Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Long-term Debt, Unclassified [Abstract]

Schedule of Long-Term Debt

Long-term debt is summarized as follows:

	December 31,
(In millions)	2020		2019
Subordinated notes	$	619	$	572
Senior notes	713		1,147
Finance lease obligations	4		4
Total	$	1,336	$	1,723

Schedule of Subordinated Notes

Subordinated notes we issued consist of the following at December 31, 2020:

(Dollar amounts in millions)	Subordinated notes
Coupon rate	Balance		Par amount		Maturity
6.95%	$	87	$	88	September 2028
3.25%	532		500		October 2029
Total	$	619	$	588

Schedule of Senior Notes

Senior notes we issued consist of the following at December 31, 2020:

(Dollar amounts in millions)	Senior notes
Coupon rate	Balance		Par amount		Maturity
4.50%	$	132	$	132	June 2023
3.50%	285		281		August 2021
3.35%	296		290		March 2022
Total	$	713	$	703

Schedule of Maturities of Long-term Debt

Maturities of long-term debt are as follows for the years succeeding December 31, 2020:

(In millions)
2021	$	282
2022	289
2023	132
2024	—
2025	—
Thereafter	585
Total	$	1,288