Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation between the Company's federal income tax (expense) benefit at statutory rates and the recorded income tax (expense) benefit

The following table presents a reconciliation between the Company's income tax expense at statutory rates and the recorded income tax expense.

Years ended December 31
(In millions)	2021		2020		2019
Income tax expense at statutory rates	$	(312)	$	(172)	$	(257)
Tax benefit from tax exempt income	51		52		53
Foreign taxes and credits	(3)		2		(1)
State income tax expense	(13)		(6)		(14)
Other tax expense	(5)		(7)		(4)
Income tax expense	$	(282)	$	(131)	$	(223)

Current and deferred components of the Company's income tax (expense) benefit

The following table presents the current and deferred components of the Company's income tax expense.

Years ended December 31
(In millions)	2021		2020		2019
Current tax expense	$	(235)	$	(180)	$	(269)
Deferred tax (expense) benefit	(47)		49		46
Total income tax expense	$	(282)	$	(131)	$	(223)

Significant components of the Company's deferred tax assets and liabilities

The deferred tax effects of the significant components of the Company's deferred tax assets and liabilities are presented in the following table.

December 31
(In millions)	2021		2020
Deferred Tax Assets:
Insurance reserves:
Property and casualty claim and claim adjustment expense reserves	$	173	$	157
Unearned premium reserves	193		174
Deferred Revenue	64		62
Employee benefits	46		122
Deferred retroactive reinsurance benefit	90		83
Other assets	88		92
Gross deferred tax assets	654		690
Deferred Tax Liabilities:
Investment valuation differences	93		28
Deferred acquisition costs	99		93
Net unrealized gains	272		453
Software and hardware	27		31
Other liabilities	21		19
Gross deferred tax liabilities	512		624
Net deferred tax asset	$	142	$	66