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10-Q Filing

MBIA INC CIK: 814585 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001193125-20-139189
Period End Date 20200331
Filing Date 20200511
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance d893688d10q_htm.xml
Balance Sheet 47 line items
Line Item Tag Value Unit Period
Preferred stock, par value PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $280.00M USD Point-in-time
Preferred stock, authorized shares PreferredStockSharesAuthorized 10.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $83.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $163.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $217.00M USD Point-in-time
Preferred stock, authorized shares PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 400.00M shares Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 400.00M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 283.43M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 283.43M shares Point-in-time
Accumulated other comprehensive income (loss), taxes AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes $8.00M USD Point-in-time
Accumulated other comprehensive income (loss), taxes AccumulatedOtherComprehensiveIncomeLossDeferredIncomeTaxes $8.00M USD Point-in-time
Treasury stock, shares TreasuryStockShares 211.27M shares Point-in-time
Treasury stock, shares TreasuryStockShares 204.00M shares Point-in-time
Total assets Assets $7.28B USD Point-in-time
Total assets Assets $6.63B USD Point-in-time
Total liabilities Liabilities $6.45B USD Point-in-time
Total liabilities Liabilities $6.13B USD Point-in-time
Preferred stock, par value $1 per share; authorized shares10,000,000; issued and outstandingnone PreferredStockValue - USD Point-in-time
Preferred stock, par value $1 per share; authorized shares10,000,000; issued and outstandingnone PreferredStockValue - USD Point-in-time
Common stock, par value $1 per share; authorized shares400,000,000; issued shares283,433,401 and 283,433,401 CommonStockValue $283.00M USD Point-in-time
Common stock, par value $1 per share; authorized shares400,000,000; issued shares283,433,401 and 283,433,401 CommonStockValue $283.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $3.00B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.96B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $232.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $607.00M USD Point-in-time
Accumulated other comprehensive income (loss), net of tax of $8 and $8 AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.00M USD Point-in-time
Accumulated other comprehensive income (loss), net of tax of $8 and $8 AccumulatedOtherComprehensiveIncomeLossNetOfTax $91.00M USD Point-in-time
Treasury stock, at cost211,272,995 and 204,000,108 shares TreasuryStockValue $3.08B USD Point-in-time
Treasury stock, at cost211,272,995 and 204,000,108 shares TreasuryStockValue $3.06B USD Point-in-time
Total shareholders' equity of MBIA Inc. StockholdersEquity $484.00M USD Point-in-time
Total shareholders' equity of MBIA Inc. StockholdersEquity $826.00M USD Point-in-time
Preferred stock of subsidiary MinorityInterestAmountRepresentedByPreferredStock $13.00M USD Point-in-time
Preferred stock of subsidiary MinorityInterestAmountRepresentedByPreferredStock $13.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $497.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.20B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.63B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.28B USD Point-in-time
Income Statement 20 line items
Line Item Tag Value Unit Period
Unrealized gains (losses) on insured derivatives UnrealizedGainLossOnDerivatives $14.00M USD 1 Quarter
Unrealized gains (losses) on insured derivatives UnrealizedGainLossOnDerivatives - USD 1 Quarter
Total revenues Revenues $50.00M USD 1 Quarter
Total revenues Revenues $-6.00M USD 1 Quarter
Total expenses BenefitsLossesAndExpenses $327.00M USD 1 Quarter
Total expenses BenefitsLossesAndExpenses $69.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-333.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-19.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit - USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $2.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-21.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-333.00M USD 1 Quarter
Basic EarningsPerShareBasic $-0.24 USD 1 Quarter
Basic EarningsPerShareBasic $-4.62 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.24 USD 1 Quarter
Diluted EarningsPerShareDiluted $-4.62 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 72.09M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 85.55M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 85.55M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 72.09M shares 1 Quarter
Cash Flow Statement 90 line items
Line Item Tag Value Unit Period
Premiums, fees and reimbursements received ProceedsFromInsurancePremiumsCollected $3.00M USD 1 Quarter
Premiums, fees and reimbursements received ProceedsFromInsurancePremiumsCollected $3.00M USD 1 Quarter
Investment income received ProceedsFromInterestAndDividendsReceived $37.00M USD 1 Quarter
Investment income received ProceedsFromInterestAndDividendsReceived $44.00M USD 1 Quarter
Financial guarantee losses and loss adjustment expenses paid PaymentsForLossesAndLossAdjustmentExpense $75.00M USD 1 Quarter
Financial guarantee losses and loss adjustment expenses paid PaymentsForLossesAndLossAdjustmentExpense $95.00M USD 1 Quarter
Proceeds from recoveries and reinsurance ProceedsFromReinsuranceAndRecoveries $10.00M USD 1 Quarter
Proceeds from recoveries and reinsurance ProceedsFromReinsuranceAndRecoveries $60.00M USD 1 Quarter
Operating and employee related expenses paid PaymentsForOtherOperatingActivities $34.00M USD 1 Quarter
Operating and employee related expenses paid PaymentsForOtherOperatingActivities $34.00M USD 1 Quarter
Interest paid, net of interest converted to principal InterestPaidNet $23.00M USD 1 Quarter
Interest paid, net of interest converted to principal InterestPaidNet $46.00M USD 1 Quarter
Income taxes (paid) received IncomeTaxesPaidNet $2.00M USD 1 Quarter
Income taxes (paid) received IncomeTaxesPaidNet - USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $-82.00M USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $-70.00M USD 1 Quarter
Purchases of available-for-sale investments PaymentsToAcquireAvailableForSaleSecurities $747.00M USD 1 Quarter
Purchases of available-for-sale investments PaymentsToAcquireAvailableForSaleSecurities $242.00M USD 1 Quarter
Sales of available-for-sale investments ProceedsFromSaleOfAvailableForSaleSecurities $683.00M USD 1 Quarter
Sales of available-for-sale investments ProceedsFromSaleOfAvailableForSaleSecurities $279.00M USD 1 Quarter
Paydowns and maturities of available-for-sale investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $234.00M USD 1 Quarter
Paydowns and maturities of available-for-sale investments ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $123.00M USD 1 Quarter
Purchases of investments at fair value PaymentsToAcquireTradingSecuritiesHeldforinvestment $69.00M USD 1 Quarter
Purchases of investments at fair value PaymentsToAcquireTradingSecuritiesHeldforinvestment $33.00M USD 1 Quarter
Sales, paydowns, maturities and other proceeds of investments at fair value ProceedsFromSaleOfTradingSecuritiesHeldforinvestment $34.00M USD 1 Quarter
Sales, paydowns, maturities and other proceeds of investments at fair value ProceedsFromSaleOfTradingSecuritiesHeldforinvestment $122.00M USD 1 Quarter
Sales, paydowns and maturities (purchases) of short-term investments, net PaymentsForProceedsFromShortTermInvestments $-178.00M USD 1 Quarter
Sales, paydowns and maturities (purchases) of short-term investments, net PaymentsForProceedsFromShortTermInvestments $154.00M USD 1 Quarter
Sales, paydowns and maturities of held-to-maturity investments ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment $315.00M USD 1 Quarter
Sales, paydowns and maturities of held-to-maturity investments ProceedsFromMaturitiesRepaymentsAndCallsOfTradingSecuritiesHeldforinvestment - USD 1 Quarter
Paydowns and maturities of loans receivable ProceedsFromSaleAndCollectionOfLoansReceivable $7.00M USD 1 Quarter
Paydowns and maturities of loans receivable ProceedsFromSaleAndCollectionOfLoansReceivable $3.00M USD 1 Quarter
Consolidation of variable interest entities ProceedsFromConsolidationOfVariableInterestEntity $72.00M USD 1 Quarter
Consolidation of variable interest entities ProceedsFromConsolidationOfVariableInterestEntity - USD 1 Quarter
(Payments) proceeds for derivative settlements PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $11.00M USD 1 Quarter
(Payments) proceeds for derivative settlements PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $3.00M USD 1 Quarter
Collateral (to) from counterparties IncreaseDecreaseCashCollateralFromCounterparties $-44.00M USD 1 Quarter
Collateral (to) from counterparties IncreaseDecreaseCashCollateralFromCounterparties $-9.00M USD 1 Quarter
Net cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $610.00M USD 1 Quarter
Net cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $128.00M USD 1 Quarter
Proceeds from investment agreements ProceedsFromIssuanceOfOtherLongTermDebt $3.00M USD 1 Quarter
Proceeds from investment agreements ProceedsFromIssuanceOfOtherLongTermDebt $3.00M USD 1 Quarter
Principal paydowns of investment agreements RepaymentsOfOtherLongTermDebt - USD 1 Quarter
Principal paydowns of investment agreements RepaymentsOfOtherLongTermDebt $12.00M USD 1 Quarter
Principal paydowns of variable interest entity notes RepaymentsOfNotesPayable $323.00M USD 1 Quarter
Principal paydowns of variable interest entity notes RepaymentsOfNotesPayable $168.00M USD 1 Quarter
Purchases of treasury stock PaymentsForRepurchaseOfCommonStock $10.00M USD 1 Quarter
Purchases of treasury stock PaymentsForRepurchaseOfCommonStock $62.00M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-394.00M USD 1 Quarter
Net cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-175.00M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-117.00M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $134.00M USD 1 Quarter
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $280.00M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $83.00M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $163.00M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $217.00M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $280.00M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $83.00M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $163.00M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $217.00M USD Point-in-time
Net income (loss) NetIncomeLoss $-21.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-333.00M USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $-1.00M USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $-22.00M USD 1 Quarter
Deferred acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $-2.00M USD 1 Quarter
Deferred acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $-3.00M USD 1 Quarter
Unearned premium revenue IncreaseDecreaseInUnearnedPremiums $-43.00M USD 1 Quarter
Unearned premium revenue IncreaseDecreaseInUnearnedPremiums $-19.00M USD 1 Quarter
Loss and loss adjustment expense reserves IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $-58.00M USD 1 Quarter
Loss and loss adjustment expense reserves IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $84.00M USD 1 Quarter
Insurance loss recoverable IncreaseDecreaseInInsuranceLossRecoverable $-86.00M USD 1 Quarter
Insurance loss recoverable IncreaseDecreaseInInsuranceLossRecoverable $20.00M USD 1 Quarter
Accrued interest payable IncreaseDecreaseInInterestPayableNet $35.00M USD 1 Quarter
Accrued interest payable IncreaseDecreaseInInterestPayableNet $30.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-11.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-19.00M USD 1 Quarter
Net investment losses related to other-than-temporary impairments NetOtherThanTemporaryImpairments - USD 1 Quarter
Net investment losses related to other-than-temporary impairments NetOtherThanTemporaryImpairments $28.00M USD 1 Quarter
Unrealized (gains) losses on insured derivatives UnrealizedGainLossOnDerivatives $14.00M USD 1 Quarter
Unrealized (gains) losses on insured derivatives UnrealizedGainLossOnDerivatives - USD 1 Quarter
Net (gains) losses on financial instruments at fair value and foreign exchange IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange $40.00M USD 1 Quarter
Net (gains) losses on financial instruments at fair value and foreign exchange IncreaseDecreaseInNetGainsLossesOnFinancialInstrumentsAtFairValueAndForeignExchange $-48.00M USD 1 Quarter
Other net realized (gains) losses IncreaseDecreaseInOtherNetRealizedGainsLosses $9.00M USD 1 Quarter
Other net realized (gains) losses IncreaseDecreaseInOtherNetRealizedGainsLosses $41.00M USD 1 Quarter
Other operating OtherNoncashIncomeExpense $-13.00M USD 1 Quarter
Other operating OtherNoncashIncomeExpense $-24.00M USD 1 Quarter
Total adjustments to net income (loss) AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-49.00M USD 1 Quarter
Total adjustments to net income (loss) AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $251.00M USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $-82.00M USD 1 Quarter
Net cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $-70.00M USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $497.00M USD Point-in-time
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.00M USD Point-in-time
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.20B USD Point-in-time
Balance (in common stock shares) CommonStockSharesIssued 283.43M shares Point-in-time
Balance (in common stock shares) CommonStockSharesIssued 283.43M shares Point-in-time
Balance (in treasury stock shares) TreasuryStockShares 211.27M shares Point-in-time
Balance (in treasury stock shares) TreasuryStockShares 204.00M shares Point-in-time
Net income (loss) NetIncomeLoss $-21.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-333.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $93.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $86.00M USD 1 Quarter
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $497.00M USD Point-in-time
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $839.00M USD Point-in-time
Total equity balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.20B USD Point-in-time
Balance (in common stock shares) CommonStockSharesIssued 283.43M shares Point-in-time
Balance (in common stock shares) CommonStockSharesIssued 283.43M shares Point-in-time
Balance (in treasury stock shares) TreasuryStockShares 211.27M shares Point-in-time
Balance (in treasury stock shares) TreasuryStockShares 204.00M shares Point-in-time
Balance (in preferred stock shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Balance (in preferred stock shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-21.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $-333.00M USD 1 Quarter
Unrealized gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $79.00M USD 1 Quarter
Unrealized gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $48.00M USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax $39.00M USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax $3.00M USD 1 Quarter
Unrealized gains (losses) arising during the period AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax $11.00M USD 1 Quarter
Unrealized gains (losses) arising during the period AociAvailableforsaleSecuritiesWithAllowanceForCreditLossUnrealizedGainlossBeforeTax - USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) AociAvailableForSaleSecuritiesWithAllowanceForCreditLossAdjustmentsForGainsLossesIncludedInNetIncomeLoss $28.00M USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) AociAvailableForSaleSecuritiesWithAllowanceForCreditLossAdjustmentsForGainsLossesIncludedInNetIncomeLoss - USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $1.00M USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax - USD 1 Quarter
Unrealized gains (losses) arising during the period OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax $2.00M USD 1 Quarter
Unrealized gains (losses) arising during the period OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax $46.00M USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax $-2.00M USD 1 Quarter
Reclassification adjustments for (gains) losses included in net income (loss) OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionReclassificationAdjustmentFromAociForDerecognitionBeforeTax $-4.00M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $93.00M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $86.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-240.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $65.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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