Employee Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Benefit Obligation Activity Using An Actuarial Measurement Date For Qualified Plan And SERP

Benefit obligation activity using an actuarial measurement date for our qualified pension plan and SERP at December 31 follows:

(Dollars in millions)	At December 31,
	2018			2017
Change in projected benefit obligation:
Benefit obligation, January 1	$	351		$	340
Service cost	11			11
Interest cost	13			14
Actuarial (gain) loss	(19		)	20
Benefits paid	(38		)	(34		)
Projected benefit obligation, December 31	$	318		$	351
Change in plan assets:
Fair value of plan assets, January 1	$	345		$	315
Actual return on plan assets	(4		)	52
Employer contribution	15			12
Benefits paid	(38		)	(34		)
Fair value of plan assets, December 31	$	318		$	345
Funded status, December 31	$	—		$	(6	)
Accumulated benefit obligation	$	297		$	322

Reconciliation Of The Funded Status For Qualified Plan And SERP

A reconciliation follows of the funded status for our qualified plan and SERP at the end of the measurement period to the amounts recognized in the consolidated balance sheets at December 31:

(Dollars in millions)	At December 31,
	2018		2017
Pension amounts recognized in the consolidated balance sheets:
Other liabilities	$	—	$	(6	)
Total	$	—	$	(6	)
Pension amounts recognized in accumulated other comprehensive income:
Net actuarial loss	$	16	$	12
Prior service cost	—		—
Total	$	16	$	12

Components Of Net Periodic Benefit Cost As Well As Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income For Qualified Plan And SERP

Below are the components of our net periodic benefit cost, as well as other changes in plan assets and benefit obligations recognized in other comprehensive income for our qualified plan and SERP at December 31:

(Dollars in millions)	Years ended December 31,
	2018			2017			2016
Net periodic benefit cost:
Service cost	$	11		$	11		$	11
Non-service costs (benefit):
Interest cost	13			14			14
Expected return on plan assets	(22		)	(21		)	(19		)
Amortization of actuarial loss and prior service cost	1			2			3
Other	2			1			—
Net periodic benefit cost	$	5		$	7		$	9
Other changes in plan assets and benefit obligations recognized in other    comprehensive income:
Current year actuarial (gain) loss	$	7		$	(11	)	$	(13	)
Amortization of actuarial loss	(3		)	(3		)	(2		)
Amortization of prior service cost	—			—			(1		)
Total recognized in other comprehensive (income) loss	$	4		$	(14	)	$	(16	)
Total recognized in net periodic benefit cost and other comprehensive    (income) loss	$	9		$	(7	)	$	(7	)

Fair Value Hierarchy Of Assets Measured At Fair Value On A Recurring Basis

(Dollars in millions)	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
At December 31, 2018
Fixed maturities, available for sale:
States, municipalities and political subdivisions	$	—	$	29	$	—	$	29
Corporate	—		37		—		37
United States Government	5		—		—		5
Total fixed maturities, available for sale	5		66		—		71
Common equities	215		—		—		215
Total	$	220	$	66	$	—	$	286
At December 31, 2017
Fixed maturities, available for sale:
States, municipalities and political subdivisions	$	—	$	31	$	—	$	31
Corporate	—		34		—		34
Total fixed maturities, available for sale	—		65		—		65
Common equities, available for sale	262		—		—		262
Total	$	262	$	65	$	—	$	327

Expected Future Benefit Payments For Qualified Plan And SERP

We expect to make the following benefit payments for our qualified plan and SERP, reflecting expected future service:

(Dollars in millions)	Years ended December 31,
	2019		2020		2021		2022		2023		2024 - 2028
Expected future benefit payments	$	43	$	23	$	22	$	21	$	22	$	140

Benefit Obligations

Weighted-Average Assumptions Used

This is a summary of the weighted-average assumptions used to determine our benefit obligations at December 31 for the plans:

	Qualified Pension Plan				SERP
	2018		2017		2018		2017
Discount rate	4.34	%	3.73	%	4.25	%	3.61	%
Rate of compensation increase	2.25-3.25		2.75-3.25		2.25-3.25		2.75-3.25

Net Periodic Benefit Cost

Weighted-Average Assumptions Used

This is a summary of the weighted-average assumptions used to determine our net periodic benefit cost for the plans:

	Qualified Pension Plan						SERP
	2018		2017		2016		2018		2017		2016
Discount rate	3.73	%	4.30	%	4.55	%	3.61	%	4.10	%	4.30	%
Expected return on plan assets	7.25		7.25		7.25		n/a		n/a		n/a
Rate of compensation increase	2.75-3.25		2.75-3.25		2.75-3.25		2.75-3.25		2.75-3.25		2.75-3.25