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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Investments    
Fixed maturities, at fair value (amortized cost: 2022—$12,812; 2021—$12,230) $ 11,734 $ 13,022
Equity securities, at fair value (cost: 2022—$4,292; 2021—$4,121) 8,840 11,315
Other invested assets 414 329
Total investments 20,988 24,666
Cash and cash equivalents 1,083 1,139
Investment income receivable 152 144
Finance receivable 87 98
Premiums receivable 2,403 2,053
Reinsurance Recoverable 561 570
Prepaid reinsurance premiums 91 78
Deferred policy acquisition costs 1,036 905
Land, building and equipment, net, for company use (accumulated depreciation: 2022—$317; 2021—$303) 204 205
Other assets 706 570
Separate accounts 888 959
Total assets 28,199 31,387
Insurance reserves    
Loss and loss expense reserves 8,113 7,305
Life policy and investment contract reserves 3,053 3,014
Unearned premiums 3,798 3,271
Other liabilities 1,249 1,092
Deferred income tax 780 1,744
Note payable 44 54
Long-term debt and lease obligations 843 843
Separate accounts 888 959
Total liabilities 18,768 18,282
Commitments and contingent liabilities (Note 12)
Shareholders' Equity    
Common stock, par value—$2 per share; (authorized: 2022 and 2021—500 million shares; issued: 2022 and 2021—198.3 million shares) 397 397
Paid-in capital 1,379 1,356
Retained earnings 10,797 12,625
Accumulated other comprehensive income (828) 648
Treasury stock at cost (2022—41.2 million shares and 2021—38.0 million shares) (2,314) (1,921)
Total shareholders' equity 9,431 13,105
Total liabilities and shareholders' equity $ 28,199 $ 31,387