Ambac Financial Group, Inc. (AMBC) financial statements (2022 and earlier)

Company profile

Business Address ONE WORLD TRADE CENTER
NEW YORK, NY 10007
State of Incorp. DE
Fiscal Year End December 31
SIC 6351 - Surety Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments43120677493   
Cash and cash equivalents17202463   
Short-term investments414 653430   
Receivables  1147   
Total current assets:43120688540   
Noncurrent Assets
Operating lease, right-of-use asset232525
Long-term investments and receivables 514640353025
Long-term investments 514640353025
Intangible assets, net (including goodwill)408409427719   
Goodwill46      
Intangible assets, net (excluding goodwill)362409427719   
Total noncurrent assets:431485498759353025
Other undisclosed assets11,44112,71512,13413,289   
TOTAL ASSETS:12,30313,22013,32014,589353025
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 6     
Taxes payable 6     
Total current liabilities: 6     
Noncurrent Liabilities
Liabilities, other than long-term debt 2432    
Deferred income tax liabilities 2432
Total noncurrent liabilities: 2432    
Other undisclosed liabilities11,18712,04411,75112,956   
Total liabilities:11,18712,07411,78312,956   
Temporary equity, carrying amount18      
Stockholders' equity
Stockholders' equity attributable to parent, including:1,0381,0801,4771,592   
Common stock   0   
Treasury stock, value(3)(1) (0)   
Additional paid in capital257242232219   
Accumulated other comprehensive income (loss)587942(49)   
Retained earnings7267591,2031,421   
Other undisclosed stockholders' equity attributable to parent 1     
Stockholders' equity attributable to noncontrolling interest60606041   
Other undisclosed stockholders' equity  (1)    
Total stockholders' equity:1,0981,1401,5361,633   
Other undisclosed liabilities and equity 61    
TOTAL LIABILITIES AND EQUITY:12,30313,22013,32014,589   

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues282156496511   
Net investment income139122227273   
Realized investment gains72281112   
Other income2731345   
Cost of revenue
(Policyholder Benefits and Claims Incurred, Net)
(5)  (2)   
Gross profit:277156496509   
Operating expenses(200)(164)(417)(235)(2)9937
Operating income (loss):77(8)79274(2)9937
Nonoperating income (expense)(13)(7)6(14) (39) 
Investment income, nonoperating(6)(6)(6)(7)   
Foreign currency transaction gain (loss), before tax(7)(1)12(7) (39) 
Interest and debt expense(187)(222)(269)(242)   
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes125(203)1255   
Income (loss) from continuing operations before income taxes:2(440)(183)273(2)9547
Income tax expense (benefit)(18)3(32)(5)   
Income (loss) before gain (loss) on sale of properties:(16)(437)(215)267(2)9547
Other undisclosed net loss  (1)    
Net income (loss):(16)(437)(216)267(2)9547
Other undisclosed net loss attributable to parent(1)  (82)   
Net income (loss) attributable to parent:(17)(437)(216)186(2)9547
Preferred stock dividends and other adjustments(12)      
Other undisclosed net income available to common stockholders, basic1      
Net income (loss) available to common stockholders, diluted:(28)(437)(216)186(2)9547

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(16)(437)(216)267(2)9547
Other comprehensive income (loss)(21)37916   
Other undisclosed comprehensive loss(1)      
Comprehensive income (loss):(38)(400)(125)274(2)9547
Comprehensive income, net of tax, attributable to noncontrolling interest1      
Other undisclosed comprehensive loss, net of tax, attributable to parent(1)  (82)   
Comprehensive income (loss), net of tax, attributable to parent:(38)(400)(125)192(2)9547

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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