XML 142 R111.htm IDEA: XBRL DOCUMENT v3.3.1.900
Schedule II Financial Information of Registrant Parent Company Statement of Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:                      
Net investment income $ 22,833 $ 22,091 $ 19,285 $ 17,328 $ 16,531 $ 17,143 $ 16,663 $ 15,318 $ 81,537 $ 65,655 $ 68,121
Net gains (losses) on other financial instruments                 612 (3,880) (7,580)
Other income                 6,300 5,820 6,890
Total revenues                 1,193,253 1,072,685 749,906
Loss on induced conversion and debt extinguishment 2,320 11 91,876 0         94,207 0 0
Expenses:                      
Other operating expenses                 246,157 252,283 257,402
Interest expense                 91,102 90,464 74,618
Total expenses                 755,424 665,529 923,252
Pretax Income (Loss) from Continuing Operations Attributable to Parent                 437,829 407,156 (173,346)
Income tax (benefit) provision                 156,290 (852,418) (31,495)
Income (Loss) from Continuing Operations Attributable to Parent 74,528 70,091 45,193 91,727 878,026 [1] 132,031 [1] 103,537 [1] 145,980 [1] 281,539 1,259,574 [1] (141,851)
Loss from discontinued operations, net of tax 0 [2] 0 [2] 4,855 [2] 530 [2] (449,691) [2],[3] 21,559 [2],[3] 71,296 [2],[3] 56,779 [2],[3] 5,385 [2] (300,057) [2],[3] (55,134)
Net income (loss) $ 74,528 $ 70,091 $ 50,048 $ 92,257 $ 428,335 $ 153,590 $ 174,833 $ 202,759 286,924 959,517 (196,985)
Other comprehensive income (loss), net of tax                 (70,227) 14,161 21,090
Comprehensive Income (Loss), Net of Tax, Attributable to Parent                 216,697 973,678 (175,895)
Parent Company                      
Revenues:                      
Net investment income                 17,917 9,515 4,300
Net gains (losses) on investments and other financial instruments                 2,975 (2,732) (6,956)
Other income                 0 7 0
Total revenues                 20,892 6,790 (2,656)
Loss on induced conversion and debt extinguishment                 94,207 0 0
Expenses:                      
Interest expense                 55,768 57,366 37,087
Total expenses                 149,975 57,366 37,087
Pretax Income (Loss) from Continuing Operations Attributable to Parent                 (129,083) (50,576) (39,743)
Income tax (benefit) provision                 (43,854) 143,912 9,234
Equity in net income (loss) of affiliates                 371,949 1,172,032 (148,008)
Income (Loss) from Continuing Operations Attributable to Parent                 286,720 977,544 (196,985)
Loss from discontinued operations, net of tax                 204 (18,027) 0
Net income (loss)                 286,924 959,517 (196,985)
Other comprehensive income (loss), net of tax                 (70,227) 14,161 21,090
Comprehensive Income (Loss), Net of Tax, Attributable to Parent                 $ 216,697 $ 973,678 $ (175,895)
[1] This amount reflects a reversal of substantially all of our tax valuation allowance in the fourth quarter of 2014.
[2] Radian completed the sale of Radian Asset Assurance to Assured on April 1, 2015, pursuant to the Radian Asset Assurance Stock Purchase Agreement dated as of December 22, 2014. Until the April 1, 2015 sale date, the operating results of Radian Asset Assurance were classified as discontinued operations for all periods presented in our consolidated statements of operations. See Note 3 for additional information.
[3] Reflects a $468 million loss on reclassification of Radian Asset Assurance as assets held for sale in the fourth quarter of 2014.