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Statement of Financial Position, Unclassified - Insurance Based Operations | 3 Months Ended
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Mar. 31, 2026
Statement of Financial Position [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure | 3. DISCONTINUED OPERATIONS Sale of Ambac Assurance Corporation ("AAC") On September 29, 2025, the Company completed the sale of AAC. See Note 5. Discontinued Operation in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, for further information regarding the sale. The following table summarizes the major line items constituting net income (loss) from discontinued operations reconciled to net income (loss) from discontinued operations presented in the Consolidated Statements of Income (Loss) for the three months ended March 31, 2025:
Three months ended March 31, |  | 2025 |  |  |  |
Revenues: |  |  |  |  |  |
Net premiums earned |  | $ | 4,763 |  |  |  |  |
Net investment income |  | 20,700 |  |  |  |  |
Net investment gains (losses), including impairments |  | (5,954) |  |  |  |  |
Net gains (losses) on derivative contracts |  | (533) |  |  |  |  |
Other revenues |  | 7,821 |  |  |  |  |
Total revenues |  | 26,797 |  |  |  |  |
Expenses: |  |  |  |  |  |
Loss and loss adjustment expenses (benefit) |  | 10,735 |  |  |  |  |
Intangible amortization |  | 5,826 |  |  |  |  |
General & administrative and other expenses |  | 9,082 |  |  |  |  |
Interest expense |  | 15,951 |  |  |  |  |
Total expenses |  | 41,594 |  |  |  |  |
Pretax income (loss) |  | (14,797) |  |  |  |  |
Provision for income taxes |  | 953 |  |  |  |  |
Loss on disposal (1) |  | (14,497) |  |  |  |  |
Net income (loss) from discontinued operations |  | $ | (30,247) |  |  |  |  |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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