Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2023

Text Block [Abstract]

Accumulated Other Comprehensive Income

Note 12: Accumulated Other Comprehensive Income

The following table presents the changes in the components of AOCI for the nine months ended September 30, 2023:

In millions	Unrealized Gains (Losses) on AFS Securities, Net		Foreign Currency Translation, Net		Instrument- Specific Credit Risk of Liabilities Measured at Fair Value, Net		Total
Balance, December 31, 2022	$	(234)	$	(4)	$	(45)	$	(283)
Other comprehensive income (loss) before reclassifications		(37)		-		(4)		(41)
Amounts reclassified from AOCI		16		-		45		61
Net period other comprehensive income (loss)		(21)		-		41		20
Balance, September 30, 2023	$	(255)	$	(4)	$	(4)	$	(263)

MBIA Inc. and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Note 12: Accumulated Other Comprehensive Income

The following table presents the details of the reclassifications from AOCI for the three and nine months ended September 30, 2023 and 2022:

In millions	Amounts Reclassified from AOCI
		Three Months Ended September 30,				Nine Months Ended  September 30,
Details about AOCI Components	2023		2022		2023		2022		Affected Line Item on the Consolidated Statements of Operations
Unrealized gains (losses) on AFS securities:
Realized gains (losses) on sale of securities	$	(3)	$	3	$	(16)	$	5	Net realized investment gains (losses)
Instrument-specific credit risk of liabilities:
Deconsolidation of VIEs		1		-		(20)		-	Other net realized gains (losses) - VIE
Settlement of liabilities		(12)		(23)		(25)		(11)	Net gains (losses) on financial instruments at fair value and foreign exchange - VIE
Total reclassifications for the period	$	(14)	$	(20)	$	(61)	$	(6)	Net income (loss)