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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Major Jurisdictions

The following are the major jurisdictions in which Ambac and its subsidiaries operate and the earliest tax years subject to examination:

Jurisdiction	Tax Year
United States	2010
New York State	2011
New York City	2011
United Kingdom	2009
Italy	2009

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 September 30, 2015 and December 31, 2014 are presented below:

	September 30, 2015				December 31, 2014
Deferred tax liabilities:
Insurance intangible	$	447,807			$	493,822
Variable interest entities	15,615				14,149
Investments	147,881				138,072
Unearned premiums and credit fees	99,372				104,589
Other	33,768				33,835
Total deferred tax liabilities	744,443				784,467
Deferred tax assets:
Net operating loss and capital carryforward	1,691,018				1,890,551
Loss reserves	119,427				185,881
Compensation	6,016				5,276
AMT Credits	18,439				10,359
Other	9,540				9,539
Sub total deferred tax assets	1,844,440				2,101,606
Valuation allowance	1,101,954				1,319,218
Total deferred tax assets	742,486				782,388
Net deferred tax asset (liability)	$	(1,957	)		$	(2,079	)

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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



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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



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-Paragraph 15



-Subparagraph (c),(d)(2)-(3)



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