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10-Q Filing

MGIC INVESTMENT CORP CIK: 876437 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000876437-18-000026
Period End Date 20180331
Filing Date 20180508
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance mtg-20180331.xml
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $4.95B USD Point-in-time
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $4.97B USD Point-in-time
Equity securities, cost EquitySecuritiesFvNiCost $4.14M USD Point-in-time
Fixed income, available for sale, at fair value (amortized cost, 2018 - $4,974,616; 2017 - $4,946,278) AvailableForSaleSecuritiesDebtSecurities $4.98B USD Point-in-time
Equity securities, cost AvailableForSaleEquitySecuritiesAmortizedCostBasis $7.22M USD Point-in-time
Fixed income, available for sale, at fair value (amortized cost, 2018 - $4,974,616; 2017 - $4,946,278) AvailableForSaleSecuritiesDebtSecurities $4.93B USD Point-in-time
Equity securities, at fair value (cost, 2018 - $4,143; 2017 - $7,223) EquitySecuritiesFvNi $4.10M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 1.00B shares Point-in-time
Equity securities, at fair value (cost, 2018 - $4,143; 2017 - $7,223) AvailableForSaleSecuritiesEquitySecurities $7.25M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 1.00B shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 370.57M shares Point-in-time
Other invested assets, at cost OtherInvestments $3.10M USD Point-in-time
Other invested assets, at cost OtherInvestments - USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 371.35M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 371.35M shares Point-in-time
Total investment portfolio Investments $4.94B USD Point-in-time
Total investment portfolio Investments $4.99B USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 370.57M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $427.07M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $177.49M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $155.41M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $99.85M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $46.06M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $45.12M USD Point-in-time
Reinsurance recoverable on loss reserves ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments $45.47M USD Point-in-time
Reinsurance recoverable on loss reserves ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments $48.47M USD Point-in-time
Reinsurance recoverable on loss reserves ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments $46.66M USD Point-in-time
Reinsurance recoverable on loss reserves ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments $50.49M USD Point-in-time
Reinsurance recoverable on paid losses ReinsuranceRecoverablesOnPaidLosses $3.72M USD Point-in-time
Reinsurance recoverable on paid losses ReinsuranceRecoverablesOnPaidLosses $3.87M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $52.70M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $54.05M USD Point-in-time
Home office and equipment, net PropertyPlantAndEquipmentNet $48.38M USD Point-in-time
Home office and equipment, net PropertyPlantAndEquipmentNet $44.94M USD Point-in-time
Deferred insurance policy acquisition costs DeferredPolicyAcquisitionCosts $18.84M USD Point-in-time
Deferred insurance policy acquisition costs DeferredPolicyAcquisitionCosts $18.93M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $211.99M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $234.38M USD Point-in-time
Other assets OtherAssets $78.48M USD Point-in-time
Other assets OtherAssets $75.27M USD Point-in-time
Total assets Assets $5.62B USD Point-in-time
Total assets Assets $5.62B USD Point-in-time
Loss reserves LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability $985.63M USD Point-in-time
Loss reserves LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability $924.17M USD Point-in-time
Unearned premiums UnearnedPremiums $392.93M USD Point-in-time
Unearned premiums UnearnedPremiums $397.69M USD Point-in-time
Federal Home Loan Bank advance FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch $155.00M USD Point-in-time
Federal Home Loan Bank advance FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch $155.00M USD Point-in-time
Senior notes SeniorNotes $418.56M USD Point-in-time
Senior notes SeniorNotes $418.85M USD Point-in-time
Convertible junior subordinated debentures ConvertibleSubordinatedDebt $256.87M USD Point-in-time
Convertible junior subordinated debentures ConvertibleSubordinatedDebt $256.87M USD Point-in-time
Other liabilities OtherLiabilities $232.36M USD Point-in-time
Other liabilities OtherLiabilities $255.97M USD Point-in-time
Total liabilities Liabilities $2.46B USD Point-in-time
Total liabilities Liabilities $2.38B USD Point-in-time
Contingencies CommitmentsAndContingencies - USD Point-in-time
Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2018 - 371,348; 2017 - 370,567; shares outstanding 2018 - 371,348; 2017 - 370,567) CommonStockValue $370.57M USD Point-in-time
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2018 - 371,348; 2017 - 370,567; shares outstanding 2018 - 371,348; 2017 - 370,567) CommonStockValue $371.35M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $1.85B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $1.85B USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-43.78M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-107.76M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $977.16M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.12B USD Point-in-time
Total shareholders equity StockholdersEquity $3.15B USD Point-in-time
Total shareholders equity StockholdersEquity $3.23B USD Point-in-time
Total shareholders equity StockholdersEquity $2.65B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.62B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.62B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Direct DirectPremiumsWritten $270.03M USD 1 Quarter
Direct DirectPremiumsWritten $265.82M USD 1 Quarter
Assumed AssumedPremiumsWritten $1.29M USD 1 Quarter
Assumed AssumedPremiumsWritten $92.00K USD 1 Quarter
Ceded CededPremiumsWritten $30.41M USD 1 Quarter
Ceded CededPremiumsWritten $33.22M USD 1 Quarter
Net premiums written PremiumsWrittenNet $236.70M USD 1 Quarter
Net premiums written PremiumsWrittenNet $236.91M USD 1 Quarter
Increase in unearned premiums, net IncreaseDecreaseInUnearnedPremiumsNet $-7.60M USD 1 Quarter
Increase in unearned premiums, net IncreaseDecreaseInUnearnedPremiumsNet $-4.80M USD 1 Quarter
Net premiums earned PremiumsEarnedNetPropertyAndCasualty $232.11M USD 1 Quarter
Net premiums earned PremiumsEarnedNetPropertyAndCasualty $229.10M USD 1 Quarter
Investment income, net of expenses NetInvestmentIncome $32.12M USD 1 Quarter
Investment income, net of expenses NetInvestmentIncome $29.48M USD 1 Quarter
Net realized investment losses GainLossOnInvestments $-329.00K USD 1 Quarter
Net realized investment losses GainLossOnInvestments $-125.00K USD 1 Quarter
Other revenue OtherIncome $1.87M USD 1 Quarter
Other revenue OtherIncome $2.42M USD 1 Quarter
Total revenues Revenues $265.77M USD 1 Quarter
Total revenues Revenues $260.88M USD 1 Quarter
Losses incurred, net IncurredClaimsPropertyCasualtyAndLiability $23.85M USD 1 Quarter
Losses incurred, net IncurredClaimsPropertyCasualtyAndLiability $27.62M USD 1 Quarter
Amortization of deferred policy acquisition costs DeferredPolicyAcquisitionCostAmortizationExpense $2.57M USD 1 Quarter
Amortization of deferred policy acquisition costs DeferredPolicyAcquisitionCostAmortizationExpense $2.23M USD 1 Quarter
Other underwriting and operating expenses, net OtherUnderwritingExpense $40.77M USD 1 Quarter
Other underwriting and operating expenses, net OtherUnderwritingExpense $46.09M USD 1 Quarter
Interest expense InterestExpenseDebt $16.31M USD 1 Quarter
Interest expense InterestExpenseDebt $13.23M USD 1 Quarter
Total losses and expenses BenefitsLossesAndExpenses $86.92M USD 1 Quarter
Total losses and expenses BenefitsLossesAndExpenses $85.75M USD 1 Quarter
Income before tax IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $173.96M USD 1 Quarter
Income before tax IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $180.03M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $84.16M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $36.39M USD 1 Quarter
Net income NetIncomeLoss $143.64M USD 1 Quarter
Net income NetIncomeLoss $89.80M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.39 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.26 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.38 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.24 USD 1 Quarter
Weighted average common shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 341.01M shares 1 Quarter
Weighted average common shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 370.91M shares 1 Quarter
Weighted average common shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 402.18M shares 1 Quarter
Weighted average common shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 391.56M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $143.64M USD 1 Quarter
Net income NetIncomeLoss $89.80M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $15.83M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $17.08M USD 1 Quarter
Deferred tax expense DeferredIncomeTaxExpenseBenefit $48.93M USD 1 Quarter
Deferred tax expense DeferredIncomeTaxExpenseBenefit $39.39M USD 1 Quarter
Net realized investment losses GainLossOnSaleOfSecuritiesNet $-125.00K USD 1 Quarter
Net realized investment losses GainLossOnSaleOfSecuritiesNet $-329.00K USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $-287.00K USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $-937.00K USD 1 Quarter
Reinsurance recoverable on loss reserves IncreaseDecreaseInReinsuranceRecoverable $-3.83M USD 1 Quarter
Reinsurance recoverable on loss reserves IncreaseDecreaseInReinsuranceRecoverable $-3.00M USD 1 Quarter
Reinsurance recoverable on paid losses IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses $154.00K USD 1 Quarter
Reinsurance recoverable on paid losses IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses $-165.00K USD 1 Quarter
Premium receivable IncreaseDecreaseInPremiumsReceivable $-485.00K USD 1 Quarter
Premium receivable IncreaseDecreaseInPremiumsReceivable $-1.34M USD 1 Quarter
Deferred insurance policy acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $87.00K USD 1 Quarter
Deferred insurance policy acquisition costs IncreaseDecreaseInDeferredPolicyAcquisitionCosts $477.00K USD 1 Quarter
Profit commission receivable IncreaseDecreaseInProfitCommissionReceivable $3.40M USD 1 Quarter
Profit commission receivable IncreaseDecreaseInProfitCommissionReceivable $-377.00K USD 1 Quarter
Loss reserves IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $-61.46M USD 1 Quarter
Loss reserves IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $-103.77M USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiums $7.58M USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiums $4.75M USD 1 Quarter
Return premium accrual IncreaseDecreaseInOtherInsuranceLiabilities $-4.80M USD 1 Quarter
Return premium accrual IncreaseDecreaseInOtherInsuranceLiabilities $-5.50M USD 1 Quarter
Income taxes payable - current IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $-3.12M USD 1 Quarter
Income taxes payable - current IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $34.65M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $5.62M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $12.70M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $77.47M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $133.97M USD 1 Quarter
Fixed income securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $187.08M USD 1 Quarter
Fixed income securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $209.48M USD 1 Quarter
Equity securities PaymentsToAcquireAvailableForSaleSecuritiesEquity $19.00K USD 1 Quarter
Equity securities PaymentsToAcquireAvailableForSaleSecuritiesEquity $20.00K USD 1 Quarter
Proceeds from sales of fixed income securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $33.98M USD 1 Quarter
Proceeds from sales of fixed income securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $10.84M USD 1 Quarter
Proceeds from maturity of fixed income securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $199.23M USD 1 Quarter
Proceeds from maturity of fixed income securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $155.60M USD 1 Quarter
Net increase in payable for securities IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet - USD 1 Quarter
Net increase in payable for securities IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet $-10.34M USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.01M USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.21M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-48.26M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $52.44M USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit $150.00M USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts $1.52M USD 1 Quarter
Payment of withholding taxes related to share-based compensation net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $8.07M USD 1 Quarter
Payment of withholding taxes related to share-based compensation net share settlement PaymentsRelatedToTaxWithholdingForShareBasedCompensation $6.72M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $141.75M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-8.07M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $77.64M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $271.66M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $427.07M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $177.49M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $155.41M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $99.85M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $427.07M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $177.49M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $155.41M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $99.85M USD Point-in-time
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquity $3.15B USD Point-in-time
Balance, beginning of period StockholdersEquity $3.23B USD Point-in-time
Balance, beginning of period StockholdersEquity $2.65B USD Point-in-time
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-63.96M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $12.00M USD 1 Quarter
Net income NetIncomeLoss $143.64M USD 1 Quarter
Net income NetIncomeLoss $89.80M USD 1 Quarter
Balance, end of period StockholdersEquity $3.15B USD Point-in-time
Balance, end of period StockholdersEquity $3.23B USD Point-in-time
Balance, end of period StockholdersEquity $2.65B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $143.64M USD 1 Quarter
Net income NetIncomeLoss $89.80M USD 1 Quarter
Change in unrealized investment gains and losses OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $-64.45M USD 1 Quarter
Change in unrealized investment gains and losses OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $12.12M USD 1 Quarter
Benefit plan adjustments OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $153.00K USD 1 Quarter
Benefit plan adjustments OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-494.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $31.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent - USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-63.96M USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $12.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $101.80M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $79.68M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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