XML 32 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 2 - Segment Reporting Schedule of Segment Reporting Information by Segment (Details) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2013
Dec. 31, 2012
Segment Reporting Information [Line Items]                
Net premiums earned-insurance $ 227,156,000 $ 211,984,000 $ 646,935,000 $ 617,696,000        
Net premiums earned on derivatives 2,882,000 4,170,000 9,673,000 14,019,000        
Services revenue 42,243,000 0 42,243,000 0        
Direct cost of services 23,896,000 0 23,896,000 0        
Net investment income 26,178,000 26,732,000 76,144,000 81,220,000        
Other income 1,171,000 1,314,000 4,115,000 5,319,000        
Policyholder Benefits and Claims Incurred, Net and Including Change in Reserves for Premium Deficiency 42,526,000 154,849,000 167,527,000 427,821,000        
Estimated present value of net credit losses (recoveries) incurred (665,000) 3,273,000 10,432,000 (166,000)        
Policy acquisition costs 6,034,000 7,958,000 23,069,000 35,159,000        
Other operating expenses 56,262,000 70,974,000 181,722,000 212,055,000        
Interest expense 23,989,000 19,570,000 66,264,000 54,871,000        
Equity in net (loss) income of affiliates 0 0 (13,000) 1,000        
Adjusted pretax operating income (loss) 147,156,000 (12,424,000) 312,487,000 (11,485,000)        
Cash and investments 5,007,309,000 5,060,645,000 5,007,309,000 5,060,645,000        
Restricted cash 16,509,000 22,991,000 16,509,000 22,991,000   22,527,000    
Deferred policy acquisition costs 60,140,000 68,461,000 60,140,000 68,461,000   66,926,000    
Goodwill 194,026,000   194,026,000     2,100,000    
Other intangible assets, net 99,606,000   99,606,000          
Total assets 5,959,691,000 5,758,573,000 5,959,691,000 5,758,573,000   5,621,691,000    
Unearned premiums 796,742,000 751,587,000 796,742,000 751,587,000   768,871,000    
Reserve for losses and LAE 1,620,351,000 2,346,879,000 1,620,351,000 2,346,879,000   2,185,421,000    
VIE debt 91,232,000 104,218,000 91,232,000 104,218,000   94,645,000    
Derivative liabilities 185,258,000 344,870,000 185,258,000 344,870,000   307,185,000    
Mortgage Insurance Segment
               
Segment Reporting Information [Line Items]                
Net premiums written—insurance 245,775,000 250,799,000 680,675,000 719,244,000        
Increase in unearned premiums (27,948,000) (50,679,000) (60,440,000) (138,180,000)        
Net premiums earned-insurance 217,827,000 200,120,000 620,235,000 581,064,000        
Net premiums earned on derivatives 0 0 0 0        
Net investment income 15,904,000 14,868,000 45,196,000 45,236,000        
Other income 1,130,000 1,250,000 3,813,000 5,121,000        
Revenue Non GAAP Basis 234,861,000 216,238,000 669,244,000 631,421,000        
Policyholder Benefits and Claims Incurred, Net and Including Change in Reserves for Premium Deficiency 48,942,000 149,687,000 163,216,000 418,675,000        
Estimated present value of net credit losses (recoveries) incurred (190,000) (74,000) 129,000 (50,000)        
Policy acquisition costs 4,240,000 5,839,000 18,003,000 24,072,000        
Other operating expenses 41,368,000 59,590,000 141,333,000 176,665,000        
Interest expense 7,936,000 4,447,000 19,713,000 10,820,000        
Total Expenses Non-GAAP 102,296,000 219,489,000 342,394,000 630,182,000        
Adjusted pretax operating income (loss) 132,565,000 (3,251,000) 326,850,000 1,239,000        
New Insurance Written 11,210,000,000 13,720,000,000 27,340,000,000 38,003,000,000        
Cash and investments 3,017,737,000 2,767,160,000 3,017,737,000 2,767,160,000        
Restricted cash 11,574,000 22,890,000 11,574,000 22,890,000        
Deferred policy acquisition costs 27,595,000 29,158,000 27,595,000 29,158,000        
Goodwill 2,095,000   2,095,000          
Other intangible assets, net 154,000   154,000          
Total assets 3,447,406,000 3,238,224,000 3,447,406,000 3,238,224,000        
Unearned premiums 625,269,000 535,420,000 625,269,000 535,420,000        
Reserve for losses and LAE 1,588,131,000 2,314,785,000 1,588,131,000 2,314,785,000 1,714,681,000 2,164,353,000 2,690,861,000 3,083,608,000
VIE debt 3,196,000 11,109,000 3,196,000 11,109,000        
Derivative liabilities 0 0 0 0        
Financial Guaranty Segment
               
Segment Reporting Information [Line Items]                
Net premiums written—insurance (1,523,000) 43,000 (350,000) (9,988,000)        
Increase in unearned premiums 10,852,000 11,821,000 27,050,000 46,620,000        
Net premiums earned-insurance 9,329,000 11,864,000 26,700,000 36,632,000        
Net premiums earned on derivatives 2,882,000 4,170,000 9,673,000 14,019,000        
Net investment income 10,274,000 11,864,000 30,948,000 35,984,000        
Other income 41,000 64,000 302,000 198,000        
Revenue Non GAAP Basis 22,526,000 27,962,000 67,623,000 86,833,000        
Provision for losses (6,416,000) 5,162,000 4,311,000 9,146,000        
Estimated present value of net credit losses (recoveries) incurred (475,000) 3,347,000 10,303,000 (116,000)        
Policy acquisition costs 1,794,000 2,119,000 5,066,000 11,087,000        
Other operating expenses 6,663,000 11,384,000 25,426,000 35,390,000        
Interest expense 11,629,000 15,123,000 42,127,000 44,051,000        
Total Expenses Non-GAAP 13,195,000 37,135,000 87,233,000 99,558,000        
Equity in net (loss) income of affiliates 0 0 (13,000) 1,000        
Adjusted pretax operating income (loss) 9,331,000 (9,173,000) (19,623,000) (12,724,000)        
Cash and investments 1,978,972,000 2,293,485,000 1,978,972,000 2,293,485,000        
Restricted cash 73,000 101,000 73,000 101,000        
Deferred policy acquisition costs 32,545,000 39,303,000 32,545,000 39,303,000        
Goodwill 0   0          
Other intangible assets, net 0   0          
Total assets 2,175,773,000 2,520,349,000 2,175,773,000 2,520,349,000        
Unearned premiums 171,473,000 216,167,000 171,473,000 216,167,000        
Reserve for losses and LAE 32,220,000 32,094,000 32,220,000 32,094,000        
VIE debt 88,036,000 93,109,000 88,036,000 93,109,000        
Derivative liabilities 185,258,000 344,870,000 185,258,000 344,870,000        
Mortgage and Real Estate Services Segment [Member]
               
Segment Reporting Information [Line Items]                
Services revenue 42,243,000   42,243,000          
Direct cost of services 23,896,000   23,896,000          
Gross Profit 18,347,000   18,347,000          
Other operating expenses 8,663,000   8,663,000          
Interest expense 4,424,000   4,424,000          
Total Expenses Non-GAAP 13,087,000   13,087,000          
Adjusted pretax operating income (loss) 5,260,000 0 5,260,000 0        
Cash and investments 10,600,000   10,600,000          
Restricted cash 4,862,000   4,862,000          
Deferred policy acquisition costs 0   0          
Goodwill 191,931,000   191,931,000          
Other intangible assets, net 99,452,000   99,452,000          
Total assets 336,512,000   336,512,000          
Unearned premiums 0   0          
Reserve for losses and LAE 0   0          
VIE debt 0   0          
Derivative liabilities $ 0   $ 0