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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2016
Dec. 31, 2015
Assets    
Cash and cash equivalents $ 605 $ 522
Insurance loss recoverable 365 577
Total assets 12,064 14,836
Liabilities:    
Total liabilities 8,406 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--283,487,936 and 281,833,618 284 282
Additional paid-in capital 3,150 3,138
Retained earnings 2,933 3,038
Accumulated other comprehensive income (loss), net of tax of $15 and $51 58 (61)
Treasury stock, at cost--147,844,413 and 130,303,241 shares (2,779) (2,668)
Total shareholders' equity of MBIA Inc. 3,646 3,729
Preferred stock of subsidiary 12 12
Total equity 3,658 3,741
Total liabilities and equity 12,064 14,836
Non Variable Interest Entity [Member]    
Assets    
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $5,145 and $5,155) 5,334 5,145
Investments carried at fair value 68 177
Investments pledged as collateral, at fair value (amortized cost $216 and $322) 210 291
Short-term investments held as available-for-sale, at fair value (amortized cost $632 and $720) 632 721
Other investments (includes investments at fair value of $6 and $13) 10 16
Total investments 6,254 6,350
Cash and cash equivalents 568 464
Premiums receivable 716 792
Deferred acquisition costs 147 168
Insurance loss recoverable 365 577
Deferred income taxes, net 966 951
Other assets 231 156
Liabilities:    
Unearned premium revenue 1,418 1,591
Loss and loss adjustment expense reserves 546 516
Long-term debt 1,945 1,889
Medium-term notes (includes financial instruments carried at fair value of $161 and $161) 991 1,016
Investment agreements 424 462
Derivative liabilities 378 314
Other liabilities 311 211
Variable Interest Entity Primary Beneficiary [Member]    
Assets    
Investments carried at fair value 281 932
Other assets 16 11
Cash 37 58
Investments held-to-maturity, at amortized cost (fair value $509 and $2,401) 890 2,689
Loans receivable at fair value 1,192 1,292
Loan repurchase commitments 401 396
Liabilities:    
Derivative liabilities 0 45
Variable interest entity notes (includes financial instruments carried at fair value of $1,503 and $2,362) $ 2,393 $ 5,051