2021 Form 10-K Financial Statement
#000119312522058160 Filed on February 28, 2022
Income Statement
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| Revenue | $159.0M | $282.0M | $348.0M |
| YoY Change | -43.62% | -18.97% | 114.81% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | |||
| YoY Change | |||
| % of Gross Profit | |||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | |||
| YoY Change | |||
| % of Gross Profit | |||
| Operating Expenses | $453.0M | $632.0M | $354.0M |
| YoY Change | -28.32% | 78.53% | 289.01% |
| Operating Profit | |||
| YoY Change | |||
| Interest Expense | -$181.0M | -$228.0M | -$283.0M |
| YoY Change | -20.61% | -19.43% | -237.38% |
| % of Operating Profit | |||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$445.0M | -$578.0M | -$357.0M |
| YoY Change | -23.01% | 61.9% | 20.61% |
| Income Tax | $0.00 | $0.00 | $2.000M |
| % Of Pretax Income | |||
| Net Earnings | -$445.0M | -$578.0M | -$359.0M |
| YoY Change | -23.01% | 61.0% | 21.28% |
| Net Earnings / Revenue | -279.87% | -204.96% | -103.16% |
| Basic Earnings Per Share | -$8.99 | -$9.78 | |
| Diluted Earnings Per Share | -$8.995M | -$9.780M | -$4.432M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 49.50M | 59.10M | 81.00M |
| Diluted Shares Outstanding | 49.50M | 59.10M |
Balance Sheet
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | |||
| YoY Change | |||
| Cash & Equivalents | $151.0M | $158.0M | $75.00M |
| 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 | $18.00M | $20.00M | $21.00M |
| YoY Change | -10.0% | -4.76% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $2.930B | $3.537B | $5.057B |
| YoY Change | -17.16% | -30.06% | -11.42% |
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | |||
| YoY Change | |||
| TOTAL ASSETS | |||
| Total Short-Term Assets | |||
| Total Long-Term Assets | |||
| Total Assets | $4.696B | $5.751B | $7.284B |
| YoY Change | -18.34% | -21.05% | -10.15% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | |||
| YoY Change | |||
| Accrued Expenses | $18.00M | $20.00M | $21.00M |
| YoY Change | -10.0% | -4.76% | |
| 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 | $18.00M | $20.00M | $21.00M |
| YoY Change | -10.0% | -4.76% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $3.486B | $3.831B | $4.736B |
| YoY Change | -9.01% | -19.11% | -5.53% |
| Other Long-Term Liabilities | $276.0M | $356.0M | $305.0M |
| YoY Change | -22.47% | 16.72% | -25.61% |
| Total Long-Term Liabilities | $3.762B | $4.187B | $5.041B |
| YoY Change | -10.15% | -16.94% | -7.04% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $18.00M | $20.00M | $21.00M |
| Total Long-Term Liabilities | $3.762B | $4.187B | $5.041B |
| Total Liabilities | $4.996B | $5.602B | $6.445B |
| YoY Change | -10.82% | -13.08% | -7.6% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | |||
| YoY Change | |||
| Common Stock | |||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$300.0M | $149.0M | $839.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $4.696B | $5.751B | $7.284B |
| YoY Change | -18.34% | -21.05% | -10.15% |
Cashflow Statement
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$445.0M | -$578.0M | -$359.0M |
| YoY Change | -23.01% | 61.0% | 21.28% |
| Depreciation, Depletion And Amortization | |||
| YoY Change | |||
| Cash From Operating Activities | $511.0M | -$390.0M | -$368.0M |
| YoY Change | -231.03% | 5.98% | 15.36% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$1.000M | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$60.00M | $1.738B | $1.267B |
| YoY Change | -103.45% | 37.17% | |
| Cash From Investing Activities | -$61.00M | $1.738B | $1.267B |
| YoY Change | -103.51% | 37.17% | 5.06% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | $0.00 | ||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -457.0M | -1.265B | -1.096B |
| YoY Change | -63.87% | 15.42% | 45.74% |
| NET CHANGE | |||
| Cash From Operating Activities | 511.0M | -390.0M | -368.0M |
| Cash From Investing Activities | -61.00M | 1.738B | 1.267B |
| Cash From Financing Activities | -457.0M | -1.265B | -1.096B |
| Net Change In Cash | -7.000M | 83.00M | -197.0M |
| YoY Change | -108.43% | -142.13% | -245.93% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $511.0M | -$390.0M | -$368.0M |
| Capital Expenditures | -$1.000M | $0.00 | $0.00 |
| Free Cash Flow | $512.0M | -$390.0M | -$368.0M |
| YoY Change | -231.28% | 5.98% | 15.0% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q4 | us-gaap |
Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2021-01-31#OperatingLeaseLiability | |
| CY2019 | mbi |
Premiums Written Financial Guarantee Insurance Contracts Percentage Of Amount Assumed To Net
PremiumsWrittenFinancialGuaranteeInsuranceContractsPercentageOfAmountAssumedToNet
|
0 | |
| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2021-01-31#OperatingLeaseRightOfUseAsset | |
| CY2021 | us-gaap |
Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
|
5000000 | |
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Financial Guarantee Insurance Contracts Premiums Receivable Adjustment Other Adjustments
FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentOtherAdjustments
|
6000000 | |
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Financial Guarantee Insurance Contracts Premiums Receivable Accretion Of Discount On Premium Receivable
FinancialGuaranteeInsuranceContractsPremiumsReceivableAccretionOfDiscountOnPremiumReceivable
|
6000000 | |
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FinancialGuaranteeInsuranceContractsPremiumsReceivableAdjustmentOtherAdjustments
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8000000 | |
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Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding
|
106 | |
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4091000000 | |
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Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest
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3082000000 | |
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7173000000 | |
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Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability
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|
1051000000 | |
| CY2021Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries
|
1498000000 | |
| CY2021Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Net Discount
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityNetDiscount
|
32000000 | |
| CY2021Q4 | us-gaap |
Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
|
7000000 | |
| CY2020Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding
|
119 | |
| CY2020Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Principal
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingPrincipal
|
4847000000 | |
| CY2020Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest
|
3469000000 | |
| CY2020Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding
|
8316000000 | |
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Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability
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1088000000 | |
| CY2020Q4 | us-gaap |
Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries
|
1947000000 | |
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Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Net Discount
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityNetDiscount
|
173000000 | |
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Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
|
11000000 | |
| CY2021 | mbi |
Revenue From Customers
RevenueFromCustomers
|
148000000 | |
| CY2021 | mbi |
Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
| CY2021 | mbi |
Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
| CY2020 | mbi |
Revenue From Customers
RevenueFromCustomers
|
199000000 | |
| CY2020 | mbi |
Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
| CY2020 | mbi |
Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
| CY2019 | mbi |
Revenue From Customers
RevenueFromCustomers
|
330000000 | |
| CY2019 | mbi |
Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
| CY2019 | mbi |
Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
0 | |
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Reinsurance Payable
ReinsurancePayable
|
48000000 | |
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
49500000 | |
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
59100000 | |
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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81000000.0 |
