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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis Financial assets measured at fair value on a recurring basis on the consolidated balance sheets at December 31, 2022 and 2021 were as follows:
In millionsLevel 1Level 2Level 3Total
December 31, 2022    
Cash and cash equivalents (1)
$6,902 $6,049 $— $12,951 
Debt securities:    
U.S. government securities1,860 32 — 1,892 
States, municipalities and political subdivisions— 2,272 — 2,272 
U.S. corporate securities— 8,897 61 8,958 
Foreign securities— 2,542 8 2,550 
Residential mortgage-backed securities— 757 — 757 
Commercial mortgage-backed securities— 1,018 — 1,018 
Other asset-backed securities— 2,810 — 2,810 
Redeemable preferred securities— 23 — 23 
Total debt securities1,860 18,351 69 20,280 
Equity securities116 — 60 176 
Total$8,878 $24,400 $129 $33,407 
December 31, 2021    
Cash and cash equivalents$4,954 $4,454 $— $9,408 
Debt securities:
U.S. government securities2,372 44 — 2,416 
States, municipalities and political subdivisions— 3,086 5 3,091 
U.S. corporate securities— 9,697 38 9,735 
Foreign securities— 2,983 10 2,993 
Residential mortgage-backed securities— 875 — 875 
Commercial mortgage-backed securities— 1,310 — 1,310 
Other asset-backed securities— 2,789 3 2,792 
Redeemable preferred securities— 28 — 28 
Total debt securities2,372 20,812 56 23,240 
Equity securities114 — 55 169 
Total$7,440 $25,266 $111 $32,817 
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(1)Includes cash and cash equivalents of $6 million which have been accounted for as assets held for sale and are included in assets held for sale on the consolidated balance sheet at December 31, 2022. See Note 2 ‘‘Acquisitions, Divestitures and Asset Sales’’ for additional information.
Schedule of Changes in Level 3 Financial Assets
The changes in the balances of Level 3 financial assets during the year ended December 31, 2022 were as follows:
In millionsStates,
municipalities
 and political
subdivisions		U.S.
corporate
securities		Foreign
securities		Other asset-
backed
securities		Equity
securities		Total
Beginning balance$5 $38 $10 $3 $55 $111 
Net realized and unrealized capital losses:
Included in earnings — (8)— — (1)(9)
Included in other comprehensive loss— (5)(2)(2)— (9)
Purchases— 36 — 30 29 95 
Sales(5)— — (2)(23)(30)
Settlements— — — — — — 
Transfers out of Level 3, net— — — (29)— (29)
Ending balance$— $61 $8 $— $60 $129 
The changes in the balances of Level 3 financial assets during the year ended December 31, 2021 were as follows:
In millionsStates,
municipalities
 and political
subdivisions		U.S.
corporate
securities		Foreign
securities		Other asset-
backed
securities		Redeemable
preferred
securities		Equity
securities		Total
Beginning balance$1 $52 $— $— $1 $30 $84 
Net realized and unrealized capital gains (losses):
Included in earnings— (10)— — 2 13 5 
Included in other comprehensive income— (3)— — (1)— (4)
Purchases— 1 — 3 — 13 17 
Sales(1)(1)— — (2)(1)(5)
Settlements— (1)— — — — (1)
Transfers into Level 3, net5 — 10 — — — 15 
Ending balance$5 $38 $10 $3 $— $55 $111 

The change in net unrealized capital losses included in other comprehensive income associated with Level 3 financial assets which were held as of December 31, 2021 was $4 million during the year ended December 31, 2021.

The total gross transfers into (out of) Level 3 during the years ended December 31, 2022 and 2021 were as follows:
In millions20222021
Gross transfers into Level 3$— $15 
Gross transfers out of Level 3(29)— 
Net transfers into (out of) Level 3$(29)$15 
Schedule of Carrying Value and Fair Value By Level of Fair Value Hierarchy
The carrying value and estimated fair value classified by level of fair value hierarchy for financial instruments carried on the consolidated balance sheets at adjusted cost or contract value at December 31, 2022 and 2021 were as follows:
Carrying
Value		 Estimated Fair Value
In millionsLevel 1Level 2Level 3Total
December 31, 2022
Assets: 
Mortgage loans$1,044 $— $— $978 $978 
Equity securities (1)
411 N/AN/AN/AN/A
Liabilities:
Investment contract liabilities:
With a fixed maturity3 — — 3 3 
Without a fixed maturity332 — — 305 305 
Long-term debt (2)
52,257 47,653 — — 47,653 
December 31, 2021
Assets:
Mortgage loans$902 $— $— $907 $907 
Equity securities (1)
126 N/AN/AN/AN/A
Liabilities:
Investment contract liabilities:
With a fixed maturity5 — — 5 5 
Without a fixed maturity336 — — 373 373 
Long-term debt56,176 64,157 — — 64,157 
______________________________________
(1)It was not practical to estimate the fair value of these cost-method investments as it represents shares of unlisted companies. See Note 1 ‘‘Significant Accounting Policies’’ for additional information regarding the valuation of cost method investments.
(2)Includes long-term debt of $3 million which has been accounted for as liabilities held for sale and is included in liabilities held for sale on the consolidated balance sheet at December 31, 2022. See Note 2 ‘‘Acquisitions, Divestitures and Asset Sales’’ for additional information.
Schedule of Fair Value of Separate Accounts by Major Category of Investment
Separate Accounts financial assets at December 31, 2022 and 2021 were as follows:
December 31, 2022December 31, 2021
In millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$2 $154 $— $156 $2 $186 $— $188 
Debt securities712 1,965 — 2,677 1,233 3,048 — 4,281 
Equity securities— — — — — 1 — 1 
Common/collective trusts— 480 — 480 — 547 — 547 
Total (1)
$714 $2,599 $— $3,313 $1,235 $3,782 $— $5,017 
_____________________________________
(1)Excludes $85 million of other payables and $70 million of other receivables at December 31, 2022 and 2021, respectively.