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Business Segments (Tables) | 3 Months Ended
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Mar. 31, 2012
Business Segments [Abstract] |
Summary Of Company's Segment Results |
|  | Three Months Ended March 31, 2012 |
In millions |  | U.S. Public Finance Insurance |  |  | Structured Finance and International Insurance |  |  | Advisory Services |  |  | Corporate |  |  | Wind-down Operations |  |  | Eliminations |  |  | Consolidated |
Revenues(1) |  | $ | 125 |  |  | $ | 55 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | - |  |  | $ | 206 |
Realized gains and other settlements on insured derivatives |  |  | - |  |  |  | (4) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4) |
Unrealized gains (losses) on insured derivatives |  |  | - |  |  |  | 303 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 303 |
Net gains (losses) on financial instruments at fair value and foreign exchange |  |  | 10 |  |  |  | 46 |  |  |  | - |  |  |  | 5 |  |  |  | (80) |  |  |  | - |  |  |  | (19) |
Net investment losses related to other-than-temporary impairments |  |  | - |  |  |  | (40) |  |  |  | - |  |  |  | - |  |  |  | (54) |  |  |  | - |  |  |  | (94) |
Other net realized gains (losses) |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |
Revenues of consolidated VIEs |  |  | - |  |  |  | (14) |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | (10) |
Inter-segment revenues(2) |  |  | 36 |  |  |  | (7) |  |  |  | 7 |  |  |  | 23 |  |  |  | 3 |  |  |  | (62) |  |  |  | - |
Total revenues |  |  | 171 |  |  |  | 340 |  |  |  | 13 |  |  |  | 29 |  |  |  | (108) |  |  |  | (62) |  |  |  | 383 |
Loss and loss adjustment expense |  |  | 14 |  |  |  | 83 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 97 |
Operating expenses |  |  | 75 |  |  |  | 59 |  |  |  | 15 |  |  |  | 21 |  |  |  | 1 |  |  |  | - |  |  |  | 171 |
Interest expense |  |  | - |  |  |  | 33 |  |  |  | - |  |  |  | 14 |  |  |  | 26 |  |  |  | - |  |  |  | 73 |
Expenses of consolidated VIEs |  |  | - |  |  |  | 17 |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 21 |
Inter-segment expenses(2) |  |  | 27 |  |  |  | 46 |  |  |  | 2 |  |  |  | 4 |  |  |  | 8 |  |  |  | (87) |  |  |  | - |
Total expenses |  |  | 116 |  |  |  | 238 |  |  |  | 17 |  |  |  | 39 |  |  |  | 39 |  |  |  | (87) |  |  |  | 362 |
Income (loss) before income taxes |  | $ | 55 |  |  | $ | 102 |  |  | $ | (4) |  |  | $ | (10) |  |  | $ | (147) |  |  | $ | 25 |  |  | $ | 21 |
Identifiable assets |  | $ | 7,534 |  |  | $ | 19,632 |  |  | $ | 46 |  |  | $ | 670 |  |  | $ | 4,732 |  |  | $ | (6,488) | (3) |  | $ | 26,126 |
(1) - | Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment management fees and other fees.
(2) - | Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - | Consists of intercompany reinsurance balances, repurchase agreements and loans.
|  | Three Months Ended March 31, 2011 |
In millions |  | U.S. Public Finance Insurance |  |  | Structured Finance and International Insurance |  |  | Advisory Services |  |  | Corporate |  |  | Wind-down Operations |  |  | Eliminations |  |  | Consolidated |
Revenues(1) |  | $ | 131 |  |  | $ | 102 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 25 |  |  | $ | - |  |  | $ | 265 |
Realized gains and other settlements on insured derivatives |  |  | - |  |  |  | (354) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (354) |
Unrealized gains (losses) on insured derivatives |  |  | - |  |  |  | (1,422) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,422) |
Net gains (losses) on financial instruments at fair value and foreign exchange |  |  | 3 |  |  |  | 33 |  |  |  | - |  |  |  | 23 |  |  |  | (83) |  |  |  | - |  |  |  | (24) |
Net investment losses related to other-than-temporary impairments |  |  | - |  |  |  | (2) |  |  |  | - |  |  |  | - |  |  |  | (11) |  |  |  | - |  |  |  | (13) |
Net gains (losses) on extinguishment of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 24 |  |  |  | 2 |  |  |  | 26 |
Other net realized gains (losses) |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 5 |
Revenues of consolidated VIEs |  |  | - |  |  |  | (105) |  |  |  | - |  |  |  | - |  |  |  | 15 |  |  |  | - |  |  |  | (90) |
Inter-segment revenues(2) |  |  | 18 |  |  |  | 11 |  |  |  | 9 |  |  |  | 22 |  |  |  | (5) |  |  |  | (55) |  |  |  | - |
Total revenues |  |  | 152 |  |  |  | (1,736) |  |  |  | 15 |  |  |  | 46 |  |  |  | (31) |  |  |  | (53) |  |  |  | (1,607) |
Loss and loss adjustment expense |  |  | 3 |  |  |  | (39) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (36) |
Operating expenses |  |  | 12 |  |  |  | 42 |  |  |  | 15 |  |  |  | 22 |  |  |  | 1 |  |  |  | - |  |  |  | 92 |
Interest expense |  |  | - |  |  |  | 33 |  |  |  | - |  |  |  | 15 |  |  |  | 27 |  |  |  | - |  |  |  | 75 |
Expenses of consolidated VIEs |  |  | - |  |  |  | 20 |  |  |  | - |  |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | 25 |
Inter-segment expenses(2) |  |  | 26 |  |  |  | 29 |  |  |  | 1 |  |  |  | 4 |  |  |  | 9 |  |  |  | (69) |  |  |  | - |
Total expenses |  |  | 41 |  |  |  | 85 |  |  |  | 16 |  |  |  | 41 |  |  |  | 42 |  |  |  | (69) |  |  |  | 156 |
Income (loss) before income taxes |  | $ | 111 |  |  | $ | (1,821) |  |  | $ | (1) |  |  | $ | 5 |  |  | $ | (73) |  |  | $ | 16 |  |  | $ | (1,763) |
Identifiable assets |  | $ | 8,232 |  |  | $ | 24,179 |  |  | $ | 54 |  |  | $ | 624 |  |  | $ | 6,161 |  |  | $ | (7,007) | (3) |  | $ | 32,243 |
(1) - | Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment management fees and other fees.
(2) - | Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - | Consists of intercompany reinsurance balances, repurchase agreements and loans.
Summary Of Premiums Earned On Financial Guarantees And Insured Derivatives By Geographic Location Of Risk |
|  | Three Months Ended March 31, |
In millions |  | 2012 |  |  | 2011 |
Total premiums earned: |  |  |  |  |  |  |  |
United States |  | $ | 119 |  |  | $ | 122 |
United Kingdom |  |  | 8 |  |  |  | 7 |
Europe (excluding United Kingdom) |  |  | 5 |  |  |  | 12 |
Internationally diversified |  |  | 5 |  |  |  | 9 |
Central and South America |  |  | 11 |  |  |  | 9 |
Asia |  |  | 1 |  |  |  | 7 |
Other |  |  | 3 |  |  |  | 3 |
Total |  | $ | 152 |  |  | $ | 169 |
Summary Of Segments Within Wind-Down Operations |
|  | Three Months Ended March 31, 2012 |
In millions |  | Asset / Liability Products |  |  | Conduits |  |  | Eliminations |  |  | Total Wind- down Operations |
Revenues(1) |  | $ | 19 |  |  | $ | - |  |  | $ | - |  |  | $ | 19 |
Net gains (losses) on financial instruments at fair value and foreign exchange |  |  | (80) |  |  |  | - |  |  |  | - |  |  |  | (80) |
Net investment losses related to other-than-temporary impairments |  |  | (54) |  |  |  | - |  |  |  | - |  |  |  | (54) |
Revenues of consolidated VIEs |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |
Inter-segment revenues(2) |  |  | 4 |  |  |  | (1) |  |  |  | - |  |  |  | 3 |
Total revenues |  |  | (111) |  |  |  | 3 |  |  |  | - |  |  |  | (108) |
Operating expenses |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Interest expense |  |  | 26 |  |  |  | - |  |  |  | - |  |  |  | 26 |
Expenses of consolidated VIEs |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | 4 |
Inter-segment expenses(2) |  |  | 8 |  |  |  | - |  |  |  | - |  |  |  | 8 |
Total expenses |  |  | 35 |  |  |  | 4 |  |  |  | - |  |  |  | 39 |
Income (loss) before income taxes |  | $ | (146) |  |  | $ | (1) |  |  | $ | - |  |  | $ | (147) |
Identifiable assets |  | $ | 3,610 |  |  | $ | 1,177 |  |  | $ | (55) |  |  | $ | 4,732 |
(1) - Represents the sum of third-party interest income, investment management services fees and other fees. (2) - Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.
|  | Three Months Ended March 31, 2011 |
In millions |  | Asset / Liability Products |  |  | Conduits |  |  | Eliminations |  |  | Total Wind- down Operations |
Revenues(1) |  | $ | 24 |  |  | $ | 1 |  |  | $ | - |  |  | $ | 25 |
Net gains (losses) on financial instruments at fair value and foreign exchange |  |  | (83) |  |  |  | - |  |  |  | - |  |  |  | (83) |
Net investment losses related to other-than-temporary impairments |  |  | (11) |  |  |  | - |  |  |  | - |  |  |  | (11) |
Net gains (losses) on extinguishment of debt |  |  | 24 |  |  |  | - |  |  |  | - |  |  |  | 24 |
Other net realized gains (losses) |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | 4 |
Revenues of consolidated VIEs |  |  | 10 |  |  |  | 5 |  |  |  | - |  |  |  | 15 |
Inter-segment revenues(2) |  |  | (4) |  |  |  | (1) |  |  |  | - |  |  |  | (5) |
Total revenues |  |  | (36) |  |  |  | 5 |  |  |  | - |  |  |  | (31) |
Operating expenses |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Interest expense |  |  | 27 |  |  |  | - |  |  |  | - |  |  |  | 27 |
Expenses of consolidated VIEs |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | 5 |
Inter-segment expenses(2) |  |  | 8 |  |  |  | 1 |  |  |  | - |  |  |  | 9 |
Total expenses |  |  | 36 |  |  |  | 6 |  |  |  | - |  |  |  | 42 |
Income (loss) before income taxes |  | $ | (72) |  |  | $ | (1) |  |  | $ | - |  |  | $ | (73) |
Identifiable assets |  | $ | 4,897 |  |  | $ | 1,565 |  |  | $ | (301) |  |  | $ | 6,161 |
(1) - Represents the sum of third-party interest income, investment management services fees and other fees. (2) - Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.

X
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