MBIA Inc. Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-177	-447	-491	-195	-445	-578
Gain (Loss) on Sale of Assets	-1	13	29	-11	21	-37
Gain (Loss) on Sale of Investments	6	3	76	41	-5	-48
Change in Accounts Receivable	13	13	14	32	31	29
Change in Unearned Revenue	-30	-33	-34	-56	-83	-77
Change in Insurance Reserves / Liabilities	-81	53	24	-468	-102	86
Change in Other Net Operating Assets	310	168	112	198	1,096	189
Other Operating Activities	9	51	72	-13	-2	36
Operating Cash Flow	51	-176	-195	-418	511	-390
Capital Expenditures	-	-	-	-	-1	-
Cash Acquisitions	-	-	-	2	-	-
Investment in Securities	-33	263	807	613	-71	1,738
Other Investing Activities	-2	18	-47	-	-66	-16
Investing Cash Flow	-29	287	767	623	-61	1,738
Long-Term Debt Issued	-	8	69	10	2	12
Total Debt Repaid	-26	-127	-169	-292	-458	-1,077
Net Debt Issued (Repaid)	-20	-119	-100	-282	-456	-1,065
Repurchases of Common Stock	-7	-4	-38	-3	-1	-200
Other Financing Activities	-	-9	5	-	-	-
Financing Cash Flow	-27	-132	-542	-285	-457	-1,265
Foreign Exchange Rate Adjustments	-	-	-	-2	-	1
Net Cash Flow	-5	-21	30	-82	-7	84
Free Cash Flow	51	-176	-195	-418	510	-390
Free Cash Flow Margin	54.84%	-651.85%	-2785.71%	-557.33%	451.33%	-108.03%
Free Cash Flow Per Share	1.04	-3.71	-4.04	-8.39	10.31	-6.60
Cash Interest Paid	48	53	64	43	61	84
Cash Income Tax Paid	-	-	-	1	-	-13
Levered Free Cash Flow	27	-251	-522.38	1,055	484.63	-315.13
Unlevered Free Cash Flow	149.5	-120.38	-398.63	1,118	586.5	-146.38
Change in Working Capital	212	201	116	-294	942	237

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.