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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Investments:    
Premiums receivable (net of allowance for credit losses $0 and $0) $ 146 $ 160
Assets held for sale 73 80
Total assets 2,606 3,375
Liabilities:    
Liabilities held for sale 64 61
Total liabilities 4,253 4,251
Commitments and contingencies (Refer to Note 13: Commitments and Contingencies)
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--283,186,115 and 283,186,115 283 283
Additional paid-in capital 2,515 2,925
Retained earnings (deficit) (1,144) (653)
Accumulated other comprehensive income (loss), net of tax of $7 and $8 (139) (283)
Treasury stock, at cost--232,046,875 and 228,333,444 shares (3,172) (3,154)
Total shareholders' equity of MBIA Inc. (1,657) (882)
Preferred stock of subsidiary and noncontrolling interest held for sale 10 6
Total equity (1,647) (876)
Total liabilities and equity 2,606 3,375
Non Variable Interest Entity [Member]    
Investments:    
Fixed-maturity securities held as available-for-sale, at fair value (amortized cost $1,175 and $2,044) 1,043 1,812
Investments carried at fair value 337 511
Short-term investments, at fair value (amortized cost $444 and $353) 548 353
Other investments at amortized cost 3 0
Total investments 1,931 2,676
Cash and cash equivalents 104 50
Premiums receivable (net of allowance for credit losses $0 and $0) 146 160
Deferred acquisition costs 31 35
Insurance loss recoverable 183 137
Assets held for sale 73 80
Other assets 76 73
Liabilities:    
Unearned premium revenue 232 266
Loss and loss adjustment expense reserves 473 439
Long-term debt 2,585 2,428
Medium-term notes (includes financial instruments carried at fair value of $37 and $41) 497 501
Investment agreements 221 233
Derivative liabilities 2 49
Liabilities held for sale 64 61
Other liabilities 84 94
Variable Interest Entity, Primary Beneficiary [Member]    
Investments:    
Investments carried at fair value 22 47
Other assets 2 23
Cash 3 16
Loans receivable at fair value 35 78
Liabilities:    
Derivative liabilities 14 6
Variable interest entity debt (includes financial instruments carried at fair value of $78 and $172) $ 81 $ 174