$MBI
MBIA INC Stock $mbi

$mbi Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000119312523139478 Filed on May 09, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q1
Revenue	$27.00M	$2.000M	$40.00M
YoY Change	-32.5%	-95.0%	-44.44%
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	$53.00M	$34.00M	$72.00M
YoY Change	60.61%	-52.78%	-43.75%
Operating Profit
YoY Change
Interest Expense	-$53.00M	$51.00M	-$41.00M
YoY Change	-223.26%	-224.39%	-18.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$78.00M	-$83.00M	-$73.00M
YoY Change	116.67%	13.7%	-31.13%
Income Tax	-$3.000M	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$74.00M	-$93.00M	-$73.00M
YoY Change	105.56%	27.4%	-31.13%
Net Earnings / Revenue	-274.07%	-4650.0%	-182.5%
Basic Earnings Per Share	-$1.46	-$1.86	-$1.48
Diluted Earnings Per Share	-$1.50	-$1.86	-$1.471M
COMMON SHARES
Basic Shares Outstanding	54.89M	54.84M	49.60M
Diluted Shares Outstanding	49.00M	49.90M	49.60M

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents	$208.0M	$93.00M	$147.0M
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	$16.00M	$16.00M	$18.00M
YoY Change	-11.11%	-11.11%	-5.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$2.537B	$2.785B	$3.603B
YoY Change	-18.08%	-22.7%	10.79%
Other Assets	$88.00M	$83.00M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets	$3.257B	$3.317B	$4.443B
YoY Change	-19.92%	-25.34%	-17.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses	$16.00M	$16.00M	$18.00M
YoY Change	-11.11%	-11.11%	-5.26%
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	$16.00M	$16.00M	$18.00M
YoY Change	-11.11%	-11.11%	-5.26%
LONG-TERM LIABILITIES
Long-Term Debt	$3.421B	$3.363B	$3.492B
YoY Change	2.24%	-3.69%	-4.98%
Other Long-Term Liabilities	$198.0M	$201.0M	$291.0M
YoY Change	12.5%	-30.93%	-12.61%
Total Long-Term Liabilities	$3.619B	$3.564B	$3.783B
YoY Change	2.75%	-5.79%	-5.61%
TOTAL LIABILITIES
Total Short-Term Liabilities	$16.00M	$16.00M	$18.00M
Total Long-Term Liabilities	$3.619B	$3.564B	$3.783B
Total Liabilities	$4.245B	$4.216B	$4.995B
YoY Change	-11.6%	-15.6%	-7.55%
SHAREHOLDERS EQUITY
Retained Earnings	-$820.0M	-$746.0M
YoY Change	44.62%
Common Stock	$283.0M	$283.0M
YoY Change	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$3.165B	$3.143B
YoY Change	0.41%
Treasury Stock Shares		$228.2M
Shareholders Equity	-$988.0M	-$912.0M	-$552.0M
YoY Change
Total Liabilities & Shareholders Equity	$3.257B	$3.317B	$4.443B
YoY Change	-19.92%	-25.34%	-17.34%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q1
OPERATING ACTIVITIES
Net Income	-$74.00M	-$93.00M	-$73.00M
YoY Change	105.56%	27.4%	-31.13%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$42.00M	-$36.00M	$273.0M
YoY Change	2.44%	-113.19%	-48.39%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$243.0M	$71.00M	-$254.0M
YoY Change	0.41%	-127.95%	-39.23%
Cash From Investing Activities	$243.0M	$71.00M	-$254.0M
YoY Change	0.41%	-127.95%	-39.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-68.00M	-20.00M	-29.00M
YoY Change	-52.45%	-31.03%	-81.53%
NET CHANGE
Cash From Operating Activities	-42.00M	-36.00M	273.0M
Cash From Investing Activities	243.0M	71.00M	-254.0M
Cash From Financing Activities	-68.00M	-20.00M	-29.00M
Net Change In Cash	133.0M	15.00M	-10.00M
YoY Change	129.31%	-250.0%	-78.26%
FREE CASH FLOW
Cash From Operating Activities	-$42.00M	-$36.00M	$273.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49600000
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49600000
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000814585
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	1-9583
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	MBIA INC
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	CT
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	06-1185706
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	1 Manhattanville Road, Suite 301
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Purchase
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	NY
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	10577
CY2023Q1	dei	City Area Code CityAreaCode	914
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	273-4545
CY2023Q1	dei	Security12b Title Security12bTitle	Common Stock
CY2023Q1	dei	Trading Symbol TradingSymbol	MBI
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NYSE
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	54885481
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2022#OtherAssets
CY2023Q1	us-gaap	Operating Lease Liability Statement Of Financial Position Extensible List OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2022#OtherLiabilities
CY2023Q1	us-gaap	Fair Value Recurring Basis Unobservable Input Reconciliation Asset Liability Gain Loss Statement Of Income Extensible List FairValueRecurringBasisUnobservableInputReconciliationAssetLiabilityGainLossStatementOfIncomeExtensibleList	http://fasb.org/us-gaap/2022#RealizedInvestmentGainsLosses
CY2023Q1	us-gaap	Assets Assets	3317000000
CY2022Q4	us-gaap	Assets Assets	3375000000
CY2023Q1	us-gaap	Liabilities Liabilities	4216000000
CY2022Q4	us-gaap	Liabilities Liabilities	4251000000
CY2023Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1
CY2023Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	1
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2023Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q1	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	1
CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	1
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	283186115
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	283186115
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	283000000
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	283000000
CY2023Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2915000000
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2925000000
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-746000000
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-653000000
CY2023Q1	mbi	Accumulated Other Comprehensive Income Loss Deferred Income Taxes AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes	7000000
CY2022Q4	mbi	Accumulated Other Comprehensive Income Loss Deferred Income Taxes AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes	8000000
CY2023Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-221000000
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-283000000
CY2023Q1	us-gaap	Treasury Stock Shares TreasuryStockShares	228221641
CY2022Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	228333444
CY2023Q1	us-gaap	Treasury Stock Value TreasuryStockValue	3143000000
CY2022Q4	us-gaap	Treasury Stock Value TreasuryStockValue	3154000000
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-912000000
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-882000000
CY2023Q1	mbi	Minority Interest Amount Represented By Preferred Stock And Minority Interests Held For Sale MinorityInterestAmountRepresentedByPreferredStockAndMinorityInterestsHeldForSale	13000000
CY2022Q4	mbi	Minority Interest Amount Represented By Preferred Stock And Minority Interests Held For Sale MinorityInterestAmountRepresentedByPreferredStockAndMinorityInterestsHeldForSale	6000000
CY2023Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-899000000
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	-876000000
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	3317000000
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	3375000000
CY2023Q1	us-gaap	Revenues Revenues	2000000
CY2022Q1	us-gaap	Revenues Revenues	40000000
CY2023Q1	us-gaap	Benefits Losses And Expenses BenefitsLossesAndExpenses	85000000
CY2022Q1	us-gaap	Benefits Losses And Expenses BenefitsLossesAndExpenses	113000000
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-83000000
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-73000000
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2023Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-83000000
CY2022Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-73000000
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	-3000000
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	0
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-86000000
CY2022Q1	us-gaap	Profit Loss ProfitLoss	-73000000
CY2023Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	7000000
CY2022Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0
CY2023Q1	mbi	Net Income Loss Attributable To Parent Net Of Tax NetIncomeLossAttributableToParentNetOfTax	-93000000
CY2022Q1	mbi	Net Income Loss Attributable To Parent Net Of Tax NetIncomeLossAttributableToParentNetOfTax	-73000000
CY2023Q1	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	-1.67
CY2023Q1	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	-1.67
CY2022Q1	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	-1.48
CY2022Q1	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	-1.48
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	-0.19
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	-0.19
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	0
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	0
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.86
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.86
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.48
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.48
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49945917
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49631448
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49945917
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49631448
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-93000000
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-73000000
CY2023Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	43000000
CY2022Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax	-171000000
CY2023Q1	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax	-5000000
CY2022Q1	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax	0
CY2023Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax	-1000000
CY2022Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax	0
CY2023Q1	us-gaap	Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax	1000000
CY2022Q1	us-gaap	Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax	-14000000
CY2023Q1	us-gaap	Other Comprehensive Income Loss Financial Liability Fair Value Option Reclassification Adjustment From Aoci For Derecognition Before Tax OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax	-14000000
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CY2023Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	62000000
CY2022Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-182000000
CY2023Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-31000000
CY2022Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-255000000
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CY2022Q1	us-gaap	Proceeds From Insurance Premiums Collected ProceedsFromInsurancePremiumsCollected	2000000
CY2023Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	26000000
CY2022Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	19000000
CY2023Q1	us-gaap	Payments For Losses And Loss Adjustment Expense PaymentsForLossesAndLossAdjustmentExpense	28000000
CY2022Q1	us-gaap	Payments For Losses And Loss Adjustment Expense PaymentsForLossesAndLossAdjustmentExpense	336000000
CY2023Q1	mbi	Proceeds From Recoveries And Reinsurance Net Of Salvage Paid To Reinsurers ProceedsFromRecoveriesAndReinsuranceNetOfSalvagePaidToReinsurers	3000000
CY2022Q1	mbi	Proceeds From Recoveries And Reinsurance Net Of Salvage Paid To Reinsurers ProceedsFromRecoveriesAndReinsuranceNetOfSalvagePaidToReinsurers	622000000
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CY2022Q1	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	22000000
CY2023Q1	mbi	Other Proceeds From Consolidated Variable Interest Entities Operating Activities OtherProceedsFromConsolidatedVariableInterestEntitiesOperatingActivities	15000000
CY2022Q1	mbi	Other Proceeds From Consolidated Variable Interest Entities Operating Activities OtherProceedsFromConsolidatedVariableInterestEntitiesOperatingActivities	0
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	14000000
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	12000000
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CY2022Q1	us-gaap	Cash Provided By Used In Operating Activities Discontinued Operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations	0
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-36000000
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	273000000
CY2023Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	247000000
CY2022Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	352000000
CY2023Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	98000000
CY2022Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	106000000
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CY2022Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	65000000
CY2023Q1	us-gaap	Payments To Acquire Trading Securities Heldforinvestment PaymentsToAcquireTradingSecuritiesHeldforinvestment	24000000
CY2022Q1	us-gaap	Payments To Acquire Trading Securities Heldforinvestment PaymentsToAcquireTradingSecuritiesHeldforinvestment	47000000
CY2023Q1	us-gaap	Proceeds From Sale Of Trading Securities Heldforinvestment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment	206000000
CY2022Q1	us-gaap	Proceeds From Sale Of Trading Securities Heldforinvestment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment	44000000
CY2023Q1	us-gaap	Payments For Proceeds From Short Term Investments PaymentsForProceedsFromShortTermInvestments	13000000
CY2022Q1	us-gaap	Payments For Proceeds From Short Term Investments PaymentsForProceedsFromShortTermInvestments	68000000
CY2023Q1	us-gaap	Proceeds From Sale And Collection Of Loans Receivable ProceedsFromSaleAndCollectionOfLoansReceivable	3000000
CY2022Q1	us-gaap	Proceeds From Sale And Collection Of Loans Receivable ProceedsFromSaleAndCollectionOfLoansReceivable	2000000
CY2023Q1	us-gaap	Payments For Proceeds From Derivative Instrument Investing Activities PaymentsForProceedsFromDerivativeInstrumentInvestingActivities	1000000
CY2022Q1	us-gaap	Payments For Proceeds From Derivative Instrument Investing Activities PaymentsForProceedsFromDerivativeInstrumentInvestingActivities	4000000
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	71000000
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-254000000
CY2023Q1	us-gaap	Proceeds From Issuance Of Other Long Term Debt ProceedsFromIssuanceOfOtherLongTermDebt	2000000
CY2022Q1	us-gaap	Proceeds From Issuance Of Other Long Term Debt ProceedsFromIssuanceOfOtherLongTermDebt	2000000
CY2023Q1	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	1000000
CY2022Q1	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	1000000
CY2023Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	21000000
CY2022Q1	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	11000000
CY2023Q1	mbi	Repayment Of Paydowns Of Longterm Debt RepaymentOfPaydownsOfLongtermDebt	0
CY2022Q1	mbi	Repayment Of Paydowns Of Longterm Debt RepaymentOfPaydownsOfLongtermDebt	17000000
CY2023Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	4000000
CY2022Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2000000
CY2023Q1	us-gaap	Cash Provided By Used In Financing Activities Discontinued Operations CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations	4000000
CY2022Q1	us-gaap	Cash Provided By Used In Financing Activities Discontinued Operations CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations	0
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-20000000
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-29000000
CY2023Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1000000
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	15000000
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-9000000
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	78000000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	160000000
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	93000000
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	151000000
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-86000000
CY2022	us-gaap	Profit Loss ProfitLoss	-73000000
CY2023Q1	mbi	Income Loss From Discontinued Operations Net Of Income Tax IncomeLossFromDiscontinuedOperationsNetOfIncomeTax	3000000
CY2022Q1	mbi	Income Loss From Discontinued Operations Net Of Income Tax IncomeLossFromDiscontinuedOperationsNetOfIncomeTax	0
CY2023Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-83000000
CY2022Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-73000000
CY2023Q1	us-gaap	Increase Decrease In Accrued Investment Income Receivable IncreaseDecreaseInAccruedInvestmentIncomeReceivable	0
CY2022Q1	us-gaap	Increase Decrease In Accrued Investment Income Receivable IncreaseDecreaseInAccruedInvestmentIncomeReceivable	5000000
CY2023Q1	us-gaap	Increase Decrease In Unearned Premiums IncreaseDecreaseInUnearnedPremiums	-9000000
CY2022Q1	us-gaap	Increase Decrease In Unearned Premiums IncreaseDecreaseInUnearnedPremiums	-15000000
CY2023Q1	us-gaap	Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve	-66000000
CY2022Q1	us-gaap	Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve	-13000000
CY2023Q1	mbi	Increase Decrease In Insurance Loss Recoverable IncreaseDecreaseInInsuranceLossRecoverable	-42000000
CY2022Q1	mbi	Increase Decrease In Insurance Loss Recoverable IncreaseDecreaseInInsuranceLossRecoverable	-392000000
CY2023Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	34000000
CY2022Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	24000000
CY2023Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	7000000
CY2022Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-36000000
CY2023Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	-3000000
CY2022Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	-3000000
CY2023Q1	mbi	Increase Decrease In Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange	-16000000
CY2022Q1	mbi	Increase Decrease In Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange	13000000
CY2023Q1	mbi	Increase Decrease In Other Net Realized Gains Losses IncreaseDecreaseInOtherNetRealizedGainsLosses	15000000
CY2022Q1	mbi	Increase Decrease In Other Net Realized Gains Losses IncreaseDecreaseInOtherNetRealizedGainsLosses	3000000
CY2023Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-5000000
CY2022Q1	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-6000000
CY2023Q1	us-gaap	Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities	47000000
CY2022Q1	us-gaap	Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities	346000000
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-36000000
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	273000000
CY2023Q1	us-gaap	Nature Of Operations NatureOfOperations	<div id="toc410106_8" 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-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="font-weight:bold;display:inline;"> </div> <div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 10pt; font-family: ARIAL;"><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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">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 subsidiaries (“MBIA Corp.”). </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Refer to “Note 10: Business Segments” for further information about the Company’s operating segments. </div> <div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: ARIAL;"><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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">On January 1, 2023, the Puerto Rico Electric Power Authority (“PREPA”) defaulted on scheduled debt service for National insured bonds and National paid gross claims in the aggregate of $18 million. As of March 31, 2023, National had $1.0 billion of debt service outstanding related to the Commonwealth of Puerto Rico and certain of its instrumentalities (“Puerto Rico”), of which $926 million related to PREPA. </div> <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">PREPA </div></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;"/></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 PREPA terminated the restructuring support agreement. 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 of holders of PREPA Senior Bonds, Assured, National and Syncora. The mediation initially terminated on September 16, 2022; however on September 29, 2022 the Court entered an order restarting mediation through January 31, 2023. Mediation has since been further continued until July 28, 2023. On January 31, 2023, National entered into the PREPA Plan Support Agreement (“PREPA PSA”) with the Oversight Board, on behalf of itself and as the sole Title III representative of PREPA. On February 9, 2023, the Oversight Board filed an amendment to PREPA’s Plan of Adjustment originally filed with the Title III Court on December 16, 2022 (the “Amended Plan”), that reflects the entry into the PREPA PSA and the settlement described therein. The PREPA PSA provides, among other things, for the consensual resolution of the treatment of claims held by National related to insured PREPA revenue bonds and the settlement of National’s participation in litigation related to such claims. The PREPA PSA provides that, upon the effective date of a plan of adjustment, National shall receive in exchange for its bond and reimbursement claims newly issued PREPA secured revenue bonds together with certain fees and expense reimbursement payments, including an interim payment subject to regulatory approval. The PREPA PSA also provides National with the potential to receive additional consideration. The PREPA PSA remains subject to a number of conditions, including (but not limited to) the Title III Court’s approval, and confirmation and effectiveness, of the Amended Plan. There is no assurance that the Amended Plan or a substantially similar plan of adjustment will ultimately be confirmed and go effective. </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 a further discussion of the Company’s Puerto Rico reserves and 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;">Zohar CDOs </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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Payment of claims on MBIA Corp.’s policies insuring the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">Class A-1</div> and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">A-2</div> notes issued by Zohar collateralized debt obligation (“CDO”) <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">2003-1,</div> Limited (“Zohar I”) and Zohar II <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">2005-1,</div> Limited (“Zohar II”) (collectively, the “Zohar CDOs”), entitled 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. has anticipated that it would 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 CDOs (collectively, the “Zohar Collateral”). Since March of 2018<div style="text-indent: 0px; letter-spacing: 0px; top: 0px;;display:inline;">,</div> MBIA Corp. had been pursuing those recoveries in a Delaware bankruptcy proceeding filed by the Zohar CDOs (“Zohar Funds Bankruptcy Cases”). Pursuant to a plan of liquidation that became effective in August of 2022, all remaining Zohar Collateral was distributed to MBIA Corp. either directly or in the form of interests in certain asset recovery entities. There still remains significant uncertainty with respect to the realizable value of the remaining loans and equity interests that formerly constituted the Zohar Collateral. Further, as the monetization of these assets unfolds, and new information concerning the financial condition of the portfolio companies is disclosed, the Company will continue to revise its expectations for recoveries. <br/></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:center"/> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </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;">The interests in the asset recovery entities include various loans to and equity interest in portfolio companies. For those portfolio companies in which the Company does not have a majority of the voting interest, the Company recorded these assets as investments. For those portfolio companies in which the Company owns a majority of the voting interest, the Company consolidated the assets, liabilities, and financial results of these companies. In accordance with Accounting Standards Codification (“ASC”) 360-10, Property, Plant, and Equipment and ASC 205-20, Presentation of Financial Statements-Discontinued Operations, certain of these portfolio companies met the criteria to be classified as held for sale and discontinued operations. Refer to the following “Discontinued Operations” section below for further information about the Company’s discontinued operations. In addition, certain of the Zohar debtors’ litigation claims were transferred into a litigation trust that the Company consolidated as a variable interest entity (“VIE”). </div></div><br/></div> <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">Discontinued Operations </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;">For those portfolio companies in which the Company acquired an interest and which have met the criteria for held for sale classification in accordance with ASC 360, the Company classified these entities as held for disposition. Accordingly, the Company classified the assets and liabilities of consolidated portfolio companies and the interests in certain nonconsolidated portfolio companies as held for sale. Furthermore, as these entities met the one-year probable sale criteria on the acquisition date, and the remaining held for sale criteria within a short period following the acquisition date, these entities were classified as discontinued operations in accordance with ASC 205. As of March 31, 2023 and December 31, 2022, the assets and liabilities of these entities are presented within “Assets held for sale” and “Liabilities held for sale” on the Company’s consolidated balance sheet. Additionally, the results of operations for these entities are classified as “Income from discontinued operations, net of income taxes” on <div style="display:inline;">the</div> Company’s consolidated statement <div style="display:inline;">of</div> operations for the three months ended March 31, 2023. </div></div></div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">In the first quarter of 2023, the Company recorded income from discontinued operations, net of income taxes of $18 million to correct the overstatement of a loss recognized in the fourth quarter of 2022 related to the loss on disposal group. Additionally, the Company recorded a loss from discontinued operations attributable to noncontrolling interests in the first quarter of 2023 of $8 million to correct the overstatement of a loss attributable to noncontrolling interests recognized in the fourth quarter of 2022. The Company evaluated the materiality of these errors in accordance with Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99, Materiality, and SEC Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, and concluded that these errors, individually and in the aggregate, were immaterial to the three months ended March 31, 2023 and the prior period to which these errors relate. </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;">The following table summarizes the components of assets and liabilities held for sale:</div></div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="margin: 0px auto; border: 0px currentcolor; width: 68%; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 60%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="width: 16%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="width: 16%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="font-size: 8pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td colspan="6" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">As of</div></div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size: 8pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="font-family: ARIAL; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: ARIAL; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;">In millions</div></div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td colspan="2" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">March 31, 2023</div></div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td colspan="2" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">December 31, 2022</div></div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><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;">Assets held for sale</div></div></div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Cash</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">10</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Accounts receivable</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">21</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">24</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Goodwill</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">90</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">90</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Other assets</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">13</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">8</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Loss on disposal group</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">(51)</div></td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">(54)</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;"><div style="font-weight:bold;display:inline;">Total assets held for sale</div></div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">83</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">80</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;"><div style="font-weight:bold;display:inline;">Liabilities held for sale</div></div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Accounts payable</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">11</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Debt</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">34</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">30</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;">Accrued expenses and other</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">23</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">19</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; text-indent: -1em; font-size: 10pt; font-family: ARIAL; line-height: normal;"><div style="font-weight:bold;display:inline;">Total liabilities held for sale</div></div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">68</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">61</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="clear:both;max-height:0pt;"/> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <div style="text-align: center; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></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;"/></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;">The results of operations from discontinued operations for the three months ended March 31, 2023 consist of the following:</div></div><br/></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="display:inline;"/><br/></div> <table cellpadding="0" cellspacing="0" style="margin: 0px auto; border: 0px currentcolor; width: 68%; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 92%;"><div style="display:inline;"/></td> <td style="width: 5%; vertical-align: bottom;"><div style="display:inline;"/></td> <td><div style="display:inline;"/></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"/></td></tr> <tr style="font-size: 8pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: ARIAL; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: ARIAL; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;">In millions</div></div></div></div></td> <td style="vertical-align: bottom;"><div style="display:inline;"> </div></td> <td colspan="2" style="vertical-align: bottom;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="display:inline;"> </div></td></tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 92%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="width: 5%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><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;">Revenues</div></div></div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;">Revenues</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">32</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;">Cost of sales</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">17</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;">Total revenues from discontinued operations</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">15</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-weight:bold;display:inline;">Expenses</div></div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;">Operating</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">20</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;">Interest</div></td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">1</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;">Increase (decrease) on loss on disposal group </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">(3)</div></td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"/><br/></td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;">Total expenses from discontinued operations</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">18</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Income (loss) before income taxes from discontinued operations</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">(3</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)<div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Provision (benefit) for income taxes from discontinued operations</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">-</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"> </div></td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Income (loss) from discontinued operations, net of income taxes</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);;text-align:right;"><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;">(3</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)<div style="display:inline;"> </div><div style="font-family: ARIAL; letter-spacing: 0px; top: 0px;;display:inline;"/></td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <table cellpadding="0" cellspacing="0" style="margin: 0px auto; border: 0px currentcolor; width: 68%; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 92%;"> </td> <td style="width: 5%; vertical-align: bottom;"> </td> <td> </td> <td style="white-space: nowrap;"> </td> <td> </td></tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;"> </td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: ARIAL;"/><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-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><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">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 style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">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, PREPA is currently in bankruptcy-like proceedings in the United States District Court for the District of Puerto Rico. While National has entered into an agreement to support a plan to resolve the PREPA proceeding, PREPA may continue to fail to make payments when due, which could cause National to make additional claims payments which could be material. There is no assurance the PREPA amended plan of adjustment will ultimately be confirmed and go effective. National monitors and analyzes these situations and other stressed credits closely, and the overall extent and duration of this stress is uncertain. </div><div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><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="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">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 style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">Recoveries </div></div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">In addition to the recoveries on the Zohar Collateral, 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 style="font-family: ARIAL; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><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><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="text-align: center; font-family: ARIAL; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: ARIAL; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></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="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Refer to “Note 5: Loss and Loss Adjustment Expense Reserves” for additional information about MBIA Corp.’s recoveries. </div><div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><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 style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">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. <br/></div>
CY2023Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	3
CY2023Q1	mbi	Correction Of Error Income Loss From Discontinued Operations Net Of Tax CorrectionOfErrorIncomeLossFromDiscontinuedOperationsNetOfTax	18000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Cash And Cash Equivalents DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents	10000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Cash And Cash Equivalents DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents	12000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet	21000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet	24000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Goodwill1 DisposalGroupIncludingDiscontinuedOperationGoodwill1	90000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Goodwill1 DisposalGroupIncludingDiscontinuedOperationGoodwill1	90000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Other Assets DisposalGroupIncludingDiscontinuedOperationOtherAssets	13000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Other Assets DisposalGroupIncludingDiscontinuedOperationOtherAssets	8000000
CY2023Q1	mbi	Disposalgroupincludingdiscontinuedoperationlossondisposalgroupcurrent Disposalgroupincludingdiscontinuedoperationlossondisposalgroupcurrent	51000000
CY2022Q4	mbi	Disposalgroupincludingdiscontinuedoperationlossondisposalgroupcurrent Disposalgroupincludingdiscontinuedoperationlossondisposalgroupcurrent	54000000
CY2023Q1	us-gaap	Assets Of Disposal Group Including Discontinued Operation AssetsOfDisposalGroupIncludingDiscontinuedOperation	83000000
CY2022Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation AssetsOfDisposalGroupIncludingDiscontinuedOperation	80000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Accounts Payable DisposalGroupIncludingDiscontinuedOperationAccountsPayable	11000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Accounts Payable DisposalGroupIncludingDiscontinuedOperationAccountsPayable	12000000
CY2023Q1	mbi	Disposal Group Including Discontinued Operation Debt DisposalGroupIncludingDiscontinuedOperationDebt	34000000
CY2022Q4	mbi	Disposal Group Including Discontinued Operation Debt DisposalGroupIncludingDiscontinuedOperationDebt	30000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Other Liabilities DisposalGroupIncludingDiscontinuedOperationOtherLiabilities	23000000
CY2022Q4	us-gaap	Disposal Group Including Discontinued Operation Other Liabilities DisposalGroupIncludingDiscontinuedOperationOtherLiabilities	19000000
CY2023Q1	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation	68000000
CY2022Q4	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation	61000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Revenue DisposalGroupIncludingDiscontinuedOperationRevenue	32000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Costs Of Goods Sold DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold	17000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Gross Profit Loss DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss	15000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Operating Expense DisposalGroupIncludingDiscontinuedOperationOperatingExpense	20000000
CY2023Q1	us-gaap	Disposal Group Including Discontinued Operation Interest Expense DisposalGroupIncludingDiscontinuedOperationInterestExpense	1000000
CY2023Q1	mbi	Discontinued Operation Income Loss On Disposal Group Held For Sale Discontinued Operation DiscontinuedOperationIncomeLossOnDisposalGroupHeldForSaleDiscontinuedOperation	-3000000
CY2023Q1	mbi	Disposal Group Including Discontinued Operations Total Expenses From Discontinued Operations DisposalGroupIncludingDiscontinuedOperationsTotalExpensesFromDiscontinuedOperations	18000000
CY2023Q1	us-gaap	Discontinued Operation Income Loss From Discontinued Operation Before Income Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax	-3000000
CY2023Q1	us-gaap	Discontinued Operation Tax Effect Of Discontinued Operation DiscontinuedOperationTaxEffectOfDiscontinuedOperation	0
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	-3000000
CY2023Q1	us-gaap	Variable Interest Entity Entity Maximum Loss Exposure Amount VariableInterestEntityEntityMaximumLossExposureAmount	1792000000
CY2022Q4	us-gaap	Variable Interest Entity Entity Maximum Loss Exposure Amount VariableInterestEntityEntityMaximumLossExposureAmount	1840000000
CY2023Q1	us-gaap	Financial Guarantee Insurance Contracts Claim Liability Weighted Average Risk Free Discount Rate FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate	0.038
CY2023Q1	mbi	Number Of Policies NumberOfPolicies	142
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding	95
CY2023Q1	us-gaap	Insured Financial Obligations With Credit Deterioration Remaining Weighted Average Contract Period InsuredFinancialObligationsWithCreditDeteriorationRemainingWeightedAverageContractPeriod	P6Y4M24D
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Principal ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingPrincipal	2939000000
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest	2323000000
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding	5262000000
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability	591000000
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries	152000000
CY2023Q1	mbi	Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount Net ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountNet	-156000000
CY2023Q1	mbi	Schedule Of Insured Financial Obligations With Credit Deterioration Net Claim Liability Recoverable ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiabilityRecoverable	283000000
CY2023Q1	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Statement Of Financial Position Unearned Premium Revenue ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue	19000000
CY2023Q1	us-gaap	Reinsurance Recoverables On Paid And Unpaid Losses ReinsuranceRecoverablesOnPaidAndUnpaidLosses	3000000
CY2022Q4	mbi	Number Of Policies NumberOfPolicies	161
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Number Of Contracts Issued And Outstanding ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding	99
CY2022	us-gaap	Insured Financial Obligations With Credit Deterioration Remaining Weighted Average Contract Period InsuredFinancialObligationsWithCreditDeteriorationRemainingWeightedAverageContractPeriod	P6Y4M24D
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Principal ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingPrincipal	3185000000
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding Interest ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest	2508000000
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Insured Contractual Payments Outstanding ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding	5693000000
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Gross Claim Liability ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability	677000000
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Gross Potential Recoveries ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityGrossPotentialRecoveries	198000000
CY2022Q4	mbi	Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount Net ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountNet	-179000000
CY2022Q4	mbi	Schedule Of Insured Financial Obligations With Credit Deterioration Net Claim Liability Recoverable ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiabilityRecoverable	300000000
CY2022Q4	us-gaap	Schedule Of Insured Financial Obligations With Credit Deterioration Statement Of Financial Position Unearned Premium Revenue ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue	20000000
CY2022Q4	us-gaap	Reinsurance Recoverables On Paid And Unpaid Losses ReinsuranceRecoverablesOnPaidAndUnpaidLosses	10000000
CY2022Q4	mbi	Approximate Percentage Of Level3 Assets At Fair Value In Total Assets Measured At Fair Value ApproximatePercentageOfLevel3AssetsAtFairValueInTotalAssetsMeasuredAtFairValue	0.07
CY2023Q1	mbi	Approximate Percentage Of Level3 Assets At Fair Value In Total Assets Measured At Fair Value ApproximatePercentageOfLevel3AssetsAtFairValueInTotalAssetsMeasuredAtFairValue	0.07
CY2023Q1	mbi	Approximate Percentage Of Level3 Liabilities At Fair Value In Total Liabilities Measured At Fair Value ApproximatePercentageOfLevel3LiabilitiesAtFairValueInTotalLiabilitiesMeasuredAtFairValue	0.78
CY2022Q4	mbi	Approximate Percentage Of Level3 Liabilities At Fair Value In Total Liabilities Measured At Fair Value ApproximatePercentageOfLevel3LiabilitiesAtFairValueInTotalLiabilitiesMeasuredAtFairValue	0.82
CY2022Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	1200000000
CY2023Q1	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	1200000000
CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2023Q1	mbi	Fair Value Of Securities On Deposit With Various Regulatory Authorities FairValueOfSecuritiesOnDepositWithVariousRegulatoryAuthorities	10000000
CY2022Q4	mbi	Fair Value Of Securities On Deposit With Various Regulatory Authorities FairValueOfSecuritiesOnDepositWithVariousRegulatoryAuthorities	10000000
CY2023Q1	mbi	Investment Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions For Continuous Twelve Month Period InvestmentSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsForContinuousTwelveMonthPeriod	495
CY2022Q4	mbi	Investment Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions For Continuous Twelve Month Period InvestmentSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsForContinuousTwelveMonthPeriod	210
CY2023Q1	mbi	Percentage Of Securities Book Value Exceeded Market Value PercentageOfSecuritiesBookValueExceededMarketValue	0.05
CY2022Q4	mbi	Percentage Of Securities Book Value Exceeded Market Value PercentageOfSecuritiesBookValueExceededMarketValue	0.05
CY2023Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	98000000
CY2022Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	106000000
CY2023Q1	us-gaap	Debt Securities Available For Sale Realized Gain DebtSecuritiesAvailableForSaleRealizedGain	1000000
CY2022Q1	us-gaap	Debt Securities Available For Sale Realized Gain DebtSecuritiesAvailableForSaleRealizedGain	0
CY2023Q1	us-gaap	Debt Securities Available For Sale Realized Loss DebtSecuritiesAvailableForSaleRealizedLoss	4000000
CY2022Q1	us-gaap	Debt Securities Available For Sale Realized Loss DebtSecuritiesAvailableForSaleRealizedLoss	3000000
CY2023Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2023Q1	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	3900000000
CY2023Q1	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Foreign DeferredTaxAssetsTaxCreditCarryforwardsForeign	57000000
CY2022Q3	mbi	Effective Income Tax Rate Reconciliation Alternative Minimum Tax On The Book Income Of Large Corporations Percent EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxOnTheBookIncomeOfLargeCorporationsPercent	15
CY2023Q1	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0
CY2022Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0
CY2023Q1	us-gaap	Derivative Collateral Right To Reclaim Securities DerivativeCollateralRightToReclaimSecurities	85000000
CY2022Q4	us-gaap	Derivative Collateral Right To Reclaim Securities DerivativeCollateralRightToReclaimSecurities	73000000
CY2022Q4	mbi	Number Of Credit Support Annexes NumberOfCreditSupportAnnexes	1
CY2023Q1	mbi	Number Of Credit Support Annexes NumberOfCreditSupportAnnexes	1
CY2023Q1	mbi	Fair Value Of Credit Support Annexes FairValueOfCreditSupportAnnexes	-1000000
CY2022Q4	mbi	Fair Value Of Credit Support Annexes FairValueOfCreditSupportAnnexes	-1000000
CY2023Q1	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	-13000000
CY2022Q1	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	30000000
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-83000000
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-73000000
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0
CY2023Q1	us-gaap	Effective Income Tax Rate Reconciliation Tax Contingencies EffectiveIncomeTaxRateReconciliationTaxContingencies	0
CY2022Q1	us-gaap	Effective Income Tax Rate Reconciliation Tax Contingencies EffectiveIncomeTaxRateReconciliationTaxContingencies	0
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	49900000
CY2022Q3	mbi	Effective Income Tax Rate Reconciliation Excise Tax On Most Stock Buybacks Percent EffectiveIncomeTaxRateReconciliationExciseTaxOnMostStockBuybacksPercent	1
CY2023Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	3
CY2023Q1	mbi	Revenue From Customers RevenueFromCustomers	33000000
CY2023Q1	mbi	Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange	-13000000
CY2023Q1	mbi	Revenues Of Consolidated Vies RevenuesOfConsolidatedVies	-18000000
CY2023Q1	mbi	Revenue From Transactions With Other Operating Segments Of Same Entity RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity	0
CY2023Q1	us-gaap	Revenues Revenues	2000000
CY2023Q1	mbi	Losses And Loss Adjustment LossesAndLossAdjustment	6000000
CY2023Q1	mbi	Deferred Acquisition Costs And Operating DeferredAcquisitionCostsAndOperating	24000000
CY2023Q1	us-gaap	Interest Expense InterestExpense	51000000
CY2023Q1	mbi	Expenses Of Consolidated Vies ExpensesOfConsolidatedVies	4000000
CY2023Q1	mbi	Expense From Transactions With Other Operating Segments Of Same Entity ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity	0
CY2023Q1	mbi	Segment Benefits Losses And Expenses SegmentBenefitsLossesAndExpenses	85000000
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-83000000
CY2023Q1	mbi	Identifiable Assets Per Segment IdentifiableAssetsPerSegment	3234000000
CY2023Q1	us-gaap	Assets Held For Sale Not Part Of Disposal Group AssetsHeldForSaleNotPartOfDisposalGroup	83000000
CY2023Q1	us-gaap	Assets Assets	3317000000
CY2022Q1	mbi	Revenue From Customers RevenueFromCustomers	27000000
CY2022Q1	mbi	Net Gains Losses On Financial Instruments At Fair Value And Foreign Exchange NetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange	17000000
CY2022Q1	mbi	Revenues Of Consolidated Vies RevenuesOfConsolidatedVies	-4000000
CY2022Q1	mbi	Revenue From Transactions With Other Operating Segments Of Same Entity RevenueFromTransactionsWithOtherOperatingSegmentsOfSameEntity	0
CY2022Q1	us-gaap	Revenues Revenues	40000000
CY2022Q1	mbi	Losses And Loss Adjustment LossesAndLossAdjustment	49000000
CY2022Q1	mbi	Deferred Acquisition Costs And Operating DeferredAcquisitionCostsAndOperating	21000000
CY2022Q1	us-gaap	Interest Expense InterestExpense	41000000
CY2022Q1	mbi	Expenses Of Consolidated Vies ExpensesOfConsolidatedVies	2000000
CY2022Q1	mbi	Expense From Transactions With Other Operating Segments Of Same Entity ExpenseFromTransactionsWithOtherOperatingSegmentsOfSameEntity	0
CY2022Q1	mbi	Segment Benefits Losses And Expenses SegmentBenefitsLossesAndExpenses	113000000
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-73000000
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-83000000
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-83000000
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-73000000
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-73000000
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	-3000000
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	0
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest	7000000
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest	0
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	-10000000
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	0
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-93000000
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-73000000
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	49900000
CY2023Q1	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	-1.67
CY2023Q1	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	-1.67
CY2022Q1	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	-1.48
CY2022Q1	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	-1.48
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	-0.19
CY2023Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	-0.19
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	0
CY2022Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	0
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.86
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.86
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.48
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.48
CY2023Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	4900000
CY2022Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	5100000
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	700000
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	900000
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-283000000
CY2023Q1	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	43000000
CY2023Q1	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	-19000000
CY2023Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	62000000
CY2023Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-221000000
CY2023Q1	mbi	Number Of Other Lawsuits NumberOfOtherLawsuits	0
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	16000000
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	16000000
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P7Y
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.075
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	22000000

Files In Submission

Name	View Source	Status
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$MBI
MBIA INC Stock $mbi

2023 Q2 Form 10-Q Financial Statement

#000119312523139478 Filed on May 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MBI MBIA INC Stock $mbi

2023 Q2 Form 10-Q Financial Statement

#000119312523139478 Filed on May 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MBI
MBIA INC Stock $mbi