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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 2 $ 2
Investment income received 16 26
Financial guarantee losses and loss adjustment expenses paid (19) (28)
Proceeds from recoveries and reinsurance, net of salvage paid to reinsurers 2 3
Operating expenses paid and other operating (19) (34)
Other proceeds from consolidated variable interest entities 0 15
Interest paid, net of interest converted to principal (12) (14)
Cash (used) provided by discontinued operations 0 (6)
Net cash provided (used) by operating activities (30) (36)
Cash flows from investing activities:    
Purchases of available-for-sale investments (53) (247)
Sales of available-for-sale investments 28 98
Paydowns, maturities and other proceeds of available-for-sale investments 28 49
Purchases of investments at fair value (46) (24)
Sales, paydowns, maturities and other proceeds of investments at fair value 65 209
Sales, paydowns and maturities (purchases) of short-term investments, net 112 (13)
(Payments) proceeds for derivative settlements (1) (1)
Net cash provided (used) by investing activities 133 71
Cash flows from financing activities:    
Proceeds from investment agreements 0 2
Principal paydowns of investment agreements (1) (1)
Principal paydowns of medium-term notes (36) 0
Proceeds from variable interest entity debt 2 0
Principal paydowns/redemptions of variable interest entity debt (36) (21)
Purchases of treasury stock (2) (4)
Cash provided (used) by discontinued operations 0 4
Net cash provided (used) by financing activities (73) (20)
Net increase (decrease) in cash and cash equivalents 30 15
Cash and cash equivalents - beginning of year 108 78
Cash and cash equivalents - end of year 138 93
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) (86) (86)
Income (loss) from discontinued operations, net of income taxes 1 (3)
Income (loss) from continuing operations (87) (83)
Change in:    
Unearned premium revenue (8) (9)
Loss and loss adjustment expense reserves (3) (66)
Insurance loss recoverable 4 42
Accrued interest payable 36 34
Other assets and liabilities 1 7
Net realized investment gains (losses) 1 3
Net (gains) losses on financial instruments at fair value and foreign exchange 21 16
Other net realized (gains) losses (2) 15
Other operating 7 5
Total adjustments to income (loss) from continuing operations 57 47
Net cash provided (used) by operating activities $ (30) $ (36)