Note 2 - Discontinued Operations (Tables)

9 Months Ended

Sep. 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 September 30,					Nine Months Ended September 30,
(In thousands)	2015 (1)		2014			2015			2014
Net premiums earned	$	—	$	9,329		$	1,007		$	26,700
Net investment income	—		9,035			9,153			27,020
Net (losses) gains on investments and other financial instruments	—		(563		)	21,486			41,596
Change in fair value of derivative instruments	—		19,360			2,625			126,923
Other income	—		9			—			88
Total revenues	—		37,170			34,271			222,327
Provision for losses	—		(6,416		)	502			4,311
Policy acquisition costs	—		1,794			(191		)	5,066
Other operating expense	—		5,037			4,107			15,239
Total expenses	—		415			4,418			24,616
Equity in net loss of affiliates	—		—			(13		)	(13		)
Income from operations of businesses held for sale	—		36,755			29,840			197,698
Loss on sale	—		—			(14,280		)	—
Income tax provision	—		15,196			10,175			48,064
Income from discontinued operations, net of tax	$	—	$	21,559		$	5,385		$	149,634

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(1) There was no activity for discontinued operations in the three months ended September 30, 2015.

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 dates indicated:

(In thousands)	September 30, 2015		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