131,173 and 150,666,446 shares issued at December 31, 2012 and 2011, respectively; 133,647,216 and 133,199,159 shares outstanding at December 31, 2012 and 2011, respectively
151

 
151

Treasury stock, at cost: 17,483,957 and 17,467,287 shares at December 31, 2012 and 2011, respectively
(892,094
)
 
(892,052
)
Additional paid-in capital
1,967,414

 
1,966,565

Retained (deficit) earnings
(355,241
)
 
96,227

Accumulated other comprehensive income
16,095

 
11,400

Total common stockholders’ equity
736,325

 
1,182,291

Total liabilities and stockholders’ equity
$
1,550,619

 
$
2,231,138
Condensed Financial Information Statement Of Income Of Parent Company [Table Text Block]
Radian Group Inc.
Schedule II—Financial Information of Registrant
Statements of Operations
Parent Company Only

 
Year Ended December 31,
 (In thousands)
2012
 
2011
 
2010
Revenues:
 
 
 
 
 
Net investment income
$
9,093

 
$
15,890

 
$
8,626

Net gains on investments
8,816

 
24,603

 
61,120

Net gains on other financial instruments
9,180

 
1,085

 
2,496

Other income
3

 
3

 
220

Total revenues
27,092

 
41,581

 
72,462

Expenses:
 
 
 
 
 
Other operating expenses
2,690

 
—

 
—

Interest expense
17,756

 
16,132

 
1,911

Total expenses
20,446

 
16,132

 
1,911

Income before income taxes
6,646

 
25,449

 
70,551

Benefit for income taxes
(40,187
)
 
(201,741
)
 
(209,235
)
Equity in net (loss) income of affiliates
(498,301
)
 
74,960

 
(2,085,653
)
Net (loss) income
$
(451,468
)
 
$
302,150

 
$
(1,805,867
)
Condensed Financial Information Statement of Cash Flows of Parent Company [Table Text Block]
Radian Group Inc.
Schedule II—Financial Information of Registrant
Statements of Cash Flows
Parent Company Only
 
Year Ended December 31,
 (In thousands)
2012
 
2011
 
2010
Cash flows from operating activities:
 
 
 
 
 
Net (loss) income
$
(451,468
)
 
$
302,150

 
$
(1,805,867
)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:

 

 
 
Net gains on other investments
(1,821
)
 
(24,603
)
 
(61,120
)
Gain on the repurchase of long-term debt
(16,175
)
 
—

 
(2,496
)
Equity in undistributed net loss (income) of subsidiaries and affiliates (1)
505,267

 
(495,954
)
 
2,049,175

(Decrease) increase in federal income taxes
(7,145
)
 
49,396

 
(274,778
)
Change in other assets
895

 
13,384

 
35,797

Change in accounts payable and accrued expenses
25,336

 
90,895

 
(20,711
)
Net cash provided by (used in) operating activities
54,889

 
(64,732
)
 
(80,000
)
Cash flows from investing activities:
 
 
 
 
 
Sales/redemptions of fixed-maturity investments available for sale
—

 
—

 
4,083

Sales/redemptions of trading securities
153,992

 
151,840

 
57,989

Purchases of trading securities
(3
)
 
(32,825
)
 
(455,724
)
Sales (purchases) of short-term investments, net
41,042

 
156,665

 
(230,392
)
Sales (purchases) of other invested assets, net
8,709

 
—

 
(25,000
)
Purchases of property and equipment, net
(1,124
)
 
(523
)
 
(1,367
)
Capital contributions to subsidiaries and affiliates (1)
(100,384
)
 
(50,587
)
 
(423,146
)
Capital distributions from subsidiaries and affiliates
—

 
—

 
268,530

Net cash provided by (used) in investing activities
102,232

 
224,570

 
(805,027
)
Cash flows from financing activities:
 
 
 
 
 
Dividends paid
(1,335
)
 
(1,330
)
 
(1,202
)
Issuance of long-term debt
—

 
—

 
391,310

Redemption of long-term debt
(153,261
)
 
(160,000
)
 
(29,348
)
Proceeds from issuance of common stock
—

 
—

 
525,887

Net cash (used in) provided by financing activities
(154,596
)
 
(161,330
)
 
886,647

Increase (decrease) in cash
2,525

 
(1,492
)
 
1,620

Cash, beginning of year
453

 
1,945

 
325

Cash, end of year
$
2,978

 
$
453

 
$
1,945

_______________________
(1)
See Note A.