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Comprehensive Income
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Comprehensive Income

5.         COMPREHENSIVE INCOME

The following tables detail the changes in the balances of each component of accumulated other comprehensive income for the affected periods:

 

     Unrealized Gains
(Losses)
on Available-for-
Sale Securities(1)		     Changes to
Postretirement
Benefit(1)		      Gain (Loss) on
Foreign Currency
Translation(1)		      Total  

Successor Ambac

    Eight months ended
December 31, 2013		     Eight months ended
December 31, 2013		      Eight months ended
December 31, 2013		      Eight months ended
December 31, 2013		  

Beginning Balance

    $ —        $ —        $ —        $ —     
  

 

 

    

 

 

     

 

 

     

 

 

  

Other comprehensive income before reclassifications

      (85,641 )      10,847        42,724         (32,070 ) 

Amounts reclassified from accumulated other comprehensive income

      43,731        —          —          43,731   
  

 

 

    

 

 

     

 

 

     

 

 

  

Net current period other comprehensive income

      (41,910 )      10,847         42,724         11,661   
  

 

 

    

 

 

     

 

 

     

 

 

  

Balance at December 31, 2013

    $ (41,910 )    $ 10,847       $ 42,724       $ 11,661   
  

 

 

    

 

 

     

 

 

     

 

 

  

 

     Unrealized Gains (Losses)
on Available-
for-Sale Securities(1)		     Changes to
Postretirement
Benefit(1)		     Gain (Loss) on
Foreign Currency
Translation(1)		     Total  

Predecessor Ambac

    Four months ended
April 30, 2013		     Four months ended
April 30, 2013		     Four months ended
April 30, 2013		     Four months ended
April 30, 2013		  

Beginning Balance

    $ 651,272      $ (5,860 )    $ (20,027 )    $ 625,385   
  

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income before reclassifications

      188,212        —         (657 )      187,555   

Amounts reclassified from accumulated other comprehensive income

      (12,865 )      185        —         (12,680 ) 

Elimination of Predecessor Ambac Shareholder Equity Accounts(2)

      (826,619 )      5,675        20,684        (800,260 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net current period other comprehensive income

      (651,272 )      5,860        20,027        (625,385 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at April 30, 2013

    $ —       $ —       $ —       $ —    
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) All amounts are net of tax and noncontrolling interest. Amounts in parentheses indicate debits.
(2) See Note 3, Fresh Start Financial Statement Reporting, for additional information.

The following table details the significant amounts reclassed from each component of accumulated other comprehensive income for the affected periods:

 

     Amount Reclassified from Accumulated
Other Comprehensive Income(1)		      

Details about Accumulated Other

Comprehensive Income Components

    Successor Ambac –
Eight months ended
December 31, 2013		      Predecessor Ambac –
Four months ended
April 30, 2013		    

Affected Line Item in the

Consolidated Statement of

Total Comprehensive Income

Unrealized Gains (Losses) on Available-for-Sale Securities

        
   $ 43,731       $ (12,865 )    Net realized investment gains
     —           —        Tax (expense) benefit
  

 

 

     

 

 

    
   $ 43,731       $ (12,865 )    Net of tax and noncontrolling interest(3)
  

 

 

     

 

 

    

Amortization of Postretirement Benefit

        

Prior service cost

    $ —         $ 1,616      Underwriting and operating expenses(2)

Actuarial gains (losses)

      —           (727 )    Underwriting and operating expenses(2)
  

 

 

     

 

 

    
     —           889      Total before tax
     —           704      Tax (expense) benefit
  

 

 

     

 

 

    
   $ —         $ 185      Net of tax and noncontrolling interest(3)
  

 

 

     

 

 

    

Total reclassifications for the period

    $ 43,731       $ (12,680 )    Net of tax and noncontrolling interest(3)
  

 

 

     

 

 

    

 

(1) Amounts in parentheses indicate debits to the Consolidated Statement of Comprehensive Income.
(2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost.
(3) Amount agrees with amount reported as reclassifications from AOCI in the disclosure about changes in AOCI balances.