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Leases (Notes) | 3 Months Ended
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Mar. 31, 2019
Leases of Lessee Disclosure [Text Block] | 11. LEASES Ambac adopted the New Lease Standard as further described in Note 2, Basis of Presentation and Significant Accounting Policies. A contract contains a lease if it conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Ambac's evaluation of whether certain contracts contain leases may require judgment regarding what party controls the asset and whether the asset is physically distinct. The New Lease Standard provides practical expedients that affect a reporting entity’s ongoing accounting. For contracts where Ambac is the lessee, we have elected the short-term lease recognition exemption for all leases that qualify. For those leases that qualify for that exemption, we will not recognize ROU assets or lease liabilities. For all contracts where Ambac is the lessee and lessor we have also elected the practical expedient to not separate lease and non-lease components. Lessee information: Ambac is the lessee in operating leases of corporate offices, data centers and equipment. Our leases, in effect at March 31, 2019, have remaining lease terms ranging from 1 to 11 years. One data center lease has an automatic renewal of one-year unless either party elects to terminate by providing 120 days notice prior to the renewal. This renewal feature is not recognized in the lease liability or right-of-use asset as it is not reasonably certain we will elect to renew. No other leases contain extension or termination provisions. Lease costs are included in operating expenses on the consolidated statement of comprehensive income. The components of lease costs, net of sub-lessor income, is as follows:
Three Months Ended |  | March 31, 2019
Operating lease cost |  | $ | 1,526 |
Variable Lease Cost |  | 179 |
Sublease income |  | (65 | )
Total lease cost |  | $ | 1,640 |
Ambac is required to make variable lease payments under certain leases which primarily related to variable costs of the lessor. Such costs include taxes, insurance, maintenance and electricity. Supplemental information related to leases is as follows:
Three Months Ended |  | March 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 1,543 |
Right-of-use assets obtained in exchange for operating lease liabilities (non-cash) |  | 14,360 |
Supplemental balance sheet information related to leases is as follows:
|  | March 31, 2019
Operating leases: |  |
Operating lease right of use assets |  | $ | 13,100 |
Operating lease liabilities |  | 13,545 |
Weighted average remaining lease term: |  |
Operating leases |  | 8.7 years |
Weighted average discount rate: |  |
Operating leases |  | 8.0 | %
Operating lease right of use assets and operating lease liabilities are included in Other assets and Other liabilities, respectively, on the consolidated balance sheet. The discount rate used to initially measure the right of use assets and lease liabilities was based on Ambac's estimated secured borrowing rate. The Ambac Note, more fully described in Note 1. Background and Business Description in the Consolidated Financial Statements included Part II, Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, was a significant data point in estimating this rate. Future undiscounted lease payments to be made are as follows:
As of March 31, |  | Operating Leases
2019 (nine months) |  | $ | 3,580 |
2020 |  | 1,781 |
2021 |  | 1,436 |
2022 |  | 1,436 |
2023 |  | 1,436 |
Thereafter |  | 9,294 |
Total lease payments |  | 18,963 |
Less: imputed interest |  | (5,418 | )
Total |  | $ | 13,545 |
Excluded from the above is an operating lease, relating to office space, that has not commenced as of March 31, 2019 with total lease payments of $24,379 and imputed interest of $9,440. This lease commenced in April 2019 with a lease term of 10.8 years. Lessor information: Ambac is the lessor in one operating sublease of corporate office space which has a remaining term of 10.8 years. There are no extension or termination provisions. Future undiscounted lease payments to be received are as follows:
As of March 31, |  | Operating Leases
2019 (nine months) |  | $ | 172 |
2020 |  | 1,038 |
2021 |  | 1,051 |
2022 |  | 1,076 |
2023 |  | 1,126 |
Thereafter |  | 7,571 |
Total lease receipts |  | $ | 12,034 |
Leases of Lessee Disclosure [Text Block] | Future undiscounted lease payments to be received are as follows:
As of March 31, |  | Operating Leases
2019 (nine months) |  | $ | 172 |
2020 |  | 1,038 |
2021 |  | 1,051 |
2022 |  | 1,076 |
2023 |  | 1,126 |
Thereafter |  | 7,571 |
Total lease receipts |  | $ | 12,034 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=77888428&loc=SL77919396-209981 + Details
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