SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Impact from Adoption on Statement of Earnings

Consolidated Statement of Earnings

Year Ended December 31, 2022

(In millions)	As Reported			Adoption Impacts			As Adjusted
Revenues:
Net earned premiums, principally supplemental health insurance (1)		$	15,263		$	(362)		$	14,901
Net investment income		3,656			0			3,656
Net investment gains (losses)		363			0			363
Other income (loss)		220			0			220
Total revenues		19,502			(362)			19,140
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement (1),(2)		9,153			(51)			9,102
Reserve remeasurement (gains) losses (3)		0			(215)			(215)
Total benefits and claims, net		9,153			(266)			8,887
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs (4)		1,152			(360)			792
Insurance commissions		1,117			0			1,117
Insurance and other expenses (5)		3,250			(1)			3,249
Interest expense		226			0			226
Total acquisition and operating expenses		5,745			(361)			5,384
Total benefits and expenses		14,898			(627)			14,271
Earnings before income taxes		4,604			265			4,869
Income taxes (6)		403			48			451
Net earnings		$	4,201		$	217		$	4,418

(1) Adjustment reflects a $324 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $38 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.

(2) Adjustment reflects 2022 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts.

(3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard.

(4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.

(5) Adjustment reflects 2022 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard.

(6) Adjustment reflects an increase in income tax expense associated with the increase in pretax earnings.

Consolidated Statement of Earnings

Year Ended December 31, 2021

(In millions)	As Reported			Adoption Impacts			As Adjusted
Revenues:
Net earned premiums, principally supplemental health insurance (1)		$	17,647		$	(552)		$	17,095
Net investment income		3,818			0			3,818
Net investment gains (losses)		468			0			468
Other income (loss)		173			0			173
Total revenues		22,106			(552)			21,554
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement (1)(2)		10,576			47			10,623
Reserve remeasurement (gains) losses (3)		0			(147)			(147)
Total benefits and claims, net		10,576			(100)			10,476
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs (4)		1,170			(335)			835
Insurance commissions		1,256			0			1,256
Insurance and other expenses (5)		3,544			(3)			3,541
Interest expense		238			0			238
Total acquisition and operating expenses		6,208			(338)			5,870
Total benefits and expenses		16,784			(438)			16,346
Earnings before income taxes		5,322			(114)			5,208
Income taxes (6)		997			(20)			977
Net earnings		$	4,325		$	(94)		$	4,231

(1) Adjustment reflects a $489 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $63 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.

(2) Adjustment reflects 2021 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts.

(3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard.

(4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.

(5) Adjustment reflects 2021 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard.

(6) Adjustment reflects a decrease in income tax expense associated with the decrease in pretax earnings.

Schedule of Impact from Adoption on Balance Sheet

Consolidated Balance Sheet

December 31, 2022

(In millions)	As Reported			Adoption Impacts			As Adjusted
Assets:
Investments and cash:
Fixed maturity securities available for sale, at fair value		$	71,936		$	0		$	71,936
Fixed maturity securities available for sale - consolidated variable   interest entities, at fair value		3,805			0			3,805
Fixed maturity securities held to maturity, at amortized cost,   net of allowance for credit losses		19,056			0			19,056
Equity securities, at fair value		1,091			0			1,091
Commercial mortgage and other loans, net of allowance for credit losses		13,496			0			13,496
Other investments		4,070			0			4,070
Cash and cash equivalents		3,943			0			3,943
Total investments and cash		117,397			0			117,397
Receivables		647			0			647
Accrued investment income		745			0			745
Deferred policy acquisition costs (1)		8,593			646			9,239
Property and equipment		530			0			530
Other (2)		3,105			75			3,180
Total assets		$	131,017		$	721		$	131,738
Liabilities and shareholders’ equity:
Liabilities:
Policy liabilities:
Future policy benefits (3),(4),(5)		$	80,749		$	7,492		$	88,241
Unpaid policy claims (3),(6)		4,561			(4,360)			201
Unearned premiums		1,825			0			1,825
Other policyholders’ funds (6)		6,123			520			6,643
Total policy liabilities		93,258			3,652			96,910
Income taxes (7)		1,296			(598)			698
Payables for return of cash collateral on loaned securities		1,809			0			1,809
Notes payable and lease obligations		7,442			0			7,442
Other (4)		4,847			(108)			4,739
Total liabilities		108,652			2,946			111,598
Commitments and contingent liabilities
Shareholders’ equity:
Common stock		135			0			135
Additional paid-in capital		2,641			0			2,641
Retained earnings (8)		44,568			(201)			44,367
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses) (9)		(3,640)			76			(3,564)
Unrealized gains (losses) on fixed maturity securities		(702)			0			(702)
Unrealized gains (losses) on derivatives		(27)			0			(27)
Effect of changes in discount rate assumptions (10)		0			(2,100)			(2,100)
Pension liability adjustment		(36)			0			(36)
Treasury stock		(20,574)			0			(20,574)
Total shareholders’ equity		22,365			(2,225)			20,140
Total liabilities and shareholders’ equity		$	131,017		$	721		$	131,738

(1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.

(2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard.

(3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve.

(4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve.

(5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products

(6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds.

(7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard.

(8) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217.

(9) Adjustment reflects foreign currency translation related to the updated standard, as applicable.

(10) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including an increase of $13,732 in 2022 due to changes in the discount rate assumptions.

Consolidated Balance Sheet

December 31, 2021

(In millions)	As Reported			Adoption Impacts			As Adjusted
Assets:
Investments and cash:
Fixed maturity securities available for sale, at fair value		$	94,206		$	0		$	94,206
Fixed maturity securities available for sale - consolidated variable   interest entities, at fair value		4,490			0			4,490
Fixed maturity securities held to maturity, at amortized cost,   net of allowance for credit losses		22,000			0			22,000
Equity securities, at fair value		1,603			0			1,603
Commercial mortgage and other loans, net of allowance for credit losses		11,786			0			11,786
Other investments		3,842			0			3,842
Cash and cash equivalents		5,051			0			5,051
Total investments and cash		142,978			0			142,978
Receivables		672			0			672
Accrued investment income		737			0			737
Deferred policy acquisition costs (1)		9,525			323			9,848
Property and equipment		538			0			538
Other (2)		3,092			285			3,377
Total assets		$	157,542		$	608		$	158,150
Liabilities and shareholders’ equity:
Liabilities:
Policy liabilities:
Future policy benefits (3),(4),(5)		$	90,588		$	25,376		$	115,964
Unpaid policy claims (3),(6)		4,836			(4,685)			151
Unearned premiums		2,576			0			2,576
Other policyholders’ funds (6)		7,072			568			7,640
Total policy liabilities		105,072			21,259			126,331
Income taxes (7)		4,339			(4,309)			30
Payables for return of cash collateral on loaned securities		2,162			0			2,162
Notes payable and lease obligations		7,956			0			7,956
Other (4)		4,760			(120)			4,640
Total liabilities		124,289			16,830			141,119
Commitments and contingent liabilities
Shareholders’ equity:
Common stock		135			0			135
Additional paid-in capital		2,529			0			2,529
Retained earnings (8)		41,381			(418)			40,963
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses) (9)		(2,013)			28			(1,985)
Unrealized gains (losses) on fixed maturity securities		9,602			0			9,602
Unrealized gains (losses) on derivatives		(30)			0			(30)
Effect of changes in discount rate assumptions (10)		0			(15,832)			(15,832)
Pension liability adjustment		(166)			0			(166)
Treasury stock		(18,185)			0			(18,185)
Total shareholders’ equity		33,253			(16,222)			17,031
Total liabilities and shareholders’ equity		$	157,542		$	608		$	158,150

(1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.

(2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard.

(3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve.

(4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve.

(5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products

(6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds.

(7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard.

(8) Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94).

(9) Adjustment reflects foreign currency translation related to the updated standard, as applicable.

(10) Adjustment reflects the impacts from adoption of ($18,570) and post-adoption activity under the updated standard, including $2,738 in 2021 due to changes in the discount rate assumptions.