Note 4 - Segment Reporting Level 3 (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Summarized operating results for our segments as of and for the years ended, as applicable, were as follows:

	December 31, 2017
(In thousands)	Mortgage Insurance		Services				Total
Net premiums written—insurance (1)(2)	$	818,417	$	—			$	818,417
(Increase) decrease in unearned premiums(2)	114,356		—				114,356
Net premiums earned—insurance	932,773		—				932,773
Services revenue	—		161,833				161,833
Net investment income	127,248		—				127,248
Other income	2,886		—				2,886
Total (3)(4)	1,062,907		161,833				1,224,740
Provision for losses	136,183		—				136,183
Policy acquisition costs	24,277		—				24,277
Cost of services	—		105,812				105,812
Other operating expenses before corporate allocations	150,975		50,969				201,944
Restructuring and other exit costs (5)	—		6,828				6,828
Total (4)	311,435		163,609				475,044
Adjusted pretax operating income (loss) before corporate allocations	751,472		(1,776		)		749,696
Allocation of corporate operating expenses	55,441		14,319				69,760
Allocation of interest expense	45,016		17,745				62,761
Adjusted pretax operating income (loss)	$	651,015	$	(33,840	)		$	617,175
Total assets	$	5,733,918	$	166,963		(6)	$	5,900,881
NIW (in millions)	$	53,905

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(1) Net of ceded premiums written under the QSR Transactions and the 2016 Single Premium QSR Transaction. See Note 8 for additional information.

(2) Effective December 31, 2017, we amended the 2016 Single Premium QSR Transaction to increase the amount of ceded risk for performing loans under the agreement from 35% to 65% for the 2015 through 2017 vintages, resulting in a reduction of $145.7 million in net premiums written.

(3) Excludes net gains on investments and other financial instruments of $3.6 million, not included in adjusted pretax operating income.

(4)Includes inter-segment revenues and expenses as follows:

	December 31, 2017
(In thousands)	Mortgage Insurance		Services
Inter-segment revenues included in Services segment	$	—	$	6,730
Inter-segment expenses included in Mortgage Insurance segment	6,730		—

(5) Primarily includes employee severance and related benefit costs. Does not include impairment of long-lived assets, which is not a component of adjusted pretax operating income.

(6) The decrease in total assets for the Services segment at December 31, 2017, as compared to December 31, 2016, is primarily due to the impairment of goodwill and other intangible assets. See Note 7 for further details.

	December 31, 2016
(In thousands)	Mortgage Insurance		Services			Total
Net premiums written—insurance (1)	$	733,834	$	—		$	733,834
(Increase) decrease in unearned premiums	187,935		—			187,935
Net premiums earned—insurance	921,769		—			921,769
Services revenue	—		177,249			177,249
Net investment income	113,466		—			113,466
Other income	3,572		—			3,572
Total (2) (3)	1,038,807		177,249			1,216,056
Provision for losses	204,175		—			204,175
Policy acquisition costs	23,480		—			23,480
Cost of services	—		115,369			115,369
Other operating expenses before corporate allocations	140,624		55,815			196,439
Total (3)	368,279		171,184			539,463
Adjusted pretax operating income (loss) before corporate allocations	670,528		6,065			676,593
Allocation of corporate operating expenses	45,178		8,533			53,711
Allocation of interest expense	63,439		17,693			81,132
Adjusted pretax operating income (loss)	$	561,911	$	(20,161	)	$	541,750
Total assets	$	5,506,338	$	356,836		$	5,863,174
NIW (in millions)	$	50,530

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(1) Net of ceded premiums written under the QSR Transactions and the 2016 Single Premium QSR Transaction. See Note 8 for additional information.

(2) Excludes net gains on investments and other financial instruments of $30.8 million, not included in adjusted pretax operating income.

(3) Includes inter-segment revenues and expenses as follows:

	December 31, 2016
(In thousands)	Mortgage Insurance		Services
Inter-segment revenues included in Services segment	$	—	$	8,355
Inter-segment expenses included in Mortgage Insurance segment	8,355		—

	December 31, 2015
	Mortgage Insurance			Services			Total
(In thousands)
Net premiums written—insurance (1)	$	968,505		$	—		$	968,505
(Increase) decrease in unearned premiums	(52,597		)	—			(52,597		)
Net premiums earned—insurance	915,908			—			915,908
Services revenue	—			163,140			163,140
Net investment income	81,537			—			81,537
Other income	2,899			—			2,899
Total (2) (3)	1,000,344			163,140			1,163,484
Provision for losses	198,433			—			198,433
Policy acquisition costs	22,424			—			22,424
Cost of services	—			97,256			97,256
Other operating expenses before corporate allocations	148,619			43,515			192,134
Total (3)	369,476			140,771			510,247
Adjusted pretax operating income (loss) before corporate allocations	630,868			22,369			653,237
Allocation of corporate operating expenses	46,418			4,823			51,241
Allocation of interest expense	73,402			17,700			91,102
Adjusted pretax operating income (loss)	$	511,048		$	(154	)	$	510,894
Total assets	5,290,422			351,678			5,642,100
NIW (in millions)	$	41,411

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(1) Net of ceded premiums written under the QSR Transactions. See Note 8 for additional information.

(2) Excludes net gains on investments and other financial instruments of $35.7 million, not included in adjusted pretax operating income.

(3) Includes inter-segment revenues and expenses as follows:

	December 31, 2015
(In thousands)	Mortgage Insurance		Services
Inter-segment revenues included in Services segment	$	—	$	5,924
Inter-segment expenses included in Mortgage Insurance segment	5,924		—

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

The reconciliation of adjusted pretax operating income (loss) to consolidated pretax income from continuing operations is as follows:

	December 31,
(In thousands)	2017			2016			2015
Adjusted pretax operating income (loss):
Mortgage insurance (1)	$	651,015		$	561,911		$	511,048
Services (1)	(33,840		)	(20,161		)	(154		)
Total adjusted pretax operating income	$	617,175		$	541,750		$	510,894
Net gains (losses) on investments and other financial instruments	3,621			30,751			35,693
Loss on induced conversion and debt extinguishment	(51,469		)	(75,075		)	(94,207		)
Acquisition-related expenses (2)	(105		)	(519		)	(1,565		)
Impairment of goodwill	(184,374		)	—			—
Amortization and impairment of other intangible assets	(27,671		)	(13,221		)	(12,986		)
Impairment of other long-lived assets(3)	(10,440		)	—			—
Consolidated pretax income from continuing operations	$	346,737		$	483,686		$	437,829

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(1) Includes inter-segment expenses and revenues as listed in the notes to the preceding tables.

(2) Acquisition-related expenses represent expenses incurred to effect the acquisition of a business, net of adjustments to accruals previously recorded for acquisition expenses.

(3) Included within restructuring and other exit costs. See Note 2.