MGIC Investment Corporation (MTG) financial statements (2021 and earlier)
Company profile
| Business Address |
250 EAST KILBOURN AVENUE MILWAUKEE, WI 53202 |
| State of Incorp. | WI |
| 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 | 306 | 179 | 152 | 100 | 155 | 181 | 198 | ||
| Cash and cash equivalents | 288 | 162 | 152 | 100 | 155 | 181 | 198 | ||
| Short-term investments | 18 | 17 | |||||||
| Restricted cash and investments | 17 | ||||||||
| Total current assets: | 306 | 179 | 152 | 100 | 155 | 181 | 215 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 47 | 50 | 52 | 45 | 36 | 30 | 29 | ||
| Deferred income tax assets | 6 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Total noncurrent assets: | 47 | 56 | 52 | 45 | 36 | 30 | 29 | ||
| Other undisclosed assets | 7,001 | 5,995 | 5,474 | 5,475 | 5,543 | 5,668 | 5,023 | ||
| TOTAL ASSETS: | 7,355 | 6,230 | 5,678 | 5,619 | 5,735 | 5,880 | 5,266 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,223 | ||||||||
| Long-term debt, excluding current maturities | 1,223 | ||||||||
| Total noncurrent liabilities: | 1,223 | ||||||||
| Other undisclosed liabilities | 2,656 | 1,920 | 2,096 | 2,465 | 3,186 | 2,420 | 4,230 | ||
| Total liabilities: | 2,656 | 1,920 | 2,096 | 2,465 | 3,186 | 3,643 | 4,230 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 4,699 | 4,309 | 3,582 | 3,155 | 2,549 | 2,236 | 1,037 | ||
| Common stock | 371 | 371 | 371 | 371 | 359 | 340 | 340 | ||
| Treasury stock, value | (393) | (283) | (175) | (150) | (3) | (33) | |||
| Additional paid in capital | 1,862 | 1,870 | 1,863 | 1,851 | 1,782 | 1,670 | 1,664 | ||
| Accumulated other comprehensive income (loss) | 217 | 73 | (124) | (44) | (75) | (61) | (81) | ||
| Retained earnings (accumulated deficit) | 2,642 | 2,279 | 1,647 | 977 | 633 | 290 | (852) | ||
| Total stockholders' equity: | 4,699 | 4,309 | 3,582 | 3,155 | 2,549 | 2,236 | 1,037 | ||
| TOTAL LIABILITIES AND EQUITY: | 7,355 | 6,230 | 5,678 | 5,619 | 5,735 | 5,880 | 5,266 | ||
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 | 1,199 | 1,214 | 1,124 | 1,066 | 1,062 | 1,041 | 942 | |
| Financial services revenue | ✕ | ✕ | ✕ | 884 | ||||
| Cost of revenue | (377) | (131) | (48) | (65) | (250) | (352) | (504) | |
| Policyholder benefits and claims incurred, net | (365) | (119) | ✕ | ✕ | ✕ | ✕ | ||
| Deferred policy acquisition costs, amortization expense | (12) | (12) | (12) | (11) | (10) | (9) | (8) | |
| Financial services costs | ✕ | ✕ | (37) | (54) | (240) | (344) | (496) | |
| Gross profit: | 822 | 1,083 | 1,075 | 1,001 | 813 | 688 | 438 | |
| Operating expenses | (176) | (183) | (178) | (160) | (151) | (156) | (150) | |
| Operating income: | 646 | 901 | 897 | 842 | 662 | 533 | 288 | |
| Nonoperating expense (Investment Income, Nonoperating) | (2) | |||||||
| Interest and debt expense | (86) | (53) | (53) | (57) | (147) | (69) | (70) | |
| Other undisclosed income from continuing operations before equity method investments, income taxes | 24 | 39 | ||||||
| Income from continuing operations before income taxes: | 559 | 848 | 844 | 784 | 515 | 488 | 255 | |
| Income tax expense (benefit) | (113) | (174) | (174) | (429) | (172) | 684 | (3) | |
| Net income available to common stockholders, basic: | 446 | 674 | 670 | 356 | 343 | 1,172 | 252 | |
| Dilutive securities, effect on basic earnings per share | 12 | |||||||
| Other undisclosed net income available to common stockholders, diluted | 17 | 18 | 18 | 18 | 28 | 43 | ||
| Net income available to common stockholders, diluted: | 463 | 692 | 688 | 373 | 371 | 1,215 | 264 | |
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: | 446 | 674 | 670 | 356 | 343 | 1,172 | 252 | |
| Other comprehensive income (loss) | 144 | 197 | (80) | 60 | (22) | (52) | 36 | |
| Comprehensive income: | 590 | 871 | 590 | 416 | 321 | 1,120 | 288 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (18) | 7 | 73 | |||||
| Comprehensive income, net of tax, attributable to parent: | 590 | 871 | 590 | 398 | 328 | 1,192 | 288 | |
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.