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Consolidated Statements Of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Net realized investment gains (losses)     $ (10) $ (24)
Net gains (losses) on financial instruments at fair value and foreign exchange $ 11 $ 9 (1) 26
Net gains (losses) on extinguishment of debt 1 4 1 4
Fees and reimbursements 0 4 0 4
Total revenues 28 40 30 80
Expenses:        
Losses and loss adjustment 28 20 35 69
Interest 53 43 104 84
Total expenses 106 76 191 189
Income (loss) from continuing operations before income taxes (78) (36) (161) (109)
Provision (benefit) for income taxes 0 0 0 0
Income (loss) from continuing operations (78) (36) (161) (109)
Income (loss) from discontinued operations, net of income taxes 3 0 0 0
Net income (loss) (75) (36) (161) (109)
Less: Net income from discontinued operations attributable to noncontrolling interest (1) 0 6 0
Net income (loss) attributable to MBIA Inc. $ (74) $ (36) $ (167) $ (109)
Net income (loss) per common share attributable to MBIA Inc. - basic and diluted        
Continuing operations - basic $ (1.52) $ (0.72) $ (3.38) $ (2.2)
Continuing operations - diluted (1.52) (0.72) (3.38) (2.2)
Discontinued operations - basic 0.06 0 (0.13) 0
Discontinued operations - diluted 0.06 0 (0.13) 0
Net income (loss) per common share attributable to MBIA Inc. - basic (1.46) (0.72) (3.51) (2.2)
Net income (loss) per common share attributable to MBIA Inc. - diluted $ (1.46) $ (0.72) $ (3.51) $ (2.2)
Weighted average number of common shares outstanding:        
Basic [1] 49,040,489 49,826,695 49,490,701 49,729,610
Diluted [1] 49,040,489 49,826,695 49,490,701 49,729,610
Non Variable Interest Entity [Member]        
Revenues:        
Scheduled premiums earned $ 8 $ 10 $ 18 $ 21
Refunding premiums earned 0 1 0 5
Premiums earned (net of ceded premiums of $0, $0, $0 and $1) 8 11 18 26
Net investment income 38 25 63 43
Net realized investment gains (losses) (7) (21) (10) (24)
Net gains (losses) on financial instruments at fair value and foreign exchange 11 9 (1) 26
Other net realized gains (losses) 1 (16) 1 (19)
Expenses:        
Losses and loss adjustment 28 20 35 69
Amortization of deferred acquisition costs 1 1 2 3
Operating 20 11 42 30
Interest 53 43 104 84
Variable Interest Entity Primary Beneficiary [Member]        
Revenues:        
Net gains (losses) on financial instruments at fair value and foreign exchange (21) 24 (24) 20
Other net realized gains (losses) (3) 0 (18) 0
Expenses:        
Operating $ 4 $ 1 $ 8 $ 3
[1] Includes approximately 1 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for the three and six months ended June 30, 2023 and 2022.