XML 95 R38.htm IDEA: XBRL DOCUMENT v3.3.0.814
Note 11 - Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table shows the rollforward of AOCI as of the periods indicated. During the nine months ended September 30, 2015, we sold equity securities in our portfolio and reinvested the proceeds in assets that qualify as PMIERs-compliant Available Assets, recognizing pretax gains of $68.7 million.
 
Three Months Ended September 30, 2015
 
Nine Months Ended September 30, 2015
 
(In thousands)
Before Tax
 
Tax Effect
 
Net of Tax
 
Before Tax
 
Tax Effect
 
Net of Tax
 
Balance at beginning of period
$
(17,744
)
 
$
(6,210
)
 
$
(11,534
)
 
$
79,208

 
$
27,723

 
$
51,485

 
OCI:
 
 
 
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustments
(184
)

(64
)

(120
)

(135
)

(47
)
 
(88
)
 
Unrealized gains (losses) on investments:
 
 
 
 


 
 
 
 
 
 
 
Unrealized holding gains (losses) arising during the period
6,172

 
2,160

 
4,012

 
(17,160
)
 
(6,006
)
 
(11,154
)
 
Less: Reclassification adjustment for net (losses) gains included in net income (1) 
(343
)
 
(120
)
 
(223
)
 
68,320

 
23,912

 
44,408

 
Net unrealized gains (losses) on investments
6,515

 
2,280

 
4,235

 
(85,480
)
 
(29,918
)
 
(55,562
)
 
Activity related to investments recorded as assets held for sale
—

 
—

 
—

 
(5,006
)
 
(1,752
)
 
(3,254
)
(2)
OCI
6,331

 
2,216

 
4,115

 
(90,621
)
 
(31,717
)
 
(58,904
)
 
Balance at end of period
$
(11,413
)
 
$
(3,994
)
 
$
(7,419
)
 
$
(11,413
)
 
$
(3,994
)
 
$
(7,419
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2014
 
Nine Months Ended September 30, 2014
 
(In thousands)
Before Tax
 
Tax Effect
 
Net of Tax
 
Before Tax
 
Tax Effect
 
Net of Tax
 
Balance at beginning of period
$
70,857

 
$
19,840

 
$
51,017

 
$
57,345

 
$
19,962

 
$
37,383

 
OCI:
 
 
 
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustments
(186
)
 
—

 
(186
)
 
(186
)
 
—

 
(186
)
 
Unrealized (losses) gains on investments:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding (losses) gains arising during the period
(841
)
 
(43
)
 
(798
)
 
10,251

 
(253
)
 
10,504

 
Less: Reclassification adjustment for net losses included in net income (1) 
(540
)
 
(122
)
 
(418
)
 
(1,139
)
 
(332
)
 
(807
)
 
Net unrealized (losses) gains on investments
(301
)
 
79

 
(380
)
 
11,390

 
79

 
11,311

 
Activity related to investments recorded as assets held for sale (3) 
(1,439
)
 
(2
)
 
(1,437
)
 
382

 
(124
)
 
506

 
OCI
(1,926
)
 
77

 
(2,003
)
 
11,586

 
(45
)
 
11,631

 
Balance at end of period
$
68,931

 
$
19,917

 
$
49,014

 
$
68,931

 
$
19,917

 
$
49,014

 
_________________________
(1)
Included in net gains on investments and other financial instruments on our condensed consolidated statements of operations.
(2)
For the nine months ended September 30, 2015, this amount represents the recognition of investment gains included in income from discontinued operations, net of tax, as a result of the completion of the sale of Radian Asset Assurance on April 1, 2015. Previously, pursuant to accounting standards, such investment gains had been deferred and recorded in AOCI.
(3)
Represents the unrealized holding gains (losses) arising during the period on investments recorded as assets held for sale, net of reclassification adjustments for net gains (losses) included in net income from discontinued operations.