Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (AOCI) includes changes in unrealized gains and losses on investments, changes in pension obligations and changes in life deferred acquisition costs, life policy reserves and other as follows:

(Dollars in millions)	Three months ended June 30,
	2021						2020
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	830	$	174	$	656	$	266	$	55	$	211
OCI before investment gains and losses, net, recognized in net income	141		28		113		506		107		399
Investment gains and losses, net, recognized in net income	(9)		(1)		(8)		—		—		—
OCI	132		27		105		506		107		399
AOCI, end of period	$	962	$	201	$	761	$	772	$	162	$	610
Pension obligations:
AOCI, beginning of period	$	(37)	$	(6)	$	(31)	$	(8)	$	—	$	(8)
OCI excluding amortization recognized in net income	—		—		—		—		—		—
Amortization recognized in net income	1		—		1		1		—		1
OCI	1		—		1		1		—		1
AOCI, end of period	$	(36)	$	(6)	$	(30)	$	(7)	$	—	$	(7)
Life deferred acquisition costs, life policy reserves and other:
AOCI, beginning of period	$	—	$	—	$	—	$	1	$	—	$	1
OCI before investment gains and losses, net, recognized in net income	—		—		—		(9)		(2)		(7)
Investment gains and losses, net, recognized in net income	—		—		—		—		—		—
OCI	—		—		—		(9)		(2)		(7)
AOCI, end of period	$	—	$	—	$	—	$	(8)	$	(2)	$	(6)
Summary of AOCI:
AOCI, beginning of period	$	793	$	168	$	625	$	259	$	55	$	204
Investments OCI	132		27		105		506		107		399
Pension obligations OCI	1		—		1		1		—		1
Life deferred acquisition costs, life policy reserves and other OCI	—		—		—		(9)		(2)		(7)
Total OCI	133		27		106		498		105		393
AOCI, end of period	$	926	$	195	$	731	$	757	$	160	$	597

(Dollars in millions)	Six months ended June 30,
	2021						2020
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	1,026	$	215	$	811	$	590	$	123	$	467
OCI before investment gains and losses, net, recognized in net income	(52)		(11)		(41)		107		23		84
Investment gains and losses, net, recognized in net income	(12)		(3)		(9)		75		16		59
OCI	(64)		(14)		(50)		182		39		143
AOCI, end of period	$	962	$	201	$	761	$	772	$	162	$	610
Pension obligations:
AOCI, beginning of period	$	(41)	$	(7)	$	(34)	$	(9)	$	—	$	(9)
OCI excluding amortization recognized in net income	2		—		2		—		—		—
Amortization recognized in net income	3		1		2		2		—		2
OCI	5		1		4		2		—		2
AOCI, end of period	$	(36)	$	(6)	$	(30)	$	(7)	$	—	$	(7)
Life deferred acquisition costs, life policy reserves and other:
AOCI, beginning of period	$	(10)	$	(2)	$	(8)	$	(13)	$	(3)	$	(10)
OCI before investment gains and losses, net, recognized in net income	10		2		8		5		1		4
Investment gains and losses, net, recognized in net income	—		—		—		—		—		—
OCI	10		2		8		5		1		4
AOCI, end of period	$	—	$	—	$	—	$	(8)	$	(2)	$	(6)
Summary of AOCI:
AOCI, beginning of period	$	975	$	206	$	769	$	568	$	120	$	448
Investments OCI	(64)		(14)		(50)		182		39		143
Pension obligations OCI	5		1		4		2		—		2
Life deferred acquisition costs, life policy reserves and other OCI	10		2		8		5		1		4
Total OCI	(49)		(11)		(38)		189		40		149
AOCI, end of period	$	926	$	195	$	731	$	757	$	160	$	597