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 investments306179152100155181198
Cash and cash equivalents288162152100155181198
Short-term investments1817     
Restricted cash and investments      17
Total current assets:306179152100155181215
Noncurrent Assets
Property, plant and equipment47505245363029
Deferred income tax assets 6
Total noncurrent assets:47565245363029
Other undisclosed assets7,0015,9955,4745,4755,5435,6685,023
TOTAL ASSETS:7,3556,2305,6785,6195,7355,8805,266
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 liabilities2,6561,9202,0962,4653,1862,4204,230
Total liabilities:2,6561,9202,0962,4653,1863,6434,230
Stockholders' equity
Stockholders' equity attributable to parent4,6994,3093,5823,1552,5492,2361,037
Common stock371371371371359340340
Treasury stock, value(393)(283)(175) (150)(3)(33)
Additional paid in capital1,8621,8701,8631,8511,7821,6701,664
Accumulated other comprehensive income (loss)21773(124)(44)(75)(61)(81)
Retained earnings (accumulated deficit)2,6422,2791,647977633290(852)
Total stockholders' equity:4,6994,3093,5823,1552,5492,2361,037
TOTAL LIABILITIES AND EQUITY:7,3556,2305,6785,6195,7355,8805,266

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
Revenues1,1991,2141,1241,0661,0621,041942
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:8221,0831,0751,001813688438
Operating expenses(176)(183)(178)(160)(151)(156)(150)
Operating income:646901897842662533288
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     2439
Income from continuing operations before income taxes:559848844784515488255
Income tax expense (benefit)(113)(174)(174)(429)(172)684(3)
Net income available to common stockholders, basic:4466746703563431,172252
Dilutive securities, effect on basic earnings per share      12
Other undisclosed net income available to common stockholders, diluted171818182843 
Net income available to common stockholders, diluted:4636926883733711,215264

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:4466746703563431,172252
Other comprehensive income (loss)144197(80)60(22)(52)36
Comprehensive income:5908715904163211,120288
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   (18)773 
Comprehensive income, net of tax, attributable to parent:5908715903983281,192288

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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