XML 41 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
Business Segments (Tables)
 9 Months Ended
Sep. 30, 2016
Text Block [Abstract]  
Summary of company's segment results
Three Months Ended September 30, 2016
U.S. International
Public and Structured
FinanceFinance
In millionsInsuranceCorporateInsuranceEliminationsConsolidated
Revenues(1)$84$6$48$-$138
Net change in fair value of insured derivatives--16-16
Net gains (losses) on financial instruments at fair value and
foreign exchange31(2)9-38
Other net realized gains (losses) -(2)--(2)
Revenues of consolidated VIEs--13-13
Inter-segment revenues(2)61512(33)-
Total revenues1211798(33)203
Losses and loss adjustment28-22-50
Operating91617-42
Interest-2227-49
Expenses of consolidated VIEs--7-7
Inter-segment expenses(2)18213(33)-
Total expenses554086(33)148
Income (loss) before income taxes66(23)12-55
Provision (benefit) for income taxes22(8)7324
Net income (loss)$44$(15)$5$(3)$31
Identifiable assets$5,343$2,407$7,020$(2,983)(3)$11,787
________________
(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 September 30, 2015
U.S. International
Public and Structured
FinanceFinance
In millionsInsuranceCorporateInsuranceEliminationsConsolidated
Revenues(1)$90$5$28$-$123
Net change in fair value of insured derivatives--3-3
Net gains (losses) on financial instruments at fair value and
foreign exchange1(45)(11)-(55)
Net investment losses related to other-than-temporary impairments(3)---(3)
Other net realized gains (losses) -(1)--(1)
Revenues of consolidated VIEs--25-25
Inter-segment revenues(2)81615(39)-
Total revenues96(25)60(39)92
Losses and loss adjustment (7)-46-39
Operating111817-46
Interest-2425-49
Expenses of consolidated VIEs--13-13
Inter-segment expenses(2)21117(39)-
Total expenses2543118(39)147
Income (loss) before income taxes71(68)(58)-(55)
Provision (benefit) for income taxes25(25)(20)-(20)
Net income (loss)$46$(43)$(38)$-$(35)
Identifiable assets$5,432$2,514$10,084$(2,979)(3)$15,051
________________
(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.

Nine Months Ended September 30, 2016
U.S. International
Public and Structured
FinanceFinance
In millionsInsuranceCorporateInsuranceEliminationsConsolidated
Revenues(1)$250$17$97$-$364
Net change in fair value of insured derivatives--(20)-(20)
Net gains (losses) on financial instruments at fair value and
foreign exchange65(105)23-(17)
Net investment losses related to other-than-temporary impairments-(1)--(1)
Net gains (losses) on extinguishment of debt-5--5
Other net realized gains (losses) -(4)1-(3)
Revenues of consolidated VIEs--25-25
Inter-segment revenues(2)164335(94)-
Total revenues331(45)161(94)353
Losses and loss adjustment 46-103-149
Operating295246-127
Interest-6979-148
Expenses of consolidated VIEs--30-30
Inter-segment expenses(2)52338(93)-
Total expenses127124296(93)454
Income (loss) before income taxes204(169)(135)(1)(101)
Provision (benefit) for income taxes69(50)(48)1(28)
Net income (loss)$135$(119)$(87)$(2)$(73)
Identifiable assets$5,343$2,407$7,020$(2,983)(3)$11,787
________________
(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.

Nine Months Ended September 30, 2015
U.S. International
Public and Structured
FinanceFinance
In millionsInsuranceCorporateInsuranceEliminationsConsolidated
Revenues(1)$288$18$86$-$392
Net change in fair value of insured derivatives--91-91
Net gains (losses) on financial instruments at fair value and
foreign exchange435(19)-20
Net investment losses related to other-than-temporary impairments(9)(1)--(10)
Net gains (losses) on extinguishment of debt-(1)--(1)
Other net realized gains (losses) (4)22--18
Revenues of consolidated VIEs--46-46
Inter-segment revenues(2)265348(127)-
Total revenues305126252(127)556
Losses and loss adjustment (5)-84-79
Operating295654-139
Interest-7376-149
Expenses of consolidated VIEs--39-39
Inter-segment expenses(2)67350(120)-
Total expenses91132303(120)406
Income (loss) before income taxes214(6)(51)(7)150
Provision (benefit) for income taxes74-(19)(3)52
Net income (loss)$140$(6)$(32)$(4)$98
Identifiable assets$5,432$2,514$10,084$(2,979)(3)$15,051
________________
(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.
Summary Of premiums earned on financial guarantees and insured derivatives by geographic location of risk
Three Months Ended September 30,Nine Months Ended September 30,
In millions2016201520162015
Total premiums earned:
United States$59$71$176$232
United Kingdom682023
Europe (excluding United Kingdom)1244
Internationally diversified3133
Other Americas672020
Asia1-22
Other1134
Total $77$90$228$288