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Note 2 - Discontinued Operations | 3 Months Ended
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Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On April 1, 2015, Radian Guaranty completed the sale of 100% of the issued and outstanding shares of Radian Asset Assurance for a purchase price of approximately $810 million, pursuant to the Radian Asset Assurance Stock Purchase Agreement. Based upon the applicable terms of the Radian Asset Assurance Stock Purchase Agreement, we determined that Radian Asset Assurance met the criteria for held for sale and discontinued operations accounting at December 31, 2014. As a result, we recognized a pretax impairment charge of approximately $467.5 million for the year ended December 31, 2014 and an additional pretax impairment charge of $13.9 million for the three months ended March 31, 2015. We recorded net income on discontinued operations of $0.5 million related to this sale in the first quarter of 2015. No general corporate overhead or interest expense was allocated to discontinued operations. The operating results of Radian Asset Assurance have been classified as discontinued operations for all periods presented in our condensed consolidated statements of operations. The table below summarizes the components of income from discontinued operations, net of tax, for the period indicated. There was no activity for discontinued operations in the three months ended March 31, 2016.
| Three Months Ended March 31,
(In thousands) | 2015
Net premiums earned | $ | 1,007 |
Net investment income | 9,153 |
Net gains on investments and other financial instruments | 13,668 |
Change in fair value of derivative instruments | 2,625 |
Total revenues | 26,453 |
Provision for losses | 502 |
Policy acquisition costs | (191 | )
Other operating expenses | 4,107 |
Total expenses | 4,418 |
Equity in net loss of affiliates | (13 | )
Income from operations of businesses held for sale | 22,022 |
Loss on sale | (13,930 | )
Income tax provision | 7,562 |
Income from discontinued operations, net of tax | $ | 530 |

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