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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Premiums, fees and reimbursements received $ 2 $ 2  
Investment income received 26 19  
Financial guarantee losses and loss adjustment expenses paid (28) (336)  
Proceeds from recoveries and reinsurance, net of salvage paid to reinsurers 3 622  
Operating expenses paid and other operating (34) (22)  
Other proceeds from consolidated variable interest entities 15 0  
Interest paid, net of interest converted to principal (14) (12)  
Cash (used) provided by discontinued operations (6) 0  
Net cash provided (used) by operating activities (36) 273  
Cash flows from investing activities:      
Purchases of available-for-sale investments (247) (352)  
Sales of available-for-sale investments 98 106  
Paydowns and maturities of available-for-sale investments 49 65  
Purchases of investments at fair value (24) (47)  
Sales, paydowns and maturities of investments at fair value 206 44  
Sales, paydowns and maturities (purchases) of short-term investments, net (13) (68)  
Paydowns and maturities of loans receivable 3 2  
(Payments) proceeds for derivative settlements (1) (4)  
Net cash provided (used) by investing activities 71 (254)  
Cash flows from financing activities:      
Proceeds from investment agreements 2 2  
Principal paydowns of investment agreements (1) (1)  
Principal paydowns of variable interest entity debt (21) (11)  
Principal paydowns of long-term debt 0 (17)  
Purchases of treasury stock (4) (2)  
Cash provided (used) by discontinued operations 4 0  
Net cash provided (used) by financing activities (20) (29)  
Effect of exchange rate changes on cash and cash equivalents 0 1  
Net increase (decrease) in cash and cash equivalents 15 (9)  
Cash and cash equivalents—beginning of period 78 160 $ 160
Cash and cash equivalents—end of period 93 151 78
Reconciliation of net income (loss) to net cash provided (used) by operating activities:      
Net income (loss) (86) (73) $ (73)
Income (loss) from discontinued operations, net of income taxes (3) 0  
Income (loss) from continuing operations (83) (73)  
Change in:      
Accrued investment income 0 (5)  
Unearned premium revenue (9) (15)  
Loss and loss adjustment expense reserves (66) (13)  
Insurance loss recoverable 42 392  
Accrued interest payable 34 24  
Other assets and liabilities 7 (36)  
Net realized investment gains (losses) 3 3  
Net (gains) losses on financial instruments at fair value and foreign exchange 16 (13)  
Other net realized (gains) losses 15 3  
Other operating 5 6  
Total adjustments to income (loss) from continuing operations 47 346  
Net cash provided (used) by operating activities $ (36) $ 273