Business Segments (Tables)

3 Months Ended

Mar. 31, 2016

Text Block [Abstract]

Summary of company's segment results

			Three Months Ended March 31, 2016
			U.S.				International
			Public				and Structured
			Finance				Finance
In millions			Insurance		Corporate		Insurance		Eliminations			Consolidated
Revenues(1)			$	84	$	5	$	26	$	-		$	115
Net change in fair value of insured derivatives				-		-		(28)		-			(28)
Net gains (losses) on financial instruments at fair value and
	foreign exchange			9		(84)		6		-			(69)
Net investment losses related to other-than-temporary impairments				-		(1)		-		-			(1)
Net gains (losses) on extinguishment of debt				-		2		-		-			2
Other net realized gains (losses)				-		(1)		-		-			(1)
Revenues of consolidated VIEs				-		-		14		-			14
Inter-segment revenues(2)				6		16		12		(34)			-
		Total revenues		99		(63)		30		(34)			32
Losses and loss adjustment				9		-		13		-			22
Operating				9		22		14		-			45
Interest				-		23		27		-			50
Expenses of consolidated VIEs				-		-		16		-			16
Inter-segment expenses(2)				18		-		14		(32)			-
		Total expenses		36		45		84		(32)			133
Income (loss) before income taxes				63		(108)		(54)		(2)			(101)
Provision (benefit) for income taxes				22		(24)		(23)		2			(23)
Net income (loss)			$	41	$	(84)	$	(31)	$	(4)		$	(78)
Identifiable assets			$	5,268	$	2,478	$	7,845	$	(2,840)	(3)	$	12,751
________________
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.
(2) - Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - Consists of intercompany deferred income taxes, reinsurance balances and repurchase agreements.

			Three Months Ended March 31, 2015
			U.S.				International
			Public				and Structured
			Finance				Finance
In millions			Insurance		Corporate		Insurance		Eliminations			Consolidated
Revenues(1)			$	105	$	5	$	29	$	-		$	139
Net change in fair value of insured derivatives				-		-		28		-			28
Net gains (losses) on financial instruments at fair value and
	foreign exchange			3		32		(5)		-			30
Other net realized gains (losses)				(4)		24		-		-			20
Revenues of consolidated VIEs				-		-		2		-			2
Inter-segment revenues(2)				10		16		18		(44)			-
		Total revenues		114		77		72		(44)			219
Losses and loss adjustment				(6)		-		-		-			(6)
Operating				10		19		19		-			48
Interest				-		25		25		-			50
Expenses of consolidated VIEs				-		-		14		-			14
Inter-segment expenses(2)				24		1		18		(43)			-
		Total expenses		28		45		76		(43)			106
Income (loss) before income taxes				86		32		(4)		(1)			113
Provision (benefit) for income taxes				29		17		(2)		-			44
Net income (loss)			$	57	$	15	$	(2)	$	(1)		$	69
Identifiable assets			$	5,859	$	2,730	$	10,565	$	(3,259)	(3)	$	15,895
________________
(1) - Represents the sum of third-party financial guarantee net premiums earned, net investment income, insurance-related fees and reimbursements and other fees.
(2) - Represents intercompany premium income and expense and intercompany interest income and expense pertaining to intercompany receivables and payables.
(3) - Consists of intercompany reinsurance balances, repurchase agreements and deferred income taxes.

Summary Of premiums earned on financial guarantees and insured derivatives by geographic location of risk

		Three Months Ended March 31,
In millions		2016		2015
Total premiums earned:
	United States	$	59	$	87
	United Kingdom		7		7
	Europe (excluding United Kingdom)		1		2
	Internationally diversified		-		1
	Other Americas		7		6
	Asia		1		1
	Other		1		1
Total		$	76	$	105