Ambac Financial 10K 2017 Annual report | AMBC Filing

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigious
Readability	H.S. freshman Bad

New words: AAC, AAFAF, abetting, abroad, ACC, adjacent, adjudicated, advantage, aid, aided, aiding, Ambro, antecedent, apparent, appraisal, Aqueduct, attained, attainment, Augusta, Barbara, Bettina, bill, Bipartisan, Block, BNY, BNYM, body, BONY, border, BSA, budgetary, CCP, CDL, chain, chair, Chancery, choose, Christopher, circumstance, cited, citing, clarification, claw, concealment, conservation, conspired, constitutionality, constrain, contrary, contravention, conversion, conveyance, copy, Corrupt, COSSEC, count, defense, defraud, Dein, delegate, delineate, demographic, depiction, deployment, destruction, diminish, disciplined, disgorgement, dislocation, dissemination, dissipation, dissolution, drafted, DRF, EEA, electric, electrical, electricity, emanating, empowered, entrance, envisaged, EPS, ERS, evade, evidentiary, factually, FAFAA, feature, FEMA, fewer, fifteen, figure, forma, freedom, freestanding, frequency, front, fungible, GIC, GNP, GSS, HarborView, harmed, Head, headcount, hiding, highlighted, hinder, Houser, hurricane, IBA, ICE, IL, immateriality, imperil, incomplete, inference, inflicted, influx, instance, instructed, instruction, Intercontinental, interdisciplinary, interplead, interpleaded, interpleader, interrelated, invalidate, invited, Irish, Irma, irreconcilable, irreparably, island, Japan, Joan, job, Jose, justiciable, Klein, landfall, Laura, left, lender, light, LSNI, Magistrate, mandate, manipulating, manufacturing, Maria, Marrero, metric, MHPI, milestone, Minnesota, Mnuchin, monoline, movement, multinational, Nancy, narrowly, Nipponkoa, Northern, novation, obviating, OID, outmigration, overcharge, overhaul, overruled, overturned, Pa, package, paper, passed, paydown, PBA, PCAOB, Peaje, people, persuade, phase, PHEAA, plausible, plausibly, plead, PR, PRASA, predicate, premised, PREPA, principle, privilege, prudent, question, Racketeer, RCB, rebuild, recoded, reevaluation, refraining, relax, remanded, repatriation, repeal, reprojected, rescinded, resigned, resume, revolving, rigging, ripe, ripened, RMG, role, Rossell, round, SAB, saleable, scalable, sealed, Secretary, secretly, sequestration, Sewer, shadow, solicitation, Sompo, sooner, Spanish, Steven, storm, stranded, styled, subtotal, sue, summer, superseded, supposedly, Swain, sweeping, synergistic, Taylor, TCJA, thirteenth, tied, transmission, trebled, true, unassigned, unchanged, unconstitutional, Uniform, unlawfully, unliquidated, unlock, unnecessary, unsustainable, untaxed, Urban, validly, variation, venue, version, Victor, watch, Whyte, Wilmington, withdrew, worldwide, wrongdoing, WTC, zone

Removed: acceptance, aimed, Alameda, Antitrust, artificially, attack, attestation, authorize, averaged, barring, breaching, bylaw, Calif, calling, Carolina, Cartwright, chose, Civ, clause, Club, colluded, competed, Competition, compute, Contra, Costa, cyber, damaging, declining, demurrer, deposit, disburse, distinguish, downgraded, drawn, encouraged, entitle, equalizing, erode, exhaustion, exited, extremely, false, FAS, federally, FFELP, FIN, flux, fostering, Francisco, gaining, good, handling, implicated, imposition, indefinite, institute, introduce, Jewish, Juneau, lag, Las, Lastly, magnified, mechanism, memorialized, minimal, misleading, modestly, Monorail, multiplying, mutual, narrower, negotiation, nineteen, observe, Olympic, operative, outlying, oversee, partner, penalty, placement, precluded, presumption, PRM, Proc, procedural, promote, proportionally, proportionately, proposing, prototype, quickly, reaction, reallocation, recommending, reimbursable, reinstated, renewable, REO, reorganize, ResCap, retaining, reverse, revise, revising, satisfying, save, secondary, shock, simulated, SL, smaller, SP, subset, substantive, succeed, suspension, tenor, transacting, transferring, typical, Undercollateralized, Unfair, unguaranteed, unsettled, unwinding, VaR, VOE, widening



	Successor Ambac													Predecessor
											Period from May 1			Period from Jan 1
	Year Ended December 31,										through			through
($ in thousands, except ratios)	2017			2016			2015		2015		December 31, 2013			April 30, 2013
Earnings:
Pre-tax income (loss)	$	(284,251	)	$	105,026		510,058		493,253		$	512,316		$	3,348,033
Fixed Charges	114,306			119,503			115,016		127,754		84,736			30,342
Earnings	$	(169,945	)	$	224,529		625,074		621,007		$	597,052		$	3,378,375

Fixed charges:
Interest expense	$	113,400		$	118,500		113,100		125,891		$	83,595		$	29,718
Portion of rental expense deemed to be interest	906			1,003			1,916		1,863		1,141			624
Fixed charges	$	114,306		$	119,503		115,016		127,754		$	84,736		$	30,342

Ratio of earnings to fixed charges	*			1.9		x	5.4	x	4.9	x	7.0		x	111.3		x


*	Earning for the year ended December 31, 2017 were inadequate to cover fixed charges by $284,251.

Ambac Financial (AMBC) 10-K2017 FY Annual report

Content analysis