Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income

Shareholders’ equity included the following activity in accumulated other comprehensive income for the three and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2021		2020		2021		2020
Net unrealized investment gains (losses):
Beginning of period balance	$	977	$	987	$	1,214	$	774
Other comprehensive income (loss) before reclassifications ($(73), $83, $(346), $278 pretax)	(61)		52		(297)		218
Amounts reclassified from accumulated other comprehensive income ($(14), $(10), $(15), $47 pretax) (1)	(12)		(8)		(13)		39
Other comprehensive income (loss)	(73)		44		(310)		257
End of period balance	904		1,031		904		1,031
Foreign currency translation adjustments:
Beginning of period balance	6		(2)		7		4
Other comprehensive income (loss) before reclassifications	(5)		1		(6)		(5)
Other comprehensive income (loss)	(5)		1		(6)		(5)
End of period balance	1		(1)		1		(1)
Net cash flow hedges:
Beginning of period balance	241		267		248		279
Other comprehensive loss before reclassifications ($0, $0, $0, $(7) pretax)	—		—		—		(5)
Amounts reclassified from accumulated other comprehensive income ($(20), $(4), $(29), $(14) pretax) (2)	(15)		(3)		(22)		(10)
Other comprehensive loss	(15)		(3)		(22)		(15)
End of period balance	226		264		226		264
Pension and other postretirement benefits:
Beginning of period balance	(54)		(39)		(55)		(38)
Other comprehensive loss before reclassifications ($0, $0, $0, and $(8) pretax)	—		—		—		(6)
Amounts reclassified from accumulated other comprehensive loss ($0, $0, $1 and $7 pretax) (3)	—		—		1		5
Other comprehensive income (loss)	—		—		1		(1)
End of period balance	(54)		(39)		(54)		(39)
Total beginning of period accumulated other comprehensive income	1,170		1,213		1,414		1,019
Total other comprehensive income (loss)	(93)		42		(337)		236
Total end of period accumulated other comprehensive income	$	1,077	$	1,255	$	1,077	$	1,255

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(1)Amounts reclassified from accumulated other comprehensive income for specifically identified debt securities are included in net investment income in the unaudited condensed consolidated statements of operations.

(2)Amounts reclassified from accumulated other comprehensive income for specifically identified cash flow hedges are included in interest expense in the unaudited condensed consolidated statements of operations. The Company expects to reclassify approximately $11 million, net of tax, in net gains associated with its cash flow hedges into net income within the next 12 months.

(3)Amounts reclassified from accumulated other comprehensive loss for specifically identified pension and other postretirement benefits are included in other income in the unaudited condensed consolidated statements of operations.