2022 Q4 Form 10-Q Financial Statement

#000087450122000158 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $72.00M $80.00M $51.00M
YoY Change 28.57% 56.86% -17.74%
Cost Of Revenue -$353.0M -$55.00M
YoY Change 541.82%
Gross Profit $433.0M $106.0M
YoY Change 308.49%
Gross Profit Margin 541.25% 207.84%
Selling, General & Admin $51.00M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.00M $0.00 $11.00M
YoY Change 16.67% -100.0% -21.43%
% of Gross Profit 0.0% 10.38%
Operating Expenses $12.00M $37.00M -$12.00M
YoY Change -61.29% -408.33% -109.92%
Operating Profit $396.0M $118.0M
YoY Change 235.59%
Interest Expense -$36.00M $49.00M -$41.00M
YoY Change -20.0% -219.51% -22.64%
% of Operating Profit 12.37% -34.75%
Other Income/Expense, Net -$1.000M
YoY Change -200.0%
Pretax Income $173.0M $342.0M $19.00M
YoY Change -1010.53% 1700.0% -117.59%
Income Tax -$2.000M $2.000M $2.000M
% Of Pretax Income -1.16% 0.58% 10.53%
Net Earnings $178.0M $340.0M $17.00M
YoY Change -990.0% 1900.0% -115.74%
Net Earnings / Revenue 247.22% 425.0% 33.33%
Basic Earnings Per Share $7.50 $0.35
Diluted Earnings Per Share $3.82 $7.41 $0.35
COMMON SHARES
Basic Shares Outstanding 44.97M shares 44.96M shares 46.62M shares
Diluted Shares Outstanding 45.85M shares 47.04M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.997B
YoY Change
Cash & Equivalents $31.00M $29.00M $14.00M
Short-Term Investments $1.966B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $21.00M
YoY Change -8.7%
Goodwill $61.00M $46.00M
YoY Change 32.61%
Intangibles $326.0M $318.0M $364.0M
YoY Change -9.94% -12.64% -4.96%
Long-Term Investments $6.389B $6.441B $9.049B
YoY Change -30.01% -28.82% 18367.35%
Other Assets $17.00M $8.000M $8.000M
YoY Change 142.86% 0.0% -33.33%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.973B $9.412B $12.23B
YoY Change -35.19% -23.03% -4.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $452.0M $576.0M $555.0M
YoY Change -21.53% 3.78% 11.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $452.0M $576.0M $557.0M
YoY Change -21.53% 3.41% 11.62%
LONG-TERM LIABILITIES
Long-Term Debt $3.746B $4.953B $6.470B
YoY Change -41.89% -23.45% -6.31%
Other Long-Term Liabilities $1.235B $1.394B $2.032B
YoY Change -43.02% -31.42% 2.21%
Total Long-Term Liabilities $4.981B $6.347B $8.502B
YoY Change -42.17% -25.35% -4.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $452.0M $576.0M $557.0M
Total Long-Term Liabilities $4.981B $6.347B $8.502B
Total Liabilities $6.647B $8.324B $11.09B
YoY Change -40.58% -24.93% -5.38%
SHAREHOLDERS EQUITY
Retained Earnings $1.245B $1.068B $746.0M
YoY Change 71.49% 43.16% -3.49%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.00M $15.00M $3.000M
YoY Change 400.0% 400.0% 200.0%
Treasury Stock Shares 1.685M shares 1.695M shares 185.0K shares
Shareholders Equity $1.252B $1.009B $1.061B
YoY Change
Total Liabilities & Shareholders Equity $7.973B $9.412B $12.23B
YoY Change -35.19% -23.03% -4.56%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $178.0M $340.0M $17.00M
YoY Change -990.0% 1900.0% -115.74%
Depreciation, Depletion And Amortization $14.00M $0.00 $11.00M
YoY Change 16.67% -100.0% -21.43%
Cash From Operating Activities $1.277B $48.00M -$52.00M
YoY Change 25440.0% -192.31% -5.45%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $431.0M -$5.000M $558.0M
YoY Change 1290.32% -100.9% 342.86%
Cash From Investing Activities $431.0M -$5.000M $558.0M
YoY Change 1290.32% -100.9% 342.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.684B -45.00M -516.0M
YoY Change 4852.94% -91.28% 838.18%
NET CHANGE
Cash From Operating Activities 1.277B 48.00M -52.00M
Cash From Investing Activities 431.0M -5.000M 558.0M
Cash From Financing Activities -1.684B -45.00M -516.0M
Net Change In Cash 24.00M -2.000M -10.00M
YoY Change 1100.0% -80.0% -162.5%
FREE CASH FLOW
Cash From Operating Activities $1.277B $48.00M -$52.00M
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:3pt;margin-top:12pt"><span style="color:#00497f;font-family:'Times New Roman',sans-serif;font-size:13pt;font-weight:700;line-height:120%">Reclassifications and Rounding</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Reclassifications may have been made to prior years' amounts to conform to the current year's presentation. Certain amounts and tables in the consolidated financial statements and associated notes may not add due to rounding.</span></div>
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
342000000 usd
CY2022Q3 us-gaap Assets
Assets
9412000000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 level3financialinstruments
CY2022Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
CY2022Q3 us-gaap Net Investment Income
NetInvestmentIncome
11000000 usd
CY2022Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
37000000 usd
CY2022Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
7000000 usd
CY2022Q3 ambc Other Revenues Operating
OtherRevenuesOperating
14000000 usd
CY2022Q3 us-gaap Revenues
Revenues
80000000 usd
CY2022Q3 us-gaap Incurred Claims Financial Guarantee Insurance Contracts
IncurredClaimsFinancialGuaranteeInsuranceContracts
-353000000 usd
CY2022Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
32000000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
0 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6000000 usd
CY2022Q3 us-gaap Insurance Commissions
InsuranceCommissions
4000000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
49000000 usd
CY2022Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
-262000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
39000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
-6000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
124000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
57000000 usd
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
22000000 usd
ambc Other Revenues Operating
OtherRevenuesOperating
50000000 usd
us-gaap Revenues
Revenues
286000000 usd
us-gaap Incurred Claims Financial Guarantee Insurance Contracts
IncurredClaimsFinancialGuaranteeInsuranceContracts
-341000000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
90000000 usd
us-gaap Depreciation
Depreciation
1000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
34000000 usd
us-gaap Insurance Commissions
InsuranceCommissions
13000000 usd
us-gaap Interest Expense
InterestExpense
138000000 usd
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
-66000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
352000000 usd
CY2021Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
112000000 usd
CY2021Q3 us-gaap Net Investment Income
NetInvestmentIncome
21000000 usd
CY2021Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
5000000 usd
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2021Q3 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
7000000 usd
CY2021Q3 ambc Other Revenues Operating
OtherRevenuesOperating
7000000 usd
CY2021Q3 us-gaap Revenues
Revenues
51000000 usd
CY2021Q3 us-gaap Incurred Claims Financial Guarantee Insurance Contracts
IncurredClaimsFinancialGuaranteeInsuranceContracts
-55000000 usd
CY2021Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
28000000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
0 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11000000 usd
CY2021Q3 us-gaap Insurance Commissions
InsuranceCommissions
4000000 usd
CY2021Q3 us-gaap Interest Expense
InterestExpense
44000000 usd
CY2021Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
32000000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
19000000 usd
CY2021Q3 us-gaap Assets
Assets
12228000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
36000000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
19000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
33000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
33000000 usd
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
20000000 usd
ambc Other Revenues Operating
OtherRevenuesOperating
9000000 usd
us-gaap Revenues
Revenues
229000000 usd
us-gaap Incurred Claims Financial Guarantee Insurance Contracts
IncurredClaimsFinancialGuaranteeInsuranceContracts
-73000000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
82000000 usd
us-gaap Depreciation
Depreciation
1000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
44000000 usd
us-gaap Insurance Commissions
InsuranceCommissions
11000000 usd
us-gaap Interest Expense
InterestExpense
144000000 usd
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
208000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21000000 usd
CY2022Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
2060000000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
116000000 usd
CY2022Q3 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
1977000000 usd
CY2021Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
2140000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
141000000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
16000000 usd
CY2021Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
2265000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
622000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
622000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
537000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
506000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
309000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
268000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
48000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
41000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1516000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
1437000000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2060000000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1977000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1039000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
72000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
244000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
43000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1283000000 usd
CY2022Q3 ambc Debt Securities Available For Sale Continuous Unrealized Loss Position
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition
1054000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
72000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
244000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
43000000 usd
CY2022Q3 ambc Debt Securities Available For Sale Unrealized Loss Position Including Pledged Securities
DebtSecuritiesAvailableForSaleUnrealizedLossPositionIncludingPledgedSecurities
1298000000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
116000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
768000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
14000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
41000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
810000000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
16000000 usd
CY2021Q4 ambc Debt Securities Available For Sale Continuous Unrealized Loss Position
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition
783000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
14000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
41000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1000000 usd
CY2021Q4 ambc Debt Securities Available For Sale Unrealized Loss Position Including Pledged Securities
DebtSecuritiesAvailableForSaleUnrealizedLossPositionIncludingPledgedSecurities
825000000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
16000000 usd
CY2022Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
2000000 usd
CY2021Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
4000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
4000000 usd
CY2022Q3 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
17000000 usd
CY2021Q3 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
15000000 usd
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
44000000 usd
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
59000000 usd
CY2022Q3 us-gaap Net Investment Income
NetInvestmentIncome
11000000 usd
CY2021Q3 us-gaap Net Investment Income
NetInvestmentIncome
21000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
-6000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
112000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
6000000 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1000000 usd
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
29000000 usd
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
9000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
1000000 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 usd
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
17000000 usd
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
0 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
0 usd
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
0 usd
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotToSellBeforeRecoveryCreditLossPreviouslyRecordedExpenseReversal
0 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
0 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
0 usd
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
0 usd
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
0 usd
CY2022Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
14000000 usd
CY2021Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
3000000 usd
us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
31000000 usd
us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
4000000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q3 ambc Fair Value Of Securities Deposited With Governmental Authorities
FairValueOfSecuritiesDepositedWithGovernmentalAuthorities
22000000 usd
CY2021Q4 ambc Fair Value Of Securities Deposited With Governmental Authorities
FairValueOfSecuritiesDepositedWithGovernmentalAuthorities
17000000 usd
CY2022Q3 ambc Fair Valueof Securities Depositedin Connectionwtih Letterof Credit
FairValueofSecuritiesDepositedinConnectionwtihLetterofCredit
1000000 usd
CY2021Q4 ambc Fair Valueof Securities Depositedin Connectionwtih Letterof Credit
FairValueofSecuritiesDepositedinConnectionwtihLetterofCredit
1000000 usd
CY2022Q3 ambc Fair Value Of Securities Held By Ambac Uk Where Capital Stock Of Auk Is Pledged As Collateral For Sitka Aac Note
FairValueOfSecuritiesHeldByAmbacUKWhereCapitalStockOfAUKIsPledgedAsCollateralForSitkaAACNote
550000000 usd
CY2021Q4 ambc Fair Value Of Securities Held By Ambac Uk Where Capital Stock Of Auk Is Pledged As Collateral For Sitka Aac Note
FairValueOfSecuritiesHeldByAmbacUKWhereCapitalStockOfAUKIsPledgedAsCollateralForSitkaAACNote
669000000 usd
CY2022Q3 ambc Equity Securities Excluded From Fair Value
EquitySecuritiesExcludedFromFairValue
12000000 usd
CY2021Q4 ambc Equity Securities Excluded From Fair Value
EquitySecuritiesExcludedFromFairValue
8000000 usd
CY2022Q3 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
-7000000 usd
CY2021Q3 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
NetRealizedOrUnrealizedGainLossOnTradingSecurities
0 usd
CY2022Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-1000000 usd
CY2021Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 usd
CY2022Q3 ambc Equity Securities Excluded From Fair Value
EquitySecuritiesExcludedFromFairValue
12000000 usd
CY2021Q4 ambc Equity Securities Excluded From Fair Value
EquitySecuritiesExcludedFromFairValue
8000000 usd
CY2022Q3 ambc Fair Value Inputs Yield Rate
FairValueInputsYieldRate
0.151
CY2021Q4 ambc Fair Value Inputs Yield Rate
FairValueInputsYieldRate
0.116
ambc Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Or Liability Transfers Into Or Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersIntoOrOutOfLevel3
0 level3financialinstruments
ambc Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Or Liability Transfers Into Or Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersIntoOrOutOfLevel3
0 level3financialinstruments
CY2022Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
16000000 usd
CY2022Q3 us-gaap Direct Premiums Earned
DirectPremiumsEarned
30000000 usd
CY2021Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
-1000000 usd
CY2021Q3 us-gaap Direct Premiums Earned
DirectPremiumsEarned
15000000 usd
CY2022Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
CY2022Q3 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
CY2021Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
CY2021Q3 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
CY2022Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
17000000 usd
CY2022Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
19000000 usd
CY2021Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
14000000 usd
CY2021Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
4000000 usd
CY2022Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
0 usd
CY2022Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
CY2021Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
-15000000 usd
CY2021Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
83000000 usd
us-gaap Direct Premiums Earned
DirectPremiumsEarned
83000000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
-6000000 usd
us-gaap Direct Premiums Earned
DirectPremiumsEarned
46000000 usd
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
us-gaap Ceded Premiums Written
CededPremiumsWritten
63000000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
43000000 usd
us-gaap Ceded Premiums Written
CededPremiumsWritten
29000000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
10000000 usd
us-gaap Premiums Written Net
PremiumsWrittenNet
21000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
39000000 usd
us-gaap Premiums Written Net
PremiumsWrittenNet
-36000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
36000000 usd
CY2022Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
CY2021Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
11000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
39000000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
36000000 usd
CY2022Q3 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
268000000 usd
CY2021Q4 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
323000000 usd
CY2022Q3 ambc Estimated Future Premium Payments Weighted Average Discounted Rate
EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate
0.029
CY2021Q4 ambc Estimated Future Premium Payments Weighted Average Discounted Rate
EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate
0.022
us-gaap Financial Guarantee Insurance Contracts Premium Received Over Contract Period Premium Receivable Weighted Average Collection Period1
FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1
P8Y1M6D
CY2021 us-gaap Financial Guarantee Insurance Contracts Premium Received Over Contract Period Premium Receivable Weighted Average Collection Period1
FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1
P8Y
CY2022Q3 us-gaap Premiums Receivable Gross
PremiumsReceivableGross
264000000 usd
CY2021Q4 us-gaap Premiums Receivable Gross
PremiumsReceivableGross
329000000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
6000000 usd
CY2021Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
11000000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
9000000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
17000000 usd
CY2022Q3 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-1000000 usd
CY2021Q3 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-1000000 usd
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-3000000 usd
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-6000000 usd
CY2022Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
0 usd
CY2021Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
0 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
0 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Write Offs Against Allowance
PremiumsReceivableAllowanceForDoubtfulAccountsWriteOffsAgainstAllowance
-1000000 usd
CY2022Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
0 usd
CY2021Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
0 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
0 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
0 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
6000000 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
10000000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
6000000 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
10000000 usd
CY2022Q3 ambc Past Due Premiums
PastDuePremiums
0 usd
CY2021Q3 ambc Past Due Premiums
PastDuePremiums
0 usd
CY2021Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
320000000 usd
CY2020Q4 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
370000000 usd
us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
-30000000 usd
us-gaap Financial Guarantee Insurance Contracts Premium Receivable Proceeds From Premiums Received
FinancialGuaranteeInsuranceContractsPremiumReceivableProceedsFromPremiumsReceived
-28000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
-21000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Change In Period Of Contract
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentChangeInPeriodOfContract
-25000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
6000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
6000000 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Period Increase Decrease
PremiumsReceivableAllowanceForDoubtfulAccountsPeriodIncreaseDecrease
3000000 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Period Increase Decrease
PremiumsReceivableAllowanceForDoubtfulAccountsPeriodIncreaseDecrease
7000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Other Adjustments
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentOtherAdjustments
-20000000 usd
us-gaap Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Other Adjustments
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentOtherAdjustments
-4000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
259000000 usd
CY2021Q3 us-gaap Financial Guarantee Insurance Contracts Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumReceivable
325000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected During Fourth Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate
6000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized During Fourth Quarter Following Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFourthQuarterFollowingBalanceSheetDate
6000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than One And Within Two Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate
27000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than One And Within Two Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate
21000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than Two And Within Three Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate
26000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than Two And Within Three Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate
20000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than Three And Within Four Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate
25000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than Three And Within Four Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate
20000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than Four And Within Five Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate
24000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than Four And Within Five Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate
19000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than Five And Within10 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate
102000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than Five And Within10 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFiveAndWithin10YearsFromBalanceSheetDate
80000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than10 And Within15 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate
67000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than10 And Within15 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate
50000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than15 And Within20 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate
31000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than15 And Within20 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan15AndWithin20YearsFromBalanceSheetDate
20000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than20 And Within25 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate
15000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than20 And Within25 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate
9000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than25 And Within30 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan25AndWithin30YearsFromBalanceSheetDate
5000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than25 And Within30 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan25AndWithin30YearsFromBalanceSheetDate
3000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than30 And Within35 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate
0 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than30 And Within35 Years From Balance Sheet Date
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan30AndWithin35YearsFromBalanceSheetDate
0 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Premium Receivable Premium Expected To Be Collected
FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected
328000000 usd
CY2022Q3 us-gaap Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized
FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognized
248000000 usd
CY2022Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1009000000 usd
CY2022Q3 us-gaap Salvage And Subrogation Recoveries Value
SalvageAndSubrogationRecoveriesValue
1949000000 usd
CY2022Q3 ambc Liability For Claim And Claim Adjustment Expenses Net Of Subrogation Recoverables
LiabilityForClaimAndClaimAdjustmentExpensesNetOfSubrogationRecoverables
-940000000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1570000000 usd
us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
-2000000 usd
CY2021Q4 us-gaap Salvage And Subrogation Recoveries Value
SalvageAndSubrogationRecoveriesValue
2092000000 usd
CY2021Q4 ambc Liability For Claim And Claim Adjustment Expenses Net Of Subrogation Recoverables
LiabilityForClaimAndClaimAdjustmentExpensesNetOfSubrogationRecoverables
-522000000 usd
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Below is the loss and loss reserve expense roll-forward, net of subrogation recoverable and reinsurance, for the affected periods:</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.371%"><tr><td style="width:1.0%"/><td style="width:58.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.203%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.382%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.205%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Beginning gross loss and loss expense reserves</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(522)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(397)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reinsurance recoverable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</span><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Beginning balance of net loss and loss expense reserves</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(578)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(430)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Losses and loss expenses (benefit):</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(347)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(73)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(341)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(73)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Loss and loss expenses paid (recovered):</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(195)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(195)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange effect</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ending net loss and loss expense reserves </span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(727)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(577)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impact of VIE consolidation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(292)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reinsurance recoverable </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">79</span><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ending gross loss and loss expense reserves</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#2a1aff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(940)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(549)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:3pt;margin-top:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Total losses and loss expenses (benefit) includes $(30) and $2 for the nine months ended September 30, 2022 and 2021, respectively, related to ceded reinsurance.</span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Ambac records the impact of estimated recoveries related to securitized loans in RMBS transactions that breached certain representations and warranties ("R&amp;W's) by transaction sponsors within losses and loss expenses (benefit) for the Legacy Financial Guarantee segment. The losses and loss expense incurred associated with changes in estimated R&amp;W's for the nine months ended September 30, 2022 and 2021, was $80 and $19, respectively. Refer to Note 1. Background and Business Description to the Unaudited Consolidated Financial Statements in this Form 10-Q for details of the Settlement Agreement with Bank of America Corporation and certain affiliates in October 2022. </span></div><div style="margin-bottom:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Represents reinsurance recoverable on future loss and loss expenses. Additionally, the Balance Sheet line "Reinsurance recoverable on paid and unpaid losses" includes reinsurance recoverables (payables) of $1 and $1 as of September 30, 2022 and 2021, respectively, related to previously presented loss and loss expenses and subrogation.</span></div>
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CY2020Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
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us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
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us-gaap Payments For Losses And Loss Adjustment Expense
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us-gaap Payments For Losses And Loss Adjustment Expense
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Translation Gain Loss
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CY2021Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
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CY2021Q3 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
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CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding
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CY2022Q3 ambc Public Finance Puerto Rico Net Par Outstanding
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CY2022Q1 ambc Aac Insured Gopba Bonds Satisfied Or Eliminated
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CY2022Q1 ambc Percent Of Par Of Aa Cs Outstanding Aac Insured Prifa Eliminated
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CY2021Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2000000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6000000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15000000 usd
ambc Retiree Committee Asserted Pension Liabilities
RetireeCommitteeAssertedPensionLiabilities
58500000000 usd
ambc Aac Asserted Pension Liability Overstatement
AACAssertedPensionLiabilityOverstatement
9000000000 usd

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