2023 Q2 Form 10-Q Financial Statement

#000127381323000031 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $360.0M $283.0M
YoY Change 300.0% -5.67%
Cost Of Revenue $55.00M $4.000M
YoY Change -600.0% -92.98%
Gross Profit $305.0M $279.0M
YoY Change 201.98% 14.81%
Gross Profit Margin 84.72% 98.59%
Selling, General & Admin $70.00M $82.00M
YoY Change 18.64% 12.33%
% of Gross Profit 22.95% 29.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.000M $3.000M
YoY Change 0.0% -25.0%
% of Gross Profit 0.98% 1.08%
Operating Expenses $172.0M $118.0M
YoY Change 142.25% -16.9%
Operating Profit $133.0M $161.0M
YoY Change 343.33% 59.41%
Interest Expense $22.00M $21.00M
YoY Change 10.0% 5.0%
% of Operating Profit 16.54% 13.04%
Other Income/Expense, Net
YoY Change
Pretax Income $144.0M $120.0M
YoY Change -754.55% 29.03%
Income Tax $18.00M $23.00M
% Of Pretax Income 12.5% 19.17%
Net Earnings $125.0M $81.00M
YoY Change -365.96% 22.73%
Net Earnings / Revenue 34.72% 28.62%
Basic Earnings Per Share $2.09 $1.37
Diluted Earnings Per Share $2.06 $1.34
COMMON SHARES
Basic Shares Outstanding 59.34M shares 59.06M shares
Diluted Shares Outstanding 60.10M shares 60.40M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $184.0M $130.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.68B $13.70B
YoY Change -1.96% -7.23%
Other Assets $222.0M $227.0M
YoY Change 1791.67%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $16.85B $16.78B
YoY Change -0.64% -5.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
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
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $1.677B $1.676B
YoY Change 0.18% 0.18%
Other Long-Term Liabilities $5.723B $5.765B
YoY Change 5.65% -1.32%
Total Long-Term Liabilities $7.400B $7.441B
YoY Change 4.36% -0.98%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $7.400B $7.441B
Total Liabilities $11.40B $11.36B
YoY Change 0.04% -3.94%
SHAREHOLDERS EQUITY
Retained Earnings $5.732B $5.638B
YoY Change 1.06% -4.08%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.276B $5.220B
YoY Change
Total Liabilities & Shareholders Equity $16.85B $16.78B
YoY Change -0.64% -5.98%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $125.0M $81.00M
YoY Change -365.96% 22.73%
Depreciation, Depletion And Amortization $3.000M $3.000M
YoY Change 0.0% -25.0%
Cash From Operating Activities $124.0M $312.0M
YoY Change -113.75% -134.98%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$34.00M $1.000M
YoY Change -116.35% 0.0%
Cash From Investing Activities -$34.00M -$94.00M
YoY Change -116.35% -111.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.00M -$296.0M
YoY Change -105.53% 2860.0%
NET CHANGE
Cash From Operating Activities 124.0M $312.0M
Cash From Investing Activities -34.00M -$94.00M
Cash From Financing Activities -37.00M -$296.0M
Net Change In Cash 53.00M -$77.00M
YoY Change -312.0% 45.28%
FREE CASH FLOW
Cash From Operating Activities $124.0M $312.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022Q1 ago Reinsurance Recoverables Periodafter Endof Reporting Periodfor Settlementof Ceded Paid Losses
ReinsuranceRecoverablesPeriodafterEndofReportingPeriodforSettlementofCededPaidLosses
P45D
CY2023Q1 ago Reinsurance Recoverables Periodafter Endof Reporting Periodfor Settlementof Ceded Paid Losses
ReinsuranceRecoverablesPeriodafterEndofReportingPeriodforSettlementofCededPaidLosses
P45D
CY2023Q1 ago Insured Financial Obligations Liabilityfor Unpaid Claims Adjustment Expense Claims Paid
InsuredFinancialObligationsLiabilityforUnpaidClaimsAdjustmentExpenseClaimsPaid
3000000 usd
CY2022Q1 ago Insured Financial Obligations Liabilityfor Unpaid Claims Adjustment Expense Claims Paid
InsuredFinancialObligationsLiabilityforUnpaidClaimsAdjustmentExpenseClaimsPaid
13000000 usd
CY2023Q1 ago Expected Loss Adjustment Expense To Be Paid
ExpectedLossAdjustmentExpenseToBePaid
9000000 usd
CY2022Q4 ago Expected Loss Adjustment Expense To Be Paid
ExpectedLossAdjustmentExpenseToBePaid
11000000 usd
CY2023Q1 ago Additional Loss Recovery Assumption Recovery Period
AdditionalLossRecoveryAssumptionRecoveryPeriod
P5Y
CY2023Q1 ago Financial Guarantee Insurance Contracts Scheduled Net Earned Premiums
FinancialGuaranteeInsuranceContractsScheduledNetEarnedPremiums
69000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Scheduled Net Earned Premiums
FinancialGuaranteeInsuranceContractsScheduledNetEarnedPremiums
79000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Accelerated Premium Revenue Amount
FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount
4000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Accelerated Premium Revenue Amount
FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount
128000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Net Premiums Receivable Adjustment Accretionof Discounton Net Premium Receivable
FinancialGuaranteeInsuranceContractsNetPremiumsReceivableAdjustmentAccretionofDiscountonNetPremiumReceivable
-7000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Net Premiums Receivable Adjustment Accretionof Discounton Net Premium Receivable
FinancialGuaranteeInsuranceContractsNetPremiumsReceivableAdjustmentAccretionofDiscountonNetPremiumReceivable
-6000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Premiums Earned Net
FinancialGuaranteeInsuranceContractsPremiumsEarnedNet
80000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Premiums Earned Net
FinancialGuaranteeInsuranceContractsPremiumsEarnedNet
213000000 usd
CY2023Q1 ago Premiums Earned Net Specialty Insuranceand Reinsurance
PremiumsEarnedNetSpecialtyInsuranceandReinsurance
1000000 usd
CY2022Q1 ago Premiums Earned Net Specialty Insuranceand Reinsurance
PremiumsEarnedNetSpecialtyInsuranceandReinsurance
1000000 usd
CY2023Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
81000000 usd
CY2022Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
214000000 usd
CY2022Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1298000000 usd
CY2021Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1372000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2022Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other Non Financial Guarantee
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOtherNonFinancialGuarantee
1297000000 usd
CY2021Q4 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other Non Financial Guarantee
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOtherNonFinancialGuarantee
1371000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable New Business Written
FinancialGuaranteeInsuranceContractsPremiumReceivableNewBusinessWritten
79000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable New Business Written
FinancialGuaranteeInsuranceContractsPremiumReceivableNewBusinessWritten
61000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
64000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
83000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
6000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
8000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
7000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
6000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Foreign Exchange Translation
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentForeignExchangeTranslation
20000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Foreign Exchange Translation
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentForeignExchangeTranslation
-29000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other Non Financial Guarantee
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOtherNonFinancialGuarantee
1345000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Premium Receivable Excluding Other Non Financial Guarantee
FinancialGuaranteeInsuranceContractsPremiumReceivableExcludingOtherNonFinancialGuarantee
1334000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2022Q1 ago Financial Guarantee Insurance Contracts Premium Receivable Specialty Insurance
FinancialGuaranteeInsuranceContractsPremiumReceivableSpecialtyInsurance
1000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1346000000 usd
CY2022Q1 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
1335000000 usd
CY2023Q1 us-gaap Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate
FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate
0.0384
CY2022 us-gaap Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate
FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate
0.0415
CY2023Q1 ago Reserve For Losses And Loss Adjustment Expenses Net Of Reinsurance And Salvage And Subrogation Recoveries
ReserveForLossesAndLossAdjustmentExpensesNetOfReinsuranceAndSalvageAndSubrogationRecoveries
32000000 usd
CY2022Q4 ago Reserve For Losses And Loss Adjustment Expenses Net Of Reinsurance And Salvage And Subrogation Recoveries
ReserveForLossesAndLossAdjustmentExpensesNetOfReinsuranceAndSalvageAndSubrogationRecoveries
37000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed During First Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedDuringFirstQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensed During Second Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedDuringSecondQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed During Fourth Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedDuringFourthQuarterFollowingBalanceSheetDate
3000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed During Remainder Of Fiscal Year Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedDuringRemainderOfFiscalYearFollowingBalanceSheetDate
9000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed In First Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedInFirstFullFiscalYear
12000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Second Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinSecondFullFiscalYear
12000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Third Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinThirdFullFiscalYear
17000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Losstobe Expensedin Fourth Full Fiscal Year
FinancialGuaranteeInsuranceContractsFutureExpectedNetLosstobeExpensedinFourthFullFiscalYear
15000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed More Than Four And Within9 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedMoreThanFourAndWithin9YearsFromBalanceSheetDate
61000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed More Than9 And Within14 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedMoreThan9AndWithin14YearsFromBalanceSheetDate
49000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed More Than14 And Within19 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedMoreThan14AndWithin19YearsFromBalanceSheetDate
8000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Future Expected Net Loss To Be Expensed Beyond Nineteenth Fiscal Year From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedNetLossToBeExpensedBeyondNineteenthFiscalYearFromBalanceSheetDate
12000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Net Losstobe Expensed Present Value
FinancialGuaranteeInsuranceContractsNetLosstobeExpensedPresentValue
195000000 usd
CY2023Q1 ago Scheduleof Insured Financial Obligationswith Credit Deterioration Reductionsof Gross Claim Liability Netof Reinsurance Recoverable Discount
ScheduleofInsuredFinancialObligationswithCreditDeteriorationReductionsofGrossClaimLiabilityNetofReinsuranceRecoverableDiscount
66000000 usd
CY2023Q1 ago Financial Guarantee Insurance Contracts Net Losstobe Expensed Undiscounted
FinancialGuaranteeInsuranceContractsNetLosstobeExpensedUndiscounted
261000000 usd
CY2023Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
4000000 usd
CY2022Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
57000000 usd
CY2023Q1 us-gaap Average Term Of Credit Risk Derivatives1
AverageTermOfCreditRiskDerivatives1
P12Y7M6D
CY2022 us-gaap Average Term Of Credit Risk Derivatives1
AverageTermOfCreditRiskDerivatives1
P12Y9M18D
CY2023Q1 ago Financial Guaranty Contracts Accountedforas Credit Derivatives Outstanding Principal Amount
FinancialGuarantyContractsAccountedforasCreditDerivativesOutstandingPrincipalAmount
3262000000 usd
CY2023Q1 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-148000000 usd
CY2022Q4 ago Financial Guaranty Contracts Accountedforas Credit Derivatives Outstanding Principal Amount
FinancialGuarantyContractsAccountedforasCreditDerivativesOutstandingPrincipalAmount
3203000000 usd
CY2022Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-162000000 usd
CY2022Q4 ago Expected Loss On Credit Derivative To Be Paid Recovered Including Representation And Warranty Liability Benefit
ExpectedLossOnCreditDerivativeToBePaidRecoveredIncludingRepresentationAndWarrantyLiabilityBenefit
3000000 usd
CY2023Q1 ago Expected Loss On Credit Derivative To Be Paid Recovered Including Representation And Warranty Liability Benefit
ExpectedLossOnCreditDerivativeToBePaidRecoveredIncludingRepresentationAndWarrantyLiabilityBenefit
3000000 usd
CY2023Q1 ago Credit Derivative Realized Gain Lossand Other Settlements
CreditDerivativeRealizedGainLossandOtherSettlements
1000000 usd
CY2022Q1 ago Credit Derivative Realized Gain Lossand Other Settlements
CreditDerivativeRealizedGainLossandOtherSettlements
-1000000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
14000000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-2000000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
15000000 usd
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-3000000 usd
CY2023Q1 ago Credit Risk Derivatives At Fair Value Before Effect Of Credit Spread Net
CreditRiskDerivativesAtFairValueBeforeEffectOfCreditSpreadNet
-209000000 usd
CY2022Q4 ago Credit Risk Derivatives At Fair Value Before Effect Of Credit Spread Net
CreditRiskDerivativesAtFairValueBeforeEffectOfCreditSpreadNet
-207000000 usd
CY2023Q1 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
61000000 usd
CY2022Q4 us-gaap Derivative Credit Risk Valuation Adjustment Derivative Liabilities
DerivativeCreditRiskValuationAdjustmentDerivativeLiabilities
45000000 usd
CY2023Q1 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-148000000 usd
CY2022Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-162000000 usd
CY2023Q1 ago Numberof Outside Managers Managing Investment Portfolio
NumberofOutsideManagersManagingInvestmentPortfolio
3 manager
CY2023Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
300000000 usd
CY2022Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
303000000 usd
CY2023Q1 us-gaap Short Term Investments
ShortTermInvestments
1273000000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
810000000 usd
CY2023Q1 us-gaap Investments
Investments
8582000000 usd
CY2022Q4 us-gaap Investments
Investments
8365000000 usd
CY2023Q1 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
76000000 usd
CY2022Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
71000000 usd
CY2023Q1 ago Percentageof Availableforsale Securitiesat Amortized Cost
PercentageofAvailableforsaleSecuritiesatAmortizedCost
1
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
7359000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
69000000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
75000000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
496000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
6869000000 usd
CY2022Q4 ago Percentageof Availableforsale Securitiesat Amortized Cost
PercentageofAvailableforsaleSecuritiesatAmortizedCost
1
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
7707000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
65000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
65000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
588000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
7119000000 usd
CY2023Q1 ago Government Agency Obligations As Percentage Of Total Mortgage Backed Securities
GovernmentAgencyObligationsAsPercentageOfTotalMortgageBackedSecurities
0.32
CY2022Q4 ago Government Agency Obligations As Percentage Of Total Mortgage Backed Securities
GovernmentAgencyObligationsAsPercentageOfTotalMortgageBackedSecurities
0.30
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1584000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
32000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2499000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
333000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
4083000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
365000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
602 security
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
1006 security
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1568 security
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
3751000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
213000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
1017000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
239000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
4768000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
452000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
1340 security
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
466 security
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
1776 security
CY2023Q1 ago Available For Sale Securities Continuous Unrealized Loss Position Greater Than10 Percent Of Book Value Twelve Months Or Longer Number
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionGreaterThan10PercentOfBookValueTwelveMonthsOrLongerNumber
482 security
CY2022Q4 ago Available For Sale Securities Continuous Unrealized Loss Position Greater Than10 Percent Of Book Value Twelve Months Or Longer Number
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionGreaterThan10PercentOfBookValueTwelveMonthsOrLongerNumber
567 security
CY2023Q1 ago Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Greater Than10 Percent Book Value Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerGreaterThan10PercentBookValueAggregateLosses
253000000 usd
CY2022Q4 ago Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Greater Than10 Percent Book Value Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerGreaterThan10PercentBookValueAggregateLosses
329000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
289000000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
9000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
283000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
1636000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1531000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
1720000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
1636000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenAmortizedCostBasis
3018000000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue
2811000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
7359000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
6869000000 usd
CY2023Q1 us-gaap Assets Held In Trust
AssetsHeldInTrust
229000000 usd
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
222000000 usd
CY2023Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
82000000 usd
CY2022Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63000000 usd
CY2023Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1000000 usd
CY2022Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1000000 usd
CY2023Q1 us-gaap Net Investment Income
NetInvestmentIncome
81000000 usd
CY2022Q1 us-gaap Net Investment Income
NetInvestmentIncome
62000000 usd
CY2023Q1 us-gaap Debt Securities Trading Unrealized Gain Loss
DebtSecuritiesTradingUnrealizedGainLoss
-2000000 usd
CY2022Q1 us-gaap Debt Securities Trading Unrealized Gain Loss
DebtSecuritiesTradingUnrealizedGainLoss
-4000000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2000000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-11000000 usd
CY2023Q1 us-gaap Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
-2000000 usd
CY2022Q1 us-gaap Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
-4000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
12000000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
2000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
-5000000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
-5000000 usd
CY2023Q1 ago Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
0 usd
CY2022Q1 ago Net Realized Investment Gains Losses
NetRealizedInvestmentGainsLosses
10000000 usd
CY2023Q1 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
-2000000 usd
CY2022Q1 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
3000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
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CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
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