Business Segments (Tables)

12 Months Ended

Dec. 31, 2011

Business Segments [Abstract]

Summary Of Company's Operations

	Year Ended December 31, 2011
In millions	U.S. Public Finance Insurance			Structured Finance and International Insurance			Advisory Services		Corporate			Wind-down Operations			Eliminations					Consolidated
Revenues(1)	$	599		$	319		$	26	$	4		$	90		$	—				$	1,038
Realized gains and other settlements on insured derivatives		2			(2,373	)		—		—			—			—					(2,371	)
Unrealized gains (losses) on insured derivatives		—			(441	)		—		—			—			—					(441	)
Net gains (losses) on financial instruments at fair value and foreign exchange		96			58			—		23			(276	)		—					(99	)
Net investment losses related to other-than-temporary impairments		—			(62	)		—		(8	)		(31	)		—					(101	)
Net gains (losses) on extinguishment of debt		—			—			—		—			24			2					26
Other net realized gains (losses)		(31	)		1			—		25			4			—					(1	)
Revenues of consolidated VIEs		—			361			—		—			31			—					392
Inter-segment revenues(2)		79			91			41		152			(23	)		(340	)				—
Total revenues		745			(2,046	)		67		196			(181	)		(338	)				(1,557	)
Loss and loss adjustment expense		4			(84	)		—		—			—			—					(80	)
Operating expenses		52			166			58		92			3			—					371
Interest expense		—			133			—		58			109			—					300
Expenses of consolidated VIEs		—			70			—		—			21			—					91
Inter-segment expenses(2)		114			124			6		22			95			(361	)				—
Total expenses		170			409			64		172			228			(361	)				682
Income (loss) before taxes	$	575		$	(2,455	)	$	3	$	24		$	(409	)	$	23				$	(2,239	)
Identifiable assets	$	7,848		$	19,985		$	53	$	829		$	5,203		$	(7,045	)	(3	)	$	26,873

(1)—Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment fees and other fees.

(2)—Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to intercompany receivable and payables.

(3)—Consists of intercompany reinsurance balances, repurchase agreements and loans.

	Year Ended December 31, 2010
In millions	U.S. Public Finance Insurance		Structured Finance and International Insurance			Advisory Services			Corporate			Wind-down Operations			Eliminations				Consolidated
Revenues(1)	$	601	$	463		$	30		$	4		$	113		$	—			$	1,211
Realized gains and other settlements on insured derivatives		1		(163	)		—			—			—			—				(162	)
Unrealized gains (losses) on insured derivatives		—		(607	)		—			—			—			—				(607	)
Net gains (losses) on financial instruments at fair value and foreign exchange		55		135			2			(28	)		(76	)		—				88
Net investment losses related to other-than-temporary impairments		—		(5	)		—			—			(59	)		—				(64	)
Net gains (losses) on extinguishment of debt		—		—			—			—			35			—				35
Other net realized gains (losses)		—		29			—			—			—			—				29
Revenues of consolidated VIEs		—		246			—			—			96			22				364
Inter-segment revenues(2)		93		113			38			94			(18	)		(320	)			—
Total revenues		750		211			70			70			91			(298	)			894
Loss and loss adjustment expense		73		159			—			—			—			—				232
Operating expenses		43		149			64			89			4			—				349
Interest expense		—		135			—			65			125			—				325
Expenses of consolidated VIEs		—		64			—			—			19			—				83
Inter-segment expenses(2)		104		135			7			14			60			(320	)			—
Total expenses		220		642			71			168			208			(320	)			989
Income (loss) before taxes	$	530	$	(431	)	$	(1	)	$	(98	)	$	(117	)	$	22			$	(95	)
Identifiable assets	$	8,436	$	23,980		$	54		$	653		$	6,432		$	(7,276	)	(3)	$	32,279

(1)—Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment fees and other fees.

(2)—Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to intercompany receivable and payables.

(3)—Consists of intercompany reinsurance balances, repurchase agreements and loans.

	Year Ended December 31, 2009
In millions	U.S. Public Finance Insurance		Structured Finance and International Insurance			Advisory Services		Corporate			Wind-down Operations			Eliminations				Consolidated
Revenues(1)	$	638	$	593		$	32	$	4		$	193		$	—			$	1,460
Realized gains and other settlements on insured derivatives		1		(167	)		—		—			—			—				(166	)
Unrealized gains (losses) on insured derivatives		—		1,650			—		—			—			—				1,650
Net gains (losses) on financial instruments at fair value and foreign exchange		23		59			—		(3)			146			—				225
Net investment losses related to other-than-temporary impairments		—		(9	)		—		—			(352	)		—				(361	)
Net gains (losses) on extinguishment of debt		—		13			—		4			203			5				225
Other net realized gains (losses)		—		(64	)		—		—			4			—				(60	)
Revenues of consolidated VIEs		—		(58	)		—		—			39			—				(19	)
Inter-segment revenues(2)		146		177			22		19			(3	)		(361	)			—
Total revenues		808		2,194			54		24			230			(356	)			2,954
Loss and loss adjustment expense		94		770			—		—			—			—				864
Operating expenses		38		260			48		24			27			—				397
Interest expense		—		136			—		69			169			—				374
Expenses of consolidated VIEs		—		88			—		—			14			—				102
Inter-segment expenses(2)		125		116			1		—			116			(358	)			—
Total expenses		257		1,370			49		93			326			(358	)			1,737
Income (loss) before income taxes	$	551	$	824		$	5	$	(69	)	$	(96	)	$	2			$	1,217
Identifiable assets	$	8,184	$	16,447		$	125	$	1,276		$	8,092		$	(8,423	)	(3)	$	25,701

(1)—Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements, investment fees and other fees.

(2)—Represents intercompany premium income and expense, intercompany asset management fees and expenses, and intercompany interest income and expense pertaining to intercompany receivable and payables.

(3)—Consists of intercompany reinsurance balances, repurchase agreements and loans.

Summary Of Premiums Earned On Financial Guarantees And Insured Derivatives By Geographic Location Of Risk

	Years Ended December 31,
In millions	2011		2010		2009
Total premiums earned:
United States	$	545	$	555	$	661
United Kingdom		37		35		29
Europe (excluding United Kingdom)		29		23		21
Internationally diversified		33		41		83
Central and South America		36		40		41
Asia		15		9		17
Other		13		11		16
Total	$	708	$	714	$	868

Summary Of Segments Wind-Down Operations

	Year Ended December 31, 2011
In millions	Asset / Liability Products			Conduits			Eliminations			Total Wind- down Operations
Revenues(1)	$	90		$	—		$	—		$	90
Net gains (losses) on financial instruments at fair value and foreign exchange		(276	)		—			—			(276	)
Net investment losses related to other-than-temporary impairments		(31	)		—			—			(31	)
Net gains (losses) on extinguishment of debt		24			—			—			24
Other net realized gains (losses)		4			—			—			4
Revenues of consolidated VIEs		11			20			—			31
Inter-segment revenues(2)		(19	)		(4	)		—			(23	)
Total revenues		(197	)		16			—			(181	)
Operating expenses		3			—			—			3
Interest expense		109			—			—			109
Expenses of consolidated VIEs		2			19			—			21
Inter-segment expenses(2)		29			66			—			95
Total expenses		143			85			—			228
Income (loss) before taxes	$	(340	)	$	(69	)	$	—		$	(409	)
Identifiable assets	$	3,752		$	1,531		$	(80	)	$	5,203

(1)—Represents the sum of third-party interest income, investment management services fees and other fees.

(2)—Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.

	Year Ended December 31, 2010
In millions	Asset / Liability Products			Conduits			Eliminations			Total Wind- down Operations
Revenues(1)	$	109		$	4		$	—		$	113
Net gains (losses) on financial instruments at fair value and foreign exchange		(76	)		—			—			(76	)
Net investment losses related to other-than-temporary impairments		(59	)		—			—			(59	)
Net gains (losses) on extinguishment of debt		35			—			—			35
Other net realized gains (losses)		0			—			—			0
Revenues of consolidated VIEs		44			52			—			96
Inter-segment revenues(2)		(13	)		(4	)		(1	)		(18	)
Total revenues		40			52			(1	)		91
Operating expenses		5			(1	)		—			4
Interest expense		125			—			—			125
Expenses of consolidated VIEs		0			19			—			19
Inter-segment expenses(2)		58			3			(1	)		60
Total expenses		188			21			(1	)		208
Income (loss) before taxes	$	(148	)	$	31		$	—		$	(117	)
Identifiable assets	$	5,125		$	1,565		$	(258	)	$	6,432

(1)—Represents the sum of third-party interest income, investment management services fees and other fees.

(2)—Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.

	Year Ended December 31, 2009
In millions	Asset / Liability Products			Conduits			Eliminations			Total Wind- down Operations
Revenues(1)	$	192		$	1		$	—		$	193
Net gains (losses) on financial instruments at fair value and foreign exchange		146			—			—			146
Net investment losses related to other-than-temporary impairments		(352	)		—			—			(352	)
Net gains (losses) on extinguishment of debt		203			—			—			203
Other net realized gains (losses)		4			—			—			4
Revenues of consolidated VIEs		(13	)		52			—			39
Inter-segment revenues(2)		(1	)		(3	)		1			(3	)
Total revenues		179			50			1			230
Operating expenses		25			2			—			27
Interest expense		169			—			—			169
Expenses of consolidated VIEs		0			14			—			14
Inter-segment expenses(2)		112			5			(1	)		116
Total expenses		306			21			(1	)		326
Income (loss) before taxes	$	(127	)	$	29		$	2		$	(96	)
Identifiable assets	$	6,191		$	1,992		$	(91	)	$	8,092

(1)—Represents the sum of third-party interest income, investment management services fees and other fees.

(2)—Represents intercompany asset management fees and expenses plus intercompany interest income and expense pertaining to intercompany debt.