MBIA Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-364	-885	-971	-	-
Other Adjustments	9	58	94	-	-
Changes in Receivables	12	13	14	-	-
Changes in Reinsurance Contract Assets	142	-2	151	-	-
Changes in Accrued Expenses	-4	6	3	-	-
Changes in Unearned Premiums	-27	-33	-34	-	-
Changes in Claims Reserves	-72	53	24	-	-
Changes in Other Operating Activities	46	-177	-119	-408	511
Operating Cash Flow	38	-176	-195	-418	511
Capital Expenditures	-	-	-	-	-1
Purchases of Investments	-473	-324	-443	-1,157	-1,369
Proceeds from Sale of Investments	498	593	1,259	1,778	1,375
Other Investing Activities	-	3	-49	2	-68
Investing Cash Flow	25	287	767	623	-61
Long-Term Debt Issued	-	15	62	10	2
Long-Term Debt Repaid	-206	-71	-220	-292	-458
Net Long-Term Debt Issued (Repaid)	-206	-56	-158	-282	-456
Repurchase of Common Stock	-	-38	-9	-3	-1
Net Common Stock Issued (Repurchased)	-	-38	-9	-3	-1
Common Dividends Paid	-	-	-409	-409	-
Other Financing Activities	-	5	-	5	-
Financing Cash Flow	-206	-79	-542	-285	-457
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-	-	-7
Net Cash Flow	-16	-21	30	-82	-14
Free Cash Flow	38	-176	-195	-418	510
FCF Margin	47.50%	-419.05%	-2785.71%	-271.43%	269.84%
Free Cash Flow Per Share	0.77	-3.71	-4.05	-8.39	10.31
Levered Free Cash Flow	-226	-709	-648	-885	-391
Unlevered Free Cash Flow	173	-438	-272	-376	246

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.