2018 Q4 Form 10-Q Financial Statement

#000089092618000065 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $42.05M $330.7M $39.70M
YoY Change 5.91% 5.97% -20.44%
Cost Of Revenue $24.94M $25.85M $23.35M
YoY Change 6.81% -5.09% -30.94%
Gross Profit $17.11M $304.8M $16.35M
YoY Change 4.63% 7.03% 1.62%
Gross Profit Margin 40.69% 92.18% 41.19%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.485M $2.100M $5.871M
YoY Change 10.46% 10.53% 5.23%
% of Gross Profit 37.9% 0.69% 35.9%
Operating Expenses $139.3M $146.0M $133.1M
YoY Change 4.66% -30.22% -16.5%
Operating Profit -$122.2M $158.8M -$116.7M
YoY Change 4.66% 110.17% -18.53%
Interest Expense -$15.60M $15.54M -$14.90M
YoY Change 4.7% -1.15% -13.87%
% of Operating Profit 9.78%
Other Income/Expense, Net
YoY Change
Pretax Income $176.5M $184.7M $164.7M
YoY Change 7.16% 79.63% 68.4%
Income Tax $36.70M $41.89M $55.30M
% Of Pretax Income 20.79% 22.68% 33.58%
Net Earnings $139.8M $142.8M $6.816M
YoY Change 1950.75% 119.21% -88.84%
Net Earnings / Revenue 332.4% 43.18% 17.17%
Basic Earnings Per Share $0.67
Diluted Earnings Per Share $0.64 $0.66 $0.03
COMMON SHARES
Basic Shares Outstanding 213.3M shares 213.3M shares 215.6M shares
Diluted Shares Outstanding 217.9M shares 217.9M shares 220.3M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $95.39M $104.4M $80.57M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $78.70M $108.0M $72.60M
YoY Change 8.4% 11.34% -6.44%
LONG-TERM ASSETS
Property, Plant & Equipment $37.09M $38.06M $38.29M
YoY Change -3.14% -56.81% -45.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.153B $5.028B $4.644B
YoY Change 10.96% 10.59% 4.07%
Other Assets $143.3M $144.1M $245.2M
YoY Change -41.56% -63.34% -41.83%
Total Long-Term Assets $6.236B $6.161B $5.828B
YoY Change 6.99% 7.21% 0.74%
TOTAL ASSETS
Total Short-Term Assets $78.70M $108.0M $72.60M
Total Long-Term Assets $6.236B $6.161B $5.828B
Total Assets $6.315B $6.269B $5.901B
YoY Change 7.01% 7.28% 0.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.30M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $1.113B $1.101B $1.027B
YoY Change 8.35% 7.22% -3.96%
Other Long-Term Liabilities $251.1M $296.7M $353.8M
YoY Change -29.03% -17.77% 9.91%
Total Long-Term Liabilities $1.364B $1.398B $1.381B
YoY Change -1.22% 0.72% -0.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.30M
Total Long-Term Liabilities $1.364B $1.398B $1.381B
Total Liabilities $2.826B $2.922B $2.901B
YoY Change -2.58% 2.32% -3.01%
SHAREHOLDERS EQUITY
Retained Earnings $1.720B $1.580B $1.116B
YoY Change 54.03% 42.36% 11.87%
Common Stock $2.725B $2.721B $2.755B
YoY Change -1.07% -0.97% -0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost) $894.9M $894.6M $893.9M
YoY Change 0.11% 0.1% 0.06%
Treasury Stock Shares 17.66M shares 17.64M shares 17.60M shares
Shareholders Equity $3.489B $3.347B $3.000B
YoY Change
Total Liabilities & Shareholders Equity $6.315B $6.269B $5.901B
YoY Change 7.01% 7.28% 0.64%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $139.8M $142.8M $6.816M
YoY Change 1950.75% 119.21% -88.84%
Depreciation, Depletion And Amortization $6.485M $2.100M $5.871M
YoY Change 10.46% 10.53% 5.23%
Cash From Operating Activities $185.9M $191.1M $142.2M
YoY Change 30.73% 1492.5% 50.8%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$8.000M -$3.500M
YoY Change 62.86% -32.2% -51.39%
Acquisitions
YoY Change
Other Investing Activities -$177.3M -$121.7M -$122.7M
YoY Change 44.5% 815.04% 50.18%
Cash From Investing Activities -$183.0M -$129.7M -$126.3M
YoY Change 44.89% 418.8% 41.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.20M -51.80M -18.80M
YoY Change -45.74% -276.19% 18700.0%
NET CHANGE
Cash From Operating Activities 185.9M 191.1M 142.2M
Cash From Investing Activities -183.0M -129.7M -126.3M
Cash From Financing Activities -10.20M -51.80M -18.80M
Net Change In Cash -7.300M 9.600M -2.900M
YoY Change 151.72% -41.46% -155.77%
FREE CASH FLOW
Cash From Operating Activities $185.9M $191.1M $142.2M
Capital Expenditures -$5.700M -$8.000M -$3.500M
Free Cash Flow $191.6M $199.1M $145.7M
YoY Change 31.5% 736.55% 43.55%

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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-93788000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
33845000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-4044000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
111000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-8512000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-2687000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1297000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
6128000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-85276000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
36532000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
28000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
136000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1297000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6156000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-85273000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
36668000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
141500000 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
71298000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
380959000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
150940000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
491929000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
218425000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
577034000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
737054000 USD
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
35182000 USD
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
176448000 USD
us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
92702000 USD
us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
23423000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
337857000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
377219000 USD
us-gaap Proceeds From Maturities Repayments And Calls Of Trading Securities Heldforinvestment
ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment
53437000 USD
us-gaap Proceeds From Maturities Repayments And Calls Of Trading Securities Heldforinvestment
ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment
70161000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1307335000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1491083000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
59625000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
195297000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
216778000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-251509000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
2111000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
596000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20323000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25173000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
662000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
86000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-506400000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75229000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1606000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1614000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
0 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
443250000 USD
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
0 USD
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-591918000 USD
us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
0 USD
us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
4109000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1128000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3283000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50053000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6000 USD
rdn Lineof Credit Facility Paymentof Commitment Fees
LineofCreditFacilityPaymentofCommitmentFees
643000 USD
rdn Lineof Credit Facility Paymentof Commitment Fees
LineofCreditFacilityPaymentofCommitmentFees
0 USD
us-gaap Increase Decrease In Securities Lending Payable
IncreaseDecreaseInSecuritiesLendingPayable
41414000 USD
us-gaap Increase Decrease In Securities Lending Payable
IncreaseDecreaseInSecuritiesLendingPayable
36782000 USD
us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths
45458000 USD
us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths
0 USD
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
3000000 USD
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
133000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
207000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32565000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-106321000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
116000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18094000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36991000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96244000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61814000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114338000 USD
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
98805000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2018Q3 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
3600000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain prior period amounts have been reclassified to conform to current period presentation.
us-gaap Use Of Estimates
UseOfEstimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of our contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. While the amounts included in our condensed consolidated financial statements include our best estimates and assumptions, actual results may vary materially.
us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
Our Services segment revenues are recognized over time and measured each period based on the progress to date as services are performed and made available to customers. Our contracts with customers, including payment terms, are generally short-term in nature; therefore, any impact related to timing is immaterial. Revenue recognized related to services made available to customers and billed is reflected in accounts receivables. Revenue recognized related to services performed and not yet billed is recorded in unbilled receivables and reflected in other assets. We have <span style="font-family:inherit;font-size:10pt;"><span>no</span></span><span style="font-family:inherit;font-size:10pt;"> material bad-debt expense. The following represents balances related to Services contracts as of the dates indicated: </span><div style="line-height:120%;padding-top:6px;text-align:center;text-indent:30px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:84.01559454191033%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:65%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;text-decoration:underline;">(In thousands)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts Receivable - Services Contracts</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,544</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,391</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unbilled Receivables - Services Contracts</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,580</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,257</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred Revenues - Services Contracts </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,131</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,235</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue expected to be recognized in any future period related to remaining performance obligations, such as contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material.</span></div><div style="line-height:120%;padding-top:6px;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fee-for-Service Contracts</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Generally, our contracts with our clients do not include minimum volume commitments and can be terminated at any time by our clients. Although some of our contracts and assignments are recurring in nature, and include repetitive monthly assignments, a significant portion of our engagements are transactional in nature and may be performed in connection with securitizations, loan sales, loan purchases or other transactions. Due to the transactional nature of our business, our Services segment revenues may fluctuate from period to period as transactions are commenced or completed. We do not recognize revenue or expense related to amounts advanced by us and subsequently reimbursed by clients for maintenance or repairs because we do not take control of the service prior to the client taking control. We record an expense if an advance is made that is not in accordance with a client contract and the client is not obligated to reimburse us.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Due to the nature of the services provided, our Services arrangements with customers may include any of the following three basic types of contracts:</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fixed-Price Contracts. </span><span style="font-family:inherit;font-size:10pt;">We use fixed-price contracts in our real estate valuation and component services, our loan review, underwriting and due diligence services as well as our title and closing services. We also use fixed-price contracts in our surveillance business for our servicer oversight services and RMBS surveillance services, and in our asset management business activities. Under fixed-price contracts we agree to perform the specified services and deliverables for a pre-determined per-unit or per-file price or day rate. Each service qualifies as a separate performance obligation and revenue is recognized as the service performed is made available to the client.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Time-and-Expense Contracts.</span><span style="font-family:inherit;font-size:10pt;"> The Services segment also derives a portion of its revenue from professional service activities under time-and-expense contracts. In these types of contracts, we are paid a fixed hourly rate, and we are reimbursed for billable out-of-pocket expenses as work is performed. These contracts are used in our loan review, underwriting and due diligence services. Services revenue consisting of billed time fees and pass-through expenses is recorded over time and based on the progress to date as services are performed and made available to customers. Services revenue may also include expenses billed to clients, which includes travel and other out-of-pocket expenses, and other reimbursable expenses.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Percentage-of-Sale Contracts. </span><span style="font-family:inherit;font-size:10pt;">Under percentage-of-sale contracts, we are paid a contractual percentage of the sale proceeds upon the sale of each property. These contracts are only used for a portion of our REO management services and our real estate brokerage services. In addition, through the use of our proprietary technology, property leads are sent to select clients. Revenue attributable to services provided under a percentage-of-sale contract is recognized over time and measured based on the progress to date and typically coincides with the client’s successful closing on the property. The revenue recognized for these transactions is based on a percentage of the sale.</span></div>In certain instances, fees are received at the time that an asset is assigned to Radian for management. These fees are recorded as deferred revenue and are recognized over time based on progress to date and the availability to customers.
CY2018Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
19580000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
Accounting Standards Not Yet Adopted. <span style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued an update that replaces the existing accounting and disclosure requirements for leases of property, plant and equipment. The update requires lessees to recognize, as of the lease commencement date, assets and liabilities for all leases with lease terms of more than 12 months, which is a change from the current GAAP requirement to recognize only capital leases on the balance sheet. Pursuant to the new standard, the liability initially recognized for the lease obligation is equal to the present value of the lease payments not yet made, discounted over the lease term at the implicit interest rate of the lease, if available, or otherwise at the lessee’s incremental borrowing rate. The lessee is also required to recognize an asset for its right to use the underlying asset for the lease term, based on the liability subject to certain adjustments, such as for initial direct costs. Leases are required to be classified as either operating or finance, with expense on operating leases recorded as a single lease cost on a straight-line basis. For finance leases, interest expense on the lease liability is required to be recognized separately from the straight-line amortization of the right-of-use asset. Quantitative disclosures are required for certain items, including the cost of leases, the weighted-average remaining lease term, the weighted-average discount rate and a maturity analysis of lease liabilities. Additional qualitative disclosures are also required regarding the nature of the leases, such as basis, terms and conditions of: (i) variable interest payments; (ii) extension and termination options; and (iii) residual value guarantees. This update, and the clarifying update issued in July 2018, is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted by applying the new guidance as of the beginning of the earliest comparative period presented, using a modified retrospective transition approach with certain optional practical expedients. We are currently in the process of identifying our current leases that are subject to the scope of this standard and evaluating the impact on our financial statements and future disclosures as a result of this update. We expect to recognize right-of-use assets and related obligations upon adoption of this update. In July 2018 the FASB issued a further update containing certain targeted improvements to the accounting and disclosure requirements for leases, including an additional (and optional) transition method to recognize the cumulative-effect adjustment as of the beginning of the period of adoption, rather than recognizing the cumulative-effect adjustment as of the beginning of the earliest comparative period presented. We expect to elect the optional transition method to recognize the cumulative-effect adjustment as of the beginning of the period of adoption. In addition, we expect to elect the practical expedients for transitioning existing leases to the new standard as of the effective</span><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> date. As a result of applying the practical expedients: (i) we are not required to reassess expired or existing contracts to determine if they contain additional leases; (ii) we are not required to reassess the lease classification for expired and existing leases; and (iii) we are not required to reassess initial direct costs for existing leases. We are currently evaluating the impact of adoption of these updates on our financial statements and future disclosures. See Note 13 of Notes to Consolidated Financial Statements in our 2017 Form 10-K for additional information about our leases.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued an update to the accounting standard regarding the measurement of credit losses on financial instruments. This update requires that financial assets measured at their amortized cost basis be presented at the net amount expected to be collected. Credit losses relating to available-for-sale debt securities are to be recorded through an allowance for credit losses, rather than a write-down of the asset, with the amount of the allowance limited to the amount by which fair value is less than amortized cost. This update is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. This update is not applicable to credit losses associated with our mortgage insurance policies. We are currently evaluating the impact on our financial statements and future disclosures as a result of this update. </span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2017, the FASB issued an update to the accounting standard regarding receivables. The new standard requires certain premiums on purchased callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted. The provisions of this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of this update to have a material effect on our financial statements and disclosures.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued an update to the accounting standard regarding the accounting for long-duration insurance contracts. The new standard: (i) requires that assumptions used to measure the liability for future policy benefits be reviewed at least annually; (ii) defines and simplifies the measurement of market risk benefits; (iii) simplifies the amortization of deferred acquisition costs; and (iv) enhances the required disclosures about long-duration contracts. This update is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the potential impact of the adoption of this update.</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued an update to the accounting standard regarding the disclosure requirements for fair value measurement. The amendments in this update remove certain disclosure requirements regarding transfers between assets as well as the valuation process for Level III assets. This update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. An entity is permitted to early adopt any removed or modified disclosures and delay adoption of the additional disclosures until their required effective date. We are currently evaluating the impact on our financial statements and future disclosures as a result of this update. </span></div>In August 2018, the FASB issued an update to the accounting standard regarding the capitalization of implementation costs for activities performed in a cloud computing arrangement that is a service contract. The new standard aligns the accounting for implementation costs of hosting arrangements that are service contracts with the accounting for capitalizing internal-use software. This update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the potential impact of the adoption of this update and do not expect it to have a material effect on our financial statements and disclosures.
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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215279000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214499000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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218783000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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220230000 shares
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.17
us-gaap Earnings Per Share Basic
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0.53
CY2018Q3 us-gaap Earnings Per Share Diluted
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0.66
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EarningsPerShareDiluted
0.30
us-gaap Earnings Per Share Diluted
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2.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Number Of Reportable Segments
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CY2018Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
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rdn Net Gains Losseson Investmentsand Other Financial Instruments
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-30800000 USD
CY2017Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
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2500000 USD
rdn Net Gains Losseson Investmentsand Other Financial Instruments
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5000000.0 USD
CY2018Q3 us-gaap Assets
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CY2018Q3 rdn Operating Income Loss Pre Tax Non Gaap
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CY2017Q3 rdn Operating Income Loss Pre Tax Non Gaap
OperatingIncomeLossPreTaxNonGAAP
155619000 USD
rdn Operating Income Loss Pre Tax Non Gaap
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551811000 USD
rdn Operating Income Loss Pre Tax Non Gaap
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CY2018Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
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CY2017Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
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2480000 USD
rdn Net Gains Losseson Investmentsand Other Financial Instruments
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rdn Net Gains Losseson Investmentsand Other Financial Instruments
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4960000 USD
CY2018Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
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CY2017Q3 us-gaap Gain Loss On Repurchase Of Debt Instrument
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us-gaap Gain Loss On Repurchase Of Debt Instrument
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0 USD
us-gaap Gain Loss On Repurchase Of Debt Instrument
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CY2018Q3 us-gaap Business Combination Acquisition Related Costs
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CY2017Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
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us-gaap Business Combination Acquisition Related Costs
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us-gaap Business Combination Acquisition Related Costs
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CY2018Q3 us-gaap Goodwill Impairment Loss
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CY2017Q3 us-gaap Goodwill Impairment Loss
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0 USD
us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Impairment Loss
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CY2018Q3 rdn Increase Decreasein Goodwilland Intangible Assets
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CY2017Q3 rdn Increase Decreasein Goodwilland Intangible Assets
IncreaseDecreaseinGoodwillandIntangibleAssets
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rdn Increase Decreasein Goodwilland Intangible Assets
IncreaseDecreaseinGoodwillandIntangibleAssets
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rdn Increase Decreasein Goodwilland Intangible Assets
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25042000 USD
CY2018Q3 us-gaap Impairment Of Long Lived Assets Held For Use
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4057000 USD
CY2017Q3 us-gaap Impairment Of Long Lived Assets Held For Use
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6575000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
3953000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
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6575000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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184688000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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102814000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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507701000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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182010000 USD
CY2018Q3 us-gaap Securities Received As Collateral
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CY2017Q4 us-gaap Securities Received As Collateral
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CY2017Q4 rdn Availableforsale Securitiesincluding Loaned Securities
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3649447000 USD
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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48778000 USD
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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16434000 USD
CY2018Q3 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
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636 security
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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2790951000 USD
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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64321000 USD
CY2018Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
101 security
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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314131000 USD
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
18449000 USD
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
82770000 USD
CY2017Q4 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
332 security
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
1338867000 USD
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
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CY2018Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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737 security
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
3105082000 USD
CY2017Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
72 security
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
262531000 USD
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
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CY2017Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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404 security
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
1601398000 USD
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
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16434000 USD
us-gaap Impairment Of Investments
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1700000 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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0 USD
us-gaap Impairment Of Investments
ImpairmentOfInvestments
1000000.0 USD
CY2018Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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0 USD
CY2018Q3 us-gaap Trading Securities
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493956000 USD
CY2017Q4 us-gaap Trading Securities
TradingSecurities
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us-gaap Repurchase Agreements Securities Lending Transactions And Repurchase To Maturity Transactions Accounted For As Secured Borrowings Description Of Potential Risks
RepurchaseAgreementsSecuritiesLendingTransactionsAndRepurchaseToMaturityTransactionsAccountedForAsSecuredBorrowingsDescriptionOfPotentialRisks
The Borrower generally may return the loaned securities to us at any time, which would require us to return the collateral within the standard settlement period for the loaned securities on the principal exchange or market in which the securities are traded. We manage this liquidity risk associated with cash collateral by maintaining the cash collateral in a short-term money-market fund with daily availability. The credit risk under these programs is reduced by the amounts of collateral received. On a daily basis, the value of the underlying securities that we have loaned to the Borrowers is compared to the value of cash and securities collateral we received from the Borrowers, and additional cash or securities are requested or returned, as applicable. In addition, we are indemnified against counterparty credit risk by the intermediary.
CY2018Q3 us-gaap Securities Loaned Amount Offset Against Collateral
SecuritiesLoanedAmountOffsetAgainstCollateral
0 USD
CY2018Q3 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
11000 USD
CY2017Q3 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
7000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
46000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
25000 USD
CY2018Q3 rdn Realized Gains Losseson Investments Net
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-4447000 USD
CY2017Q3 rdn Realized Gains Losseson Investments Net
RealizedGainsLossesonInvestmentsNet
-32000 USD
rdn Realized Gains Losseson Investments Net
RealizedGainsLossesonInvestmentsNet
-8977000 USD
rdn Realized Gains Losseson Investments Net
RealizedGainsLossesonInvestmentsNet
-9393000 USD
CY2018Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
900000 USD
CY2017Q3 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0 USD
us-gaap Impairment Of Investments
ImpairmentOfInvestments
1744000 USD
us-gaap Impairment Of Investments
ImpairmentOfInvestments
1000000 USD
CY2018Q3 us-gaap Unrealized Gain Loss On Securities
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1405000 USD
CY2017Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
2353000 USD
us-gaap Unrealized Gain Loss On Securities
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-17132000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
14517000 USD
CY2018Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3942000 USD
CY2017Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
2321000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
-27853000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
4124000 USD
CY2018Q3 rdn Net Gains Losses On Other Financial Instruments
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-538000 USD
CY2017Q3 rdn Net Gains Losses On Other Financial Instruments
NetGainsLossesOnOtherFinancialInstruments
159000 USD
rdn Net Gains Losses On Other Financial Instruments
NetGainsLossesOnOtherFinancialInstruments
-2918000 USD
rdn Net Gains Losses On Other Financial Instruments
NetGainsLossesOnOtherFinancialInstruments
836000 USD
CY2018Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
-4480000 USD
CY2017Q3 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
2480000 USD
rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
-30771000 USD
rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
4960000 USD
CY2018Q3 rdn Changein Unrealized Holding Gain Loss
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349000 USD
CY2017Q3 rdn Changein Unrealized Holding Gain Loss
ChangeinUnrealizedHoldingGainLoss
2694000 USD
rdn Changein Unrealized Holding Gain Loss
ChangeinUnrealizedHoldingGainLoss
-16268000 USD
rdn Changein Unrealized Holding Gain Loss
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10011000 USD
CY2018Q3 us-gaap Deposit Assets
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88557000 USD
CY2018Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
76600000 USD
CY2017Q4 us-gaap Advances From Federal Home Loan Banks
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0 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3461000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8146000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6827000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5413000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4881000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4430000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
11627000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
44785000 USD
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P15Y
CY2017Q4 us-gaap Deposit Assets
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88557000 USD
CY2018Q3 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
82800000 USD
CY2017Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
85862000 USD
CY2018Q3 us-gaap Capitalized Computer Software Net
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51191000 USD
CY2017Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
48751000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
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38060000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38291000 USD
CY2018Q3 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
34430000 USD
CY2017Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
31389000 USD
CY2018Q3 us-gaap Securities Loaned Asset
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34364000 USD
CY2017Q4 us-gaap Securities Loaned Asset
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27964000 USD
CY2018Q3 us-gaap Unbilled Contracts Receivable
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19580000 USD
CY2017Q4 us-gaap Unbilled Contracts Receivable
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22257000 USD
CY2018Q3 us-gaap Deferred Policy Acquisition Costs
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16922000 USD
CY2017Q4 us-gaap Deferred Policy Acquisition Costs
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16987000 USD
CY2018Q3 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
13542000 USD
CY2017Q4 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
8492000 USD
CY2018Q3 us-gaap Other Assets Miscellaneous
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35826000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
39299000 USD
CY2018Q3 us-gaap Other Assets
OtherAssets
415272000 USD
CY2017Q4 us-gaap Other Assets
OtherAssets
407849000 USD
CY2018Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
57200000 USD
CY2017Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
48400000 USD
CY2018Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2900000 USD
CY2017Q3 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2700000 USD
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
8600000 USD
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
7900000 USD
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
61000000.0 USD
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
57600000 USD
CY2018Q3 us-gaap Depreciation
Depreciation
2100000 USD
CY2017Q3 us-gaap Depreciation
Depreciation
1900000 USD
us-gaap Depreciation
Depreciation
5900000 USD
us-gaap Depreciation
Depreciation
4900000 USD
CY2018Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
7000000.0 USD
CY2017Q4 rdn Unearned Ceding Commissions
UnearnedCedingCommissions
89907000 USD
CY2018Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
71430000 USD
CY2017Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
0 USD
CY2018Q3 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
48712000 USD
CY2017Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
67687000 USD
CY2018Q3 rdn Payableforsecurities
Payableforsecurities
43076000 USD
CY2018Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
412460000 USD
CY2017Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
507588000 USD
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
The following table presents information relating to our mortgage insurance reserve for losses, including our IBNR reserve and LAE but excluding our Second-lien premium deficiency reserve, for the periods indicated:<div style="line-height:120%;padding-top:6px;padding-left:0px;text-indent:96px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">        </span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:71.15009746588694%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"/></tr><tr><td style="width:59%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:4%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Nine Months Ended<br/>September 30,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;text-decoration:underline;">(In thousands)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at beginning of period</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#dbe5f1;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>507,588</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>760,269</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Reinsurance recoverables </span><span style="font-family:inherit;font-size:7pt;font-weight:bold;">(1)</span><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,350</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,851</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at beginning of period, net of reinsurance recoverables</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,238</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>753,418</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Add: Losses and LAE incurred in respect of default notices reported and unreported in:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current year </span><span style="font-family:inherit;font-size:7pt;font-weight:bold;">(2)</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>100,047</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>145,798</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Prior years </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24,075</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(45,331</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total incurred</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,972</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>100,467</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deduct: Paid claims and LAE related to:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current year </span><span style="font-family:inherit;font-size:7pt;font-weight:bold;">(2)</span><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,316</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,639</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Prior years</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>173,911</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,228</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total paid</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>176,227</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>304,867</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><span style="font-family:inherit;font-size:7pt;font-weight:bold;">(3)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at end of period, net of reinsurance recoverables</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>398,983</span></span></div></td><td style="vertical-align:bottom;background-color:#dbe5f1;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>549,018</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Add: Reinsurance recoverables </span><span style="font-family:inherit;font-size:7pt;font-weight:bold;">(1)</span><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,997</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,470</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at end of period</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#dbe5f1;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>408,980</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#dbe5f1;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>556,488</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">______________________</span><span style="font-family:inherit;font-size:10pt;"> </span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;">(1)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Related to ceded losses recoverable, if any, on captive reinsurance transactions, the QSR Program and the Single Premium QSR Program. See Note </span><span style="font-family:inherit;font-size:10pt;">7</span><span style="font-family:inherit;font-size:10pt;"> for additional information.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;">(2)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.</span></div></td></tr></table><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;">(3)</span></div><span style="font-family:inherit;font-size:10pt;">Includes the payment of </span><span style="font-family:inherit;font-size:10pt;"><span>$54.8 million</span></span> made in connection with the scheduled final settlement of the Freddie Mac Agreement in the third quarter of 2017.
CY2018Q3 rdn Numberof Natural Disasters
NumberofNaturalDisasters
2 incident
CY2018Q3 us-gaap Senior Notes
SeniorNotes
1029511000 USD
CY2017Q4 us-gaap Senior Notes
SeniorNotes
1027074000 USD
CY2018Q3 rdn Unearned Ceding Commissions
UnearnedCedingCommissions
92987000 USD
CY2017Q4 rdn Payableforsecurities
Payableforsecurities
1000000 USD
CY2018Q3 rdn Securities Lending Payable
SecuritiesLendingPayable
31799000 USD
CY2017Q4 rdn Securities Lending Payable
SecuritiesLendingPayable
19357000 USD
CY2018Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
11278000 USD
CY2017Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
96740000 USD
CY2018Q3 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
80080000 USD
CY2017Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
79154000 USD
CY2018Q3 us-gaap Other Liabilities
OtherLiabilities
379362000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
353845000 USD
CY2018Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
71400000 USD
CY2018Q3 us-gaap Federal Home Loan Bank Advances Weighted Average Interest Rate
FederalHomeLoanBankAdvancesWeightedAverageInterestRate
0.0249
us-gaap Federal Home Loan Bank Advances Maturity Period Fixed Rate
FederalHomeLoanBankAdvancesMaturityPeriodFixedRate
P90D
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
46900000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
11500000 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5000000.0 USD
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
8000000.0 USD
us-gaap Federal Home Loan Bank Advances Maturity Period Fixed Rate
FederalHomeLoanBankAdvancesMaturityPeriodFixedRate
P90D
CY2018Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
76600000 USD
CY2018Q3 rdn Number Of States That Have Statutory Or Regulatory Risk Based Capital Requirement
NumberOfStatesThatHaveStatutoryOrRegulatoryRiskBasedCapitalRequirement
16 state
CY2018Q3 rdn Risk To Capital Ratio Regulatory Maximum
RiskToCapitalRatioRegulatoryMaximum
25

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