OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income (Loss), Tax [Abstract]

Schedule of Components of Comprehensive Income (Loss)

The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:

	Years Ended December 31,
	2023						2022						2021
(Dollars in millions)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
URA(D) on securities - non-credit related	$	843	$	(101)	$	743	$	(2,332)	$	295	$	(2,037)	$	(548)	$	59	$	(488)
Reclassification of net realized losses (gains) included in net income (loss)	285		(41)		244		107		(18)		89		5		(2)		4
Foreign currency translation adjustments	64		(5)		59		(82)		5		(77)		(64)		2		(62)
Benefit plan actuarial net gain (loss)	19		(4)		15		18		(4)		15		22		(5)		17
Reclassification of benefit plan liability amortization included in net income (loss)	2		—		2		3		(1)		2		8		(2)		6
Total other comprehensive income (loss)	$	1,214	$	(151)	$	1,063	$	(2,285)	$	277	$	(2,008)	$	(577)	$	54	$	(523)

Schedule of Amount Reclassified from Accumulated Other Comprehensive Income

The following table presents details of the amounts reclassified from AOCI for the periods indicated:

	Years Ended December 31,				Affected line item within the statements of operations and comprehensive income (loss)
AOCI component	2023		2022
(Dollars in millions)
URA(D) on securities	$	285	$	107	Other net realized capital gains (losses)
	(41)		(18)		Income tax expense (benefit)
	$	244	$	89	Net income (loss)
Benefit plan net gain (loss)	$	2	$	3	Other underwriting expenses
	—		(1)		Income tax expense (benefit)
	$	2	$	2	Net income (loss)

Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Tax

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	Years Ended December 31,
(Dollars in millions)	2023		2022
Beginning balance of URA(D) on securities	$	(1,709)	$	239
Current period change in URA(D) of investments - non-credit related	986		(1,948)
Ending balance of URA(D) on securities	(723)		(1,709)
Beginning balance of foreign currency translation adjustments	(254)		(177)
Current period change in foreign currency translation adjustments	59		(77)
Ending balance of foreign currency translation adjustments	(195)		(254)
Beginning balance of benefit plan net gain (loss)	(33)		(50)
Current period change in benefit plan net gain (loss)	17		17
Ending balance of benefit plan net gain (loss)	(16)		(33)
Ending balance of accumulated other comprehensive income (loss)	$	(934)	$	(1,996)

(Some amounts may not reconcile due to rounding.)