XML 83 R85.htm IDEA: XBRL DOCUMENT v2.4.0.6
Reorganization and Fresh Start Accounting Pro-Forma Adjustments - Schedule of Reorganization Plan and Adoptions of Fresh Start Accounting (Detail) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Mar. 31, 2012
Dec. 31, 2011
Assets:        
Investments $ 6,512,262 $ 6,329,932    
Fixed income securities, at fair value 5,402,290 5,402,395    
Cash 53,135 43,837    
Receivable for securities sold 40,822 761    
Investment income due and accrued 33,944 39,742    
Premium receivables 1,543,098 1,620,621    
Reinsurance recoverable on paid and unpaid losses 160,682 159,086    
Deferred ceded premium 170,032 177,893    
Subrogation recoverable 545,007 497,346    
Deferred acquisition costs 192,306 199,160    
Loans 8,691 9,203    
Derivative assets 112,811 126,106    
Other assets 40,365 39,715    
Total assets 26,164,660 27,085,265    
Liabilities:        
Liabilities subject to compromise 1,704,641 1,704,904    
Unearned premiums 2,623,445 2,778,401    
Loss and loss expense reserve 6,590,216 6,619,486    
Ceded premiums payable 92,085 94,527    
Obligations under investment agreements 357,371 356,091    
Obligations under investment repurchase agreements 5,926 5,926    
Deferred taxes 1,540 1,586    
Current taxes 97,274 96,778    
Long-term debt 153,873 150,170    
Accrued interest payable 246,378 228,835    
Derivative liabilities 505,746 531,315    
Other liabilities 91,057 102,488    
Payable for securities purchased 17,051 25    
Total liabilities 29,034,730 30,332,232    
Stockholders' deficit:        
Preferred stock          
Common stock 3,080 3,080    
Additional paid-in capital 2,172,027 2,172,027    
Accumulated other comprehensive income 720,071 625,385    
Accumulated deficit (6,015,025) (6,297,264)    
Common stock held in treasury at cost (410,695) (410,755)    
Total Ambac Financial Group, Inc. stockholders' deficit (3,530,542) (3,907,527)    
Noncontrolling interest 660,472 660,560    
Total stockholders' deficit (2,870,070) (3,246,967) (2,913,642) (3,149,533)
Total liabilities and stockholders' deficit 26,164,660 27,085,265    
Variable interest entity [Member]
       
Assets:        
Fixed income securities, at fair value 2,414,607 2,261,294    
Restricted cash 2,258 2,290    
Investment income due and accrued 1,338 4,101    
Loans 14,327,840 15,568,711    
Other assets 5,462 5,467    
Liabilities:        
Long-term debt 14,229,373 15,436,008    
Accrued interest payable 828 3,618    
Derivative liabilities 2,317,625 2,221,781    
Other liabilities 301 293    
Predecessor [Member]
       
Assets:        
Investments 6,512,262      
Cash 53,135      
Receivable for securities sold 40,822      
Investment income due and accrued 33,944      
Premium receivables 1,543,098      
Reinsurance recoverable on paid and unpaid losses 160,682      
Deferred ceded premium 170,032      
Subrogation recoverable 545,007      
Deferred acquisition costs 192,306      
Loans 8,691      
Derivative assets 112,811      
Other assets 40,365      
Total assets 26,164,660      
Liabilities:        
Liabilities subject to compromise 1,704,641      
Unearned premiums 2,623,445      
Loss and loss expense reserve 6,590,216      
Ceded premiums payable 92,085      
Obligations under investment agreements 357,371      
Obligations under investment repurchase agreements 5,926      
Deferred taxes 1,540      
Current taxes 97,274      
Long-term debt 153,873      
Accrued interest payable 246,378      
Derivative liabilities 505,746      
Other liabilities 91,057      
Payable for securities purchased 17,051      
Total liabilities 29,034,730      
Stockholders' deficit:        
Preferred stock         
Accumulated other comprehensive income 720,071      
Accumulated deficit (6,015,025)      
Common stock held in treasury at cost (410,695)      
Total Ambac Financial Group, Inc. stockholders' deficit (3,530,542)      
Noncontrolling interest 660,472      
Total stockholders' deficit (2,870,070)      
Total liabilities and stockholders' deficit 26,164,660      
Predecessor [Member] | Variable interest entity [Member]
       
Assets:        
Fixed income securities, at fair value 2,414,607      
Restricted cash 2,258      
Investment income due and accrued 1,338      
Loans 14,327,840      
Other assets 5,462      
Liabilities:        
Long-term debt 14,229,373      
Accrued interest payable 828      
Derivative liabilities 2,317,625      
Other liabilities 301      
Predecessor [Member] | Common stock-Predecessor Ambac [Member]
       
Stockholders' deficit:        
Common stock 3,080      
Predecessor [Member] | Additional paid-in capital-Predecessor Ambac [Member]
       
Stockholders' deficit:        
Additional paid-in capital 2,172,027      
Reorganization Items [Member]
       
Assets:        
Investments (101,900)      
Current taxes 4,626      
Total assets (97,274)      
Liabilities:        
Liabilities subject to compromise (1,704,641)      
Current taxes (97,274)      
Total liabilities (1,801,915)      
Stockholders' deficit:        
Preferred stock         
Accumulated deficit 1,519,641      
Total Ambac Financial Group, Inc. stockholders' deficit 1,704,641      
Total stockholders' deficit 1,704,641      
Total liabilities and stockholders' deficit (97,274)      
Reorganization Items [Member] | Common stock-Successor Ambac [Member]
       
Stockholders' deficit:        
Common stock 450      
Reorganization Items [Member] | Additional paid-in capital-Successor Ambac [Member]
       
Stockholders' deficit:        
Additional paid-in capital 184,550      
Fresh Start Adjustments [Member]
       
Assets:        
Deferred acquisition costs (192,306)      
Loans (1,572)      
Insurance intangible 2,345,268      
Goodwill 286,956      
Total assets 2,429,340      
Liabilities:        
Obligations under investment agreements (1,144)      
Obligations under investment repurchase agreements 55      
Deferred taxes 168,373      
Long-term debt 732,938      
Accrued interest payable (22,184)      
Total liabilities 855,871      
Stockholders' deficit:        
Preferred stock         
Accumulated other comprehensive income (720,071)      
Accumulated deficit 4,495,384      
Common stock held in treasury at cost 410,695      
Total Ambac Financial Group, Inc. stockholders' deficit 2,010,901      
Noncontrolling interest (437,432)      
Total stockholders' deficit 1,573,469      
Total liabilities and stockholders' deficit 2,429,340      
Fresh Start Adjustments [Member] | Variable interest entity [Member]
       
Assets:        
Loans (9,006)      
Liabilities:        
Long-term debt (22,167)      
Fresh Start Adjustments [Member] | Common stock-Predecessor Ambac [Member]
       
Stockholders' deficit:        
Common stock (3,080)      
Fresh Start Adjustments [Member] | Additional paid-in capital-Predecessor Ambac [Member]
       
Stockholders' deficit:        
Additional paid-in capital (2,172,027)      
Successor Pro-Forma [Member]
       
Assets:        
Investments 6,410,362      
Cash 53,135      
Receivable for securities sold 40,822      
Investment income due and accrued 33,944      
Premium receivables 1,543,098      
Reinsurance recoverable on paid and unpaid losses 160,682      
Deferred ceded premium 170,032      
Subrogation recoverable 545,007      
Loans 7,119      
Derivative assets 112,811      
Current taxes 4,626      
Insurance intangible 2,345,268      
Goodwill 286,956      
Other assets 40,365      
Total assets 28,496,726      
Liabilities:        
Unearned premiums 2,623,445      
Loss and loss expense reserve 6,590,216      
Ceded premiums payable 92,085      
Obligations under investment agreements 356,227      
Obligations under investment repurchase agreements 5,981      
Deferred taxes 169,913      
Long-term debt 886,811      
Accrued interest payable 224,194      
Derivative liabilities 505,746      
Other liabilities 91,057      
Payable for securities purchased 17,051      
Total liabilities 28,088,686      
Stockholders' deficit:        
Preferred stock         
Total Ambac Financial Group, Inc. stockholders' deficit 185,000      
Noncontrolling interest 223,040      
Total stockholders' deficit 408,040      
Total liabilities and stockholders' deficit 28,496,726      
Successor Pro-Forma [Member] | Variable interest entity [Member]
       
Assets:        
Fixed income securities, at fair value 2,414,607      
Restricted cash 2,258      
Investment income due and accrued 1,338      
Loans 14,318,834      
Other assets 5,462      
Liabilities:        
Long-term debt 14,207,206      
Accrued interest payable 828      
Derivative liabilities 2,317,625      
Other liabilities 301      
Successor Pro-Forma [Member] | Common stock-Successor Ambac [Member]
       
Stockholders' deficit:        
Common stock 450      
Successor Pro-Forma [Member] | Additional paid-in capital-Successor Ambac [Member]
       
Stockholders' deficit:        
Additional paid-in capital $ 184,550