Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 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 September 30,
	2021						2020
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	962	$	201	$	761	$	772	$	162	$	610
OCI before investment gains and losses, net, recognized in net income	(80)		(18)		(62)		115		23		92
Investment gains and losses, net, recognized in net income	(8)		(1)		(7)		(3)		—		(3)
OCI	(88)		(19)		(69)		112		23		89
AOCI, end of period	$	874	$	182	$	692	$	884	$	185	$	699
Pension obligations:
AOCI, beginning of period	$	(36)	$	(6)	$	(30)	$	(7)	$	—	$	(7)
OCI excluding amortization recognized in net income	—		—		—		—		—		—
Amortization recognized in net income	2		1		1		—		—		—
OCI	2		1		1		—		—		—
AOCI, end of period	$	(34)	$	(5)	$	(29)	$	(7)	$	—	$	(7)
Life deferred acquisition costs, life policy reserves and other:
AOCI, beginning of period	$	—	$	—	$	—	$	(8)	$	(2)	$	(6)
OCI before investment gains and losses, net, recognized in net income	—		—		—		—		—		—
Investment gains and losses, net, recognized in net income	—		—		—		—		—		—
OCI	—		—		—		—		—		—
AOCI, end of period	$	—	$	—	$	—	$	(8)	$	(2)	$	(6)
Summary of AOCI:
AOCI, beginning of period	$	926	$	195	$	731	$	757	$	160	$	597
Investments OCI	(88)		(19)		(69)		112		23		89
Pension obligations OCI	2		1		1		—		—		—
Life deferred acquisition costs, life policy reserves and other OCI	—		—		—		—		—		—
Total OCI	(86)		(18)		(68)		112		23		89
AOCI, end of period	$	840	$	177	$	663	$	869	$	183	$	686

(Dollars in millions)	Nine months ended September 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	(132)		(29)		(103)		222		46		176
Investment gains and losses, net, recognized in net income	(20)		(4)		(16)		72		16		56
OCI	(152)		(33)		(119)		294		62		232
AOCI, end of period	$	874	$	182	$	692	$	884	$	185	$	699
Pension obligations:
AOCI, beginning of period	$	(41)	$	(7)	$	(34)	$	(9)	$	—	$	(9)
OCI excluding amortization recognized in net income	2		1		1		—		—		—
Amortization recognized in net income	5		1		4		2		—		2
OCI	7		2		5		2		—		2
AOCI, end of period	$	(34)	$	(5)	$	(29)	$	(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	(152)		(33)		(119)		294		62		232
Pension obligations OCI	7		2		5		2		—		2
Life deferred acquisition costs, life policy reserves and other OCI	10		2		8		5		1		4
Total OCI	(135)		(29)		(106)		301		63		238
AOCI, end of period	$	840	$	177	$	663	$	869	$	183	$	686