XML 19 R26.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2019
Text Block [Abstract]  
Accumulated Other Comprehensive Income
Note 18: Accumulated Other Comprehensive Income
The following table presents the changes in the components of AOCI for the years ended December 31, 2019
, 2018 and
2017
:
  
Unrealized
 
  
 
  
Instrument-Specific
 
  
 
  
Gains (Losses)
 
  
 
  
Credit Risk of
 
  
 
  
on AFS
 
  
Foreign Currency
 
  
Liabilities Measured
 
  
 
In millions
 
 
Securities, Net
 
 
  
Translation, Net
 
  
at Fair Value, Net
   
Total
 
Balance, January 1, 2017
 
$
6
 
 
$
(134
)
 
$
—
 
 
$
(128
)
Other comprehensive income (loss) before reclassifications
 
 
(24
)
 
 
125
 
 
 
—
 
 
 
101
(1)
 
Amounts reclassified from AOCI
 
 
8
 
 
 
—
 
 
 
—
 
 
 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net period other comprehensive income (loss)
 
 
(16
)
 
 
125
 
 
 
—
 
 
 
109
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2017
 
$
(10
)
 
$
(9
)
 
$
—
 
 
$
(19
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASU 2016-01 transition adjustment
 
 
(2
)
 
 
—
 
 
 
(162
)
 
 
(164
)
ASU 2018-02 transition adjustment
 
 
(3
)
 
 
—
 
 
 
—
 
 
 
(3
)
Net period other comprehensive income (loss)
 
 
(24
)
 
 
2
 
 
 
52
 
 
 
30
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2018
  $
(39
 )   $
(7
 )   $
(110
 )   $
(156
 )
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
    
139
     
—
      
(25
 )     
114
  
Amounts reclassified from AOCI
    
12
     
—
      
28
      
40
  
                                 
Net period other comprehensive income (loss)
    
151
     
—
      
3
      
154
  
                                 
Balance, December 31, 2019
  $
 112
    $
(7
 )    $
(107
 )    $
(2
 ) 
                                 
 
(1) Includes items included in the Company’s loss calculation to adjust the carrying value of MBIA UK to its fair value less costs to sell for the year ended December 31, 2016. The sale was completed in January of 2017 and as such, these amounts included in AOCI were reversed and included in the Sale Transaction
.
The following table presents the details of the reclassifications from AOCI for the three years ended December 31, 2019
,
2018
 and 2017
:
 
  
Amounts Reclassified
from AOCI
 Years
    
 
In millions
 
  
Ended December 31,
    
 
Details about AOCI Components
 
2019
 
  
2018
 
  
2017
 
  
Affected Line Item on the Consolidated
Statements of Operations
Unrealized gains (losses) on AFS securities:
   
     
     
   
Realized gain (loss) on sale of securities
   $
 14
     $
6
    $
3
   
Net gains (losses) on financial instruments at fair value and foreign exchange
OTTI
   
(25
 )     
(5
 )    
(7
 )  
Net investment losses related to OTTI
Amortization on securities
   
(1
 )     
(1
 )    
(5
 )  
Net investment income
                             
    
(12
)     
—
      
(9
 )  
Income (loss) before income taxes
   
—
      
—
      
(1
 )  
Provision (benefit) for income taxes
                             
 
    
(12
)     
—
      
(8
 )  
Net income (loss)
Instrument-specific credit risk of liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Settlement of liabilities
 
 
(28
)
 
 
—
 
 
 
—
 
 
Net gains (losses) on financial instruments at fair value and foreign exchange
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
 
$
(40
)
 
$
—
 
 
$
(8
)
 
Net income (loss)