Ambac Financial Group, Inc. (AMBC) Financial Statements (2024 and earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments538,000431,00020,000677,000493,420 
Cash and cash equivalents31,00017,00020,00024,00063,089 
Short-term investments507,000414,000 653,000430,331 
Receivables    11,00047,040 
Total current assets:538,000431,00020,000688,000540,460 
Noncurrent Assets
Operating lease, right-of-use asset 21,00023,00025,00025,000
Long-term investments and receivables   51,00046,00040,16834,941
Long-term investments   51,00046,00040,16834,941
Intangible assets, net (including goodwill)387,000408,000409,000427,000718,931 
Goodwill61,00046,000    
Intangible assets, net (excluding goodwill)326,000362,000409,000427,000718,931 
Total noncurrent assets:408,000431,000485,000498,000759,09934,941
Other undisclosed assets7,027,00011,441,00012,715,00012,134,00013,289,152 
TOTAL ASSETS:7,973,00012,303,00013,220,00013,320,00014,588,71134,941
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   6,000   
Taxes payable 6,000   
Total current liabilities:   6,000   
Noncurrent Liabilities
Liabilities, other than long-term debt   24,00032,000  
Deferred income tax liabilities   24,00032,000
Total noncurrent liabilities:   24,00032,000  
Other undisclosed liabilities6,647,00011,187,00012,044,00011,751,00012,955,564 
Total liabilities:6,647,00011,187,00012,074,00011,783,00012,955,564 
Temporary equity, carrying amount20,00018,000    
Equity
Equity, attributable to parent, including:1,252,0001,038,0001,080,0001,477,0001,591,997 
Common stock     454 
Treasury stock, value(15,000)(3,000)(1,000) (473) 
Additional paid in capital274,000257,000242,000232,000219,429 
Accumulated other comprehensive income (loss)(253,000)58,00079,00042,000(48,715) 
Retained earnings1,245,000726,000759,0001,203,0001,421,302 
Other undisclosed equity, attributable to parent1,000 1,000   
Equity, attributable to noncontrolling interest53,00060,00060,00060,00041,150 
Other undisclosed equity    (1,000)  
Total equity:1,305,0001,098,0001,140,0001,536,0001,633,147 
Other undisclosed liabilities and equity 1,000 6,0001,000  
TOTAL LIABILITIES AND EQUITY:7,973,00012,303,00013,220,00013,320,00014,588,711 

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues505,000282,000156,000496,000510,661 
Net investment income17,000139,000122,000227,000272,717 
Realized investment gains (losses)31,0007,00022,00081,000111,624 
Other income 10,00027,0003,000134,0004,922 
Cost of revenue (5,000)  (1,657) 
Policyholder benefits and claims incurred, net (5,000)  (1,657)
Gross profit:505,000277,000156,000496,000509,004 
Operating expenses(139,000)(200,000)(164,000)(417,000)(235,258)(1,565)
Operating income (loss):366,00077,000(8,000)79,000273,746(1,565)
Nonoperating income (expense)5,000(13,000)(7,000)6,000(13,754) 
Investment income, nonoperating(6,000)(6,000)(6,000)(6,000)(6,599) 
Gain (loss), foreign currency transaction, before tax11,000(7,000)(1,000)12,000(7,155) 
Interest and debt expense(168,000)(187,000)(222,000)(269,000)(242,256) 
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes322,000125,000(203,000)1,000254,797 
Income (loss) from continuing operations before equity method investments, income taxes:525,0002,000(440,000)(183,000)272,533(1,565)
Other undisclosed income from continuing operations before income taxes      
Income (loss) from continuing operations before income taxes:525,0002,000(440,000)(183,000)272,533(1,565)
Income tax expense (benefit)(2,000)(18,000)3,000(32,000)(5,134) 
Income (loss) from continuing operations:523,000(16,000)(437,000)(215,000)267,399(1,565)
Income (loss) before gain (loss) on sale of properties:(16,000)(437,000)(215,000)267,399(1,565)
Other undisclosed net loss(1,000)  (1,000)  
Net income (loss):522,000(16,000)(437,000)(216,000)267,399(1,565)
Other undisclosed net income (loss) attributable to parent (1,000)  (81,686) 
Net income (loss) attributable to parent:522,000(17,000)(437,000)(216,000)185,713(1,565)
Preferred stock dividends and other adjustments 3,000(12,000)    
Other undisclosed net income available to common stockholders, basic 1,000    
Net income (loss) available to common stockholders, diluted:525,000(28,000)(437,000)(216,000)185,713(1,565)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):522,000(16,000)(437,000)(216,000)267,399(1,565)
Other comprehensive income (loss)(310,000)(21,000)37,00091,0006,424 
Other undisclosed comprehensive income (loss) (1,000)    
Comprehensive income (loss):212,000(38,000)(400,000)(125,000)273,823(1,565)
Comprehensive income, net of tax, attributable to noncontrolling interest1,0001,000    
Other undisclosed comprehensive loss, net of tax, attributable to parent(1,000)(1,000)  (81,686) 
Comprehensive income (loss), net of tax, attributable to parent:212,000(38,000)(400,000)(125,000)192,137(1,565)

Statements Sources

The financial statements are based on the Company's filings with 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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