Note 2 - Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 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 June 30,					Six Months Ended June 30,
(In thousands)	2015			2014		2015			2014
Net premiums earned	$	—		$	10,468	$	1,007		$	17,371
Net investment income	—			9,074		9,153			17,985
Net gains on investments and other financial instruments	7,818			19,978		21,486			42,159
Change in fair value of derivative instruments	—			57,477		2,625			107,563
Other income	—			78		—			79
Total revenues	7,818			97,075		34,271			185,157
Provision for losses	—			5,078		502			10,727
Policy acquisition costs	—			1,675		(191		)	3,272
Other operating expense	—			4,800		4,107			10,202
Total expenses	—			11,553		4,418			24,201
Equity in net loss of affiliates	—			—		(13		)	(13		)
Income from operations of businesses held for sale	7,818			85,522		29,840			160,943
Loss on sale	(350		)	—		(14,280		)	—
Income tax provision	2,613			14,226		10,175			32,868
Income from discontinued operations, net of tax	$	4,855		$	71,296	$	5,385		$	128,075

The assets and liabilities associated with the discontinued operations have been segregated in the condensed consolidated balance sheets for periods prior to the sale. 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 date indicated:

(In thousands)	December 31, 2014
Fixed-maturity investments	$	224,552
Equity securities	3,749
Trading securities	689,887
Short-term investments	435,413
Other invested assets	108,206
Other assets	274,637
Total assets held for sale	$	1,736,444
Unearned premiums	$	158,921
Reserve for losses and LAE	31,558
VIE debt	85,016
Derivative liabilities	183,370
Other liabilities	488,143
Total liabilities held for sale	$	947,008