MBIA Inc. (MBI) Financial Statements (2024 and earlier)

Company Profile

Business Address 1 MANHATTANVILLE ROAD
PURCHASE, NY 10577
State of Incorp. CT
Fiscal Year End December 31
Industry (SIC) 6351 - Surety Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments   160,000167,00083,000280,000
Cash and cash equivalents   160,000167,00083,000280,000
Disposal group, including discontinued operation18,00036,000    
Total current assets:18,00036,000160,000167,00083,000280,000
Noncurrent Assets
Operating lease, right-of-use asset15,00017,000  21,000
Total noncurrent assets:15,00017,000  21,000 
Other undisclosed assets2,573,0003,322,0004,536,0005,584,0007,180,0007,796,000
TOTAL ASSETS:2,606,0003,375,0004,696,0005,751,0007,284,0008,076,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation     2,249,0002,249,000
Long-term debt, excluding current maturities     2,228,0002,249,000
Liabilities, other than long-term debt15,00017,000    
Operating lease, liability15,00017,000  21,000
Total noncurrent liabilities:15,00017,000  2,249,0002,249,000
Other undisclosed liabilities4,238,0004,234,0004,996,0005,602,0004,196,0004,695,000
Total liabilities:4,253,0004,251,0004,996,0005,602,0006,445,0006,944,000
Equity
Equity, attributable to parent(1,657,000)(882,000)(313,000)136,000826,0001,119,000
Common stock283,000283,000283,000283,000283,000284,000
Treasury stock, value(3,172,000)(3,154,000)(3,169,000)(3,211,000)(3,061,000)(3,000,000)
Additional paid in capital2,515,0002,925,0002,931,0002,962,0002,999,0003,025,000
Accumulated other comprehensive income (loss)(139,000)(283,000)100,000115,000(2,000)(156,000)
Retained earnings (accumulated deficit)(1,144,000)(653,000)(458,000)(13,000)607,000966,000
Other undisclosed equity10,0006,00013,00013,00013,00013,000
Total equity:(1,647,000)(876,000)(300,000)149,000839,0001,132,000
TOTAL LIABILITIES AND EQUITY:2,606,0003,375,0004,696,0005,751,0007,284,0008,076,000

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues7,000154,000189,000282,000280,000162,000
Realized investment losses(76,000)(41,000)    
Cost of revenue
(Policyholder Benefits and Claims Incurred, Net)
      (63,000)
Gross profit:7,000154,000189,000282,000280,00099,000
Operating income:7,000154,000189,000282,000280,00099,000
Interest and debt expense(210,000)(179,000)(163,000)(178,000)(1,000)(206,000)
Income (loss) from continuing operations before equity method investments, income taxes:(203,000)(25,000)26,000104,000279,000(107,000)
Other undisclosed loss from continuing operations before income taxes(281,000)(123,000)(471,000)(682,000)(636,000)(189,000)
Loss from continuing operations before income taxes:(484,000)(148,000)(445,000)(578,000)(357,000)(296,000)
Income tax expense  (1,000)  (2,000) 
Loss from continuing operations:(484,000)(149,000)(445,000)(578,000)(359,000)(296,000)
Loss before gain (loss) on sale of properties:(445,000)(578,000)(359,000)(296,000)
Income (loss) from discontinued operations(3,000)(54,000)    
Net loss:(487,000)(203,000)(445,000)(578,000)(359,000)(296,000)
Net income (loss) attributable to noncontrolling interest(4,000)8,000    
Net loss attributable to parent:(491,000)(195,000)(445,000)(578,000)(359,000)(296,000)
Other undisclosed net income (loss) available to common stockholders, basic7,00046,000    
Net loss available to common stockholders, diluted:(484,000)(149,000)(445,000)(578,000)(359,000)(296,000)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(487,000)(203,000)(445,000)(578,000)(359,000)(296,000)
Comprehensive loss:(487,000)(203,000)(445,000)(578,000)(359,000)(296,000)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(4,000)8,000    
Other undisclosed comprehensive income (loss), net of tax, attributable to parent144,000(383,000)(15,000)117,000154,00030,000
Comprehensive loss, net of tax, attributable to parent:(347,000)(578,000)(460,000)(461,000)(205,000)(266,000)

Statements Sources

The financial statements are based on the Company's filings with 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.

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