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Shareholders' Equity And Dividend Restrictions
 12 Months Ended
Dec. 31, 2022
Shareholders Equity And Dividend Restrictions [Abstract]  
Shareholders' Equity And Dividend Restrictions Shareholders’ Equity and Dividend Restrictions
Declared cash dividends per share were $2.76, $2.52 and $2.40 for the years ended December 31, 2022, 2021 and 2020, respectively.

Our lead insurance subsidiary, The Cincinnati Insurance Company, paid dividends to the parent company of $729 million, $583 million and $550 million in 2022, 2021 and 2020, respectively. State regulatory requirements restrict the dividends insurance subsidiaries can pay. Generally, the most our lead insurance subsidiary can pay without prior regulatory approval is the greater of 10% of statutory capital and surplus or 100% of statutory net income for the prior calendar year. Dividends exceeding these limitations may be paid only with approval of the insurance department of the domiciliary state. During 2023, the total that our lead insurance subsidiary may pay in dividends is approximately $651 million.

Dividend payments from Cincinnati Global to the parent company are subject to regulation by U.K. law. Cincinnati Global paid no dividends to the parent company in 2022, 2021 or 2020.
 
Accumulated Other Comprehensive Income
The table below shows beginning and end of year accumulated other comprehensive income (AOCI) for investments, pension obligations, life deferred acquisition costs, life policy reserves and other. The changes from the beginning of year to the end of year are the result of changes to other comprehensive income or loss (OCI).
 (Dollars in millions)202220212020
Before
tax		Income
tax		NetBefore
tax		Income
tax		NetBefore
tax		Income
tax		Net
Investments:
AOCI, January 1$792 $165 $627 $1,026 $215 $811 $590 $123 $467 
OCI before investment gains and losses, net, recognized in net income(1,642)(347)(1,295)(204)(44)(160)371 78 293 
Investment gains and losses, net, recognized in net income3 — 3 (30)(6)(24)65 14 51 
OCI(1,639)(347)(1,292)(234)(50)(184)436 92 344 
AOCI, December 31$(847)$(182)$(665)$792 $165 $627 $1,026 $215 $811 
Pension obligations:
AOCI, January 1$27 $7 $20 $(41)$(7)$(34)$(9)$— $(9)
OCI excluding amortization recognized in net income12 2 10 62 12 50 (35)(7)(28)
Amortization recognized in net income(3)— (3)6 2 4 3 — 3 
OCI9 2 7 68 14 54 (32)(7)(25)
AOCI, December 31$36 $9 $27 $27 $7 $20 $(41)$(7)$(34)
Life deferred acquisition costs, life policy reserves and other:
AOCI, January 1$1 $— $1 $(10)$(2)$(8)$(13)$(3)$(10)
OCI before investment gains and losses, net, recognized in net income1 — 1 11 2 9 3 1 2 
Investment gains and losses, net, recognized in net income— — — — — — — — — 
OCI1 — 1 11 2 9 3 1 2 
AOCI, December 31$2 $— $2 $1 $— $1 $(10)$(2)$(8)
Summary of AOCI:
AOCI, January 1$820 $172 $648 $975 $206 $769 $568 $120 $448 
Investments OCI(1,639)(347)(1,292)(234)(50)(184)436 92 344 
Pension obligations OCI9 2 7 68 14 54 (32)(7)(25)
Life deferred acquisition costs, life policy reserves and other OCI1 — 1 11 2 9 3 1 2 
Total OCI(1,629)(345)(1,284)(155)(34)(121)407 86 321 
AOCI, December 31$(809)$(173)$(636)$820 $172 $648 $975 $206 $769 

Investments gains and losses, net, and life deferred acquisition costs, life policy reserves and other investment gains and losses, net, are recorded in the investment gains and losses, net, line item in the consolidated statements of income. Amortization on pension obligations is recorded in the insurance losses and contract holders' benefits and underwriting, acquisition and insurance expenses line items in the consolidated statements of income.