Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2024

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 policy reserves, reinsurance recoverable and other as follows:

(Dollars in millions)	Three months ended March 31,
	2024						2023
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	(570)	$	(123)	$	(447)	$	(847)	$	(182)	$	(665)
OCI before investment gains and losses, net, recognized in net income	(65)		(13)		(52)		163		35		128
Investment gains and losses, net, recognized in net income	10		2		8		—		—		—
OCI	(55)		(11)		(44)		163		35		128
AOCI, end of period	$	(625)	$	(134)	$	(491)	$	(684)	$	(147)	$	(537)
Pension obligations:
AOCI, beginning of period	$	30	$	8	$	22	$	36	$	9	$	27
OCI excluding amortization recognized in net income	—		—		—		(5)		(1)		(4)
Amortization recognized in net income	—		—		—		(1)		—		(1)
OCI	—		—		—		(6)		(1)		(5)
AOCI, end of period	$	30	$	8	$	22	$	30	$	8	$	22
Life policy reserves, reinsurance recoverable and other:
AOCI, beginning of period	$	(13)	$	(3)	$	(10)	$	29	$	5	$	24
OCI before investment gains and losses, net, recognized in net income	47		10		37		(45)		(9)		(36)
Investment gains and losses, net, recognized in net income	—		—		—		—		—		—
OCI	47		10		37		(45)		(9)		(36)
AOCI, end of period	$	34	$	7	$	27	$	(16)	$	(4)	$	(12)
Summary of AOCI:
AOCI, beginning of period	$	(553)	$	(118)	$	(435)	$	(782)	$	(168)	$	(614)
Investments OCI	(55)		(11)		(44)		163		35		128
Pension obligations OCI	—		—		—		(6)		(1)		(5)
Life policy reserves, reinsurance recoverable and other OCI	47		10		37		(45)		(9)		(36)
Total OCI	(8)		(1)		(7)		112		25		87
AOCI, end of period	$	(561)	$	(119)	$	(442)	$	(670)	$	(143)	$	(527)