Schedule of Segment Reporting Information, by Segment [Table Text Block] |
Summarized operating results for our segments as of and for the periods indicated, are as follows: | | | | | | | | | | | | | | | December 31, 2015 | | (In thousands) | Mortgage Insurance | | Services | | Total | | Net premiums written—insurance | $ | 968,505 |
| | $ | — |
| | $ | 968,505 |
| | Increase in unearned premiums | (52,597 | ) | | — |
| | (52,597 | ) | | Net premiums earned—insurance | 915,908 |
| | — |
| | 915,908 |
| | Services revenue | — |
| | 157,416 |
| | 157,416 |
| | Net investment income | 81,537 |
| | — |
| | 81,537 |
| | Other income | 6,300 |
| | — |
| | 6,300 |
| | Total | 1,003,745 |
| | 157,416 |
| (1) | 1,161,161 |
| (2) | | | | | | | | Provision for losses | 198,433 |
| | — |
| | 198,433 |
| | Policy acquisition costs | 22,424 |
| | — |
| | 22,424 |
| | Direct cost of services | — |
| | 93,504 |
| | 93,504 |
| | Other operating expenses before corporate allocations | 149,941 |
| | 43,622 |
| | 193,563 |
| | Total | 370,798 |
| (1) | 137,126 |
| | 507,924 |
| | Adjusted pretax operating income before corporate allocations | 632,947 |
| | 20,290 |
| | 653,237 |
| | Allocation of corporate operating expenses | 46,418 |
| | 4,823 |
| | 51,241 |
| | Allocation of interest expense | 73,402 |
| | 17,700 |
| | 91,102 |
| | Adjusted pretax operating income (loss) | $ | 513,127 |
| | $ | (2,233 | ) | | $ | 510,894 |
| | | | | | | | | Total assets | $ | 5,281,597 |
| | $ | 360,503 |
| | $ | 5,642,100 |
| | | | | | | | | NIW (in millions) | $ | 41,411 |
| | | | | |
________________ | | (1) | Includes inter-segment expenses and revenues as follows: |
| | | | | | | | | | December 31, 2015 | (In thousands) | Mortgage Insurance | | Services | Inter-segment revenues | $ | — |
| | $ | 3,601 |
| Inter-segment expenses | 3,601 |
| | — |
|
| | (2) | Excludes net gains on investments and other financial instruments of $35.7 million, not included in adjusted pretax operating income. |
| | | | | | | | | | | | | | | December 31, 2014 | | (In thousands) | Mortgage Insurance | | Services (1) | | Total | | Net premiums written—insurance | $ | 925,181 |
| | $ | — |
| | $ | 925,181 |
| | Increase in unearned premiums | (80,653 | ) | | — |
| | (80,653 | ) | | Net premiums earned—insurance | 844,528 |
| | — |
| | 844,528 |
| | Services revenue | — |
| | 76,709 |
| | 76,709 |
| | Net investment income | 65,655 |
| | — |
| | 65,655 |
| | Other income | 5,321 |
| | 1,265 |
| | 6,586 |
| | Total | 915,504 |
| | 77,974 |
| (2) | 993,478 |
| (3) | | | | | | | | Provision for losses | 246,865 |
| | — |
| | 246,865 |
| | Change in expected economic loss or recovery for consolidated VIEs | 113 |
| | — |
| | 113 |
| | Policy acquisition costs | 24,446 |
| | — |
| | 24,446 |
| | Direct cost of services | — |
| | 43,605 |
| | 43,605 |
| | Other operating expenses before corporate allocations | 170,390 |
| | 18,915 |
| | 189,305 |
| | Total | 441,814 |
| (2) | 62,520 |
| | 504,334 |
| | Adjusted pretax operating income before corporate allocations | 473,690 |
| | 15,454 |
| | 489,144 |
| | Allocation of corporate operating expenses | 55,154 |
| | 1,144 |
| | 56,298 |
| | Allocation of interest expense | 81,600 |
| | 8,864 |
| | 90,464 |
| | Adjusted pretax operating income | $ | 336,936 |
| | $ | 5,446 |
| | $ | 342,382 |
| | | | | | | | | Assets held for sale (4) | $ | — |
| | $ | — |
| | $ | 1,736,444 |
| | Total assets | 4,769,014 |
| | 336,878 |
| | 6,842,336 |
| | | | | | | | | NIW (in millions) | $ | 37,349 |
| | | | | |
________________ | | (1) | Includes the acquisition of Clayton, effective June 30, 2014. |
| | (2) | Includes inter-segment expenses and revenues as follows: |
| | | | | | | | | | December 31, 2014 | (In thousands) | Mortgage Insurance | | Services | Inter-segment revenues | $ | — |
| | $ | 782 |
| Inter-segment expenses | 782 |
| | — |
|
| | (3) | Excludes net gains on investments and other financial instruments of $80.0 million, not included in adjusted pretax operating income. |
| | (4) | Assets held for sale are not part of the Mortgage Insurance or Services segments. |
| | | | | | December 31, 2013 | | Mortgage Insurance | (In thousands) | | Net premiums written—insurance | $ | 950,998 |
| Increase in unearned premiums | (169,578 | ) | Net premiums earned—insurance | 781,420 |
| Net investment income | 68,121 |
| Other income | 6,255 |
| Total (1) | 855,796 |
| | | Provision for losses | 562,747 |
| Change in expected economic loss or recovery for consolidated VIEs | (21 | ) | Policy acquisition costs | 28,485 |
| Other operating expenses before corporate allocations | 160,327 |
| Total | 751,538 |
| Adjusted pretax operating income before corporate allocations | 104,258 |
| Allocation of corporate operating expenses | 97,075 |
| Allocation of interest expense | 74,618 |
| Adjusted pretax operating loss | $ | (67,435 | ) | | | Total assets (2) | $ | 3,837,889 |
| | | NIW (in millions) | $ | 47,255 |
|
________________ | | (1) | Excludes the following revenue items not included in adjusted pretax operating loss: (i) net losses on investments and other financial instruments of $106.5 million; (ii) change in fair value of derivative instruments of $0.6 million. |
| | (2) | Does not include assets held for sale of $1.8 billion which are not a part of the Mortgage Insurance segmen |
|
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] |
The reconciliation of adjusted pretax operating income (loss) to consolidated pretax income (loss) from continuing operations is as follows: | | | | | | | | | | | | | | December 31, | (In thousands) | 2015 | | 2014 | | 2013 | Adjusted pretax operating income (loss): | | | | | | Mortgage insurance (1) | $ | 513,127 |
| | $ | 336,936 |
| | $ | (67,435 | ) | Services (1) | (2,233 | ) | | 5,446 |
| | — |
| Total adjusted pretax operating income (loss) | $ | 510,894 |
| | $ | 342,382 |
| | $ | (67,435 | ) | | | | | | | Net gains (losses) on investments and other financial instruments (2) | 35,693 |
| | 80,102 |
| | (105,911 | ) | Loss on induced conversion and debt extinguishment | (94,207 | ) | | — |
| | — |
| Acquisition-related expenses | (1,565 | ) | | (6,680 | ) | | — |
| Amortization and impairment of intangible assets | (12,986 | ) | | (8,648 | ) | | — |
| Consolidated pretax income (loss) from continuing operations | $ | 437,829 |
| | $ | 407,156 |
| | $ | (173,346 | ) |
________________ | | (1) | Includes inter-segment expenses and revenues as listed in the notes to the preceding tables. |
| | (2) | The change in expected economic loss or recovery associated with our previously owned VIEs is included in adjusted pretax operating income above, although it represents amounts that are not included in net income. Therefore, for purposes of this reconciliation, net gains (losses) on investments and other financial instruments has been adjusted by income of $0.1 million and $0.6 million for the years ended December 31, 2014 and 2013, respectively, to reverse this item. |
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