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Common and Preferred Stock | 12 Months Ended
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Dec. 31, 2019
Common And Preferred Stock [Abstract] |
Common And Preferred Stock | Note 17: Common and Preferred Stock Common Stock Share Repurchases Repurchases of common stock may be made from time to time in the open market or in private transactions as permitted by securities laws and other legal requirements. The Company believes that share repurchases can be an appropriate deployment of capital in excess of amounts needed to support the Company’s liquidity while maintaining the claims-paying resources of MBIA Corp. and National, as well as other business needs. On November 3 , 2017, the Company’s Board of Directors approved a share repurchase authorization for the Company or National to repurchase up to $250 million of the Company’s outstanding common shares. The following table provides information about the Company’s or National’s share repurchases for the years ended December 31, 2019, 2018 and 2017:
In millions, except per share amounts |  | 2019 |  |  | 2018 |  |  | 2017 |
Number of shares repurchased |  |  | 11.1 |  |  |  | 5.8 |  |  |  | 43.0 |
Average price paid per share |  | $ | 9.12 |  |  | $ | 8.21 |  |  | $ | 7.55 |
Remaining authorization as of December 31 |  | $ | 101 |  |  | $ | 202 |  |  | $ | 250 |
Subsequent to December 31, 2019 through February 20 , 2020 , the Company repurchased 3.0 million common shares of MBIA Inc. at an average share price of $9.18 . As of February 20 , 2020 , $74 million remained available under this new program. Preferred Stock As of December 31, 2019, MBIA Insurance Corporation had 2,759 shares of preferred stock issued and outstanding with a carrying value of $28 million, including 1,444 shares held by MBIA Inc. that were purchased at a weighted average price of $10,900 per share or 10.9% of face value and 1,315 shares held by unaffiliated investors. During 201 9 , MBIA Inc. did not repurchase any additional shares. In accordance with MBIA’s fixed-rate election, the dividend rate on the preferred stock was determined using a fixed-rate equivalent of LIBOR plus 200 basis points. Each share of preferred stock has a par value of $1,000 with a liquidation preference of $100,000. The holders of the preferred stock are generally not entitled to any voting rights. Subject to certain requirements, the preferred stock may be redeemed, in whole or in part, at the option of MBIA Corp. at any time or from time to time for cash at a redemption price equal to the liquidation preference per share plus any accrued and unpaid dividends thereon at the date of redemption for the then current dividend period and any previously accumulated dividends payable without interest on such unpaid dividends. As of December 31, 2019 and 2018, there were no dividends declared on the preferred stock. Payment of dividends on MBIA Corp.’s preferred stock is subject to the same restrictions that apply to dividends on common stock under NYIL.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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