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Business and Basis of Presentation (Tables) | 9 Months Ended
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Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Equity Method Investments | Upon closing of the Sound Point Transaction and the AHP Transaction the Company deconsolidated most of the corresponding AssuredIM entities (which had previously been classified as held-for-sale) and reported an investment in Sound Point that is accounted for under the equity method. In connection with the Sound Point Transaction and AHP Transaction, the Company reevaluated its consolidation conclusion for each consolidated investment vehicle (CIV) and deconsolidated all but three CIVs. See Note 8, Financial Guaranty Variable Interest Entities and Consolidated Investment Vehicles. The following table presents the calculation of the gain associated with the Sound Point Transaction and AHP Transaction. Gain on Sound Point Transaction and AHP Transaction
| (in millions)
Fair value of investment in Sound Point | $ | 419 |
Fair value of other consideration | 25 |
Total consideration | 444 |
Less net asset carrying value of transferred AssuredIM subsidiaries (1) | 189 |
Gain on sale of asset management subsidiaries (2) | $ | 255 |
____________________ (1) Consists primarily of goodwill and intangible assets of $155 million. (2) Consists of a $248 million gain on the Sound Point Transaction, and a $7 million gain on the AHP Transaction, which were both reported in the corporate division.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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