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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Maturities of Long-term Debt [Table Text Block]

Aggregated annual maturities of non-VIE long-term debt obligations (based on scheduled maturity dates as further discussed below) are as follows:


2021	$	531	(1)
2022	—
2023	1,641
2024	—
2025	—
Thereafter	712		(2)
Total	$	2,884

Schedule of Long-term Debt Instruments

Long-term debt outstanding, excluding VIE long-term debt, was as follows:


December 31,	2020						2019
	Par Value		Unamortized Discount		Carrying Value		Par Value		Unamortized Discount		Carrying Value
Ambac Assurance:
5.1% surplus notes	$	531	$	—	$	531	$	531	$	(14)	$	517
5.1% junior surplus notes	365		(118)		247		365		(113)		252
Ambac note	1,641		—		1,641		1,763		—		1,763
Tier 2 notes	306		—		306		281		(4)		278
Ambac UK debt	41		(27)		14		41		(28)		13
Long-term debt	$	2,884	$	(145)	$	2,739	$	2,980	$	(159)	$	2,822

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details