$MBI
MBIA INC

2022 Q3 Form 10-Q Financial Statement

#000119312522211347 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $17.00M $40.00M $27.00M
YoY Change -69.64% 122.22% -73.79%
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 $6.000M $33.00M $141.0M
YoY Change -96.0% -2.94% 6.02%
Operating Profit
YoY Change
Interest Expense $46.00M $43.00M -$41.00M
YoY Change -202.22% 4.88% -19.61%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$35.00M -$36.00M -$155.0M
YoY Change -71.54% -40.98% 91.36%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$34.00M -$36.00M -$155.0M
YoY Change -72.36% -40.98% 91.36%
Net Earnings / Revenue -200.0% -90.0% -574.07%
Basic Earnings Per Share -$0.67 -$0.72
Diluted Earnings Per Share -$0.67 -$0.72 -$3.126M
COMMON SHARES
Basic Shares Outstanding 54.90M 49.80M
Diluted Shares Outstanding 49.90M 49.80M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $124.0M $207.0M $160.0M
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 $17.00M $18.00M $18.00M
YoY Change -10.53% -5.26% -10.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.200B $3.097B $2.930B
YoY Change 12.28% 3.61% -17.16%
Other Assets $132.0M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $4.015B $4.067B $4.696B
YoY Change -16.63% -22.56% -18.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $17.00M $18.00M $18.00M
YoY Change -10.53% -5.26% -10.0%
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 $17.00M $18.00M $18.00M
YoY Change -10.53% -5.26% -10.0%
LONG-TERM LIABILITIES
Long-Term Debt $3.325B $3.346B $3.486B
YoY Change -3.98% -8.08% -9.01%
Other Long-Term Liabilities $188.0M $176.0M $276.0M
YoY Change -38.96% -39.31% -22.47%
Total Long-Term Liabilities $3.513B $3.522B $3.762B
YoY Change -6.84% -10.38% -10.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.00M $18.00M $18.00M
Total Long-Term Liabilities $3.513B $3.522B $3.762B
Total Liabilities $4.864B $4.802B $4.996B
YoY Change -2.19% -8.97% -10.82%
SHAREHOLDERS EQUITY
Retained Earnings -$601.0M -$567.0M -$458.0M
YoY Change
Common Stock $283.0M $283.0M $283.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.152B $3.152B $3.169B
YoY Change
Treasury Stock Shares $228.3M $228.3M $228.6M
Shareholders Equity -$863.0M -$748.0M -$313.0M
YoY Change
Total Liabilities & Shareholders Equity $4.015B $4.067B $4.696B
YoY Change -16.63% -22.56% -18.34%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$34.00M -$36.00M -$155.0M
YoY Change -72.36% -40.98% 91.36%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$92.00M -$41.00M $152.0M
YoY Change -50.54% -356.25% -7700.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $67.00M $242.0M -$97.00M
YoY Change -54.42% -21.43% -112.6%
Cash From Investing Activities $67.00M $242.0M -$98.00M
YoY Change -54.42% -21.43% -112.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -57.00M -143.0M -6.000M
YoY Change -70.92% 45.92% -99.16%
NET CHANGE
Cash From Operating Activities -92.00M -41.00M 152.0M
Cash From Investing Activities 67.00M 242.0M -98.00M
Cash From Financing Activities -57.00M -143.0M -6.000M
Net Change In Cash -82.00M 58.00M 48.00M
YoY Change -65.11% -74.34% -12.73%
FREE CASH FLOW
Cash From Operating Activities -$92.00M -$41.00M $152.0M
Capital Expenditures -$1.000M
Free Cash Flow $153.0M
YoY Change -7750.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Liabilities
Liabilities
4996000000
CY2022Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
4000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest
3082000000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2021Q4 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
7000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49400000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-61000000
us-gaap Net Income Loss
NetIncomeLoss
-109000000
CY2022Q2 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OperatingLeaseLiability
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
us-gaap Net Income Loss
NetIncomeLoss
-167000000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.72
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
1-9583
dei Entity Registrant Name
EntityRegistrantName
MBIA INC
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
CT
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
06-1185706
dei Entity Address Address Line1
EntityAddressAddressLine1
1 Manhattanville Road, Suite 301
dei Entity Address City Or Town
EntityAddressCityOrTown
Purchase
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.2
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.38
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.72
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding
7173000000
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10577
dei City Area Code
CityAreaCode
914
dei Local Phone Number
LocalPhoneNumber
273-4545
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.2
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
MBI
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability
1051000000
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries
1498000000
CY2021Q4 mbi Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount Net
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountNet
32000000
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
54899913
CY2022Q2 us-gaap Assets
Assets
4067000000
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022Q2 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherAssets
CY2021Q4 us-gaap Assets
Assets
4696000000
CY2022Q2 us-gaap Liabilities
Liabilities
4802000000
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0000814585
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.38
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49826695
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49488368
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49729610
CY2022Q2 us-gaap Revenues
Revenues
40000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q2 us-gaap Revenues
Revenues
18000000
us-gaap Revenues
Revenues
80000000
us-gaap Revenues
Revenues
90000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49373883
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
76000000
CY2021Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
79000000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49826695
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
189000000
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
257000000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49488368
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49729610
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-36000000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-61000000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4696000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-36000000
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
283186115
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
283186115
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
283000000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
283000000
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2919000000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2931000000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-567000000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-458000000
CY2022Q2 mbi Accumulated Other Comprehensive Income Loss Deferred Income Taxes
AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes
8000000
CY2021Q4 mbi Accumulated Other Comprehensive Income Loss Deferred Income Taxes
AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes
8000000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-231000000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
100000000
CY2022Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
228286399
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
228630003
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3152000000
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3169000000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-748000000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-313000000
CY2022Q2 us-gaap Minority Interest Amount Represented By Preferred Stock
MinorityInterestAmountRepresentedByPreferredStock
13000000
CY2021Q4 us-gaap Minority Interest Amount Represented By Preferred Stock
MinorityInterestAmountRepresentedByPreferredStock
13000000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-735000000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-300000000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4067000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-109000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-167000000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49373883
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-36000000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-61000000
us-gaap Net Income Loss
NetIncomeLoss
-109000000
us-gaap Net Income Loss
NetIncomeLoss
-167000000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-126000000
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
55000000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-297000000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-32000000
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
2000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
3000000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
2000000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
8000000
CY2022Q2 mbi Aoci Availableforsale Securities With Allowance For Credit Loss Unrealized Gainloss Before Tax
AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax
-1000000
CY2021Q2 mbi Aoci Availableforsale Securities With Allowance For Credit Loss Unrealized Gainloss Before Tax
AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax
0
mbi Aoci Availableforsale Securities With Allowance For Credit Loss Unrealized Gainloss Before Tax
AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax
-1000000
mbi Aoci Availableforsale Securities With Allowance For Credit Loss Unrealized Gainloss Before Tax
AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax
0
CY2022Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
1000000
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
2000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
1000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
3000000
CY2022Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
-6000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
6000000
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
-20000000
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
1000000
CY2022Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax
15000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax
-4000000
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax
12000000
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax
-24000000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-149000000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
64000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-331000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-12000000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-185000000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-440000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-179000000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-735000000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-23000000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-735000000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-23000000
us-gaap Proceeds From Insurance Premiums Collected
ProceedsFromInsurancePremiumsCollected
12000000
us-gaap Proceeds From Insurance Premiums Collected
ProceedsFromInsurancePremiumsCollected
12000000
us-gaap Proceeds From Interest And Dividends Received
ProceedsFromInterestAndDividendsReceived
41000000
us-gaap Proceeds From Interest And Dividends Received
ProceedsFromInterestAndDividendsReceived
41000000
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
356000000
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
77000000
mbi Proceeds From Recoveries And Reinsurance Net Of Salvage Paid To Reinsurers
ProceedsFromRecoveriesAndReinsuranceNetOfSalvagePaidToReinsurers
604000000
mbi Proceeds From Recoveries And Reinsurance Net Of Salvage Paid To Reinsurers
ProceedsFromRecoveriesAndReinsuranceNetOfSalvagePaidToReinsurers
49000000
mbi Proceeds From Loan Repurchase Commitments One
ProceedsFromLoanRepurchaseCommitmentsOne
0
mbi Proceeds From Loan Repurchase Commitments One
ProceedsFromLoanRepurchaseCommitmentsOne
600000000
us-gaap Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
44000000
us-gaap Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
43000000
us-gaap Interest Paid Net
InterestPaidNet
25000000
us-gaap Interest Paid Net
InterestPaidNet
37000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
232000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
545000000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
662000000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
671000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
520000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
396000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
221000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
330000000
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
82000000
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
103000000
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
72000000
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
108000000
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
78000000
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
138000000
us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
25000000
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
7000000
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
57000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-110000000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
3000000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
2000000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
2000000
us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
74000000
us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
49000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
68000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
203000000
mbi Repayment Of Paydowns Of Longterm Debt
RepaymentOfPaydownsOfLongtermDebt
29000000
mbi Repayment Of Paydowns Of Longterm Debt
RepaymentOfPaydownsOfLongtermDebt
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-172000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-255000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
47000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
180000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
160000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167000000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
207000000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
347000000
us-gaap Net Income Loss
NetIncomeLoss
-109000000
us-gaap Net Income Loss
NetIncomeLoss
-167000000
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
-7000000
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
-9000000
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-25000000
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-33000000
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
65000000
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-40000000
mbi Increase Decrease In Insurance Loss Recoverable
IncreaseDecreaseInInsuranceLossRecoverable
-302000000
mbi Increase Decrease In Insurance Loss Recoverable
IncreaseDecreaseInInsuranceLossRecoverable
-116000000
mbi Loan Repurchase Commitements One
LoanRepurchaseCommitementsOne
0
mbi Loan Repurchase Commitements One
LoanRepurchaseCommitementsOne
604000000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
51000000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
52000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-54000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-6000000
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-24000000
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-1000000
mbi Increase Decrease In Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
46000000
mbi Increase Decrease In Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
22000000
mbi Increase Decrease In Other Net Realized Gains Losses
IncreaseDecreaseInOtherNetRealizedGainsLosses
19000000
mbi Increase Decrease In Other Net Realized Gains Losses
IncreaseDecreaseInOtherNetRealizedGainsLosses
5000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2000000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-26000000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
341000000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
712000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
232000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
545000000
mbi Fixe Maturity Securities Held As Available For Sale Received As Salvage
FixeMaturitySecuritiesHeldAsAvailableForSaleReceivedAsSalvage
459000000
mbi Fixe Maturity Securities Held As Available For Sale Received As Salvage
FixeMaturitySecuritiesHeldAsAvailableForSaleReceivedAsSalvage
0
mbi Investments Carried At Fair Value Received As Salvage
InvestmentsCarriedAtFairValueReceivedAsSalvage
112000000
mbi Investments Carried At Fair Value Received As Salvage
InvestmentsCarriedAtFairValueReceivedAsSalvage
0
us-gaap Nature Of Operations
NatureOfOperations
<div id="tx373093_8" style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Note 1: Business Developments and Risks and Uncertainties </div></div></div></div> <div style="background: none;;text-indent: 0px;;font-weight:bold;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;;display:inline;"> </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Summary </div></div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">MBIA Inc., together with its consolidated subsidiaries, (collectively, “MBIA” or the “Company”) operates within the financial guarantee insurance industry. MBIA manages three operating segments: 1) United States (“U.S.”) public finance insurance; 2) corporate; and 3) international and structured finance insurance. The Company’s U.S. public finance insurance business is managed through National Public Finance Guarantee Corporation (“National”), the corporate segment is operated through MBIA Inc. and several of its subsidiaries, including its service company, MBIA Services Corporation (“MBIA Services”) and its international and structured finance insurance business is primarily operated through MBIA Insurance Corporation and its subsidiary</div><div style="font-size: 10pt; font-family: Arial, &quot;sans-serif&quot;; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">, MBIA Mexico S.A. de C.V.,</div></div> <div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> (“MBIA Corp.”). </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Refer to “Note 10: Business Segments” for further information about the Company’s operating segments. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Business Developments </div></div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Puerto Rico </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On January 1, 2022, the Commonwealth of Puerto Rico and certain of its instrumentalities (“Puerto Rico”) defaulted on scheduled debt service for National insured bonds and National paid gross claims in the aggregate of $47 </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">million. As of June 30, 2022, National had </div></div><br/></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">$</div></div><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">2.1 billion of debt service outstanding related to Puerto Rico. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In addition, on July 1, 2022, Puerto Rico defaulted on scheduled debt service for National insured bonds and National paid gross claims in the aggregate of $142 million, which decreased the $2.1 billion of debt service outstanding related to Puerto Rico. </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">PREPA </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On March 8, 2022, the Puerto Rico Fiscal Agency and Financial Advisory Authority (“AAFAF”) and the Puerto Rico Electric Power Authority (“PREPA”) terminated the restructuring support agreement, as amended (“RSA”). On April 8, 2022, the Court appointed a new panel of judges to commence mediation among the Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”), the Ad Hoc creditor group as holders of PREPA Senior Bonds, Assured, National and Syncora (the “April 8 Order”). The mediation deadline is currently August 15, 2022. The April 8 Order further provides that nothing therein acts as a stay of any pending adversary proceedings or contested matters in the PREPA case, subject to the Court’s pending request to the Oversight Board for a status report by August 15, 2022. </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;"> </div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As of June 30, 2022, National has sold approximately 35% of its PREPA bankruptcy claims related to insurance claims paid on matured National-insured PREPA bonds. These sales monetized a portion of National’s salvage asset and reduced potential volatility and ongoing risk of remediation around the PREPA credit. </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">GO and HTA </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On February 22, 2021, National agreed to join a plan support agreement, dated as of February 22, 2021 (the “GO PSA”), among the Oversight Board, certain holders of Puerto Rico Commonwealth GO (“GO”) Bonds and Puerto Rico Public Buildings Authority (“PBA”) Bonds, Assured Guaranty Corp. and Assured Guaranty Municipal Corp, and Syncora Guarantee Inc. in connection with the GO and PBA Title III cases. The Commonwealth Plan of Adjustment was confirmed on January 18, 2022. The GO PSA was effective and implemented on March 15, 2022, and among other things, National received cash, including certain fees, newly issued General Obligation bonds and a contingent value instrument (“CVI”) totaling approximately $1.0<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>billion. </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The CVI is intended to provide creditors with additional recoveries based on potential outperformance of Puerto Rico 5.5% Sales and Use Tax receipts based on the projections in the 2020 certified fiscal plan, subject to certain caps. </div></div><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Subsequent to the GO PSA implementation, National made $277<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>million of acceleration and commutation payments pursuant to the GO PSA. Accordingly, National’s GO and PBA gross par outstanding and debt service outstanding have been reduced to zero from approximately $380<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>million and $495<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>million, respectively. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">On April 12, 2021, National, Assured Guaranty Corp., Assured Guaranty Municipal Corp. and the Oversight Board reached an agreement in principle settling certain clawback claims and providing for a distribution of cash, bonds and a CVI to Puerto Rico Highway and Transportation Authority (“HTA”) bondholders subject to completing negotiations on a plan support agreement in respect of a plan of adjustment (the “HTA PSA”). On May 5, 2021, National, Assured Guaranty Corp., Assured Guaranty Municipal Corp. and the Oversight Board entered into the HTA PSA. On May 2, 2022, the Oversight Board filed the Title III Plan of Adjustment for the Puerto Rico Highways and Transportation Authority (the “HTA Plan”), together with the Disclosure Statement and supporting documents. On June 22, 2022, the Disclosure Statement was approved by the Court. Confirmation is scheduled for August 17 and 18, 2022. During July of 2022, National received </div><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">$33 million<div style="letter-spacing: 0px; top: 0px;;display:inline;"> of cash and</div> $358 </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">million face amount of CVI relating to HTA. In addition, National expects to receive </div></div><div style="letter-spacing: 0px; top: 0px;;display:inline;">additional cash and </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">newly issued<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;">HTA bonds, or cash equal to the face amount of the newly issued HTA bonds, following the effective date of the HTA Plan. </div></div></div><br/></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0px;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Refer to “Note 5: Loss and Loss Adjustment Expense Reserves” for a further discussion of the Company’s Puerto Rico reserves and recoveries. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Risks and Uncertainties </div></div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company’s financial statements include estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. The outcome of certain significant risks and uncertainties could cause the Company to revise its estimates and assumptions or could cause actual results to differ materially from the Company’s estimates. The discussion below highlights the significant risks and uncertainties that could have a material effect on the Company’s financial statements and business objectives in future periods. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">National’s Insured Portfolio </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">National continues to monitor and remediate its existing insured portfolio and may also pursue strategic alternatives that could enhance shareholder value. Certain state and local governments and territory obligors that National insures are under financial and budgetary stress. This could lead to an increase in defaults by such entities on the payment of their obligations and losses or impairments on a greater number of National’s insured transactions. In particular, HTA and PREPA are currently in bankruptcy-like proceedings in the United States District Court for the District of Puerto Rico, pursuant to PROMESA. Since 2016, Puerto Rico has been unable or unwilling to pay its obligations as and when due, and National has been required to pay claims of unpaid principal and interest when due under its insurance policies as a consequence. Puerto Rico may continue to fail to make payments when due, which could cause National to make additional claims payments which could be material. While National will seek to recover any claim payments it makes under its guarantees, there is no assurance that it will be able to recover such payments. National monitors and analyzes these situations and other stressed credits closely, and the overall extent and duration of this stress is uncertain. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">MBIA Corp.’s Insured Portfolio </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">MBIA Corp.’s primary objectives are to satisfy all claims by its policyholders and to maximize future recoveries, if any, for its surplus note holders, and then its preferred stock holders. MBIA Corp. is executing this strategy by, among other things, taking steps to maximize the collection of recoveries and by reducing and mitigating potential losses on its insurance exposures. MBIA Corp.’s insured portfolio performance could deteriorate and result in additional significant loss reserves and claim payments. MBIA Corp.’s ability to meet its obligations is limited by available liquidity and its ability to secure additional liquidity through financing and other transactions. There can be no assurance that MBIA Corp. will be successful in generating sufficient resources to meet its obligations. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">Zohar and RMBS Recoveries </div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"/> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;">Payment of claims on MBIA Corp.’s policies insuring the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Class A-1</div> and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">A-2</div> notes issued by Zohar CDO <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2003-1,</div> Limited (“Zohar I”) and Zohar II <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2005-1,</div> Limited (“Zohar II”), entitles MBIA Corp. to reimbursement of such amounts plus interest and expenses and/or to exercise certain rights and remedies to seek recovery of such amounts. MBIA Corp. anticipates that it will receive substantial recoveries on the loans made to, and equity interests in, companies that, until late March of 2020, were purportedly controlled and managed by the sponsor and former collateral manager of the Zohar collateralized debt obligations (“CDOs”) referenced above (collectively, the “Zohar Collateral”). Since March of 2018, MBIA Corp. has been pursuing those recoveries in a Delaware bankruptcy proceeding filed by the Zohar CDOs. Pursuant to a plan of liquidation confirmed in such bankruptcy proceeding regarding the Zohar CDOs and the remaining Zohar Collateral not previously monetized, which plan of liquidation became effective on August 2, 2022, MBIA Corp.’s rights to recoveries from any remaining Zohar Collateral were distributed to MBIA Corp. in the form of beneficial interests in certain asset recovery entities, which will be managed by a special manager subject to oversight by MBIA Corp. and another former Zohar creditor. There still remains significant uncertainty with respect to the realizable value of the remaining loans and equity interests that formerly constituted the Zohar Collateral and that comprise the assets of the asset recovery entities. Further, as the monetization of these assets unfolds in coordination with the special manager of the asset recovery entities and the directors and managers in place at the portfolio companies, and new information concerning the financial condition of the portfolio companies is disclosed, the Company will continue to revise its expectations for recoveries. </div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div> <div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">MBIA Corp. also projects to collect recoveries from prior claims associated with insured residential mortgage-backed securities (“RMBS”); however, the amount and timing of these collections are uncertain. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Failure to collect its expected recoveries could impede MBIA Corp.’s ability to make payments when due on other policies. MBIA Corp. believes that if the New York State Department of Financial Services (“NYSDFS”) concludes at any time that MBIA Insurance Corporation will not be able to pay its policyholder claims, the NYSDFS would likely put MBIA Insurance Corporation into a rehabilitation or liquidation proceeding under Article 74 of the New York Insurance Law (“NYIL”) and/or take such other actions as the NYSDFS may deem necessary to protect the interests of MBIA Insurance Corporation’s policyholders. The determination to commence such a proceeding or take other such actions is within the exclusive control of the NYSDFS. </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Given the separation of MBIA Inc. and MBIA Corp. as distinct legal entities, the absence of any cross defaults between the entities and the lack of reliance by MBIA Inc. on MBIA Corp. for dividends, the Company does not believe that a rehabilitation or liquidation proceeding with respect to MBIA Insurance Corporation would have any significant liquidity impact on MBIA Inc. Such a proceeding could have material adverse consequences for MBIA Corp., including the termination of derivative contracts for which counterparties may assert market-based claims, the acceleration of debt obligations issued by affiliates and insured by MBIA Corp., the loss of control of MBIA Insurance Corporation to a rehabilitator or liquidator, and unplanned costs. </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Refer to “Note 5: Loss and Loss Adjustment Expense Reserves” for additional information about MBIA Corp.’s recoveries. </div></div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Corporate Liquidity </div></div></div></div> <div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"> </div></div> <div style="font-family: ARIAL; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Based on the Company’s projections of National’s dividends and other cash inflows, the Company expects that MBIA Inc. will have sufficient cash to satisfy its debt service and general corporate needs. However, MBIA Inc. continues to have liquidity risk that could be caused by interruption of or reduction in dividends from National, deterioration in the performance of invested assets, impaired access to the capital markets, as well as other factors, which are not anticipated at this time. Furthermore, failure by MBIA Inc. to settle liabilities that are insured by MBIA Corp. could result in claims on MBIA Corp. </div></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2022Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
414000000
CY2021Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
218000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
520000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
396000000
CY2022Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1000000
CY2021Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
2000000
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding
106
CY2021 us-gaap Insured Financial Obligations With Credit Deterioration Remaining Weighted Average Contract Period
InsuredFinancialObligationsWithCreditDeteriorationRemainingWeightedAverageContractPeriod
P7Y4M24D
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Principal
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingPrincipal
4091000000
CY2022Q2 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
2631000000
CY2021Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
2824000000
us-gaap Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate
FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate
0.0319
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1000000
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
6000000
CY2022Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
22000000
CY2021Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
3000000
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
25000000
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
8000000
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3800000000
CY2022Q2 mbi Number Of Policies
NumberOfPolicies
228
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding
103
us-gaap Insured Financial Obligations With Credit Deterioration Remaining Weighted Average Contract Period
InsuredFinancialObligationsWithCreditDeteriorationRemainingWeightedAverageContractPeriod
P7Y4M24D
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Principal
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingPrincipal
3607000000
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest
2849000000
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding
6456000000
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability
1246000000
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries
504000000
CY2022Q2 mbi Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount Net
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountNet
-217000000
CY2022Q2 mbi Schedule Of Insured Financial Obligations With Credit Deterioration Net Claim Liability Recoverable
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiabilityRecoverable
525000000
CY2022Q2 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Statement Of Financial Position Unearned Premium Revenue
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue
31000000
CY2022Q2 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
17000000
CY2021Q4 mbi Number Of Policies
NumberOfPolicies
260
CY2021Q4 mbi Schedule Of Insured Financial Obligations With Credit Deterioration Net Claim Liability Recoverable
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiabilityRecoverable
-415000000
CY2021Q4 us-gaap Schedule Of Insured Financial Obligations With Credit Deterioration Statement Of Financial Position Unearned Premium Revenue
ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue
37000000
CY2022Q2 mbi Approximate Percentage Of Level3 Assets At Fair Value In Total Assets Measured At Fair Value
ApproximatePercentageOfLevel3AssetsAtFairValueInTotalAssetsMeasuredAtFairValue
0.04
CY2021Q4 mbi Approximate Percentage Of Level3 Assets At Fair Value In Total Assets Measured At Fair Value
ApproximatePercentageOfLevel3AssetsAtFairValueInTotalAssetsMeasuredAtFairValue
0.03
CY2022Q2 mbi Approximate Percentage Of Level3 Liabilities At Fair Value In Total Liabilities Measured At Fair Value
ApproximatePercentageOfLevel3LiabilitiesAtFairValueInTotalLiabilitiesMeasuredAtFairValue
0.78
CY2021Q4 mbi Approximate Percentage Of Level3 Liabilities At Fair Value In Total Liabilities Measured At Fair Value
ApproximatePercentageOfLevel3LiabilitiesAtFairValueInTotalLiabilitiesMeasuredAtFairValue
0.75
us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1100000000
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1100000000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q2 mbi Fair Value Of Securities On Deposit With Various Regulatory Authorities
FairValueOfSecuritiesOnDepositWithVariousRegulatoryAuthorities
11000000
CY2021Q4 mbi Fair Value Of Securities On Deposit With Various Regulatory Authorities
FairValueOfSecuritiesOnDepositWithVariousRegulatoryAuthorities
11000000
CY2022Q2 mbi Investment Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions For Continuous Twelve Month Period
InvestmentSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsForContinuousTwelveMonthPeriod
89
CY2021Q4 mbi Investment Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions For Continuous Twelve Month Period
InvestmentSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsForContinuousTwelveMonthPeriod
36
CY2022Q2 mbi Percentage Of Securities Book Value Exceeded Market Value
PercentageOfSecuritiesBookValueExceededMarketValue
0.05
CY2021Q4 mbi Percentage Of Securities Book Value Exceeded Market Value
PercentageOfSecuritiesBookValueExceededMarketValue
0.05
CY2022Q2 mbi Increase Decrease In Other Net Realized Gains Losses
IncreaseDecreaseInOtherNetRealizedGainsLosses
19000000
mbi Increase Decrease In Other Net Realized Gains Losses
IncreaseDecreaseInOtherNetRealizedGainsLosses
19000000
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2022Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2022Q2 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
92000000
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
159000000
CY2021Q4 mbi Number Of Credit Support Annexes
NumberOfCreditSupportAnnexes
1
CY2022Q2 mbi Number Of Credit Support Annexes
NumberOfCreditSupportAnnexes
1
CY2022Q2 mbi Fair Value Of Credit Support Annexes
FairValueOfCreditSupportAnnexes
1000000
CY2021Q4 mbi Fair Value Of Credit Support Annexes
FairValueOfCreditSupportAnnexes
1000000
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
27000000
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-19000000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
57000000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
18000000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-36000000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-61000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-109000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-167000000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0
us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0
CY2022Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
58000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2022Q2 mbi Revenue From Customers
RevenueFromCustomers
3000000
CY2022Q2 mbi Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
9000000
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4000000
CY2022Q2 mbi Revenues Of Consolidated Vies
RevenuesOfConsolidatedVies
24000000
CY2022Q2 mbi Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
CY2022Q2 us-gaap Revenues
Revenues
40000000
CY2022Q2 mbi Losses And Loss Adjustment
LossesAndLossAdjustment
20000000
CY2022Q2 mbi Deferred Acquisition Costs And Operating
DeferredAcquisitionCostsAndOperating
12000000
CY2022Q2 us-gaap Interest Expense
InterestExpense
43000000
CY2022Q2 mbi Expenses Of Consolidated Vies
ExpensesOfConsolidatedVies
1000000
CY2022Q2 mbi Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
CY2022Q2 mbi Segment Benefits Losses And Expenses
SegmentBenefitsLossesAndExpenses
76000000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-36000000
CY2022Q2 us-gaap Assets
Assets
4067000000
CY2021Q2 mbi Revenue From Customers
RevenueFromCustomers
29000000
CY2021Q2 mbi Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
-20000000
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
14000000
CY2021Q2 mbi Revenues Of Consolidated Vies
RevenuesOfConsolidatedVies
-5000000
CY2021Q2 mbi Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
CY2021Q2 us-gaap Revenues
Revenues
18000000
CY2021Q2 mbi Losses And Loss Adjustment
LossesAndLossAdjustment
9000000
CY2021Q2 mbi Deferred Acquisition Costs And Operating
DeferredAcquisitionCostsAndOperating
24000000
CY2021Q2 us-gaap Interest Expense
InterestExpense
41000000
CY2021Q2 mbi Expenses Of Consolidated Vies
ExpensesOfConsolidatedVies
5000000
CY2021Q2 mbi Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
CY2021Q2 mbi Segment Benefits Losses And Expenses
SegmentBenefitsLossesAndExpenses
79000000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-61000000
mbi Revenue From Customers
RevenueFromCustomers
30000000
mbi Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
26000000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4000000
mbi Revenues Of Consolidated Vies
RevenuesOfConsolidatedVies
20000000
mbi Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
us-gaap Revenues
Revenues
80000000
mbi Losses And Loss Adjustment
LossesAndLossAdjustment
69000000
mbi Deferred Acquisition Costs And Operating
DeferredAcquisitionCostsAndOperating
33000000
us-gaap Interest Expense
InterestExpense
84000000
mbi Expenses Of Consolidated Vies
ExpensesOfConsolidatedVies
3000000
mbi Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
mbi Segment Benefits Losses And Expenses
SegmentBenefitsLossesAndExpenses
189000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-109000000
CY2022Q2 us-gaap Assets
Assets
4067000000
mbi Revenue From Customers
RevenueFromCustomers
63000000
mbi Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange
NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange
32000000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
14000000
mbi Revenues Of Consolidated Vies
RevenuesOfConsolidatedVies
-19000000
mbi Revenue From Transactions With Other Operating Segments Of Same Entity
RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
us-gaap Revenues
Revenues
90000000
mbi Losses And Loss Adjustment
LossesAndLossAdjustment
107000000
mbi Deferred Acquisition Costs And Operating
DeferredAcquisitionCostsAndOperating
52000000
us-gaap Interest Expense
InterestExpense
82000000
mbi Expenses Of Consolidated Vies
ExpensesOfConsolidatedVies
16000000
mbi Expense From Transactions With Other Operating Segments Of Same Entity
ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity
0
mbi Segment Benefits Losses And Expenses
SegmentBenefitsLossesAndExpenses
257000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-167000000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-36000000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-61000000
us-gaap Net Income Loss
NetIncomeLoss
-109000000
us-gaap Net Income Loss
NetIncomeLoss
-167000000
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
CY2021Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-36000000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-61000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-109000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-167000000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49800000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49500000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49700000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.72
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.2
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.38
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-36000000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-61000000
us-gaap Net Income Loss
NetIncomeLoss
-109000000
us-gaap Net Income Loss
NetIncomeLoss
-167000000
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0
CY2021Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-36000000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-61000000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-109000000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-167000000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49800000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49500000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49700000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49400000
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.72
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.2
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.38
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4900000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4900000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
100000000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-317000000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
14000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-331000000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-231000000
CY2022Q2 mbi Number Of Other Lawsuits
NumberOfOtherLawsuits
0
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
24000000

Files In Submission

Name View Source Status
0001193125-22-211347-index-headers.html Edgar Link pending
0001193125-22-211347-index.html Edgar Link pending
0001193125-22-211347.txt Edgar Link pending
0001193125-22-211347-xbrl.zip Edgar Link pending
d373093d10q.htm Edgar Link pending
d373093d10q_htm.xml Edgar Link completed
d373093dex31.htm Edgar Link pending
d373093dex311.htm Edgar Link pending
d373093dex312.htm Edgar Link pending
d373093dex321.htm Edgar Link pending
d373093dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
mbi-20220630.xsd Edgar Link pending
mbi-20220630_cal.xml Edgar Link unprocessable
mbi-20220630_def.xml Edgar Link unprocessable
mbi-20220630_lab.xml Edgar Link unprocessable
mbi-20220630_pre.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending