Fair Value (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Financial assets measured at fair value on a recurring basis on the condensed consolidated balance sheets at March 31, 2019 and December 31, 2018 were as follows:




In millions	Level 1		Level 2		Level 3		Total
March 31, 2019
Debt securities:
U.S. government securities	$	1,665	$	79	$	—	$	1,744
States, municipalities and political subdivisions	—		2,317		—		2,317
U.S. corporate securities	—		7,006		58		7,064
Foreign securities	—		2,350		3		2,353
Residential mortgage-backed securities	—		595		—		595
Commercial mortgage-backed securities	—		637		—		637
Other asset-backed securities	—		1,149		—		1,149
Redeemable preferred securities	—		27		11		38
Total debt securities	1,665		14,160		72		15,897
Equity securities	9		—		71		80
Total	$	1,674	$	14,160	$	143	$	15,977

December 31, 2018
Debt securities:
U.S. government securities	$	1,597	$	91	$	—	$	1,688
States, municipalities and political subdivisions	—		2,399		—		2,399
U.S. corporate securities	—		6,422		67		6,489
Foreign securities	—		2,380		3		2,383
Residential mortgage-backed securities	—		577		—		577
Commercial mortgage-backed securities	—		605		—		605
Other asset-backed securities	—		1,085		—		1,085
Redeemable preferred securities	—		22		7		29
Total debt securities	1,597		13,581		77		15,255
Equity securities	19		—		54		73
Total	$	1,616	$	13,581	$	131	$	15,328

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying value and estimated fair value classified by level of fair value hierarchy for financial instruments carried on the condensed consolidated balance sheets at adjusted cost or contract value at March 31, 2019 and December 31, 2018 were as follows:



	Carrying Value		Estimated Fair Value
In millions			Level 1		Level 2		Level 3		Total
March 31, 2019
Assets:
Mortgage loans	$	1,338	$	—	$	—	$	1,350	$	1,350
Equity securities ⁽¹⁾	135		N/A		N/A		N/A		N/A
Liabilities:
Investment contract liabilities:
With a fixed maturity	5		—		—		5		5
Without a fixed maturity	377		—		—		364		364
Long-term debt	71,781		72,376		—		—		72,376

December 31, 2018
Assets:
Mortgage loans	$	1,361	$	—	$	—	$	1,366	$	1,366
Equity securities ⁽¹⁾	140		N/A		N/A		N/A		N/A
Liabilities:
Investment contract liabilities:
With a fixed maturity	5		—		—		5		5
Without a fixed maturity	382		—		—		357		357
Long-term debt	72,709		71,252		—		—		71,252

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(1)	It was not practical to estimate the fair value of these cost-method investments as it represents shares of unlisted companies.

Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table Text Block]

Separate Accounts financial assets as of March 31, 2019 and December 31, 2018 were as follows:



	March 31, 2019								December 31, 2018
In millions	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Debt securities	$	983	$	2,445	$	—	$	3,428	$	782	$	2,500	$	4	$	3,286
Equity securities	—		3		—		3		—		3		—		3
Common/collective trusts	—		415		—		415		—		404		—		404
Total ⁽¹⁾	$	983	$	2,863	$	—	$	3,846	$	782	$	2,907	$	4	$	3,693

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(1)	Excludes $228 million and $191 million of cash and cash equivalents and accounts receivable at March 31, 2019 and December 31, 2018, respectively.