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Debtor In Possession Financial Information | 3 Months Ended
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Mar. 31, 2012
Debtor in Possession Financial Information [Abstract] |
Debtor In Possession Financial Information | 2. Debtor in Possession Financial Information Liabilities Subject to Compromise As required by ASC Topic 852, Reorganizations, the amount of the Liabilities Subject to Compromise represents our estimate of known or potential pre-petition and post-petition claims to be addressed in connection with the Bankruptcy Filing. Such claims are subject to future adjustments. The Liabilities subject to compromise in the Consolidated Balance Sheet consists of the following:
|  | March 31, 2012 |  |  | December 31, 2011 |
Accrued interest payable |  | $ | 68,123 |  |  | $ | 68,123 |
Other |  |  | 17,105 |  |  |  | 17,109 |
Senior unsecured notes |  |  | 1,222,189 |  |  |  | 1,222,189 |
Directly-issued Subordinated capital securities |  |  | 400,000 |  |  |  | 400,000 |
Consolidated liabilities subject to compromise |  |  | 1,707,417 |  |  |  | 1,707,421 |
Payable to non-debtor subsidiaries |  |  | 35 |  |  |  | 35 |
Debtor's Liabilities subject to compromise |  | $ | 1,707,452 |  |  | $ | 1,707,456 |
Interest was no longer accrued on Ambac's debt obligations included in Liabilities Subject to Compromise on the Consolidated Balance Sheets after Ambac filed for bankruptcy protection on November 8, 2010. If Ambac had continued to accrue interest on its debt obligations, contractual interest expense would have been $24,162 and $28,576 for the three months ended March 31, 2012 and 2011, respectively. Reorganization Items, net Professional advisory fees and other costs directly associated with our reorganization are reported separately as reorganization items pursuant to ASC Topic 852. Reorganization items also include adjustments to reflect the carrying value of certain pre-petition liabilities at their estimated allowable claim amounts. The reorganization items in the Consolidated Statements of Total Comprehensive Income for the three months ended March 31, 2012 and 2011, consisted of the following items:
|  | Three months ended March 31, 2012 |  |  | Three months ended March 31, 2011 |
U.S. Trustee fees |  | $ | 20 |  |  | $ | 5 |
Professional fees |  |  | 2,441 |  |  |  | 10,498 |
Office lease settlement |  |  | — |  |  |  | 14,302 |
Total reorganization items |  | $ | 2,461 |  |  | $ | 24,805 |

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- Definition The entire disclosure for the description and amounts of reorganization under Chapter 11 of the US Bankruptcy Code. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6918054&loc=SL2890621-112765 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6918054&loc=d3e56071-112765 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 90-7 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6918054&loc=d3e56015-112765 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6918054&loc=d3e56068-112765 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6916575&loc=d3e55811-112764 + Details
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