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Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments [Abstract]  
Schedule of Total Investments
Total investments at December 31, 2023 and 2022 were as follows:
20232022
In millionsCurrentLong-termTotalCurrentLong-termTotal
Debt securities available for sale$3,131 $18,582 $21,713 $2,718 $17,562 $20,280 
Mortgage loans128 1,183 1,311 55 989 1,044 
Other investments— 3,254 3,254 5 2,562 2,567 
Total investments (1)
$3,259 $23,019 $26,278 $2,778 $21,113 $23,891 
_____________________________________________
(1)Includes long-term investments of $17 million which were accounted for as assets held for sale and were 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 Debt Securities Available For Sale
Debt securities available for sale at December 31, 2023 and 2022 were as follows:
In millionsGross
Amortized
Cost		Allowance
for Credit
Losses		Net
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2023   
Debt securities:   
U.S. government securities$2,071 $— $2,071 $19 $(54)$2,036 
States, municipalities and political subdivisions2,219 — 2,219 31 (35)2,215 
U.S. corporate securities10,156 — 10,156 133 (446)9,843 
Foreign securities2,593 — 2,593 41 (122)2,512 
Residential mortgage-backed securities862 — 862 8 (60)810 
Commercial mortgage-backed securities1,066 — 1,066 9 (100)975 
Other asset-backed securities3,294 — 3,294 26 (18)3,302 
Redeemable preferred securities21 — 21 — (1)20 
Total debt securities (1)
$22,282 $— $22,282 $267 $(836)$21,713 
December 31, 2022
Debt securities:
U.S. government securities$2,074 $— $2,074 $— $(182)$1,892 
States, municipalities and political subdivisions2,393 — 2,393 8 (129)2,272 
U.S. corporate securities9,838 (3)9,835 26 (903)8,958 
Foreign securities2,780 (1)2,779 15 (244)2,550 
Residential mortgage-backed securities845 — 845 1 (89)757 
Commercial mortgage-backed securities1,172 — 1,172 1 (155)1,018 
Other asset-backed securities2,940 — 2,940 6 (136)2,810 
Redeemable preferred securities25 — 25 — (2)23 
Total debt securities (1)
$22,067 $(4)$22,063 $57 $(1,840)$20,280 
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(1)Investment risks associated with the Company’s experience-rated products generally do not impact the Company’s consolidated operating results. At December 31, 2023, debt securities with a fair value of $592 million, gross unrealized capital gains of $10 million and gross unrealized capital losses of
$28 million, and at December 31, 2022, debt securities with a fair value of $609 million, gross unrealized capital gains of $3 million and gross unrealized capital losses of $59 million were included in total debt securities, but support experience-rated products. Changes in net unrealized capital gains (losses) on these securities are not reflected in accumulated other comprehensive loss.
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities at December 31, 2023 are shown below by contractual maturity. Actual maturities may differ from contractual maturities because securities may be restructured, called or prepaid, or the Company intends to sell a security prior to maturity.
In millions Amortized
Cost		Fair
Value
Due to mature: 
Less than one year$1,244 $1,230 
One year through five years7,563 7,390 
After five years through ten years4,302 4,204 
Greater than ten years3,951 3,802 
Residential mortgage-backed securities862 810 
Commercial mortgage-backed securities1,066 975 
Other asset-backed securities3,294 3,302 
Total$22,282 $21,713 
Schedule of Debt Securities In An Unrealized Capital Loss Position
Summarized below are the debt securities the Company held at December 31, 2023 and 2022 that were in an unrealized capital loss position, aggregated by the length of time the investments have been in that position:
Less than 12 monthsGreater than 12 monthsTotal
In millions, except number of securitiesNumber
of
 Securities		Fair
Value		Unrealized
Losses		Number
of
 Securities		Fair
Value		Unrealized
Losses		Number
of
 Securities		Fair
Value		Unrealized
Losses
December 31, 2023
Debt securities:  
U.S. government securities74 $194 $2 280 $891 $52 354 $1,085 $54 
States, municipalities and political subdivisions95 181 1 455 733 34 550 914 35 
U.S. corporate securities576 672 14 4,120 5,602 432 4,696 6,274 446 
Foreign securities160 243 4 964 1,407 118 1,124 1,650 122 
Residential mortgage-backed securities33 97 1 461 517 59 494 614 60 
Commercial mortgage-backed securities44 94 2 287 581 98 331 675 100 
Other asset-backed securities196 449 4 443 867 14 639 1,316 18 
Redeemable preferred securities4 2 — 8 18 1 12 20 1 
Total debt securities1,182 $1,932 $28 7,018 $10,616 $808 8,200 $12,548 $836 
December 31, 2022
Debt securities:
U.S. government securities519 $1,620 $164 35 $191 $18 554 $1,811 $182 
States, municipalities and political subdivisions859 1,370 95 196 322 34 1,055 1,692 129 
U.S. corporate securities5,193 6,537 622 1,479 1,822 281 6,672 8,359 903 
Foreign securities1,168 1,715 147 403 592 97 1,571 2,307 244 
Residential mortgage-backed securities452 464 39 91 257 50 543 721 89 
Commercial mortgage-backed securities288 611 69 187 381 86 475 992 155 
Other asset-backed securities1,008 1,893 88 391 694 48 1,399 2,587 136 
Redeemable preferred securities13 18 2 2 5 — 15 23 2 
Total debt securities9,500 $14,228 $1,226 2,784 $4,264 $614 12,284 $18,492 $1,840 
The maturity dates for debt securities in an unrealized capital loss position at December 31, 2023 were as follows:
 Supporting experience-
rated products		Supporting remaining
products		Total
In millionsFair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Due to mature:      
Less than one year$15 $— $1,057 $16 $1,072 $16 
One year through five years128 3 4,504 226 4,632 229 
After five years through ten years87 7 1,925 172 2,012 179 
Greater than ten years137 14 2,090 220 2,227 234 
Residential mortgage-backed securities9 1 605 59 614 60 
Commercial mortgage-backed securities15 2 660 98 675 100 
Other asset-backed securities12 1 1,304 17 1,316 18 
Total$403 $28 $12,145 $808 $12,548 $836 
Schedule of Activity in Mortgage Loan Portfolio
The Company’s mortgage loans are collateralized by commercial real estate. During the years ended December 31, 2023 and 2022, the Company had the following activity in its mortgage loan portfolio:
In millions20232022
New mortgage loans$342 $356 
Mortgage loans fully repaid43 178 
Mortgage loans foreclosed— — 
At December 31, 2023 scheduled mortgage loan principal repayments were as follows:
In millions
2024$128 
2025123 
2026179 
2027229 
2028300 
Thereafter352 
Total$1,311 
Schedule of Mortgage Loan Amortized Cost and Credit Quality Indicator
Based upon the Company’s assessments at December 31, 2023 and 2022, the amortized cost basis of the Company’s mortgage loans within each credit quality indicator by year of origination was as follows:

Amortized Cost Basis by Year of Origination
In millions, except credit quality indicator20232022202120202019PriorTotal
December 31, 2023
1$— $— $— $— $— $11 $11 
2 to 4302 346 225 35 11 343 1,262 
5 and 6— — 13 — — 19 32 
7— — 6 — — — 6 
Total$302 $346 $244 $35 $11 $373 $1,311 
December 31, 2022
1$— $— $— $— $15 $15 
2 to 4326 247 36 11 402 1,022 
5 and 6— — — — 7 7 
7— — — — — — 
Total$326 $247 $36 $11 $424 $1,044 
Schedule of Net Investment Income
Sources of net investment income for the years ended December 31, 2023, 2022 and 2021 were as follows:
In millions202320222021
Debt securities$841 $702 $634 
Mortgage loans59 51 55 
Other investments796 448 381 
Gross investment income1,696 1,201 1,070 
Investment expenses(46)(43)(47)
Net investment income (excluding net realized capital gains or losses)1,650 1,158 1,023 
Net realized capital gains (losses) (1)
(497)(320)176 
Net investment income (2)
$1,153 $838 $1,199 
_____________________________________________
(1)Net realized capital losses include yield-related impairment losses on debt securities of $152 million and are net of the reversal of previously recorded credit-related impairment losses on debt securities of $3 million in the year ended December 31, 2023. Net realized capital losses include yield-related impairment losses on debt securities of $143 million and credit-related impairment losses on debt securities of $13 million in the year ended December 31, 2022. Net realized capital gains are net of yield-related impairment losses on debt securities of $42 million for the year ended December 31, 2021. There were no credit-related impairment losses on debt securities in the year ended December 31, 2021.
(2)Net investment income includes $34 million, $35 million and $38 million for the years ended December 31, 2023, 2022 and 2021, respectively, related to investments supporting experience-rated products.
Schedule of Proceeds and Related Gross Realized Capital Gains and Losses From the Sale of Debt Securities
Excluding amounts related to experience-rated products, proceeds from the sale of available-for-sale debt securities and the related gross realized capital gains and losses in the years ended December 31, 2023, 2022 and 2021 were as follows:
In millions202320222021
Proceeds from sales$5,031 $4,243 $3,572 
Gross realized capital gains9 24 72 
Gross realized capital losses420 177 14