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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Premiums, fees and reimbursements received $ 25 $ 44 $ 28
Investment income received 92 77 118
Proceeds from litigation settlement 18 0 0
Financial guarantee losses and loss adjustment expenses paid (1,108) (343) (475)
Proceeds from recoveries and reinsurance, net of salvage paid to reinsurers 694 282 84
Proceeds from loan repurchase commitments 0 600 0
Operating expenses paid and other operating (97) (88) (74)
Interest paid, net of interest converted to principal (43) (61) (84)
Income taxes (paid) received (1) 0 13
Cash provided by discontinued operations 2 0 0
Net cash provided (used) by operating activities (418) 511 (390)
Cash flows from investing activities:      
Purchases of available-for-sale investments (1,009) (1,163) (1,133)
Sales of available-for-sale investments 1,100 597 1,095
Paydowns and maturities of available-for-sale investments 411 626 724
Purchases of investments at fair value (148) (206) (179)
Sales, paydowns and maturities of investments at fair value 228 174 198
Sales, paydowns and maturities (purchases) of short-term investments, net 31 (99) 143
Sales, paydowns and maturities of held-to-maturity investments 0 0 890
Paydowns and maturities of loans receivable and other instruments at fair value 8 77 16
Consolidation of variable interest entities 2 0 0
(Payments) proceeds for derivative settlements (10) (66) (16)
Capital expenditures 0 (1) 0
Proceeds from receipt of discontinued operations 10 0 0
Net cash provided (used) by investing activities 623 (61) 1,738
Cash flows from financing activities:      
Proceeds from investment agreements 8 2 12
Principal paydowns of investment agreements (54) (2) (48)
Principal paydowns of medium-term notes (74) (81) 0
Proceeds from variable interest debt 2 0 0
Principal paydowns of variable interest entity debt (135) (369) (914)
Principal paydowns of long-term debt (29) (6) (115)
Purchases of treasury stock (3) (1) (200)
Net cash provided (used) by financing activities (285) (457) (1,265)
Effect of exchange rate changes on cash and cash equivalents (2) 0 1
Net increase (decrease) in cash and cash equivalents (82) (7) 84
Cash and cash equivalents—beginning of year 160 167 83
Cash and cash equivalents—end of year 78 160 167
Reconciliation of net income (loss) to net cash provided (used) by operating activities:      
Net income (loss) (203) (445) (578)
Income (loss) from discontinued operations, net of income taxes (54) 0 0
Income (loss) from continuing operations (149) (445) (578)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided (used) by operating activities:      
Premiums receivable 32 31 29
Deferred acquisition costs 7 8 10
Accrued investment income (3) 0 6
Unearned premium revenue (56) (83) (77)
Loss and loss adjustment expense reserves (468) (102) 86
Insurance loss recoverable 120 381 16
Loan repurchase commitments 0 604 0
Accrued interest payable 121 107 133
Other liabilities (43) 4 34
Net realized investment gains (losses) 41 (5) (48)
Net (gains) losses on financial instruments at fair value and foreign exchange (31) (35) (29)
Other net realized (gains) losses (7) 21 (37)
Deferred income tax provision (benefit) 0 0 12
Other 18 25 53
Total adjustments to net income (loss) (269) 956 188
Net cash provided (used) by operating activities (418) 511 (390)
Supplementary Disclosure of Non-Cash Consolidated Cash Flow Information:      
Fixed-maturity securities held as available-for-sale, received as salvage 582 0 0
Investments carried at fair value, received as salvage $ 277 $ 0 $ 0