ASSURED GUARANTY LTD AGO Income Statement

Assured guaranty ltd (AGO)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues
Premiums Earned, Net
103,000	123,000	123,000	112,000	118,000	125,000	142,000	136,000	145,000	178,000	186,000	162,000	164,000	236,000	231,000	214,000	183,000	192,000	213,000	219,000	142,000	158,000	144,000	136,000	132,000	182,000	159,000	163,000	248,000	218,000	222,000	219,000	194,000	224,955	211,000	230,068	253,977	286,563	288,767	297,050	314,620	329,970	78,634
Net Investment Income
80,000	82,000	88,000	110,000	98,000	98,000	99,000	98,000	100,000	96,000	99,000	101,000	122,000	117,000	94,000	98,000	99,000	112,000	112,000	98,000	101,000	102,000	102,000	96,000	103,000	107,000	99,000	93,000	94,000	103,000	102,000	101,000	98,000	100,997	95,000	102,591	97,412	100,212	85,615	90,871	84,302	84,742	43,300
Asset management fees
23,000	22,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net realized investment gains (losses):
Other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,000	8,000	20,000	13,000	18,000	11,000	5,000	29,000	17,000	27,000	3,000	12,000	8,000	7,000	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	16,000	1,000	-	4,000	9,000	28,000	17,235	33,000	26,818	6,947	19,752	5,719	17,412	1,117	13,321	36,466
Less: portion of other-than-temporary impairment loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	-3,000	-4,000	-3,000	0	1,000	2,000	8,000	4,000	-15,000	2,000	10,000	5,000	-9,000	4,000	-11,000	0	-7,000	-23,000	-4,391	-17,000	-15,240	-2,369	-15,150	-1,189	0	-661	-5,287	-21,633
Net impairment loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,000	5,000	16,000	10,000	18,000	12,000	7,000	37,000	21,000	12,000	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other net realized investment gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,000	15,000	3,000	4,000	-9,000	3,000	23,000	2,000	2,000	4,000	7,000	51,000	1,000	9,000	33,000	7,000	6,000	-1,000	6,000	8,128	5,000	6,488	7,384	4,001	2,156	8,974	9,869	1,937	9,945
Realized Investment Gains (Losses)
-5,000	10,000	16,000	8,000	-12,000	-18,000	-7,000	-2,000	-5,000	-14,000	7,000	15,000	32,000	-24,000	-2,000	10,000	-13,000	-6,000	-27,000	-9,000	16,000	-35,000	-19,000	-8,000	2,000	29,000	-7,000	2,000	28,000	1,000	2,000	-3,000	1,000	-4,716	-11,000	-5,090	2,806	-601	-2,374	-8,438	9,413	-6,097	-4,888
Net change in fair value of credit derivatives:
Realized gains (losses) and other settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,000	24,000	8,000	-53,000	6,000	8,000	21,000	3,000	-14,000	15,000	19,000	2,000	24,000	-86,000	18,000	-30,000	2,000	-23,000	-57,000	-18,591	0	-10,836	35,427	35,446	52,498	38,353	26,703	71,691	27,816
Net unrealized gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,000	39,000	-68,000	481,000	80,000	82,000	103,000	673,000	269,000	88,000	-230,000	227,000	330,000	160,000	-610,000	-89,000	-38,000	284,000	-634,000	-276,305	1,156,000	-54,059	-271,636	-165,786	-276,427	35,115	252,098	-205,336	-254,284
Net change in fair value of credit derivatives
-77,000	19,000	5,000	-8,000	-22,000	9,000	21,000	48,000	34,000	5,000	58,000	-6,000	54,000	74,000	21,000	63,000	-60,000	428,000	86,000	90,000	124,000	676,000	255,000	103,000	-211,000	229,000	354,000	74,000	-592,000	-119,000	-36,000	261,000	-691,000	-294,896	1,156,000	-64,895	-236,209	-130,340	-223,929	73,468	278,801	-133,645	-226,468
Fair Value, Gain (Loss) On Committed Capital Securities
48,000	-	-	-	-9,000	-	-	-	-	-	-	-	-	-	-23,000	-11,000	-16,000	17,000	-15,000	23,000	2,000	0	4,000	-6,000	-9,000	14,000	9,000	-3,000	-10,000	-6,000	-2,000	4,000	-14,000	31,905	2,000	569	526	3,230	-5,548	12,593	-1,275	-53,057	-60,570
Variable Interest Entity, Change in Fair Value
-9,000	0	4,000	33,000	5,000	-	5,000	-	-	-	-	-	-	27,000	-11,000	4,000	18,000	38,000	2,000	5,000	-7,000	23,000	50,000	25,000	157,000	93,000	40,000	143,000	70,000	30,000	34,000	168,000	-41,000	7,685	-99,000	-174,286	119,601	-408,953	171,258	-27,392	-8,913	-	-
Fair value gains (losses) on consolidated investment vehicles
-12,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign exchange gains (losses) on remeasurement
-62,000	48,000	-21,000	-14,000	11,000	-15,000	-9,000	-36,000	22,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-9,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bargain Purchase Gain And Settlement of Pre-existing Relationship
-	-	-	-	-	-	-	-	-	0	0	0	58,000	0	259,000	0	0	-	0	214,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) From Commutations
-	0	0	1,000	-	0	-	-18,000	1,000	0	255,000	0	73,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial guaranty variable interest entities' revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,881	-
Other income (loss)
7,000	-8,000	-9,000	24,000	6,000	11,000	1,000	-8,000	-8,000	11,000	15,000	24,000	14,000	-18,000	-3,000	18,000	34,000	-6,000	-3,000	55,000	-9,000	-3,000	-11,000	7,000	21,000	-5,000	16,000	-7,000	-14,000	-4,000	16,000	5,000	91,000	-1,137	-9,000	27,337	40,800	26,643	33,682	-13,396	-12,929	57,005	492
Revenues
96,000	296,000	206,000	266,000	195,000	-	275,000	-	-	-	-	-	-	470,000	566,000	396,000	245,000	775,000	368,000	695,000	369,000	921,000	525,000	353,000	195,000	649,000	670,000	465,000	-176,000	223,000	338,000	755,000	-362,000	64,793	1,345,000	116,294	278,913	-123,246	347,471	424,756	664,019	283,799	-169,500
Expenses
Policyholder Benefits and Claims Incurred, Net
20,000	18,000	30,000	-1,000	46,000	21,000	17,000	44,000	-18,000	34,000	223,000	72,000	59,000	112,000	-9,000	102,000	90,000	106,000	112,000	188,000	18,000	72,000	-44,000	57,000	41,000	85,000	55,000	62,000	-48,000	58,000	86,000	118,000	242,000	134,667	215,000	123,913	-25,580	104,606	110,772	85,770	110,852	133,325	38,030
Assured Guaranty Municipal Holdings Inc. acquisition-related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	228	0	2,751	4,021	51,333	24,225
Interest expense
22,000	22,000	22,000	22,000	23,000	23,000	23,000	24,000	24,000	24,000	24,000	25,000	24,000	25,000	26,000	25,000	26,000	25,000	25,000	26,000	25,000	25,000	27,000	20,000	20,000	19,000	21,000	21,000	21,000	21,000	21,000	25,000	25,000	24,544	25,000	24,696	24,760	25,149	24,886	24,831	25,134	25,190	6,484
Amortization of deferred acquisition costs
3,000	5,000	3,000	4,000	6,000	4,000	3,000	4,000	5,000	6,000	5,000	4,000	4,000	5,000	4,000	5,000	4,000	5,000	5,000	6,000	4,000	13,000	4,000	3,000	5,000	4,000	4,000	1,000	3,000	0	4,000	5,000	5,000	3,528	4,000	5,810	3,662	-1,132	8,023	6,936	8,173	1,308	16,548
Employee compensation and benefit expenses
64,000	-	-	-	41,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill and settlement of pre-existing relationship
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,341	-
Financial guaranty variable interest entities' expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,152	-
Other operating expenses
45,000	54,000	27,000	21,000	23,000	25,000	56,000	26,000	25,000	61,000	58,000	57,000	68,000	57,000	65,000	63,000	60,000	55,000	54,000	66,000	56,000	55,000	50,000	55,000	60,000	52,000	54,000	52,000	60,000	49,000	48,000	53,000	62,000	49,868	46,000	53,249	62,883	75,821	52,139	47,507	62,533	67,236	26,533
Benefits, Losses and Expenses
154,000	159,000	120,000	85,000	139,000	-	99,000	-	-	-	-	-	-	199,000	86,000	195,000	180,000	191,000	196,000	286,000	103,000	165,000	37,000	135,000	126,000	160,000	134,000	136,000	36,000	128,000	159,000	201,000	334,000	212,607	290,000	207,668	65,725	204,672	195,820	167,795	210,713	311,885	111,820
Income (loss) before income taxes and equity in net earnings of investees
-58,000	137,000	86,000	181,000	56,000	100,000	176,000	86,000	217,000	156,000	313,000	150,000	372,000	271,000	480,000	201,000	65,000	584,000	172,000	409,000	266,000	756,000	488,000	218,000	69,000	489,000	536,000	329,000	-212,000	95,000	179,000	554,000	-696,000	-147,814	1,055,000	-91,374	213,188	-327,918	151,651	256,961	453,306	-28,086	-281,320
Equity in net earnings of investees
-4,000	-	-	-	2,000	-	32,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net earnings of investees
-	1,000	0	1,000	-	1,000	-1,000	1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
-62,000	138,000	86,000	182,000	58,000	101,000	175,000	87,000	217,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision (benefit) for income taxes
Current
-	-	-	-	-	-	-	-	-	-	-	-	-	37,000	18,000	32,000	30,000	-3,000	41,000	24,000	13,000	21,000	36,000	18,000	21,000	32,000	67,000	3,000	55,000	66,000	-9,000	-29,000	29,000	73,735	-13,000	9,864	-197,599	160,998	-191,867	44,822	-38,953	67,116	-9,874
Deferred Income Tax Expense (Benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	37,000	-17,000	23,000	-24,000	158,000	2,000	88,000	52,000	203,000	97,000	41,000	6,000	108,000	85,000	107,000	-123,000	-45,000	46,000	206,000	-242,000	-137,398	307,000	-58,133	271,531	-295,722	178,919	33,004	158,799	-54,901	-101,442
Income Tax Expense (Benefit)
-4,000	2,000	17,000	40,000	4,000	13,000	14,000	12,000	20,000	104,000	105,000	-3,000	55,000	74,000	1,000	55,000	6,000	155,000	43,000	112,000	65,000	224,000	133,000	59,000	27,000	140,000	152,000	110,000	-68,000	21,000	37,000	177,000	-213,000	-63,663	294,000	-48,269	73,932	-134,724	-12,948	77,826	119,846	12,215	-111,316
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-58,000	136,000	69,000	142,000	54,000	88,000	-	75,000	197,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	179,135	333,460	-40,301	-170,004
Less: Noncontrolling interests
-3,000	-1,000	0	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,271	-
Net Income (Loss) Attributable to Parent
-55,000	137,000	69,000	142,000	54,000	88,000	161,000	75,000	197,000	52,000	208,000	153,000	317,000	197,000	479,000	146,000	59,000	429,000	129,000	297,000	201,000	532,000	355,000	159,000	42,000	349,000	384,000	219,000	-144,000	74,000	142,000	377,000	-483,000	-84,151	761,000	-43,105	139,256	-	164,599	-	-	-35,030	-170,004
Earnings Per Share [Abstract]
Earnings Per Share, Basic
-0.59	1.43	0.71	1.40	0.52	0.84	1.48	0.67	1.71	0.44	1.75	1.26	2.53	1.46	3.63	1.09	0.43	2.98	0.88	1.97	1.29	3.08	2.10	0.89	0.23	1.79	2.10	1.17	-0.74	0.48	0.73	2.02	-2.65	-0.47	4.15	-0.23	0.76	-1.04	0.89	0.97	1.81	-0.22	-1.82
Earnings Per Share, Diluted
-0.59	1.42	0.70	1.39	0.52	0.83	1.47	0.67	1.68	0.44	1.72	1.24	2.49	1.44	3.60	1.09	0.43	2.96	0.88	1.96	1.28	3.05	2.09	0.89	0.23	1.79	2.09	1.16	-0.74	0.48	0.73	2.01	-2.65	-0.48	4.13	-0.23	0.74	-1.02	0.88	0.95	1.75	-0.22	-1.82
Dividends (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.13	0.13	0.13	0.12	0.12	0.12	0.12	0.11	0.11	0.11	0.11	0.10	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04