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Subsequent Events (Tables) (Pro Forma) | 12 Months Ended
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Dec. 31, 2014
Pro Forma |
Schedule of Consolidated Pro Forma Balance Sheets | The following table reflects pro-forma adjustments recorded on the Company’s December 31, 2014 Balance Sheet to reflect the impact of the Offering and related activities as if it had occurred on December 31, 2014. This pro-forma financial presentation is based on the best estimates currently available of expenses, some of which are contingent upon future events: WMI HOLDINGS CORP. AND SUBSIDIARIES CONSOLIDATED PRO_FORMA BALANCE SHEETS (in thousands, except share data)
|  | December 31, 2014 |  |  | Preferred Series B Adjustments |  |  |  | Pro-Forma December 31, 2014 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |
Investments held in trust, at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 52,578 |  |  | $ | — |  |  |  | $ | 52,578 |
Cash equivalents held in trust |  |  | 11,122 |  |  |  | — |  |  |  |  | 11,122 |
Total investments held in trust |  |  | 63,700 |  |  |  | — |  |  |  |  | 63,700 |
Cash and cash equivalents |  |  | 78,009 |  |  |  | — |  |  |  |  | 78,009 |
Fixed-maturity securities, at fair value |  |  | 8,063 |  |  |  | — |  |  |  |  | 8,063 |
Restricted cash |  |  | 2,447 |  |  |  | 598,500 |  | (a) |  |  | 600,947 |
Accrued investment income |  |  | 476 |  |  |  | — |  |  |  |  | 476 |
Deferred offering costs |  |  | 2,568 |  |  |  | (2,568 | ) | (b) |  |  | — |
Other assets |  |  | 876 |  |  |  | — |  |  |  |  | 876 |
Total assets |  | $ | 156,139 |  |  | $ | 595,932 |  |  |  | $ | 752,071 |
LIABILITIES, MEZZAINE and SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Notes payable - principal |  | $ | 31,220 |  |  | $ | — |  |  |  | $ | 31,220 |
Notes payable - interest |  |  | 338 |  |  |  | — |  |  |  |  | 338 |
Losses and loss adjustment reserves |  |  | 18,947 |  |  |  | — |  |  |  |  | 18,947 |
Losses payable |  |  | 696 |  |  |  | — |  |  |  |  | 696 |
Unearned premiums |  |  | 1,094 |  |  |  | — |  |  |  |  | 1,094 |
Accrued ceding commissions |  |  | 44 |  |  |  | — |  |  |  |  | 44 |
Loss contract fair market value reserve |  |  | 12,549 |  |  |  | — |  |  |  |  | 12,549 |
Derivative liability - embedded conversion feature |  |  | — |  |  |  | 66,227 |  | (c) |  |  | 66,227 |
Other liabilities |  |  | 3,021 |  |  |  | 28,250 |  | (d) |  |  | 31,271 |
Total liabilities |  |  | 67,909 |  |  |  | 94,477 |  |  |  |  | 162,386 |
Commitments and contingencies |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable and convertible Series B preferred stock, 600,000 shares issued and outstanding |  |  | — |  |  |  | 501,455 |  | (e) |  |  | 501,455 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible Series A preferred stock, $0.00001 par value; 5,000,000 authorized; 1,000,000 and zero shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively |  |  | — |  |  |  | — |  |  |  |  | — |
Convertible Series B preferred stock, $0.00001 par value; 5,000,000 authorized; 600,000 and zero shares issued and outstanding as of January 5, 2015 and December 31, 2013, respectively |  |  | — |  |  |  | — |  |  |  |  | — |
Common stock, $0.00001 par value; 500,000,000 authorized; 202,343,245 and 201,842,351 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively |  |  | 2 |  |  |  | — |  |  |  |  | 2 |
Additional paid-in capital |  |  | 106,628 |  |  |  | — |  |  |  |  | 106,628 |
Accumulated (deficit) |  |  | (18,400 | ) |  |  | — |  |  |  |  | (18,400 | )
Total shareholders’ equity |  |  | 88,230 |  |  |  | — |  |  |  |  | 88,230 |
Total liabilities mezzanine and shareholders’ equity |  | $ | 156,139 |  |  | $ | 595,932 |  |  |  | $ | 752,071 |
The following notes relate to the table above and should be read in conjunction with the information in such table.
(a) | This adjustment is necessary to give effect to the cash deposited into the Escrow account representing the proceeds of the Offering less offering fees payable on the Issue Date but before payment of other offering fees and expenses, some of which are dependent on future events.
(b) | This adjustments is necessary to properly net the deferred offering costs recorded at December 31, 2014 as a reduction of the net mezzanine liability as of the Issue Date.
(c) | This adjustment reflects the valuation of the embedded derivative created by the variable conversion feature of the Series B Offering.
(d) | This adjustment reflects the current estimate of additional offering fees and expenses, some of which are dependent on future events.
(e) | This adjustment reflects the net Series B preferred shares after deducting paid and contingent offering expenses and the value of the embedded derivative described above.

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
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