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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2020
Text Block [Abstract]  
Summary of company's segment results
The following tables provide the Company’s segment results for the three months ended March 31, 2020 and 2019:
                                                                                                               
 
  
Three Months Ended March 31, 2020
  
In millions
  
U.S. Public
Finance
Insurance
 
  
Corporate
 
  
International
and Structured
Finance
Insurance
 
  
Eliminations
 
  
Consolidated
 
Revenues
(1)
   $
30 
     $
6 
     $
7 
     $
- 
     $
43 
  
Net gains (losses) on financial instruments at fair value and foreign exchange
    
(18)
      
(56)
      
11 
      
- 
      
(63)
  
Revenues of consolidated VIEs
    
- 
      
- 
      
14 
      
- 
      
14 
  
Inter-segment revenues
(2)
    
7 
      
18 
      
4 
      
(29)
      
- 
  
                                         
Total revenues
    
19 
      
(32)
      
36 
      
(29)
      
(6)
  
Losses and loss adjustment
    
48 
      
- 
      
195 
      
- 
      
243 
  
Operating
    
2 
      
14 
      
4 
      
- 
      
20 
  
Interest
    
- 
      
16 
      
31 
      
- 
      
47 
  
Expenses of consolidated VIEs
    
- 
      
-
      
17 
      
- 
      
17
 
Inter-segment expenses
(2)
    
14 
      
6 
      
9 
      
(29)
      
- 
  
                                         
Total expenses
    
64 
      
36 
      
256 
      
(29)
      
327 
  
                                         
Income (loss) before income taxes
   $
(45)
     $
(68)
     $
(220)
     $
- 
     $
(333)
  
                                         
Identifiable assets
   $
3,867 
     $
1,000 
     $
4,051 
     $
(2,286)
(3)
 		   $
6,632 
  
                                         
 
 
 
 
 
 
 
(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 March 31, 2019
  
In millions
  
U.S. Public
Finance
Insurance
 
  
Corporate
 
  
International
and Structured
Finance
Insurance
 
  
Eliminations
 
  
Consolidated
 
Revenues
(1)
   $
38 
     $
7 
     $
10 
     $
-
  
 
 
 
 
 
 
 
 
 $
55 
  
Net change in fair value of insured derivatives
    
-
      
-
      
14 
      
-
      
14 
  
Net gains (losses) on financial instruments at fair value and foreign exchange
    
40 
      
(18)
      
-
      
-
      
22 
  
Net investment losses related to other-than-temporary impairments
    
(28)
      
-
      
-
      
-
      
(28)
  
Other net realized gains (losses)
    
1 
      
(1)
      
1 
      
-
      
1 
  
Revenues of consolidated VIEs
    
(14)
      
-
      
-
      
-
      
(14)
  
Inter-segment revenues
(2)
    
7 
      
19 
      
3 
      
(29)
      
-
  
                                         
Total revenues
    
44 
      
7 
      
28 
      
(29)
      
50 
  
Losses and loss adjustment
    
(50)
      
-
      
12 
      
-
      
(38)
  
Operating
    
2 
      
22 
      
6 
      
-
      
30 
  
Interest
    
-
      
19 
      
33 
      
-
      
52 
  
Expenses of consolidated VIEs
    
-
      
-
      
25 
      
-
      
25 
  
Inter-segment expenses
(2)
    
15 
      
6 
      
8 
      
(29)
      
-
  
                                         
Total expenses
    
(33)
      
47 
      
84 
      
(29)
      
69 
  
                                         
Income (loss) before income taxes
   $
77 
     $
(40)
     $
(56)
     $
-
     $
(19)
  
                                         
 
 
 
 
 
 
 
(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.