XML 69 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - Successor [Member] - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income (loss) attributable to common shareholders $ 106,419 $ 30,487
Net (loss) gain 401 242
Net income (loss) 106,018 30,245
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 2,136 2,223
Goodwill, Impairment Loss 514,511 0
Amortization of bond premium and discount (99,534) (50,432)
Reorganization items 0 211
Share-based compensation 2,150 2,960
Deferred income taxes (122) (23)
Current income taxes (6,686) 47
Unearned premiums, net (227,952) (284,355)
Losses and loss expenses, net (422,892) 59,741
Ceded premiums payable (2,785) (9,858)
Investment income due and accrued (98) 4,845
Premium receivables 105,161 186,389
Accrued interest payable 30,860 81,956
Amortization of insurance intangible assets 115,200 109,878
Net mark-to-market (gains) losses (42,227) (11,491)
Net realized investment gains $ (50,854) (29,401)
Financial Guarantee Insurance Contracts, Premium Received over Contract Period, Premium Receivable, Weighted Average Collection Period 9 years 8 months 12 days  
Other-than-temporary impairment charges $ 13,289 24,157
Net realized (gains) losses on extinguishment of debt (81) 0
Variable interest entity activities (38,130) 34,574
Other, net 82,944 106,703
Net cash provided by operating activities 80,908 258,369
Cash flows from investing activities:    
Proceeds from sales of bonds 797,660 1,727,142
Proceeds from matured bonds 695,879 896,936
Purchases of bonds (1,696,858) (2,547,727)
Proceeds from sales of other invested assets 147,336 40,173
Purchases of other invested assets (101,913) (54,768)
Change in short-term investments (4,715) (279,781)
Loans, net 215 112
Change in swap collateral receivable (17,032) (105,354)
Other, net (2,480) 6,553
Net cash (used in) investing activities (181,908) (316,714)
Cash flows from financing activities:    
Proceeds from the sale of Junior Surplus Notes of the Segregated Account 0 224,262
Proceeds from Variable Interest Entity Secured Borrowing 144,189 0
Paydowns of a secured borrowing (7,355) 0
Proceeds from warrant exercises 3 15
Warrants Purchased During Period Dollars (5,017) 0
Payments for investment agreement draws (63,872) (199,970)
Payments for extinguishment of long-term debt (13,752) 0
Net cash provided by financing activities 54,196 24,307
Net cash flow (46,804) (34,038)
Cash and cash equivalents at beginning of period 73,903 77,370
Cash and cash equivalents end of period 73,903 77,370
Supplemental disclosure of cash flow information:    
Income taxes 15,176 3,246
Interest on secured borrowing 449 0
Interest on investment agreements 261 459
Cash payments related to reorganization items:    
Professional fees paid for services rendered in connection with the Chapter 11 proceeding $ 0 $ 272