MGIC Investment Corporation (MTG) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments301306179152100155181
Cash and cash equivalents285288162152100155181
Short-term investments161817    
Total current assets:301306179152100155181
Noncurrent Assets
Property, plant and equipment46475052453630
Deferred income tax assets  6
Total noncurrent assets:46475652453630
Other undisclosed assets6,9797,0015,9955,4745,4755,5435,668
TOTAL ASSETS:7,3257,3556,2305,6785,6195,7355,880
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 liabilities2,4642,6561,9202,0962,4653,1862,420
Total liabilities:2,4642,6561,9202,0962,4653,1863,643
Stockholders' equity
Stockholders' equity attributable to parent4,8614,6994,3093,5823,1552,5492,236
Common stock371371371371371359340
Treasury stock, value(675)(393)(283)(175) (150)(3)
Additional paid in capital1,7951,8621,8701,8631,8511,7821,670
Accumulated other comprehensive income (loss)12021773(124)(44)(75)(61)
Retained earnings3,2512,6422,2791,647977633290
Total stockholders' equity:4,8614,6994,3093,5823,1552,5492,236
TOTAL LIABILITIES AND EQUITY:7,3257,3556,2305,6785,6195,7355,880

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,1861,1991,2141,1241,0661,0621,041
Premiums earned, net1,014   
Cost of revenue(77)(377)(131)(48)(65)(250)(352)
Policyholder benefits and claims incurred, net(65)(365)(119) 
Deferred policy acquisition costs, amortization expense(13)(12)(12)(12)(11)(10)(9)
Financial services costs(37)(54)(240)(344)
Gross profit:1,1088221,0831,0751,001813688
Operating expenses(198)(176)(183)(178)(160)(151)(156)
Operating income:910646901897842662533
Interest and debt expense(108)(86)(53)(53)(57)(147)(69)
Other undisclosed income from continuing operations before equity method investments, income taxes      24
Income from continuing operations before income taxes:802559848844784515488
Income tax expense (benefit)(167)(113)(174)(174)(429)(172)684
Net income available to common stockholders, basic:6354466746703563431,172
Other undisclosed net income available to common stockholders, diluted14171818182843
Net income available to common stockholders, diluted:6494636926883733711,215

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:6354466746703563431,172
Other comprehensive income (loss)(97)144197(80)60(22)(52)
Comprehensive income:5385908715904163211,120
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    (18)773
Comprehensive income, net of tax, attributable to parent:5385908715903983281,192

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.

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