XML 18 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net earned premiums $ 97 $ 95 $ 300 $ 261
Net investment income 82 100 247 270
Asset management fees 0 0 0 53
Net realized investment gains (losses) 0 (9) 2 (20)
Fair value gains (losses) on credit derivatives 3 9 19 115
Fair value gains (losses) on committed capital securities (3) (20) (12) (35)
Fair value gains (losses) on financial guaranty variable interest entities (7) 6 (11) (2)
Fair value gains (losses) on consolidated investment vehicles 21 (4) 54 60
Foreign exchange gains (losses) on remeasurement 55 (39) 43 9
Fair value gains (losses) on trading securities 9 4 52 42
Gain on sale of asset management subsidiaries 0 255 0 255
Other income (loss) 12 6 22 38
Total revenues 269 403 716 1,046
Expenses        
Loss and loss adjustment expenses (benefit) (51) 100 (54) 159
Interest expense 22 24 68 67
Amortization of deferred acquisition costs 5 4 14 10
Employee compensation and benefit expenses 47 47 153 199
Other operating expenses 44 44 124 170
Total expenses 67 219 305 605
Income (loss) before income taxes and equity in earnings (losses) of investees 202 184 411 441
Equity in Earnings (Losses) of Investees 18 18 47 25
Income (loss) before income taxes 220 202 458 466
Less: Provision (benefit) for income taxes 44 43 88 84
Net income (loss) 176 159 370 382
Less: Noncontrolling interests 5 2 12 19
Net income (loss) attributable to Assured Guaranty Ltd. $ 171 $ 157 $ 358 $ 363
Earnings per share:        
Basic (in dollars per share) $ 3.23 $ 2.65 $ 6.57 $ 6.11
Diluted (in dollars per share) $ 3.17 $ 2.60 $ 6.44 $ 5.99