v3.24.2.u1
Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Net realized investment gains (losses)     $ (3) $ (10)
Net gains (losses) on financial instruments at fair value and foreign exchange $ (55) $ 11 (51) (1)
Total revenues (37) 28 (24) 30
Expenses:        
Losses and loss adjustment 142 28 160 35
Interest 53 53 105 104
Total expenses 216 106 316 191
Income (loss) from continuing operations before income taxes (253) (78) (340) (161)
Provision (benefit) for income taxes 0 0 0 0
Income (loss) from continuing operations (253) (78) (340) (161)
Income (loss) from discontinued operations, net of income taxes (2) 3 (1) 0
Net income (loss) (255) (75) (341) (161)
Less: Net income from discontinued operations attributable to noncontrolling interest (1) (1) (1) 6
Net income (loss) attributable to MBIA Inc. $ (254) $ (74) $ (340) $ (167)
Net income (loss) per common share attributable to MBIA Inc. - basic and diluted        
Continuing operations - basic $ (5.3) $ (1.52) $ (7.2) $ (3.38)
Continuing operations - diluted (5.3) (1.52) (7.2) (3.38)
Discontinued operations - basic (0.04) 0.06 (0.01) (0.13)
Discontinued operations - diluted (0.04) 0.06 (0.01) (0.13)
Net income (loss) per common share attributable to MBIA Inc. - basic (5.34) (1.46) (7.21) (3.51)
Net income (loss) per common share attributable to MBIA Inc. - diluted $ (5.34) $ (1.46) $ (7.21) $ (3.51)
Weighted average number of common shares outstanding:        
Basic [1] 47,501,248 49,040,489 47,161,085 49,490,701
Diluted [1] 47,501,248 49,040,489 47,161,085 49,490,701
Non Variable Interest Entity [Member]        
Revenues:        
Total premiums earned (net of ceded premiums of $-, $-, $-, and $-) $ 8 $ 8 $ 17 $ 18
Net investment income 22 38 45 63
Net realized investment gains (losses) (2) (7) (3) (10)
Net gains (losses) on financial instruments at fair value and foreign exchange (55) 11 (51) (1)
Fees and reimbursements 1 0 1 0
Other net realized gains (losses) 2 2 5 2
Expenses:        
Losses and loss adjustment 142 28 160 35
Amortization of deferred acquisition costs 1 1 2 2
Operating 15 20 40 42
Interest 53 53 105 104
Variable Interest Entity, Primary Beneficiary [Member]        
Revenues:        
Net gains (losses) on financial instruments at fair value and foreign exchange 1 (21) (24) (24)
Other net realized gains (losses) (14) (3) (14) (18)
Expenses:        
Operating $ 5 $ 4 $ 9 $ 8
[1] Includes approximately 1 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for the three and six months ended June 30, 2024 and 2023.