Note 2 - Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The income from discontinued operations, net of tax, consisted of the following components for the periods indicated:

	Three Months Ended March 31,
(In thousands)	2015			2014
Net premiums earned	$	1,007		$	6,903
Net investment income	9,153			8,911
Net gains on investments and other financial instruments	13,668			22,182
Change in fair value of derivative instruments	2,625			50,086
Total revenues	26,453			88,082
Provision for losses	502			5,649
Policy acquisition costs	(191		)	1,597
Other operating expense	4,107			5,402
Total expenses	4,418			12,648
Equity in net loss of affiliates	(13		)	(13		)
Income from operations of businesses held for sale	22,022			75,421
Loss on classification as held for sale	(13,930		)	—
Income tax provision	7,562			18,642
Income from discontinued operations, net of tax	$	530		$	56,779

The assets and liabilities associated with the discontinued operations have been segregated in the condensed consolidated balance sheets. The following table summarizes the major components of Radian Asset Assurance’s assets and liabilities held for sale on the condensed consolidated balance sheets as of the dates indicated:

(In thousands)	March 31, 2015		December 31, 2014
Fixed-maturity investments	$	226,334	$	224,552
Equity securities	4,019		3,749
Trading securities	679,972		689,887
Short-term investments	449,391		435,413
Other invested assets	108,080		108,206
Other assets	288,077		274,637
Total assets held for sale	$	1,755,873	$	1,736,444
Unearned premiums	$	152,445	$	158,921
Reserve for losses and LAE	32,420		31,558
VIE debt	82,238		85,016
Derivative liabilities	187,462		183,370
Other liabilities	511,513		488,143
Total liabilities held for sale	$	966,078	$	947,008