AMBAC FINANCIAL GROUP INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
OSG$5.41+2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| (Dollars in millions) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net income (loss) attributable to common stockholders | $(8) | $19 |
| Redeemable noncontrolling interest | 1 | (1) |
| Net income (loss) | (9) | 21 |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation | 2 | 1 |
| Amortization of bond premium and discount | (13) | (10) |
| Share-based compensation | 6 | 12 |
| Unearned premiums, net | (2) | (46) |
| Losses and loss expenses, net | 3 | 66 |
| Ceded premiums payable | 75 | 56 |
| Premium receivables | (52) | (8) |
| Accrued interest payable | 40 | (13) |
| Amortization of intangible assets | 33 | 21 |
| Net investment gains (losses), including impairments | (3) | 7 |
| Variable interest entity activities | (5) | — |
| Other, net | (46) | 7 |
| Net cash provided by (used in) operating activities | 28 | 112 |
| Cash flows from investing activities: | ||
| Proceeds from sales of bonds | 193 | 113 |
| Proceeds from matured bonds | 126 | 58 |
| Purchases of bonds | (358) | (291) |
| Proceeds from sales of other invested assets | 101 | 189 |
| Purchases of other invested assets | (132) | (62) |
| Change in short-term investments | 147 | 125 |
| Change in cash collateral | (2) | (29) |
| Change in consolidated VIE cash collateral | (195) | 254 |
| Proceeds from paydowns of consolidated VIE assets | 127 | 161 |
| Acquisitions, net of cash acquired | (215) | (7) |
| Proceeds from sale of subsidiary, net of cash transferred | 14 | — |
| Other, net | (8) | 8 |
| Net cash provided by (used in) investing activities | (200) | 521 |
| Cash flows from financing activities: | ||
| Proceeds from short-term debt | 147 | — |
| Payments for purchases of common stock | — | (5) |
| Payments for redemption of Tier 2 Notes | — | (97) |
| Tax payments related to shares withheld for share-based compensation plans | (1) | (5) |
| Distributions to noncontrolling interest holders | (2) | (1) |
| Payments of consolidated VIE liabilities, net | (131) | (285) |
| Net cash provided by (used in) financing activities | 14 | (392) |
| Effect of foreign exchange on cash, cash equivalents and restricted cash | $— | $— |
| Net cash flow | (158) | 241 |
| Cash, cash equivalents, and restricted cash at beginning of period | 274 | 61 |
| Cash, cash equivalents, and restricted cash at end of period | $117 | $302 |
| Ambac Financial Group, Inc. | 5 | Third Quarter 2024 Form 10-Q |
|---|
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