Mbia inc (MBI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Cash flows from operating activities:
Premiums, fees and reimbursements received

47

86

61

115

95

193

185

281

397

533

-

-

Investment income received

176

205

248

318

353

419

426

594

898

997

-

-

Errors and omissions insurance recoveries received

-

-

-

-

-

30

0

0

-

-

-

-

Insured derivative commutations and losses paid

11

56

52

43

42

432

458

464

2,476

895

-

-

Financial guarantee losses and loss adjustment expenses paid

489

385

768

351

238

240

443

895

1,029

1,545

-

-

Proceeds from recoveries and reinsurance

155

61

170

99

85

131

2,621

263

300

398

-

-

Operating and employee related expenses paid

77

83

130

134

129

238

277

400

312

274

-

-

Interest paid, net of interest converted to principal

180

146

177

148

169

179

224

400

479

574

-

615

Income taxes (paid) received

-11

1

4

5

9

17

1

6

-74

414

-209

433

Net cash provided (used) by operating activities

-368

-319

-652

-149

-54

-333

1,829

-1,027

-2,627

-946

-2,192

-156

Cash flows from investing activities:
Purchases of available-for-sale investments

2,140

2,265

1,811

2,661

2,146

1,494

2,397

3,086

7,744

9,967

10,422

13,547

Increase in payable for investments purchased

-

-

-

-

-

-

-

-

-

-

-

-41

Sales of available-for-sale investments

2,195

2,117

2,256

2,412

1,145

757

1,726

4,658

11,321

11,896

12,677

29,275

Paydowns and maturities of available-for-sale investments

857

329

568

680

800

484

452

609

-

-

-

-

Purchases of investments at fair value

151

189

263

199

390

631

371

346

-

-

-

-

Sales, paydowns, maturities and other proceeds of investments at fair value

617

212

326

260

551

789

595

960

-

-

-

-

Redemptions of held-to-maturity investments

-

-

-

-

-

-

-

-

196

756

750

3,803

Sales, paydowns and maturities (purchases) of short-term investments, net

157

-420

67

125

-525

-515

358

-739

-680

-662

-2,011

-

Sales, paydowns and maturities of held-to-maturity investments

-

-

-

1,799

67

44

28

1,014

-

-

-

-

Purchase of held-to-maturity investments

-

-

-

-

-

-

-

-

-

157

251

1,764

Sales, paydowns and maturities of other investments

-

-

-

-

-

-

0

0

-

-

-

-

PaymentsToAcquireLoansReceivable

-

-

-

-

-

310

0

0

-

-

-

-

Increase in receivable for investments sold

-

-

-

-

-

-

-

-

-

-

-

-33

Paydowns and maturities of loans receivable

74

614

259

261

232

313

280

278

291

860

-

-

Sale (purchase) of other investments, net

-

-

-

-

-

-

-

-

-73

-53

-217

-338

Sale of short-term investments, net

-

-

-

-

-

-

-

-

-

-

-

3

Purchase of non-controlling interest in an affiliate, net of cash received

-

-

-

-

-

-

-

-

-

27

-

-

Consolidation of variable interest entities

72

0

18

9

7

221

0

0

-432

754

-

-

Deconsolidation of variable interest entities

2

7

0

8

0

-18

26

51

-

-

-

-

(Payments) proceeds for derivative settlements

98

24

64

44

-13

26

54

288

373

216

-46

-424

Collateral (to) from counterparties

0

0

4

49

-31

144

122

-285

0

166

-

-

Capital expenditures

0

1

1

1

3

13

3

7

5

5

6

10

Disposal of capital assets

-

-

-

-

-

-

-

-

-

3

-

0

Other investing

0

0

23

8

-47

-1

0

-

-

-

-

-

Net cash provided (used) by investing activities

1,267

1,206

1,202

2,424

817

812

-6

4,195

4,007

4,778

4,976

18,091

Cash flows from financing activities:
Proceeds from investment agreements

15

12

17

19

24

30

31

36

71

45

148

1,653

Principal paydowns of investment agreements

25

37

75

85

116

192

285

688

524

-

-

-

Payments for drawdowns of investment agreements

-

-

-

-

-

-

-

-

-

767

2,047

13,122

Decrease in commercial paper

-

-

-

-

-

-

-

-

-

-

-

-863

Proceeds from medium-term notes

-

-

-

-

-

-

-

-

0

-

176

2,131

Principal paydowns of medium-term notes

57

85

157

120

118

168

197

102

137

507

2,345

8,280

Proceeds from the MBIA Corp. Financing Facility

0

0

328

0

0

79

0

0

-

-

-

-

Principal paydowns of variable interest entity notes

765

598

368

2,234

490

609

1,112

1,229

1,100

1,793

128

138

Principal paydowns of long-term dept

150

0

0

-

-

-

-

-

-

-

-

-

Proceeds From Payments For In Securities Sold Under Agreements To Repurchase

-

-

-

-

-

-

-

-287

-184

-31

-317

-360

Dividends paid

-

-

-

-

-

-

-

-

-

1

10

42

Proceeds from secured loan

-

-

-

-

-

-

-

-

-

-

279

-

Net proceeds from issuance of debt

-

-

-

-

-

-

-

-

105

-

-

983

Gross proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

1,628

Capital issuance costs

-

-

-

-

-

-

-

-

-

-

-

82

Net proceeds from issuance of warrants

-

-

-

-

-

-

-

-

-

-

-

21

Net proceeds from issuance of preferred stock of subsidiary

-

-

-

-

-

-

-

-

-

-

-

387

Repayments Of Long Term Debt

-

-

-

-

11

0

3

540

65

393

55

145

Proceeds from bank loans

-

-

-

-

-

-

-

-

-

-

88

338

Purchases of treasury stock

106

44

330

110

304

32

0

0

50

31

16

220

Payments To Minority Shareholders

-

-

-

-

-

-

-

2

-9

29

11

-

Proceeds From Stock Plans

-

-

-

-

-

-

-

1

-2

2

2

2

Other financing

-8

0

-4

-5

0

0

-

-

-

-

-

1

Collateral from reverse repurchase agreement counterparties

-

-

-

-

-

-

-

-

-

-

30

-30

Collateral (to) from swap counterparty

-

-

-

-

-

-

-

-

-

-

-101

-201

Excess tax benefit on share-based payment

-

-

-

-

-

-

-

-

-

-

-

-2

Net cash provided (used) by financing activities

-1,096

-752

-589

-2,535

-1,015

-892

-1,566

-2,811

-1,877

-3,505

-4,261

-15,919

Effect of exchange rate changes on cash and cash equivalents

0

-1

-2

-2

-8

-8

11

0

0

-

-

-

Net increase (decrease) in cash and cash equivalents

-197

134

-41

-262

-260

-421

268

357

-497

327

-1,477

2,016

Reconciliation of net income (loss) to net cash provided (used) by operating activities:
Net income (loss)

-359

-296

-1,605

-338

180

569

250

1,234

-1,319

53

634

-2,672

Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: [Abstract]
Change in:
Premiums receivable

-62

-60

-49

-75

-50

-138

-176

-152

-209

-259

-349

0

Deferred acquisition costs

-12

-21

-22

-41

-49

-43

-43

-49

-61

-61

-100

88

Accrued investment income

20

8

11

-

-

-

-

-

-

-

-102

-336

Unearned premium revenue

-105

-165

-206

-263

-371

-412

-506

-600

-624

-635

-906

316

Loss and loss adjustment expense reserves

0

-46

778

29

12

-133

216

-17

293

81

-196

-211

Prepaid reinsurance premiums

-

-

-

-

-

-

-

-

-

-

-180

-102

Reinsurance premiums payable

-

-

-

-

-

-

-

-

-

-

-191

-

Decrease in reinsurance premiums payable

-

-

-

-

-

-

-

-

-

-

-

1

Reinsurance recoverable on paid and unpaid losses

-

-

-

-

-

-

-

-

-

-

-115

91

Insurance loss recoverable

99

213

681

74

44

-162

-3,637

602

514

769

1,987

350

Payable to reinsurers on recoveries

-

-

-

-

-

-

-

-

-

-

126

4

Accrued interest payable

106

157

116

102

105

106

106

-3

-11

-

-3

-262

Accounts receivable

-

-

-

-

-

-

-

-

-

-

-41

-

Decrease in accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-26

Accrued expenses

12

-9

-29

7

14

-36

43

-23

16

-

-109

103

Deferred fee revenue

-

-

-

-

-

-

-

-

-

-

-34

29

Investment losses on other than temporarily impaired investments

-

-

-

-

-

-

-

-

-

-

-

958

Increase Decrease In Accrued Income Taxes Payable

-

-

-

-

-

-

-

-

86

501

-292

-98

Amortization of bond (premiums) discounts, net

-

-

-

-

-

-

-

-

-

-

59

21

Depreciation

-

-

-

-

-

-

-

-

-

-

9

9

Amortization of medium-term notes (premiums) discounts, net

-

-

-

-

-

-

-

-

-

-

-16

-13

Net investment losses related to other-than-temporary impairments

67

5

106

5

13

15

0

105

101

64

467

-

Realized Gains Losses And Other Settlements On Insured Derivatives, Total.

-

-

-

-

-

-30

0

0

-

-

-

-

Realized losses and other settlements on insured derivatives

-

-

-

-

-

-

-

-

-

607

-

-

Unrealized (gains) losses on insured derivatives

25

31

0

21

157

903

1,777

1,870

-441

-607

1,650

1,822

Net (gains) losses on financial instruments at fair value and foreign exchange

157

8

106

84

105

128

244

73

-40

430

221

-530

Other net realized (gains) losses

58

171

-59

282

-17

-25

28

-7

-262

47

101

-2

Deferred income tax provision (benefit)

13

0

940

-5

107

50

157

365

-935

-221

1,091

-532

Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment.

-

-

-

-

-

-

61

49

26

60

269

410

Share based compensation

-

-

-

-

-

0

-

-

-

-

6

-30

Interest on variable interest entities, net

-3

17

35

57

71

77

90

140

253

-

-

-

Other operating

-30

-10

23

-38

-39

-114

-103

-138

-150

-265

-28

15

Total adjustments to net income (loss)

-9

-23

953

189

-234

-902

1,579

-2,261

-1,308

-999

-2,826

2,516

Net cash provided (used) by operating activities

-368

-319

-652

-149

-54

-333

1,829

-1,027

-2,627

-946

-2,192

-156

Supplementary Disclosure of Consolidated Cash Flow Information
Non-cash consideration received from the sale of MBIA UK Insurance Limited

0

0

332

0

0

-

-

-

-

-

-

-

Investment agreements

-

-

-

-

-

-

-

-

-

-

133

-

Commercial paper

-

-

-

-

-

-

-

-

-

-

-

15

Medium-term notes

-

-

-

-

-

-

-

-

-

-

96

385

Variable interest entity notes

-

-

-

-

-

-

-

-

-

-

105

55

Securities sold under agreements to repurchase

-

-

-

-

-

-

-

-

-

-

72

38

Long-term debt

-

-

-

-

-

-

-

-

-

-

204

-

Other borrowings and deposits

-

-

-

-

-

-

-

-

-

-

-

8

Corporate debt

-

-

-

-

-

-

-

-

-

-

-

74

Surplus notes

-

-

-

-

-

-

-

-

-

-

-

69

Share-based compensation

-

-

-

-

-

-

-

-

-

-

6

-30

Dividends declared but not paid

-

-

-

-

-

-

-

-

-

-

1

-