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Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2017
Text Block [Abstract] |
Summary of company's segment results |
|  |  |  | Year Ended December 31, 2017
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 262 |  | $ | 30 |  | $ | 78 |  | $ | - |  | $ | 370
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | (51) |  |  | - |  |  | (51)
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | 25 |  |  | (32) |  |  | (17) |  |  | - |  |  | (24)
Net investment losses related to other-than-temporary impairments |  |  | (106) |  |  | - |  |  | - |  |  | - |  |  | (106)
Net gains (losses) on extinguishment of debt |  |  | - |  |  | 28 |  |  | - |  |  | - |  |  | 28
Other net realized gains (losses) |  |  | (4) |  |  | (4) |  |  | 39 |  |  | - |  |  | 31
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | 185 |  |  | - |  |  | 185
Inter-segment revenues(2) |  |  | 23 |  |  | 60 |  |  | 44 |  |  | (127) |  |  | -
|  | Total revenues |  |  | 200 |  |  | 82 |  |  | 278 |  |  | (127) |  |  | 433
Losses and loss adjustment |  |  | 499 |  |  | - |  |  | 184 |  |  | - |  |  | 683
Operating |  |  | 36 |  |  | 59 |  |  | 34 |  |  | - |  |  | 129
Interest |  |  | - |  |  | 81 |  |  | 116 |  |  | - |  |  | 197
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 85 |  |  | - |  |  | 85
Inter-segment expenses(2) |  |  | 72 |  |  | 11 |  |  | 47 |  |  | (130) |  |  | -
|  | Total expenses |  |  | 607 |  |  | 151 |  |  | 466 |  |  | (130) |  |  | 1,094
Income (loss) before income taxes |  |  | (407) |  |  | (69) |  |  | (188) |  |  | 3 |  |  | (661)
Provision (benefit) for income taxes |  |  | (152) |  |  | 556 |  |  | 1,143 |  |  | (603) |  |  | 944
Net income (loss) |  | $ | (255) |  | $ | (625) |  | $ | (1,331) |  | $ | 606 |  | $ | (1,605)
Identifiable assets |  | $ | 4,582 |  | $ | 1,312 |  | $ | 5,404 |  | $ | (2,203) | (3) | $ | 9,095
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.
(2) - Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - Consists of intercompany reinsurance balances and repurchase agreements.
|  |  |  | Year Ended December 31, 2016
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 335 |  | $ | 24 |  | $ | 121 |  | $ | - |  | $ | 480
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | (19) |  |  | - |  |  | (19)
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | 72 |  |  | (14) |  |  | 26 |  |  | - |  |  | 84
Net investment losses related to other-than-temporary impairments |  |  | (4) |  |  | (1) |  |  | - |  |  | - |  |  | (5)
Net gains (losses) on extinguishment of debt |  |  | - |  |  | 5 |  |  | - |  |  | - |  |  | 5
Other net realized gains (losses) |  |  | 2 |  |  | (5) |  |  | (279) |  |  | - |  |  | (282)
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | 31 |  |  | - |  |  | 31
Inter-segment revenues(2) |  |  | 22 |  |  | 58 |  |  | 51 |  |  | (131) |  |  | -
|  | Total revenues |  |  | 427 |  |  | 67 |  |  | (69) |  |  | (131) |  |  | 294
Losses and loss adjustment |  |  | 74 |  |  | - |  |  | 146 |  |  | - |  |  | 220
Operating |  |  | 40 |  |  | 80 |  |  | 57 |  |  | - |  |  | 177
Interest |  |  | - |  |  | 91 |  |  | 106 |  |  | - |  |  | 197
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 39 |  |  | - |  |  | 39
Inter-segment expenses(2) |  |  | 69 |  |  | 4 |  |  | 52 |  |  | (125) |  |  | -
|  | Total expenses |  |  | 183 |  |  | 175 |  |  | 400 |  |  | (125) |  |  | 633
Income (loss) before income taxes |  |  | 244 |  |  | (108) |  |  | (469) |  |  | (6) |  |  | (339)
Provision (benefit) for income taxes |  |  | 68 |  |  | (15) |  |  | (52) |  |  | (2) |  |  | (1)
Net income (loss) |  | $ | 176 |  | $ | (93) |  | $ | (417) |  | $ | (4) |  | $ | (338)
Identifiable assets |  | $ | 5,077 |  | $ | 2,479 |  | $ | 6,486 |  | $ | (2,905) | (3) | $ | 11,137
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.
(2) - Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - Consists of intercompany deferred income taxes, reinsurance balances and repurchase agreements.
|  |  |  | Year Ended December 31, 2015
|  |  |  | U.S. |  |  |  |  | International |  |  |  |  |  |  |
|  |  |  | Public |  |  |  |  | and Structured |  |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  |  | Consolidated
Revenues(1) |  | $ | 389 |  | $ | 27 |  | $ | 114 |  | $ | - |  |  | $ | 530
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | 129 |  |  | - |  |  |  | 129
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | 14 |  |  | 58 |  |  | (9) |  |  | - |  |  |  | 63
Net investment losses related to other-than-temporary impairments |  |  | (10) |  |  | (3) |  |  | - |  |  | - |  |  |  | (13)
Net gains (losses) on extinguishment of debt |  |  | - |  |  | (1) |  |  | - |  |  | - |  |  |  | (1)
Other net realized gains (losses) |  |  | (4) |  |  | 21 |  |  | - |  |  | - |  |  |  | 17
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | 128 |  |  | - |  |  |  | 128
Inter-segment revenues(2) |  |  | 34 |  |  | 67 |  |  | 63 |  |  | (164) |  |  |  | -
|  | Total revenues |  |  | 423 |  |  | 169 |  |  | 425 |  |  | (164) |  |  |  | 853
Losses and loss adjustment |  |  | 5 |  |  | - |  |  | 118 |  |  | - |  |  |  | 123
Operating |  |  | 38 |  |  | 79 |  |  | 73 |  |  | - |  |  |  | 190
Interest |  |  | - |  |  | 97 |  |  | 102 |  |  | - |  |  |  | 199
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 52 |  |  | - |  |  |  | 52
Inter-segment expenses(2) |  |  | 89 |  |  | 7 |  |  | 64 |  |  | (160) |  |  |  | -
|  | Total expenses |  |  | 132 |  |  | 183 |  |  | 409 |  |  | (160) |  |  |  | 564
Income (loss) before income taxes |  |  | 291 |  |  | (14) |  |  | 16 |  |  | (4) |  |  |  | 289
Provision (benefit) for income taxes |  |  | 100 |  |  | 7 |  |  | 3 |  |  | (1) |  |  |  | 109
Net income (loss) |  | $ | 191 |  | $ | (21) |  | $ | 13 |  | $ | (3) |  |  | $ | 180
Identifiable assets |  | $ | 5,265 |  | $ | 2,599 |  | $ | 9,870 |  | $ | (2,898) | (3) |  | $ | 14,836
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements
and other fees.
(2) - Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables
and payables.
(3) - Consists of intercompany deferred income taxes, reinsurance balances and repurchase agreements.
Summary Of premiums earned on financial guarantees and insured derivatives by geographic location of risk |
|  |  |  | Years Ended December 31, |
| In millions |  |  | 2017 |  |  | 2016 |  |  | 2015 |
| Total premiums earned: |  |  |  |  |  |  |  |  |  |
|  | United States |  | $ | 169 |  | $ | 238 |  | $ | 310 |
|  | United Kingdom |  |  | 2 |  |  | 27 |  |  | 30 |
|  | Europe (excluding United Kingdom) |  |  | 1 |  |  | 4 |  |  | 4 |
|  | Internationally diversified |  |  | 1 |  |  | 3 |  |  | 3 |
|  | Other Americas |  |  | 25 |  |  | 26 |  |  | 29 |
|  | Asia |  |  | 1 |  |  | 2 |  |  | 3 |
|  | Other |  |  | 3 |  |  | 4 |  |  | 6 |
| Total |  | $ | 202 |  | $ | 304 |  | $ | 385 |

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