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Income Taxes (Tables) | 3 Months Ended
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Mar. 31, 2014
Income Tax Disclosure [Abstract] |
Major Jurisdictions | The following are the major jurisdictions in which Ambac and its affiliates operate and the earliest tax years subject to examination:
Jurisdiction | Tax Year
United States | 2010
New York State | 2008
New York City | 2011
United Kingdom | 2006
Italy | 2007
Significant Portions of Deferred Tax Liabilities and Deferred Tax Assets | The tax effects of temporary differences that give rise to significant portions of the deferred tax liabilities and deferred tax assets at March 31, 2014 and December 31, 2013 are presented below:
| Successor Ambac
| March 31, 2014 |  | December 31, 2013
Deferred tax liabilities: |  |  |
Insurance intangible | $ | 549,525 |  |  | $ | 559,288 |
Variable interest entities | 127,399 |  |  | 131,137 |
Investments | 180,607 |  |  | 168,653 |
Unearned premiums and credit fees | 45,265 |  |  | 38,826 |
Other | 2,224 |  |  | 2,221 |
Total deferred tax liabilities | 905,020 |  |  | 900,125 |
Deferred tax assets: |  |  |
Unrealized losses & impairments on investments | — |  |  | — |
Net operating loss and capital carryforward | 2,127,884 |  |  | 2,177,029 |
Loss reserves | 590,032 |  |  | 634,692 |
Compensation | 9,005 |  |  | 8,724 |
AMT Credits | 6,903 |  |  | 4,269 |
Other | 58,597 |  |  | 58,581 |
Sub-total deferred tax assets | 2,792,421 |  |  | 2,883,295 |
Valuation allowance | 1,889,603 |  |  | 1,985,369 |
Total deferred tax assets | 902,818 |  |  | 897,926 |
Net deferred tax liability | $ | (2,202 | ) |  | $ | (2,199 | )

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (c),(d)(2)-(3) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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