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Consolidated Statements of Total Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Net premiums earned     $ 28 $ 25
Net investment income:        
Securities available-for-sale and short-term $ 13 $ 22 27 44
Net investment income (loss) (21) 42 (16) 91
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments     17 1
Realized Investment Gains (Losses) 7 (2) 17 1
Change in fair value of credit derivatives:        
Derivative, Gain (Loss) on Derivative, Net 29 (11) 86 14
Net realized gains (losses) on extinguishment of debt 57 0 57 33
Insurance Commissions and Fees 6 6 15 13
Other Operating Income (Expense), Net 1 1 3 (1)
Income (loss) on variable interest entities (6) 2 15 2
Total revenues 86 49 206 178
Expenses:        
Losses and loss expenses (benefit) (12) (26) 12 (18)
Intangible amortization 13 14 28 33
Operating expenses 34 28 68 62
Interest expense 45 50 89 100
Total expenses 80 66 197 177
Pre-tax income (loss) 6 (18) 9 1
Provision (benefit) for income taxes 1 11 1 13
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest   0 0 0
Net income (loss) 5 (28) 8 (11)
Net income (loss) attributable to common stockholders 5 (29) 7 (12)
Other comprehensive income (loss), after tax:        
Net income (loss) 5 (28) 8 (11)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax (72) 26 (177) 2
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (55) 1 (78) 8
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, after Tax 1 0 1 (1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax 0 0 0 (1)
Total other comprehensive income (loss), net of income tax (126) 27 (254) 8
Total comprehensive income (loss) (121) (2) (246) (3)
Less: comprehensive (gain) loss attributable to the noncontrolling interest        
Total comprehensive income (loss) attributable to common stockholders (121) (2) (247) (3)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest $ 0 $ 0 $ 0 $ 0
Earnings Per Share, Basic $ 0.11 $ (0.63) $ 0.15 $ (0.54)
Earnings Per Share, Diluted $ 0.11 $ (0.63) $ 0.15 $ (0.54)
Weighted Average Number of Shares Outstanding, Basic 45,519,093 46,576,673 46,121,927 46,446,087
Weighted Average Number of Shares Outstanding, Diluted 45,685,349 46,576,673 46,310,687 46,446,087
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, Tax $ 0 $ 0 $ 0 $ 0
Gain (loss) on foreign currency translation, taxes 0 0 0 0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Plan Amendments, Tax Effect 0 0 0 0
Premiums Earned, Net 14 11 28 25
Unrealized (loss) gain on securities, taxes $ (2) $ 1 $ (4) $ (1)