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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2018
Text Block [Abstract] |
Summary of company's segment results |
|  |  |  | Three Months Ended June 30, 2018
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 41 |  | $ | 7 |  | $ | 22 |  | $ | - |  | $ | 70
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | (7) |  |  | - |  |  | (7)
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | (8) |  |  | 28 |  |  | 2 |  |  | - |  |  | 22
Net investment losses related to other-than-temporary impairments |  |  | (1) |  |  | - |  |  | - |  |  | - |  |  | (1)
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | (72) |  |  | - |  |  | (72)
Inter-segment revenues(2) |  |  | 6 |  |  | 11 |  |  | 6 |  |  | (23) |  |  | -
|  | Total revenues |  |  | 38 |  |  | 46 |  |  | (49) |  |  | (23) |  |  | 12
Losses and loss adjustment |  |  | 59 |  |  | - |  |  | - |  |  | - |  |  | 59
Operating |  |  | 6 |  |  | 13 |  |  | 4 |  |  | - |  |  | 23
Interest |  |  | - |  |  | 20 |  |  | 32 |  |  | - |  |  | 52
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 24 |  |  | - |  |  | 24
Inter-segment expenses(2) |  |  | 9 |  |  | 3 |  |  | 12 |  |  | (24) |  |  | -
|  | Total expenses |  |  | 74 |  |  | 36 |  |  | 72 |  |  | (24) |  |  | 158
Income (loss) before income taxes |  |  | (36) |  |  | 10 |  |  | (121) |  |  | 1 |  |  | (146)
Provision (benefit) for income taxes |  |  | (8) |  |  | - |  |  | - |  |  | 8 |  |  | -
Net income (loss) |  | $ | (28) |  | $ | 10 |  | $ | (121) |  | $ | (7) |  | $ | (146)
Identifiable assets |  | $ | 4,412 |  | $ | 1,100 |  | $ | 5,217 |  | $ | (2,030) | (3) | $ | 8,699
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 primarily of intercompany reinsurance balances and repurchase agreements.
|  |  |  | Three Months Ended June 30, 2017
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 62 |  | $ | 8 |  | $ | 17 |  | $ | - |  | $ | 87
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | 3 |  |  | - |  |  | 3
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | 14 |  |  | (55) |  |  | (20) |  |  | - |  |  | (61)
Net investment losses related to other-than-temporary impairments |  |  | (11) |  |  | - |  |  | - |  |  | - |  |  | (11)
Other net realized gains (losses) |  |  | - |  |  | (1) |  |  | 35 |  |  | - |  |  | 34
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | 20 |  |  | - |  |  | 20
Inter-segment revenues(2) |  |  | 5 |  |  | 15 |  |  | 11 |  |  | (31) |  |  | -
|  | Total revenues |  |  | 70 |  |  | (33) |  |  | 66 |  |  | (31) |  |  | 72
Losses and loss adjustment |  |  | 158 |  |  | - |  |  | 12 |  |  | - |  |  | 170
Operating |  |  | 16 |  |  | 14 |  |  | 10 |  |  | - |  |  | 40
Interest |  |  | - |  |  | 22 |  |  | 28 |  |  | - |  |  | 50
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 22 |  |  | - |  |  | 22
Inter-segment expenses(2) |  |  | 16 |  |  | 1 |  |  | 14 |  |  | (31) |  |  | -
|  | Total expenses |  |  | 190 |  |  | 37 |  |  | 86 |  |  | (31) |  |  | 282
Income (loss) before income taxes |  |  | (120) |  |  | (70) |  |  | (20) |  |  | - |  |  | (210)
Provision (benefit) for income taxes |  |  | (43) |  |  | 1,074 |  |  | 1,199 |  |  | (1,211) |  |  | 1,019
Net income (loss) |  | $ | (77) |  | $ | (1,144) |  | $ | (1,219) |  | $ | 1,211 |  | $ | (1,229)
Identifiable assets |  | $ | 5,074 |  | $ | 1,233 |  | $ | 5,313 |  | $ | (1,853) | (3) | $ | 9,767
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 primarily of intercompany reinsurance balances and repurchase agreements.
|  |  |  | Six Months Ended June 30, 2018
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 94 |  | $ | 14 |  | $ | 39 |  | $ | - |  | $ | 147
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | (12) |  |  | - |  |  | (12)
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | (14) |  |  | 31 |  |  | (4) |  |  | - |  |  | 13
Net investment losses related to other-than-temporary impairments |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | (2)
Other net realized gains (losses) |  |  | - |  |  | (2) |  |  | 1 |  |  | - |  |  | (1)
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | (60) |  |  | - |  |  | (60)
Inter-segment revenues(2) |  |  | 13 |  |  | 24 |  |  | 13 |  |  | (50) |  |  | -
|  | Total revenues |  |  | 91 |  |  | 67 |  |  | (23) |  |  | (50) |  |  | 85
Losses and loss adjustment |  |  | 136 |  |  | - |  |  | (5) |  |  | - |  |  | 131
Operating |  |  | 9 |  |  | 26 |  |  | 12 |  |  | - |  |  | 47
Interest |  |  | - |  |  | 40 |  |  | 63 |  |  | - |  |  | 103
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 46 |  |  | - |  |  | 46
Inter-segment expenses(2) |  |  | 24 |  |  | 9 |  |  | 18 |  |  | (51) |  |  | -
|  | Total expenses |  |  | 169 |  |  | 75 |  |  | 134 |  |  | (51) |  |  | 327
Income (loss) before income taxes |  |  | (78) |  |  | (8) |  |  | (157) |  |  | 1 |  |  | (242)
Provision (benefit) for income taxes |  |  | (17) |  |  | (33) |  |  | (5) |  |  | 57 |  |  | 2
Net income (loss) |  | $ | (61) |  | $ | 25 |  | $ | (152) |  | $ | (56) |  | $ | (244)
Identifiable assets |  | $ | 4,412 |  | $ | 1,100 |  | $ | 5,217 |  | $ | (2,030) | (3) | $ | 8,699
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 primarily of intercompany reinsurance balances and repurchase agreements.
|  |  |  | Six Months Ended June 30, 2017
|  |  |  | U.S. |  |  |  | International |  |  |  |  |  |
|  |  |  | Public |  |  |  | and Structured |  |  |  |  |  |
|  |  |  | Finance |  |  |  | Finance |  |  |  |  |  |
In millions |  | Insurance |  | Corporate |  | Insurance |  | Eliminations |  | Consolidated
Revenues(1) |  | $ | 130 |  | $ | 16 |  | $ | 44 |  | $ | - |  | $ | 190
Net change in fair value of insured derivatives |  |  | - |  |  | - |  |  | (50) |  |  | - |  |  | (50)
Net gains (losses) on financial instruments at fair value and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| foreign exchange |  |  | 18 |  |  | (39) |  |  | (23) |  |  | - |  |  | (44)
Net investment losses related to other-than-temporary impairments |  |  | (13) |  |  | - |  |  | - |  |  | - |  |  | (13)
Net gains (losses) on extinguishment of debt |  |  | - |  |  | 8 |  |  | - |  |  | - |  |  | 8
Other net realized gains (losses) |  |  | - |  |  | (2) |  |  | 39 |  |  | - |  |  | 37
Revenues of consolidated VIEs |  |  | - |  |  | - |  |  | 21 |  |  | - |  |  | 21
Inter-segment revenues(2) |  |  | 10 |  |  | 31 |  |  | 20 |  |  | (61) |  |  | -
|  | Total revenues |  |  | 145 |  |  | 14 |  |  | 51 |  |  | (61) |  |  | 149
Losses and loss adjustment |  |  | 169 |  |  | - |  |  | 95 |  |  | - |  |  | 264
Operating |  |  | 26 |  |  | 32 |  |  | 18 |  |  | - |  |  | 76
Interest |  |  | - |  |  | 44 |  |  | 54 |  |  | - |  |  | 98
Expenses of consolidated VIEs |  |  | - |  |  | - |  |  | 41 |  |  | - |  |  | 41
Inter-segment expenses(2) |  |  | 31 |  |  | 2 |  |  | 28 |  |  | (61) |  |  | -
|  | Total expenses |  |  | 226 |  |  | 78 |  |  | 236 |  |  | (61) |  |  | 479
Income (loss) before income taxes |  |  | (81) |  |  | (64) |  |  | (185) |  |  | - |  |  | (330)
Provision (benefit) for income taxes |  |  | (31) |  |  | 1,070 |  |  | 1,142 |  |  | (1,210) |  |  | 971
Net income (loss) |  | $ | (50) |  | $ | (1,134) |  | $ | (1,327) |  | $ | 1,210 |  | $ | (1,301)
Identifiable assets |  | $ | 5,074 |  | $ | 1,233 |  | $ | 5,313 |  | $ | (1,853) | (3) | $ | 9,767
________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 primarily of intercompany reinsurance balances and repurchase agreements.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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- References No definition available. + Details
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