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10-Q Filing

RADIAN GROUP INC CIK: 890926 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000890926-17-000022
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance rdn-20170331.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Available-for-sale Debt Securities, Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis $2.86B USD Point-in-time
Available-for-sale Debt Securities, Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis $2.94B USD Point-in-time
Available-for-sale Equity Securities, Amortized Cost Basis AvailableForSaleEquitySecuritiesAmortizedCostBasis $1.33M USD Point-in-time
Fixed-maturities available for saleat fair value (amortized cost $2,941,528 and $2,856,468) AvailableForSaleSecuritiesDebtSecurities $2.94B USD Point-in-time
Available-for-sale Equity Securities, Amortized Cost Basis AvailableForSaleEquitySecuritiesAmortizedCostBasis $1.33M USD Point-in-time
Fixed-maturities available for saleat fair value (amortized cost $2,941,528 and $2,856,468) AvailableForSaleSecuritiesDebtSecurities $2.84B USD Point-in-time
Equity securities available for saleat fair value (cost $1,330 and $1,330) AvailableForSaleSecuritiesEquitySecurities $1.33M USD Point-in-time
Equity securities available for saleat fair value (cost $1,330 and $1,330) AvailableForSaleSecuritiesEquitySecurities $1.33M USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Trading securitiesat fair value TradingSecurities $811.31M USD Point-in-time
Trading securitiesat fair value TradingSecurities $879.86M USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 485.00M shares Point-in-time
Short-term investmentsat fair value OtherShortTermInvestments $686.68M USD Point-in-time
Short-term investmentsat fair value OtherShortTermInvestments $741.53M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 485.00M shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 232.66M shares Point-in-time
Other invested assets OtherInvestments $973.00K USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 232.09M shares Point-in-time
Other invested assets OtherInvestments $1.20M USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 215.09M shares Point-in-time
Total investments Investments $4.46B USD Point-in-time
Total investments Investments $4.44B USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 214.52M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $73.70M USD Point-in-time
Treasury Stock, Shares TreasuryStockShares 17.57M shares Point-in-time
Treasury Stock, Shares TreasuryStockShares 17.57M shares Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $52.15M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $12.69M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $9.66M USD Point-in-time
Accounts and notes receivable AccountsReceivableNet $73.79M USD Point-in-time
Accounts and notes receivable AccountsReceivableNet $77.63M USD Point-in-time
Deferred income taxes, net (Note 9) DeferredTaxAssetsNet $369.21M USD Point-in-time
Deferred income taxes, net (Note 9) DeferredTaxAssetsNet $411.80M USD Point-in-time
Goodwill and other intangible assets, net (Note 6) IntangibleAssetsNetIncludingGoodwill $276.23M USD Point-in-time
Goodwill and other intangible assets, net (Note 6) IntangibleAssetsNetIncludingGoodwill $273.07M USD Point-in-time
Prepaid reinsurance premium PrepaidReinsurancePremiums $229.44M USD Point-in-time
Prepaid reinsurance premium PrepaidReinsurancePremiums $230.15M USD Point-in-time
Other assets (Note 8) OtherAssets $343.83M USD Point-in-time
Other assets (Note 8) OtherAssets $357.44M USD Point-in-time
Total assets Assets $5.83B USD Point-in-time
Total assets Assets $5.86B USD Point-in-time
Unearned premiums UnearnedPremiums $681.22M USD Point-in-time
Unearned premiums UnearnedPremiums $684.80M USD Point-in-time
Reserve for losses and loss adjustment expense (LAE) (Note 10) LiabilityForClaimsAndClaimsAdjustmentExpense $726.17M USD Point-in-time
Reserve for losses and loss adjustment expense (LAE) (Note 10) LiabilityForClaimsAndClaimsAdjustmentExpense $760.27M USD Point-in-time
Long-term debt (Note 11) LongTermDebt $1.07B USD Point-in-time
Long-term debt (Note 11) LongTermDebt $1.01B USD Point-in-time
Reinsurance funds withheld FundsHeldUnderReinsuranceAgreementsLiability $167.43M USD Point-in-time
Reinsurance funds withheld FundsHeldUnderReinsuranceAgreementsLiability $158.00M USD Point-in-time
Other liabilities OtherLiabilities $321.86M USD Point-in-time
Other liabilities OtherLiabilities $319.28M USD Point-in-time
Total liabilities Liabilities $2.99B USD Point-in-time
Total liabilities Liabilities $2.91B USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Equity component of currently redeemable convertible senior notes (Note 11) TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests - USD Point-in-time
Equity component of currently redeemable convertible senior notes (Note 11) TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests $883.00K USD Point-in-time
Common stock: par value $.001 per share; 485,000,000 shares authorized at March 31, 2017 and December 31, 2016; 232,663,818 and 232,091,921 shares issued at March 31, 2017 and December 31, 2016, respectively; 215,090,781 and 214,521,079 shares outstanding at March 31, 2017 and December 31, 2016, respectively CommonStockValue $233.00K USD Point-in-time
Common stock: par value $.001 per share; 485,000,000 shares authorized at March 31, 2017 and December 31, 2016; 232,663,818 and 232,091,921 shares issued at March 31, 2017 and December 31, 2016, respectively; 215,090,781 and 214,521,079 shares outstanding at March 31, 2017 and December 31, 2016, respectively CommonStockValue $232.00K USD Point-in-time
Treasury stock, at cost: 17,573,037 and 17,570,842 shares at March 31, 2017 and December 31, 2016, respectively TreasuryStockValue $893.37M USD Point-in-time
Treasury stock, at cost: 17,573,037 and 17,570,842 shares at March 31, 2017 and December 31, 2016, respectively TreasuryStockValue $893.33M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.74B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.78B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $997.89M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.07B USD Point-in-time
Accumulated other comprehensive income (loss) (AOCI) (Note 14) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.36M USD Point-in-time
Accumulated other comprehensive income (loss) (AOCI) (Note 14) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.39M USD Point-in-time
Total stockholders equity StockholdersEquity $2.87B USD Point-in-time
Total stockholders equity StockholdersEquity $2.92B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $5.86B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $5.83B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net premiums earnedinsurance PremiumsEarnedNet $220.95M USD 1 Quarter
Net premiums earnedinsurance PremiumsEarnedNet $221.80M USD 1 Quarter
Services revenue SalesRevenueServicesNet $32.85M USD 1 Quarter
Services revenue SalesRevenueServicesNet $38.03M USD 1 Quarter
Net investment income NetInvestmentIncome $31.03M USD 1 Quarter
Net investment income NetInvestmentIncome $27.20M USD 1 Quarter
Net gains (losses) on investments and other financial instruments NetGainsLossesonInvestmentsandOtherFinancialInstruments $31.29M USD 1 Quarter
Net gains (losses) on investments and other financial instruments NetGainsLossesonInvestmentsandOtherFinancialInstruments $-2.85M USD 1 Quarter
Other income OtherIncome $746.00K USD 1 Quarter
Other income OtherIncome $666.00K USD 1 Quarter
Total revenues Revenues $288.75M USD 1 Quarter
Total revenues Revenues $312.95M USD 1 Quarter
Provision for losses PolicyholderBenefitsandClaimsIncurredNetandIncludingChangeinReservesforPremiumDeficiency $42.99M USD 1 Quarter
Provision for losses PolicyholderBenefitsandClaimsIncurredNetandIncludingChangeinReservesforPremiumDeficiency $46.91M USD 1 Quarter
Policy acquisition costs DeferredPolicyAcquisitionCostAmortizationExpense $6.39M USD 1 Quarter
Policy acquisition costs DeferredPolicyAcquisitionCostAmortizationExpense $6.73M USD 1 Quarter
Cost of services CostOfServices $28.38M USD 1 Quarter
Cost of services CostOfServices $23.55M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $68.38M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $57.19M USD 1 Quarter
Interest expense InterestExpense $21.53M USD 1 Quarter
Interest expense InterestExpense $15.94M USD 1 Quarter
Loss on induced conversion and debt extinguishment (Note 11) GainLossOnRepurchaseOfDebtInstrument $-4.46M USD 1 Quarter
Loss on induced conversion and debt extinguishment (Note 11) GainLossOnRepurchaseOfDebtInstrument $-55.57M USD 1 Quarter
Amortization and impairment of intangible assets DepreciationAndAmortization $3.30M USD 1 Quarter
Amortization and impairment of intangible assets DepreciationAndAmortization $3.33M USD 1 Quarter
Total expenses OperatingExpenses $210.55M USD 1 Quarter
Total expenses OperatingExpenses $174.08M USD 1 Quarter
Pretax income IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $102.40M USD 1 Quarter
Pretax income IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $114.67M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $36.15M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $38.20M USD 1 Quarter
Net income IncomeLossFromContinuingOperations $76.47M USD 1 Quarter
Net income IncomeLossFromContinuingOperations $66.25M USD 1 Quarter
Basic net income per share EarningsPerShareBasic $0.36 USD 1 Quarter
Basic net income per share EarningsPerShareBasic $0.33 USD 1 Quarter
Diluted net income per share EarningsPerShareDiluted $0.29 USD 1 Quarter
Diluted net income per share EarningsPerShareDiluted $0.34 USD 1 Quarter
Weighted-average number of common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 203.71M shares 1 Quarter
Weighted-average number of common shares outstandingbasic WeightedAverageNumberOfSharesOutstandingBasic 214.93M shares 1 Quarter
Weighted-average number of common and common equivalent shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 221.50M shares 1 Quarter
Weighted-average number of common and common equivalent shares outstandingdiluted WeightedAverageNumberOfDilutedSharesOutstanding 239.71M shares 1 Quarter
Dividends per share CommonStockDividendsPerShareDeclared $0.00 USD 1 Quarter
Dividends per share CommonStockDividendsPerShareDeclared $0.00 USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net Cash Provided by (Used in) Operating Activities NetCashProvidedByUsedInOperatingActivities $38.93M USD 1 Quarter
Net Cash Provided by (Used in) Operating Activities NetCashProvidedByUsedInOperatingActivities $83.93M USD 1 Quarter
Proceeds from Sale and Maturity of Fixed-Maturity Investments Available-for-sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $253.12M USD 1 Quarter
Proceeds from Sale and Maturity of Fixed-Maturity Investments Available-for-sale ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $111.10M USD 1 Quarter
Proceeds from Sale of Available-for-sale Securities, Equity ProceedsFromSaleOfAvailableForSaleSecuritiesEquity - USD 1 Quarter
Proceeds from Sale of Available-for-sale Securities, Equity ProceedsFromSaleOfAvailableForSaleSecuritiesEquity $74.87M USD 1 Quarter
Proceeds from Sale of Trading Securities Held-for-investment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment $65.16M USD 1 Quarter
Proceeds from Sale of Trading Securities Held-for-investment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment $46.69M USD 1 Quarter
Proceeds from Redemption of Fixed-Maturity Investments Available-for-sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $123.68M USD 1 Quarter
Proceeds from Redemption of Fixed-Maturity Investments Available-for-sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $58.86M USD 1 Quarter
Proceeds from Redemption of Trading Securities Held-for-investment ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment $34.10M USD 1 Quarter
Proceeds from Redemption of Trading Securities Held-for-investment ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment $19.54M USD 1 Quarter
Purchases of Fixed-Maturity Investments Available-for-sale PaymentsToAcquireAvailableForSaleSecurities $444.87M USD 1 Quarter
Purchases of Fixed-Maturity Investments Available-for-sale PaymentsToAcquireAvailableForSaleSecurities $753.66M USD 1 Quarter
Sales, Redemptions and (Purchases) of Short-term Investments PaymentsForProceedsFromShortTermInvestments $-57.92M USD 1 Quarter
Sales, Redemptions and (Purchases) of Short-term Investments PaymentsForProceedsFromShortTermInvestments $-341.37M USD 1 Quarter
Sales, Redemptions and (Purchases) of Other assets and other invested assets, net ProceedsFromSaleOfOtherAssetsInvestingActivities $132.00K USD 1 Quarter
Sales, Redemptions and (Purchases) of Other assets and other invested assets, net ProceedsFromSaleOfOtherAssetsInvestingActivities $222.00K USD 1 Quarter
Purchases of property and equipment, net PaymentsForProceedsFromProductiveAssets $6.52M USD 1 Quarter
Purchases of property and equipment, net PaymentsForProceedsFromProductiveAssets $7.69M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $86.00K USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $48.53M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-74.59M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $497.00K USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $538.00K USD 1 Quarter
Issuance of long-term debt, net ProceedsFromDebtNetOfIssuanceCosts $344.14M USD 1 Quarter
Issuance of long-term debt, net ProceedsFromDebtNetOfIssuanceCosts - USD 1 Quarter
Purchases and redemptions of long-term debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities $-192.72M USD 1 Quarter
Purchases and redemptions of long-term debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities $-110.16M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $24.00K USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $2.87M USD 1 Quarter
Purchase of common shares PaymentsForRepurchaseOfCommonStock $100.19M USD 1 Quarter
Purchase of common shares PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Excess tax benefits from share-based awards (Note 1) ExcessTaxBenefitFromShareBasedCompensationFinancingActivities - USD 1 Quarter
Excess tax benefits from share-based awards (Note 1) ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $20.00K USD 1 Quarter
Repayment of other borrowings RepaymentsOfLongTermCapitalLeaseObligations $81.00K USD 1 Quarter
Repayment of other borrowings RepaymentsOfLongTermCapitalLeaseObligations $108.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-107.91M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $50.67M USD 1 Quarter
Effect of exchange rate changes on cash and restricted cash EffectofExchangeRateonCashandRestrictedCash $24.00K USD 1 Quarter
Effect of exchange rate changes on cash and restricted cash EffectofExchangeRateonCashandRestrictedCash $-1.00K USD 1 Quarter
Increase (decrease) in cash and restricted cash CashandRestrictedCashPeriodIncreaseDecreaseIncludingDiscontinuedOperations $24.58M USD 1 Quarter
Increase (decrease) in cash and restricted cash CashandRestrictedCashPeriodIncreaseDecreaseIncludingDiscontinuedOperations $15.01M USD 1 Quarter
Cash and restricted cash, beginning of period CashandRestrictedCash $86.39M USD Point-in-time
Cash and restricted cash, beginning of period CashandRestrictedCash $61.81M USD Point-in-time
Cash and restricted cash, beginning of period CashandRestrictedCash $59.90M USD Point-in-time
Cash and restricted cash, beginning of period CashandRestrictedCash $74.90M USD Point-in-time
Cash and restricted cash, end of period CashandRestrictedCash $86.39M USD Point-in-time
Cash and restricted cash, end of period CashandRestrictedCash $61.81M USD Point-in-time
Cash and restricted cash, end of period CashandRestrictedCash $59.90M USD Point-in-time
Cash and restricted cash, end of period CashandRestrictedCash $74.90M USD Point-in-time
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquity $2.87B USD Point-in-time
Balance, beginning of period StockholdersEquity $2.92B USD Point-in-time
Net income NetIncomeLoss $76.47M USD 1 Quarter
Net income NetIncomeLoss $66.25M USD 1 Quarter
Net foreign currency translation adjustment, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-85.00K USD 1 Quarter
Net foreign currency translation adjustment, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $34.00K USD 1 Quarter
Net unrealized gains (losses) on investments, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $9.00M USD 1 Quarter
Net unrealized gains (losses) on investments, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.53M USD 1 Quarter
Net actuarial gains (losses) OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Net actuarial gains (losses) OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $-178.00K USD 1 Quarter
Balance, end of period StockholdersEquity $2.87B USD Point-in-time
Balance, end of period StockholdersEquity $2.92B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $76.47M USD 1 Quarter
Net income NetIncomeLoss $66.25M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $7.37M USD 1 Quarter
Unrealized holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $39.37M USD 1 Quarter
Less: Reclassification adjustment for net gains (losses) included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-2.16M USD 1 Quarter
Less: Reclassification adjustment for net gains (losses) included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-1.63M USD 1 Quarter
Net unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $9.00M USD 1 Quarter
Net unrealized gains (losses) on investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.53M USD 1 Quarter
Net foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-85.00K USD 1 Quarter
Net foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $34.00K USD 1 Quarter
Net actuarial gains (losses) OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Net actuarial gains (losses) OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $-178.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $9.03M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $41.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $107.52M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $85.50M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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