Note 3 - Discontinued Operations (Tables)

12 Months Ended

Dec. 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 (loss) from discontinued operations consisted of the following components for the periods indicated:

	Year Ended December 31,
(In thousands)	2015			2014			2013
Net premiums earned	$	1,007		$	37,194		$	49,474
Net investment income	9,153			35,633			39,966
Net gains (losses) on investments and other financial instruments	21,486			55,312			(47,930		)
Impairment losses on investments	—			—			(3		)
Change in fair value of derivative instruments	2,625			130,617			(32,406		)
Other income	—			88			(20		)
Total revenues	34,271			258,844			9,081
Provision for losses	502			2,853			2,486
Policy acquisition costs	(191		)	6,340			13,178
Other operating expense	4,107			23,726			27,127
Total expenses	4,418			32,919			42,791
Equity in net (loss) income of affiliates	(13		)	(13		)	1
Income (loss) from operations of businesses held for sale	29,840			225,912			(33,709		)
Loss on sale	(14,280		)	(467,527		)	—
Income tax provision	10,175			58,442			21,425
Income (loss) from discontinued operations, net of tax	$	5,385		$	(300,057	)	$	(55,134	)

The assets and liabilities associated with the discontinued operations have been segregated in the consolidated balance sheets. The following table summarizes the major components of Radian Asset Assurance’s assets and liabilities held for sale on the Consolidated Balance Sheets as of December 31, 2015 and 2014:

	December 31,
(In thousands)	2015		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