MBIA, Inc. (MBI) financial statements (2021 and earlier)
Company profile
| Business Address |
1 MANHATTANVILLE ROAD PURCHASE, NY 10577 |
| State of Incorp. | CT |
| Fiscal Year End | December 31 |
| SIC | 6351 - Surety Insurance (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 167 | 83 | 280 | 146 | 187 | 522 | 782 | ||
| Cash and cash equivalents | 167 | 83 | 280 | 146 | 187 | 522 | 782 | ||
| Disposal group, including discontinued operation | 555 | ||||||||
| Assets held-for-sale | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 802 | ||
| Total current assets: | 167 | 83 | 280 | 146 | 742 | 522 | 1,584 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 21 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Total noncurrent assets: | 21 | ||||||||
| Other undisclosed assets | 5,584 | 7,180 | 7,796 | 8,949 | 10,395 | 14,333 | 14,700 | ||
| TOTAL ASSETS: | 5,751 | 7,284 | 8,076 | 9,095 | 11,137 | 14,855 | 16,284 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,249 | 2,249 | 2,121 | 1,986 | 1,908 | 1,810 | |||
| Long-term debt, excluding current maturities | 2,228 | 2,249 | 2,121 | 1,986 | 1,908 | 1,810 | |||
| Operating lease, liability | 21 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Total noncurrent liabilities: | 2,249 | 2,249 | 2,121 | 1,986 | 1,908 | 1,810 | |||
| Other undisclosed liabilities | 5,602 | 4,196 | 4,695 | 5,549 | 5,912 | 9,206 | 10,524 | ||
| Total liabilities: | 5,602 | 6,445 | 6,944 | 7,670 | 7,898 | 11,114 | 12,334 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 136 | 826 | 1,119 | 1,413 | 3,227 | 3,729 | 3,929 | ||
| Common stock | 283 | 283 | 284 | 284 | 284 | 282 | 281 | ||
| Treasury stock, value | (3,211) | (3,061) | (3,000) | (3,118) | (2,789) | (2,668) | (2,359) | ||
| Additional paid in capital | 2,962 | 2,999 | 3,025 | 3,171 | 3,160 | 3,138 | 3,128 | ||
| Accumulated other comprehensive income (loss) | 115 | (2) | (156) | (19) | (128) | (61) | 21 | ||
| Retained earnings (accumulated deficit) | (13) | 607 | 966 | 1,095 | 2,700 | 3,038 | 2,858 | ||
| Warrants and rights outstanding | 28 | ||||||||
| Other undisclosed stockholders' equity attributable to parent | (28) | ||||||||
| Other undisclosed stockholders' equity | 13 | 13 | 13 | 12 | 12 | 12 | 21 | ||
| Total stockholders' equity: | 149 | 839 | 1,132 | 1,425 | 3,239 | 3,741 | 3,950 | ||
| TOTAL LIABILITIES AND EQUITY: | 5,751 | 7,284 | 8,076 | 9,095 | 11,137 | 14,855 | 16,284 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 282 | 280 | 162 | 433 | 294 | 853 | 1,270 | |
| Financial services revenue | ✕ | ✕ | ✕ | 201 | 300 | 372 | 1,013 | |
| Other income | 31 | (282) | ✕ | |||||
| Cost of revenue | (63) | (683) | (220) | (123) | (133) | |||
| Policyholder benefits and claims incurred, net | (63) | ✕ | ✕ | ✕ | ✕ | |||
| Financial services costs | ✕ | ✕ | ✕ | (683) | (220) | (123) | (133) | |
| Gross profit: | 282 | 280 | 99 | (250) | 74 | 730 | 1,137 | |
| Operating expenses | (125) | (244) | ||||||
| Operating income (loss): | 282 | 280 | 99 | (375) | 74 | 730 | 893 | |
| Nonoperating income (expense) (Investment Income, Nonoperating) | (117) | 444 | ||||||
| Interest and debt expense | (178) | (1) | (206) | (169) | (197) | (199) | (207) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | 104 | 279 | (107) | (661) | (123) | 531 | 1,130 | |
| Other undisclosed loss from continuing operations before income taxes | (682) | (636) | (189) | (216) | (242) | (489) | ||
| Income (loss) from continuing operations before income taxes: | (578) | (357) | (296) | (661) | (339) | 289 | 641 | |
| Income tax expense (benefit) | (2) | (944) | 1 | (109) | (72) | |||
| Net income (loss) attributable to parent: | (578) | (359) | (296) | (1,605) | (338) | 180 | 569 | |
| Other undisclosed net loss available to common stockholders, basic | (6) | (16) | ||||||
| Net income (loss) available to common stockholders, basic: | (578) | (359) | (296) | (1,605) | (338) | 174 | 553 | |
| Other undisclosed net loss available to common stockholders, diluted | (27) | |||||||
| Net income (loss) available to common stockholders, diluted: | (578) | (359) | (296) | (1,605) | (338) | 174 | 526 | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (578) | (359) | (296) | (1,605) | (338) | 180 | 569 | |
| Other comprehensive income (loss) | (21) | (1) | 14 | |||||
| Comprehensive income (loss): | (578) | (359) | (296) | (1,626) | (339) | 194 | 569 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 117 | 154 | 30 | 130 | (66) | (96) | 107 | |
| Comprehensive income (loss), net of tax, attributable to parent: | (461) | (205) | (266) | (1,496) | (405) | 98 | 676 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.