Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Componenets of income taxes

(In millions)	2017		2016		2015
Current taxes
U.S. income taxes	$	974	$	935	$	1,076
Foreign income taxes		122		95		93
State income taxes		36		32		60
Total current taxes		1,132		1,062		1,229
Deferred taxes (benefits)
U.S. income taxes		204		69		22
Foreign income taxes (benefits)		39		9		(6)
State income taxes (benefits)		(1)		(4)		5
Total deferred taxes		242		74		21
Total income taxes	$	1,374	$	1,136	$	1,250

Reconciliation of total income taxes to the amount computed using the nominal federal income tax rate

(In millions)	2017		2016		2015
Tax expense at nominal rate	$	1,262	$	1,043	$	1,164
Effect of U.S. tax reform legislation		232		-		-
Effect of undistributed foreign earnings		(70)		(57)		(67)
Health insurance industry tax		-		108		109
State income tax (net of federal income tax benefit)		23		18		42
Other		(73)		24		2
Total income taxes	$	1,374	$	1,136	$	1,250

Deferred income tax assets and liabilities

(In millions)	2017		2016
Deferred tax assets
Employee and retiree benefit plans	$	279	$	481
Other insurance and contractholder liabilities		352		460
Net operating losses		105		128
Other accrued liabilities		101		166
Other		91		140
Deferred tax assets before valuation allowance		928		1,375
Valuation allowance for deferred tax assets		(72)		(87)
Deferred tax assets, net of valuation allowance		856		1,288
Deferred tax liabilities
Depreciation and amortization		496		781
Unrealized appreciation on investments and foreign currency translation		102		149
Other		225		54
Total deferred tax liabilities		823		984
Net deferred income tax assets	$	33	$	304

Reconciliation of unrecognized tax benefits

(In millions)	2017		2016		2015
Balance at January 1,	$	31	$	31	$	26
Increase due to current year positions		7		10		7
Reduction related to settlements with taxing authorities		(1)		(2)		-
Reduction related to lapse of applicable statute of limitations		(2)		(8)		(2)
Balance at December 31,	$	35	$	31	$	31