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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Net realized investment gains (losses)     $ (23) $ (37)
Net gains (losses) on financial instruments at fair value and foreign exchange $ 21 $ 25 20 51
Net gains (losses) on extinguishment of debt 0 0 1 4
Fees and reimbursements 0 0 0 4
Total revenues 8 17 38 97
Expenses:        
Losses and loss adjustment 123 (12) 158 57
Interest 53 46 157 130
Total expenses 193 52 384 241
Income (loss) from continuing operations before income taxes (185) (35) (346) (144)
Provision (benefit) for income taxes 0 0 0 0
Income (loss) from continuing operations (185) (35) (346) (144)
Income (loss) from discontinued operations, net of income taxes (1) 1 (2) 1
Net income (loss) (186) (34) (348) (143)
Less: Net income from discontinued operations attributable to noncontrolling interest (1) 0 5 0
Net income (loss) attributable to MBIA Inc. $ (185) $ (34) $ (353) $ (143)
Net income (loss) per common share attributable to MBIA Inc. - basic and diluted        
Continuing operations - basic $ (3.93) $ (0.68) $ (7.1) $ (2.88)
Continuing operations - diluted (3.93) (0.68) (7.1) (2.88)
Discontinued operations - basic (0.01) 0.01 (0.15) 0.01
Discontinued operations - diluted (0.01) 0.01 (0.15) 0.01
Net income (loss) per common share attributable to MBIA Inc. - basic (3.94) (0.67) (7.25) (2.87)
Net income (loss) per common share attributable to MBIA Inc. - diluted $ (3.94) $ (0.67) $ (7.25) $ (2.87)
Weighted average number of common shares outstanding:        
Basic [1] 47,009,765 49,878,191 48,654,638 49,779,681
Diluted [1] 47,009,765 49,878,191 48,654,638 49,779,681
Non Variable Interest Entity [Member]        
Revenues:        
Scheduled premiums earned $ 9 $ 10 $ 27 $ 31
Refunding premiums earned 1 1 1 6
Premiums earned (net of ceded premiums of $0, $0, $0 and $1) 10 11 28 37
Net investment income 26 24 89 67
Net realized investment gains (losses) (13) (13) (23) (37)
Net gains (losses) on financial instruments at fair value and foreign exchange 21 25 20 51
Other net realized gains (losses) (6) 1 (5) (18)
Expenses:        
Losses and loss adjustment 123 (12) 158 57
Amortization of deferred acquisition costs 1 2 3 5
Operating 15 14 0 44
Interest 53 46 157 130
Variable Interest Entity, Primary Beneficiary [Member]        
Revenues:        
Net gains (losses) on financial instruments at fair value and foreign exchange (23) (36) (47) (16)
Other net realized gains (losses) (7) 5 (25) 5
Expenses:        
Operating $ 1 $ 2 $ 9 $ 5
[1] Includes approximately 1 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for the three and nine months ended September 30, 2023 and 2022.