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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 7 $ 12
Investment income received 50 41
Financial guarantee losses and loss adjustment expenses paid (87) (356)
Proceeds from recoveries and reinsurance, net of salvage paid to reinsurers 6 604
Operating expenses paid and other operating (48) (44)
Other proceeds from consolidated variable interest entities 28 0
Interest paid, net of interest converted to principal (27) (25)
Cash (used) provided by discontinued operations (7) 0
Net cash provided (used) by operating activities (78) 232
Cash flows from investing activities:    
Purchases of available-for-sale investments (295) (662)
Sales of available-for-sale investments 272 520
Paydowns, maturities and other proceeds of available-for-sale investments 157 221
Purchases of investments at fair value (45) (82)
Sales, paydowns, maturities and other proceeds of investments at fair value 237 72
Sales, paydowns and maturities (purchases) of short-term investments, net (16) (78)
Paydowns and maturities of loans receivable 5 4
(Payments) proceeds for derivative settlements (1) (7)
Net cash provided (used) by investing activities 314 (12)
Cash flows from financing activities:    
Proceeds from investment agreements 4 3
Principal paydowns of investment agreements (1) (2)
Principal paydowns of medium-term notes (10) (74)
Principal paydowns of variable interest entity debt (59) (68)
Principal paydowns of long-term debt 0 (29)
Purchases of treasury stock (28) (2)
Cash provided (used) by discontinued operations 6 0
Net cash provided (used) by financing activities (88) (172)
Effect of exchange rate changes on cash and cash equivalents 0 (1)
Net increase (decrease) in cash and cash equivalents 148 47
Cash and cash equivalents—beginning of period 78 160
Cash and cash equivalents—end of period 226 207
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) (161) (109)
Income (loss) from discontinued operations, net of income taxes 0 0
Income (loss) from continuing operations (161) (109)
Change in:    
Unearned premium revenue (17) (25)
Loss and loss adjustment expense reserves (87) 65
Insurance loss recoverable 36 302
Accrued interest payable 71 51
Other assets and liabilities 4 (54)
Net realized investment gains (losses) 10 24
Net (gains) losses on financial instruments at fair value and foreign exchange 25 (46)
Other net realized (gains) losses 17 19
Other operating 24 5
Total adjustments to income (loss) from continuing operations 83 341
Net cash provided (used) by operating activities (78) 232
Supplementary Disclosure of Non-Cash Consolidated Cash Flow Information:    
Fixed-maturity securities held as available-for-sale, received as salvage 0 459
Investments carried at fair value, received as salvage $ 0 $ 112