Ambac financial group inc (AMBC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income attributable to common shareholders

-280,000

-110,486

66,116

-128,630

-43,000

-20,172

-103,845

4,313

305,704

58,647

9,415

-

-

282,695

214,711

453,584

82,450

-207,905

155,942

68,563

230,975

205,681

282,299

143,576

157,544

-811,118

253,320

-963,213

-75,507

-102,432

-819,279

Net Income (Loss) Attributable to Noncontrolling Interest

-

-

-

-

-

-

-

-

-

-292

0

-

-

-517

160

-133

-21

-328

107

-50

32

-399

-47

-275

-171

-2,232

2

15

-2

14

33

Net income (loss)

-280,000

-110,486

66,116

-128,630

-43,000

-20,858

-22,159

4,313

305,704

58,355

9,415

-

-

282,178

214,871

453,451

82,429

-208,233

156,049

68,513

231,007

205,282

282,252

143,301

157,373

-813,350

253,322

-963,198

-75,509

-102,418

-819,246

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization

0

-356

70

286

0

469

168

182

181

332

303

-

-

698

791

1,359

742

733

748

737

742

501

727

772

748

726

820

809

738

1,406

780

Amortization of bond premium and discount

4,000

3,709

4,196

43,095

12,000

16,582

17,816

25,175

77,427

30,017

26,336

-

-

33,001

31,477

28,751

-13,960

36,452

27,940

19,642

11,816

3,240

42,421

25,542

42,258

57,060

64,542

52,002

47,979

50,894

35,439

Reorganization items

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2

186

23

65

4

424

2,059

2,735

1,252

767

2,461

10,067

8,519

6,470

24,805

Share-based compensation

3,000

2,301

2,334

3,365

4,000

1,525

1,710

4,153

4,612

1,695

1,082

-

-

881

393

490

573

850

1,537

1,106

0

0

-

-

-

-

-

0

0

-15,567

108

Deferred income taxes

6,000

-4,292

2,483

-191

1,000

-13,121

5,241

2,025

-1,145

47

446

-

-

-50

174

97

138

-112

-3

-588

-47

16

46

-

-

-

-

-

-

-

-

Current income taxes

-5,000

7,151

-5,151

29,000

4,000

-14,023

2,587

-15,125

-8,439

1,486

-2,463

-

-

-663

-3,368

4,916

2,273

-5,249

3,023

4,327

635

186

496

-601

627

743

300

-2,823

75,097

-1,449

2,350

Deferred acquisition costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-6,854

-6,658

-6,089

-7,094

-4,509

-1,919

-12,796

-9,521

-2,903

Unearned premiums, net

-7,000

-13,965

-49,813

-32,222

-36,000

-55,886

-49,804

-38,981

-18,329

-38,530

-77,230

-

-

-49,905

-84,582

-275,287

-110,238

-89,450

-84,667

-41,400

-62,091

-102,460

-147,095

-194,494

-145,836

-148,088

-146,928

-55,496

115,717

-395,802

-171,593

Losses and loss expenses, net

-77,000

-96,585

72,271

269,314

119,000

73,961

123,997

63,202

1,371,840

-56,659

-800,946

-

-

102,547

197,332

1,709,831

-189,672

-16,563

146,494

-71,868

123,943

34,763

-78,527

-137,961

647,904

-781,032

9,785

2,840,332

55,992

-187,936

-921,429

Ceded premiums payable

-1,000

-1,037

-845

-1,118

-1,000

-1,430

-1,288

-857

-1,425

-1,611

-6,156

-

-

-1,266

-1,168

-668

-3,636

-5,152

-1,070

-604

-3,407

-3,033

-2,442

438

-4,190

-1,364

-15,912

-5,288

-1,044

-12,361

-7,202

Investment income due and accrued

-

-

-

-

-

-

-

-

-

-304

122

-

-

285

-21

-7,803

-1,700

-123

-3,022

3,548

-1,603

-2,243

-5,798

2,560

-5,469

2,820

-5,497

4,320

-4,554

5,847

-5,351

Premium receivables

-13,000

4,373

-27,463

-45,910

-8,000

-21,173

-37,395

-26,831

-5,601

-13,264

-49,497

-

-

-15,075

-48,608

-266,025

-89,730

-61,752

-34,907

17,011

-28,888

-66,733

-77,523

-135,209

-74,044

-87,662

-110,943

-74,714

178,268

-365,995

-131,676

Accrued interest payable

23,000

22,153

22,451

13,396

29,000

31,935

66,698

-26,507

-63,126

8,429

16,152

-

-

16,598

18,269

-72,634

36,798

22,923

22,235

20,592

21,943

15,511

17,543

18,727

17,124

26,741

26,684

29,007

26,711

28,064

24,679

Amortization of insurance intangible assets

13,000

15,059

17,421

226,520

36,000

28,701

26,421

23,242

28,636

39,013

50,890

-

-

38,088

37,432

41,952

41,908

36,256

31,714

37,233

37,473

24,952

-

-

-

-

-

-

-

-

-

Unrealized Gain (Loss) on Derivatives

-2,000

-37

439

598

0

-391

151

-308

-452

3,722

12,614

-

-

9,886

-2,918

9,372

6,820

-1,936

6,607

108,331

29,614

45,146

10,278

-26,464

24,496

-10,488

-10,476

24,518

676

20,063

-14,226

Net realized investment gains

8,000

9,436

18,471

36,093

17,000

29,789

30,201

47,148

4,862

14,897

1,102

-

-

-5,353

54,101

29,376

10,045

3,067

16,289

-3,695

-10,310

18,472

46,060

1,480

3,162

67,067

392

12,341

5,084

-2,528

2,450

Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Net of Tax, Portion Attributable to Parent, Available-for-sale Securities

-

-

-

-

-

1,421

266

1,014

299

7,441

9,334

-

-

1,020

3,119

1,637

5,011

8,754

10,392

6,725

38,037

2,002

-

11,743

-11,152

2,328

3,071

94,021

-49,469

17,578

1,713

(Gain) loss on extinguishment of debt

-

-

-

-

-

-121

0

6

3,115

3,586

1,235

-

-

-1,246

-93

-74,724

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of cash flow information
Income Taxes Paid

-

-

-

-

-

-

-

-

-

1,185

6,477

-

-

4,752

4,933

1,154

79

3,167

0

1,320

0

336

229

-

-

-

-

0

0

1,991

0

Interest Paid, Including Capitalized Interest, Operating and Investing Activities

-

-

-

-

-

-

-

-

-

681

1,372

-

-

0

0

-

-

-

-

-

73

90

218

311

334

498

429

-

-

-

-

Interest on investment agreements

-

-

-

-

-

-

-

-

-

153

146

-

-

71

88

59

93

164

202

192

437

203

1,724

902

1,792

1,498

3,072

825

3,269

706

3,656

Cash payments related to reorganization items:
Variable interest entity activities

3,000

7,541

11,244

3,215

16,000

18

1,831

577

574

8,987

-27,163

-

-

52,603

6,962

2,362

9,116

-38,148

-5,542

-108,330

55,109

4,598

38,326

884

6,137

5,536

15,220

-265,604

55,008

2,353

-6,125

Increase (Decrease) in Derivative Assets and Liabilities

-32,000

5,958

-5,722

12,764

-12,000

16,962

-82

558

-438

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-63,000

7,415

8,076

-38,491

-57,000

-5,595

-10,806

-40,092

-10,507

42,952

9,398

-

-

78,272

-58,229

-46,143

-21,157

-33,149

-52,397

30,591

40,016

66,543

-49,273

-65,948

-169,874

-14,608

144,524

224,726

-155,876

-115,123

17,400

Net cash used in operating activities

-87,000

-14,769

-31,370

-169,861

-95,000

-125,057

-106,355

-120,026

-1,191,562

42,629

827,680

-

-

32,759

5,580

-1,229,878

86,100

133,744

38,525

102,652

44,693

39,563

77,330

-208,298

-441,029

-4,921

40,350

-195,341

-8,665

124,748

82,815

Cash flows from investing activities:
Proceeds from sales of bonds

221,000

160,010

362,764

48,226

641,000

156,484

468,021

327,417

296,078

169,013

136,087

-

-

217,642

487,462

1,398,722

733,421

717,166

276,555

320,335

279,568

343,040

120,603

158,662

6,729

392,257

35,024

284,599

110,161

147,227

93,191

Proceeds from matured bonds

49,000

62,182

42,559

239,259

35,000

139,605

78,329

110,071

103,995

287,655

297,619

-

-

169,915

299,715

505,968

400,837

265,809

230,290

151,909

279,132

182,304

255,664

178,791

408,870

313,674

208,133

162,763

150,501

159,862

202,806

Purchases of bonds

150,000

92,913

439,360

243,727

183,000

179,318

184,765

86,448

77,469

413,468

1,002,328

-

-

466,291

919,361

390,055

1,224,629

697,591

625,507

812,569

653,633

746,914

243,006

197,512

152,537

266,683

182,008

295,398

491,698

258,757

205,418

Proceeds from sales of other invested assets

243,000

8,442

24,083

46,475

2,000

47,476

60,122

20,075

31,327

32,442

2,991

-

-

60,148

36,543

9,566

0

3,279

36,894

30,618

58,221

1,228

-

-

-

-

-

-

-

-

-

Purchases of other invested assets

195,000

2,052

17,562

88,386

29,000

46,200

74,938

7,104

11,758

130,098

15,690

-

-

71,520

10,176

79,160

21,240

12,917

20,611

9,749

47,641

79,596

113,712

-

-

-

-

-

-

-

-

Change in short-term investments

-67,000

-17,486

-106,605

-135,909

478,000

-131,548

169,408

71,402

-236,262

-100,538

210,971

-

-

-23,910

-139,085

-190,835

206,713

129,084

-56,016

-278,110

-61,948

-115,437

106,274

-51,809

-296,592

116,237

110,751

-41,055

-242,227

-8,843

83,629

Loans, net

-

-

-

-

-

-

-

-

-

-494

-97

-

-

180

-220

-353

-282

99

71

31

-904

-230

-512

-1,177

227

-9,090

247

-1,039

-236

-126

230

Change in cash collateral receivable

-56,000

24,982

10,063

7,955

57,000

-68,953

10,172

1,760

-979

-61,178

-29,788

-

-

56,949

-37,239

-52,886

-14,738

-55,206

-35,410

-13,929

0

10,889

1,740

6,218

11,026

-14,655

41,046

5,563

1,317

-52,156

-104

Proceeds From Financial Guaranty Variable Interest Entity Assets

66,000

31,069

389,846

55,085

67,000

161,740

49,277

58,066

79,917

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

1,000

1,640

139

221

0

2,742

2,801

-5,920

377

1,672

-8,025

-

-

2,256

-779

-8,524

-1,245

-7,660

2,352

-4,346

6,345

-4,678

-20,508

-22,468

55,386

7,428

-85

1,500

-1,254

-3,359

-787

Net cash provided by investing activities

244,000

208,566

478,859

200,575

112,000

338,640

234,009

358,355

656,996

-16,274

-813,958

-

-

-11,683

-2,972

1,591,867

-331,535

99,017

-84,196

-50,960

-27,846

-168,704

-63,965

221,613

515,067

310,018

-8,718

198,121

13,998

8,504

7,403

Cash flows from financing activities:
Proceeds From Issuance of Tier II Notes

-

-

-

-

-

0

0

0

240,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Paydown of Ambac Note

77,000

149,270

6,816

8,914

13,000

28,262

72,281

113,457

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Paydowns of a secured borrowing

-

-

-

-

-

7

0

65,196

8,797

4,759

8,871

-

-

0

0

-

-

-

-

1,503

4,256

3,310

4,067

5,880

4,496

3,356

7,280

-

-

-

-

Paydown of Financial Guaranty Variable Interest Entity Liabilities

66,000

31,772

418,186

29,042

63,000

161,740

49,276

58,067

79,917

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of investment and repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

93

4

2

24

Payments From Drawdowns Of Borrowings Under Guaranteed Investment Agreements

-

-

-

-

-

-

-

-

-

17,989

0

-

-

0

49,872

0

9,970

190,000

0

-

-

-

-

53,663

28,489

104,214

420

43,790

1,400

123,501

89,673

Payments for extinguishment of surplus notes

-

-

-

-

-

-258

0

0

191,258

8,097

11,453

-

-

13,752

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Debt Issuance Costs

-

-

-

-

-

-221

0

0

9,221

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

AMPS Proceeds

0

182

0

15,818

3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Warrant Exercises

-

-

-

-

-

-

-

-

-

2

0

-

-

0

2

1

14

0

1

0

1

15

-

-

-

-

-

-

-

-

-

Payment, Tax Withholding, Share-based Payment Arrangement

3,000

390

412

198

2,000

-116

0

91

1,025

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash collateral received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,440

Net cash used in financing activities

-146,000

-180,430

-425,414

-9,156

-76,000

-183,083

-119,462

-232,237

-50,218

-32,453

-20,324

-

-

-13,752

-49,870

-331,418

214,306

-190,000

1

-2,873

-8,811

-3,295

-4,067

-59,543

-32,985

-296,016

-7,700

-8,097

-1,396

-123,499

-92,089

Effect of Exchange Rate on Cash and Cash Equivalents

0

446

-409

-37

0

652

-113

-261

-278

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash flow

10,000

13,813

21,666

20,521

-58,000

30,152

8,079

5,831

-585,062

-6,098

-6,602

-

-

7,324

-47,262

30,571

-31,129

42,761

-45,670

48,819

8,036

-132,436

9,298

-46,228

41,053

9,081

23,932

-5,317

3,937

9,753

-1,871

Professional fees paid for services rendered in connection with the Chapter 11 proceeding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5

186

81

68

14,683

795

3,246

1,479

706

5,315

1,641

12,847

6,681

6,268

5,457