MGIC Investment Corporation (MTG) Financial Statements (2024 and earlier)

Company Profile

Business Address 250 EAST KILBOURN AVENUE
MILWAUKEE, WI 53202
State of Incorp. WI
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 millions)

6/30/2024
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 investments378342301306179152
Cash and cash equivalents364327285288162152
Short-term investments1514161817 
Total current assets:378342301306179152
Noncurrent Assets
Property, plant and equipment394146475052
Deferred income tax assets80125  6
Total noncurrent assets:11916646475652
Other undisclosed assets6,0415,7066,9797,0015,9955,474
TOTAL ASSETS:6,5386,2147,3257,3556,2305,678
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,4661,5712,4642,6561,9202,096
Total liabilities:1,4661,5712,4642,6561,9202,096
Equity
Equity, attributable to parent5,0724,6434,8614,6994,3093,582
Common stock371371371371371371
Treasury stock, value(1,384)(1,050)(675)(393)(283)(175)
Additional paid in capital1,8081,7991,7951,8621,8701,863
Accumulated other comprehensive income (loss)(316)(482)12021773(124)
Retained earnings4,5934,0043,2512,6422,2791,647
Total equity:5,0724,6434,8614,6994,3093,582
TOTAL LIABILITIES AND EQUITY:6,5386,2147,3257,3556,2305,678

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

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,1551,1731,1861,1991,2141,124
Premiums earned, net9531,0071,014   
Net investment income215167156154167141
Cost of revenue  (77)(377)(131)(48)
Policyholder benefits and claims incurred, net  (65)(365)(119) 
Deferred policy acquisition costs, amortization expense  (13)(12)(12)(12)
Financial services costs(37)
Gross profit:1,1551,1731,1088221,0831,075
Operating expenses(226)(237)(198)(176)(183)(178)
Operating income:929936910646901897
Interest and debt expense(37)(88)(108)(86)(53)(53)
Income from continuing operations before equity method investments, income taxes:892848802559848844
Other undisclosed income from continuing operations before income taxes10242    
Income from continuing operations before income taxes:9021,090802559848844
Income tax expense(189)(225)(167)(113)(174)(174)
Income from continuing operations:713865635446674670
Income before gain (loss) on sale of properties:635446674670
Net income available to common stockholders, basic:713865635446674670
Other undisclosed net income available to common stockholders, diluted1314171818
Net income available to common stockholders, diluted:714869649463692688

Comprehensive Income ($ in millions)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:713865635446674670
Other comprehensive income (loss)165(601)(97)144197(80)
Comprehensive income:878264538590871590
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive income, net of tax, attributable to parent:878264538590871590

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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