XML 144 R128.htm IDEA: XBRL DOCUMENT v3.22.4
Long-Term Debt and Credit Facilities - Narrative (Details)
12 Months Ended
Mar. 14, 2022
USD ($)
Feb. 03, 2022
USD ($)
Sep. 27, 2021
USD ($)
Aug. 20, 2021
USD ($)
Jul. 09, 2021
USD ($)
May 26, 2021
USD ($)
Jun. 20, 2014
USD ($)
Dec. 20, 2006
USD ($)
period
Nov. 22, 2006
USD ($)
rISK
extension
May 18, 2004
USD ($)
Dec. 31, 2022
USD ($)
Trust
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Jul. 31, 2003
Nov. 26, 2002
Debt Instrument [Line Items]                              
Net proceeds from issuance of debt                     $ 0 $ 889,000,000 $ 0    
Repayments of long-term debt                     2,000,000 620,000,000 22,000,000    
Loss on extinguishment of debt                     0 175,000,000 0    
Interest expense                     $ 81,000,000 87,000,000 85,000,000    
AGC Trust Preferred Securities                              
Debt Instrument [Line Items]                              
Basis points                     2.50%        
AGM Trust Preferred Securities                              
Debt Instrument [Line Items]                              
Basis points                     2.00%        
AGUS (Issuer | AGMH                              
Debt Instrument [Line Items]                              
Debt instrument, fair value disclosure                       154,000,000 $ 154,000,000    
AGMH                              
Debt Instrument [Line Items]                              
Repayments of long-term debt         $ 200,000,000                    
AGM and AGC | AGM CPS securities                              
Debt Instrument [Line Items]                              
Number of custodial trusts | Trust                     4        
Maximum stock purchase obligation of each custodial trust                     $ 200,000,000        
Aggregate maximum stock purchase obligation of the custodial trusts                     $ 50,000,000        
AGC | AGM CPS securities                              
Debt Instrument [Line Items]                              
Rate basis for income distributions                     one-month LIBOR        
Assured Guaranty Municipal Corp                              
Debt Instrument [Line Items]                              
Principal                     $ 1,726,000,000 1,728,000,000      
Assured Guaranty Municipal Corp | AGM CPS securities                              
Debt Instrument [Line Items]                              
Rate basis for income distributions                     one-month LIBOR        
AGC                              
Debt Instrument [Line Items]                              
Loss on extinguishment of debt                     $ 175,000,000        
Loss on extinguishment of debt, net of tax                     138,000,000        
Acceleration of unamortized fair value adjustments                     156,000,000        
Junior Subordinated Debt | AGMH                              
Debt Instrument [Line Items]                              
Principal                 $ 300,000,000   146,000,000 146,000,000      
Effective interest rate of debt (as a percent)                 6.40%            
Interest rate, added to base rate (as a percent)                 2.215%            
Number of times interest payment may be deferred                 1            
Number of consecutive periods for which interest payments may be deferred | rISK                 1            
Period for which interest payment may be deferred (in years)                 10 years            
Number of times repayment date may be extended | extension                 4            
Repayment date extension measurement period                 5 years            
Notes Payable, Other Payables | Assured Guaranty Municipal Corp                              
Debt Instrument [Line Items]                              
Principal                     $ 0 2,000,000      
7% Senior Notes | Senior Notes | AGC                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                   700.00% 700.00%        
Principal                   $ 200,000,000 $ 200,000,000 200,000,000      
Net proceeds from issuance of debt                   $ 197,000,000          
Effective interest rate of debt (as a percent)                     6.40%        
5% Senior Notes                              
Debt Instrument [Line Items]                              
Payment for debt extinguishment                     $ 19,000,000        
5% Senior Notes | Senior Notes | AGC                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)             5.00%       5.00%        
Principal     $ 500,000,000       $ 500,000,000       $ 330,000,000 330,000,000      
Net proceeds from issuance of debt             $ 495,000,000                
Repayments of long-term debt     170,000,000                        
3.15% Senior Notes | Senior Notes | AGMH                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)           3.15%                  
3.15% Senior Notes | Senior Notes | AGC                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                     3.15%        
Principal           $ 500,000,000         $ 500,000,000 500,000,000      
Net proceeds from issuance of debt           $ 494,000,000                  
Redemption price percentage           100.00%                  
3.6% Senior Notes | Senior Notes | AGMH                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)       3.60%                      
Repayments of long-term debt     400,000,000                        
3.6% Senior Notes | Senior Notes | AGC                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                     3.60%        
Principal       $ 400,000,000             $ 400,000,000 $ 400,000,000      
Net proceeds from issuance of debt       $ 395,000,000                      
Redemption price percentage       100.00%                      
Enhanced Junior Subordinated Debentures | Junior Subordinated Debt | AGMH                              
Debt Instrument [Line Items]                              
Period prior to final repayment date before which debt cannot be repaid, redeemed, repurchased or defeased (in years)                 20 years            
Enhanced Junior Subordinated Debentures | Junior Subordinated Debt | AGC                              
Debt Instrument [Line Items]                              
Principal               $ 150,000,000              
Interest rate, added to base rate (as a percent)               2.38%              
Number of times interest payment may be deferred               1              
Number of consecutive periods for which interest payments may be deferred | period               1              
Period for which interest payment may be deferred (in years)               10 years              
6.875% QUIBS | Corporate securities | AGMH                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                     6.875%        
Repayments of long-term debt         100,000,000                    
6.25% Notes | Notes Payable, Other Payables | AGMH                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                             6.25%
Principal         230,000,000                    
Repayments of long-term debt     130,000,000   $ 100,000,000                    
5.6% Notes | Corporate securities | AGMH                              
Debt Instrument [Line Items]                              
Repayments of long-term debt     $ 100,000,000                        
5.6% Notes | Notes Payable, Other Payables | AGMH                              
Debt Instrument [Line Items]                              
Interest rate of debt (as a percent)                           5.60%  
Short Term Loan Facility | 6 Months | Letter of Credit                              
Debt Instrument [Line Items]                              
Maximum borrowing capacity   $ 150,000,000                          
Maximum borrowing duration   6 months                          
Short Term Loan Facility | One Month | Letter of Credit                              
Debt Instrument [Line Items]                              
Maximum borrowing capacity   $ 550,000,000                          
Proceeds from issuance of warehouse financing debt $ 400,000,000                            
Short Term Loan Facility | One Month | Letter of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                              
Debt Instrument [Line Items]                              
Interest rate, added to base rate (as a percent)   1.10%                          
Short Term Loan Facility | Thirty Days | Letter of Credit                              
Debt Instrument [Line Items]                              
Maximum borrowing duration   30 days