XML 84 R13.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Net Income Per Share | 9 Months Ended
--- | ---
Sep. 30, 2013
Earnings Per Share [Abstract] |
Net Income Per Share | 6. NET INCOME PER SHARE Predecessor Ambac common stock (and related stock options and restricted stock units) was cancelled upon emergence from bankruptcy on the Effective Date. Pursuant to the Reorganization Plan, 45,000,000 shares of new common stock at par value of $0.01 per share and 5,047,138 warrants were issued. Warrants entitle such holders to acquire up to 5,047,138 shares of new common stock at an exercise price of $16.67 per share at any time on or prior to April 30, 2023. For the five months ended September 30, 2013, 6,312 warrants were exercised, resulting in an issuance of 2,524 shares of common stock. As of September 30, 2013, Successor Ambac had 5,040,826 warrants outstanding. Successor Ambac’s common stock and warrants began trading on NASDAQ under the symbols “AMBC” and “AMBCW,” respectively, on May 1, 2013. As a result, the earnings per share information for Predecessor Ambac is not meaningful to investors in Successor Ambac’s common stock and warrants. Basic net income per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding plus all dilutive potential common shares outstanding during the period. All dilutive potential common shares outstanding consider common stock deliverable pursuant to warrants issued under the Reorganization Plan. The following table provides a reconciliation of the common shares used for basic earnings per share and diluted earnings per share:
|  | Successor Ambac |  |  |  |  | Predecessor Ambac |
|  | Three months ended September 30, 2013 |  |  |  |  | Three months ended September 30, 2012 |
Weighted average number of common shares used for basic earnings per share |  |  | 45,002,463 |  |  |  |  |  | 302,469,966 |
Effect of potential dilutive shares: |  |  |  |  |  |  |  |  |  |
Warrants |  |  | 1,352,412 |  |  |  |  |  | — |
Restricted stock units |  |  | — |  |  |  |  |  | 112,310 |
Weighted average number of common shares and potential dilutive shares used for diluted earnings per share |  | $ | 46,354,875 |  |  |  |  | $ | 302,582,276 |
Anti-dilutive shares excluded from the above reconciliation: |  |  |  |  |  |  |  |  |  |
Warrants |  |  | — |  |  |  |  |  | — |
Stock options |  |  | — |  |  |  |  |  | 800,575 |
Restricted stock units |  |  | — |  |  |  |  |  | — |
|  | Successor Ambac |  |  |  |  | Predecessor Ambac |
|  | Five months ended September 30, 2013 |  |  |  |  | Four months ended April 30, 2013 |  |  | Nine months ended September 30, 2012 |
Weighted average number of common shares used for basic earnings per share |  |  | 45,001,741 |  |  |  |  |  | 302,469,544 |  |  |  | 302,468,502 |
Effect of potential dilutive shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants |  |  | 1,443,874 |  |  |  |  |  | — |  |  |  | — |
Restricted stock units |  |  | — |  |  |  |  |  | 109,701 |  |  |  | — |
Weighted average number of common shares and potential dilutive shares used for diluted earnings per share |  | $ | 46,445,615 |  |  |  |  | $ | 302,579,245 |  |  | $ | 302,468,502 |
Anti-dilutive shares excluded from the above reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants |  |  | — |  |  |  |  |  | — |  |  |  | — |
Stock options |  |  | — |  |  |  |  |  | 475,550 |  |  |  | 846,185 |
Restricted stock units |  |  | — |  |  |  |  |  | — |  |  |  | 71,550 |

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration