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Businesses, Developments, Risks And Uncertainties (Tables) | 6 Months Ended
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Jun. 30, 2011
Businesses, Developments, Risks And Uncertainties |
Schedule Of Error Corrections And Prior Period Adjustments, Statement Of Operation |
|  | Three Months Ended March 31, 2011 |
In millions |  | Balance as Reported |  |  | Correction of Error |  |  | Balance as Revised |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gains (losses) on insured derivatives |  | $ | (1,323 | ) |  | $ | (99 | ) |  | $ | (1,422 | )
Net change in fair value of insured derivatives |  |  | (1,677 | ) |  |  | (99 | ) |  |  | (1,776 | )
Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
Net gains (losses) on financial instruments at fair value and foreign exchange |  |  | 1 |  |  |  | (108 | ) |  |  | (107 | )
Total revenues |  |  | (1,400 | ) |  |  | (207 | ) |  |  | (1,607 | )
Income (loss) before income taxes |  |  | (1,556 | ) |  |  | (207 | ) |  |  | (1,763 | )
Provision (benefit) for income taxes |  |  | (419 | ) |  |  | (70 | ) |  |  | (489 | )
Net income (loss) |  |  | (1,137 | ) |  |  | (137 | ) |  |  | (1,274 | )
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (5.68 | ) |  | $ | (0.69 | ) |  | $ | (6.37 | )
Diluted |  | $ | (5.68 | ) |  | $ | (0.69 | ) |  | $ | (6.37 | )
Schedule Of Error Corrections And Prior Period Adjustments, Balance Sheet |
|  | As of March 31, 2011 |
In millions |  | Balance as Reported |  |  | Correction of Error |  |  | Balance as Revised |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes, net |  | $ | 1,293 |  |  | $ | 70 |  |  | $ | 1,363 |
Total assets |  |  | 32,173 |  |  |  | 70 |  |  |  | 32,243 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  |  | 5,927 |  |  |  | 99 |  |  |  | 6,026 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  |  | 1,910 |  |  |  | 108 |  |  |  | 2,018 |
Total liabilities |  |  | 30,400 |  |  |  | 207 |  |  |  | 30,607 |
Equity: |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 987 |  |  |  | (137 | ) |  |  | 850 |
Total shareholders' equity of MBIA Inc. |  |  | 1,759 |  |  |  | (137 | ) |  |  | 1,622 |
Total equity |  |  | 1,773 |  |  |  | (137 | ) |  |  | 1,636 |
Total liabilities and equity |  |  | 32,173 |  |  |  | 70 |  |  |  | 32,243 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22658-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22663-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 9 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794 + Details
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