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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net earned premiums $ 112 $ 136 $ 230 $ 281
Net investment income 110 98 208 198
Net realized investment gains (losses) 8 (2) (4) (7)
Net change in fair value of credit derivatives (8) 48 (30) 82
Fair value gains (losses) on financial guaranty variable interest entities 33 2 38 6
Foreign exchange gain (loss) on remeasurement (14) (36) (3) (14)
Other income (loss) 25 (26) 22 (33)
Total revenues 266 220 461 513
Expenses        
Loss and loss adjustment expenses (1) 44 45 26
Amortization of deferred acquisition costs 4 4 10 9
Interest expense 22 24 45 48
Other operating expenses 60 62 124 127
Total expenses 85 134 224 210
Income (loss) before income taxes and equity in net earnings of investees 181 86 237 303
Equity in net earnings of investees 1 1 3 1
Income (loss) before income taxes 182 87 240 304
Provision (benefit) for income taxes 40 12 44 32
Net income (loss) attributable to Assured Guaranty Ltd. $ 142 $ 75 $ 196 $ 272
Earnings per share:        
Basic (in dollars per share) $ 1.40 $ 0.67 $ 1.92 $ 2.39
Diluted (in dollars per share) $ 1.39 $ 0.67 $ 1.90 $ 2.37