2019 Q1 Form 10-Q Financial Statement

#000089092619000028 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $363.6M $291.6M
YoY Change 24.71% 0.98%
Cost Of Revenue $24.16M $23.13M
YoY Change 4.46% -18.5%
Gross Profit $339.5M $268.5M
YoY Change 26.45% 3.11%
Gross Profit Margin 93.36% 92.07%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.100M $1.900M
YoY Change 10.53% -53.66%
% of Gross Profit 0.62% 0.71%
Operating Expenses $147.5M $149.1M
YoY Change -1.11% -14.32%
Operating Profit $192.0M $119.3M
YoY Change 60.9% 38.27%
Interest Expense $15.70M $15.08M
YoY Change 4.09% -5.38%
% of Operating Profit 8.18% 12.64%
Other Income/Expense, Net
YoY Change
Pretax Income $216.1M $142.4M
YoY Change 51.74% 24.22%
Income Tax $45.18M $27.96M
% Of Pretax Income 20.9% 19.63%
Net Earnings $171.0M $114.5M
YoY Change 49.33% 49.71%
Net Earnings / Revenue 47.01% 39.26%
Basic Earnings Per Share $0.80 $0.53
Diluted Earnings Per Share $0.78 $0.52
COMMON SHARES
Basic Shares Outstanding 213.5M shares 216.0M shares
Diluted Shares Outstanding 218.3M shares 219.9M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $118.7M $122.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $89.20M $80.10M
YoY Change 11.36% 8.54%
LONG-TERM ASSETS
Property, Plant & Equipment $39.53M $87.33M
YoY Change -54.74% 17.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.476B $4.668B
YoY Change 17.3% 5.19%
Other Assets $76.80M $261.0M
YoY Change -70.57% -31.66%
Total Long-Term Assets $6.510B $5.930B
YoY Change 9.78% 3.06%
TOTAL ASSETS
Total Short-Term Assets $89.20M $80.10M
Total Long-Term Assets $6.510B $5.930B
Total Assets $6.600B $6.010B
YoY Change 9.81% 3.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $70.90M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $96.10M $133.5M
YoY Change -28.01%
LONG-TERM LIABILITIES
Long-Term Debt $1.140B $1.053B
YoY Change 8.19% 4.33%
Other Long-Term Liabilities $214.8M $253.7M
YoY Change -15.33% -20.54%
Total Long-Term Liabilities $1.355B $1.307B
YoY Change 3.63% -1.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.10M $133.5M
Total Long-Term Liabilities $1.355B $1.307B
Total Liabilities $2.889B $2.958B
YoY Change -2.31% 1.77%
SHAREHOLDERS EQUITY
Retained Earnings $1.890B $1.230B
YoY Change 53.7% 14.56%
Common Stock $2.698B $2.748B
YoY Change -1.84% 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $895.3M $894.2M
YoY Change 0.13% 0.09%
Treasury Stock Shares 17.68M shares 17.62M shares
Shareholders Equity $3.710B $3.052B
YoY Change
Total Liabilities & Shareholders Equity $6.600B $6.010B
YoY Change 9.81% 3.13%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $171.0M $114.5M
YoY Change 49.33% 49.71%
Depreciation, Depletion And Amortization $2.100M $1.900M
YoY Change 10.53% -53.66%
Cash From Operating Activities $217.8M $118.4M
YoY Change 83.86% 41.12%
INVESTING ACTIVITIES
Capital Expenditures $6.659M $4.702M
YoY Change 41.62% -38.83%
Acquisitions $0.00 $261.0K
YoY Change -100.0% 203.49%
Other Investing Activities -$178.7M -$115.0M
YoY Change 55.39% -304.63%
Cash From Investing Activities -$185.3M -$119.7M
YoY Change 54.79% -346.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.41M $9.340M
YoY Change 236.31% -426.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$11.68M $35.15M
YoY Change -133.23% -132.58%
NET CHANGE
Cash From Operating Activities $217.8M $118.4M
Cash From Investing Activities -$185.3M -$119.7M
Cash From Financing Activities -$11.68M $35.15M
Net Change In Cash $20.75M $33.86M
YoY Change -38.71% 37.78%
FREE CASH FLOW
Cash From Operating Activities $217.8M $118.4M
Capital Expenditures $6.659M $4.702M
Free Cash Flow $211.1M $113.7M
YoY Change 85.61% 49.18%

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CY2019Q1 us-gaap Increase Decrease In Securities Lending Payable
IncreaseDecreaseInSecuritiesLendingPayable
21534000 USD
CY2018Q1 us-gaap Increase Decrease In Securities Lending Payable
IncreaseDecreaseInSecuritiesLendingPayable
38719000 USD
CY2019Q1 us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths
6000000 USD
CY2018Q1 us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths
6550000 USD
CY2019Q1 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
7000000 USD
CY2018Q1 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
0 USD
CY2019Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
38000 USD
CY2018Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
50000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11683000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
35154000 USD
CY2019Q1 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
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
20752000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
33860000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107002000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96244000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127754000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130104000 USD
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain prior period amounts have been reclassified to conform to current period presentation.
CY2019Q1 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.
CY2019Q1 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 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 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 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 and do not expect it to have a material effect on our financial statements and disclosures. </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.
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
170957000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
114486000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213537000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215967000 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4806000 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3916000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218343000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219883000 shares
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2019Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
21900000 USD
CY2018Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
-18900000 USD
CY2019Q1 rdn Operating Income Loss Pre Tax Non Gaap
OperatingIncomeLossPreTaxNonGAAP
202070000 USD
CY2018Q1 rdn Operating Income Loss Pre Tax Non Gaap
OperatingIncomeLossPreTaxNonGAAP
164103000 USD
CY2019Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
21913000 USD
CY2018Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
-18887000 USD
CY2019Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
233000 USD
CY2018Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 USD
CY2019Q1 rdn Increase Decreasein Goodwilland Intangible Assets
IncreaseDecreaseinGoodwillandIntangibleAssets
2187000 USD
CY2018Q1 rdn Increase Decreasein Goodwilland Intangible Assets
IncreaseDecreaseinGoodwillandIntangibleAssets
2748000 USD
CY2019Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
5427000 USD
CY2018Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
26000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
216136000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
142442000 USD
CY2019Q1 us-gaap Securities Received As Collateral
SecuritiesReceivedAsCollateral
6200000 USD
CY2018Q4 us-gaap Securities Received As Collateral
SecuritiesReceivedAsCollateral
11700000 USD
CY2019Q1 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
108532000 USD
CY2018Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
82532000 USD
CY2019Q1 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
168 security
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
747531000 USD
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
6406000 USD
CY2019Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
244 security
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
994813000 USD
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
18135000 USD
CY2019Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
412 security
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
1742344000 USD
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
24541000 USD
CY2018Q4 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
550 security
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
2201228000 USD
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
50707000 USD
CY2018Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
237 security
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
957742000 USD
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
37333000 USD
CY2018Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
787 security
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
3158970000 USD
CY2018Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
88040000 USD
CY2019Q1 us-gaap Trading Securities
TradingSecurities
383992000 USD
CY2018Q4 us-gaap Trading Securities
TradingSecurities
469071000 USD
CY2019Q1 us-gaap Securities Loaned Amount Offset Against Collateral
SecuritiesLoanedAmountOffsetAgainstCollateral
0 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
85000 USD
CY2018Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
12000 USD
CY2019Q1 rdn Realized Gains Losseson Investments Net
RealizedGainsLossesonInvestmentsNet
-1687000 USD
CY2018Q1 rdn Realized Gains Losseson Investments Net
RealizedGainsLossesonInvestmentsNet
-3442000 USD
CY2019Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
19469000 USD
CY2018Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-12804000 USD
CY2019Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
17782000 USD
CY2018Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-17090000 USD
CY2019Q1 rdn Net Gains Losses On Other Financial Instruments
NetGainsLossesOnOtherFinancialInstruments
4131000 USD
CY2018Q1 rdn Net Gains Losses On Other Financial Instruments
NetGainsLossesOnOtherFinancialInstruments
-1797000 USD
CY2019Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
21913000 USD
CY2018Q1 rdn Net Gains Losseson Investmentsand Other Financial Instruments
NetGainsLossesonInvestmentsandOtherFinancialInstruments
-18887000 USD
CY2019Q1 rdn Changein Unrealized Holding Gain Loss
ChangeinUnrealizedHoldingGainLoss
16506000 USD
CY2018Q1 rdn Changein Unrealized Holding Gain Loss
ChangeinUnrealizedHoldingGainLoss
-13226000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
114600000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
88400000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6416000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
7236000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5822000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
5290000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4839000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
12578000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42181000 USD
CY2019Q1 us-gaap Direct Premiums Written
DirectPremiumsWritten
261031000 USD
CY2018Q1 us-gaap Direct Premiums Written
DirectPremiumsWritten
256599000 USD
CY2019Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
2445000 USD
CY2018Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
1312000 USD
CY2019Q1 us-gaap Direct Premiums Earned
DirectPremiumsEarned
280223000 USD
CY2019Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
10156000 USD
CY2018Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
19931000 USD
CY2019Q1 us-gaap Premiums Written Net
PremiumsWrittenNet
253320000 USD
CY2018Q1 us-gaap Premiums Written Net
PremiumsWrittenNet
237980000 USD
CY2018Q1 us-gaap Direct Premiums Earned
DirectPremiumsEarned
257431000 USD
CY2019Q1 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
2450000 USD
CY2018Q1 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
1318000 USD
CY2019Q1 us-gaap Ceded Premiums Earned
CededPremiumsEarned
19161000 USD
CY2018Q1 us-gaap Ceded Premiums Earned
CededPremiumsEarned
16199000 USD
CY2019Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
263512000 USD
CY2018Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
242550000 USD
CY2019Q1 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
85729000 USD
CY2018Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
83377000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
47150000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
46611000 USD
CY2018Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
51367000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39530000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37090000 USD
CY2019Q1 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
33275000 USD
CY2018Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
34878000 USD
CY2019Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
22967000 USD
CY2018Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
19917000 USD
CY2019Q1 us-gaap Securities Loaned Asset
SecuritiesLoanedAsset
22606000 USD
CY2018Q4 us-gaap Securities Loaned Asset
SecuritiesLoanedAsset
27860000 USD
CY2019Q1 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
17594000 USD
CY2018Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
17311000 USD
CY2019Q1 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
15401000 USD
CY2018Q4 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
14402000 USD
CY2019Q1 rdn Income Taxes Receivable Federal Current
IncomeTaxesReceivableFederalCurrent
0 USD
CY2018Q4 rdn Income Taxes Receivable Federal Current
IncomeTaxesReceivableFederalCurrent
44506000 USD
CY2019Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
42815000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
36992000 USD
CY2019Q1 us-gaap Other Assets
OtherAssets
373678000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
367700000 USD
CY2018Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
60300000 USD
CY2019Q1 rdn Accumulated Amortization Rightof Use Assets
AccumulatedAmortizationRightofUseAssets
2300000 USD
CY2019Q1 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
63700000 USD
CY2019Q1 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
3800000 USD
CY2018 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
5100000 USD
CY2019Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3100000 USD
CY2018Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2800000 USD
CY2019Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
64500000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
62900000 USD
CY2019Q1 us-gaap Depreciation
Depreciation
2100000 USD
CY2018Q1 us-gaap Depreciation
Depreciation
1900000 USD
CY2019Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2100000 USD
CY2019Q1 rdn Deferred Tax Assets Operating Loss Carryforwards Stateand Local Netof Federal Benefit
DeferredTaxAssetsOperatingLossCarryforwardsStateandLocalNetofFederalBenefit
67700000 USD
CY2019Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
388784000 USD
CY2018Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
401361000 USD
CY2019Q1 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 mortgage loan premium deficiency reserve, for the periods indicated:<div style="line-height:120%;padding-top:6px;text-align:left;padding-left:0px;text-indent:0px;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;width:76.0233918128655%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:71%;"/><td style="width:1%;"/><td style="width:12%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/><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="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;">Three Months Ended<br/>March 31,</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;background-color:#bec7cc;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;">2019</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;">2018</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:#bec7cc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>397,891</span></span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>507,588</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: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:#bec7cc;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>11,009</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;"><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>8,350</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></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:#bec7cc;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>386,882</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;"><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>499,238</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></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:#bec7cc;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></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:#bec7cc;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>38,922</span></span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;"><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>36,516</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: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:#bec7cc;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>(18,173</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;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>391</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></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:#bec7cc;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>20,749</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;"><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>36,907</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></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:#bec7cc;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></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:#bec7cc;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>295</span></span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;"><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>226</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: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:#bec7cc;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>34,294</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;"><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>59,700</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></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:#bec7cc;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>34,589</span></span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;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>59,926</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: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:#bec7cc;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>373,042</span></span></div></td><td style="vertical-align:bottom;background-color:#bec7cc;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>476,219</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: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:#bec7cc;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>12,319</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#bec7cc;"><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>8,973</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></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:#bec7cc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#bec7cc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>385,361</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#bec7cc;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>485,192</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></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 reinsurance transactions. 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><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;">(2)</span></div>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.
CY2019Q1 rdn Numberof Natural Disasters
NumberofNaturalDisasters
2 incident
CY2019Q1 us-gaap Senior Notes
SeniorNotes
1031197000 USD
CY2018Q4 us-gaap Senior Notes
SeniorNotes
1030348000 USD
CY2019Q1 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
108532000 USD
CY2018Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
82532000 USD
CY2019Q1 rdn Unearned Ceding Commissions
UnearnedCedingCommissions
88110000 USD
CY2018Q4 rdn Unearned Ceding Commissions
UnearnedCedingCommissions
91400000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
70927000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2019Q1 rdn Payableforsecurities
Payableforsecurities
35981000 USD
CY2018Q4 rdn Payableforsecurities
Payableforsecurities
7949000 USD
CY2019Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
25245000 USD
CY2018Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 USD
CY2019Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
19112000 USD
CY2018Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
61452000 USD
CY2019Q1 rdn Securities Lending Payable
SecuritiesLendingPayable
6233000 USD
CY2018Q4 rdn Securities Lending Payable
SecuritiesLendingPayable
11699000 USD
CY2019Q1 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
65330000 USD
CY2018Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
78627000 USD
CY2019Q1 us-gaap Other Liabilities
OtherLiabilities
419470000 USD
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
333659000 USD
CY2019Q1 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
108500000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Advances Weighted Average Interest Rate
FederalHomeLoanBankAdvancesWeightedAverageInterestRate
0.0277
CY2019Q1 us-gaap Federal Home Loan Bank Advances Maturity Period Fixed Rate
FederalHomeLoanBankAdvancesMaturityPeriodFixedRate
P90D
CY2019Q1 us-gaap Federal Home Loan Bank Advances Maturity Period Fixed Rate
FederalHomeLoanBankAdvancesMaturityPeriodFixedRate
P90D
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2319000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
2342000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2637000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
47150000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
70927000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y4M24D
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0675
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7873000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10428000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9964000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10136000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
10275000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
56542000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
105218000 USD
CY2019Q1 rdn Lessee Operating Lease Imputed Interest
LesseeOperatingLeaseImputedInterest
34291000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
70927000 USD
CY2018Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1200000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
11310000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
10847000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10165000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
10100000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
10251000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
56317000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
108990000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
0 USD
CY2019Q1 rdn Number Of States That Have Statutory Or Regulatory Risk Based Capital Requirement
NumberOfStatesThatHaveStatutoryOrRegulatoryRiskBasedCapitalRequirement
16 state
CY2019Q1 rdn Risk To Capital Ratio Regulatory Maximum
RiskToCapitalRatioRegulatoryMaximum
25

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