XML 13 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Assets    
Cash and cash equivalents $ 332 $ 522
Insurance loss recoverable 409 577
Total assets 12,751 14,836
Liabilities:    
Total liabilities $ 9,112 $ 11,095
Commitments and contingencies (Refer to Note 13)
Equity:    
Preferred stock, par value $1 per share; authorized shares--10,000,000; issued and outstanding--none $ 0 $ 0
Common stock, par value $1 per share; authorized shares--400,000,000; issued shares--283,390,167 and 281,833,618 283 282
Additional paid-in capital 3,147 3,138
Retained earnings 2,960 3,038
Accumulated other comprehensive income (loss), net of tax of $15 and $51 5 (61)
Treasury stock, at cost--146,112,863 and 130,303,241 shares (2,768) (2,668)
Total shareholders' equity of MBIA Inc. 3,627 3,729
Preferred stock of subsidiary 12 12
Total equity 3,639 3,741
Total liabilities and equity 12,751 14,836
Non Variable Interest Entity [Member]    
Assets    
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $5,120 and $5,155) 5,210 5,145
Investments carried at fair value 164 177
Investments pledged as collateral, at fair value (amortized cost $216 and $322) 191 291
Short-term investments held as available-for-sale, at fair value (amortized cost $931 and $720) 931 721
Other investments (includes investments at fair value of $6 and $13) 10 16
Total investments 6,506 6,350
Cash and cash equivalents 285 464
Premiums receivable 747 792
Deferred acquisition costs 158 168
Insurance loss recoverable 409 577
Deferred income taxes, net 939 951
Other assets 143 156
Liabilities:    
Unearned premium revenue 1,510 1,591
Loss and loss adjustment expense reserves 525 516
Long-term debt 1,919 1,889
Medium-term notes (includes financial instruments carried at fair value of $165 and $161) 1,048 1,016
Investment agreements 452 462
Derivative liabilities 358 314
Other liabilities 170 211
Variable Interest Entity Primary Beneficiary [Member]    
Assets    
Investments carried at fair value 848 932
Other assets 12 11
Cash 47 58
Investments held-to-maturity, at amortized cost (fair value $525 and $2,401) 890 2,689
Loans receivable at fair value 1,368 1,292
Loan repurchase commitments 399 396
Liabilities:    
Derivative liabilities 36 45
Variable interest entity notes (includes financial instruments carried at fair value of $2,204 and $2,362) $ 3,094 $ 5,051