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Pension Plans, Retirement Benefits and Savings Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Summary of the funded status, obligations and amounts recognized in the consolidated balance sheet for the Company's benefit plans [Table Text Block]
The following tables summarize the funded status, obligations and amounts recognized in the consolidated balance sheet for the Company’s benefit plans. The Company uses a December 31 measurement date for its pension and postretirement benefit plans.
(at and for the year ended December 31,  in millions)
 
Qualified Domestic
Pension Plan
 
Nonqualified and Foreign
Pension Plans
 
Total
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Change in projected benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
 
$
3,444

 
$
3,679

 
$
215

 
$
230

 
$
3,659

 
$
3,909

Benefits earned
 
112

 
126

 
6

 
7

 
118

 
133

Interest cost on benefit obligation
 
134

 
119

 
7

 
7

 
141

 
126

Actuarial (gain) loss
 
451

 
(273
)
 
19

 
(11
)
 
470

 
(284
)
Benefits paid
 
(187
)
 
(207
)
 
(11
)
 
(12
)
 
(198
)
 
(219
)
Foreign currency exchange rate change
 
—

 
—

 
5

 
(6
)
 
5

 
(6
)
Benefit obligation at end of year
 
$
3,954

 
$
3,444

 
$
241

 
$
215

 
$
4,195

 
$
3,659

Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
3,771

 
$
3,957

 
$
103

 
$
113

 
$
3,874

 
$
4,070

Actual return on plan assets
 
686

 
(179
)
 
10

 
(1
)
 
696

 
(180
)
Company contributions
 
—

 
200

 
8

 
10

 
8

 
210

Benefits paid
 
(187
)
 
(207
)
 
(11
)
 
(12
)
 
(198
)
 
(219
)
Foreign currency exchange rate change
 
—

 
—

 
5

 
(7
)
 
5

 
(7
)
Fair value of plan assets at end of year
 
4,270

 
3,771

 
115

 
103

 
4,385

 
3,874

Funded status of plan at end of year
 
$
316

 
$
327

 
$
(126
)
 
$
(112
)
 
$
190

 
$
215

Amounts recognized in the consolidated balance sheet consist of:
 
 
 
 
 
 
 
 
 
 
 
 
Accrued over-funded benefit plan assets
 
$
316

 
$
327

 
$
1

 
$
4

 
$
317

 
$
331

Accrued under-funded benefit plan liabilities
 
—

 
—

 
(127
)
 
(116
)
 
(127
)
 
(116
)
Total
 
$
316

 
$
327

 
$
(126
)
 
$
(112
)
 
$
190

 
$
215

Amounts recognized in accumulated other comprehensive income consist of:
 
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss
 
$
1,094

 
$
1,113

 
$
49

 
$
36

 
$
1,143

 
$
1,149

Prior service cost (benefit)
 
(3
)
 
(5
)
 
—

 
1

 
(3
)
 
(4
)
Total
 
$
1,091

 
$
1,108

 
$
49

 
$
37

 
$
1,140

 
$
1,145

 
 
Postretirement
Benefit Plans
(at and for the year ended December 31, in millions)
 
2019
 
2018
Change in projected benefit obligation:
 
 
 
 
Benefit obligation at beginning of year
 
$
203

 
$
225

Benefits earned
 
—

 
—

Interest cost on benefit obligation
 
7

 
7

Actuarial gain
 
(31
)
 
(18
)
Benefits paid
 
(9
)
 
(10
)
Foreign currency exchange rate change
 
1

 
(1
)
Benefit obligation at end of year
 
$
171

 
$
203

Change in plan assets:
 
 
 
 
Fair value of plan assets at beginning of year
 
$
12

 
$
13

Actual return on plan assets
 
1

 
—

Company contributions
 
8

 
9

Benefits paid
 
(9
)
 
(10
)
Fair value of plan assets at end of year
 
12

 
12

Funded status of plan at end of year
 
$
(159
)
 
$
(191
)
Amounts recognized in the consolidated balance sheet consist of:
 
 
 
 
Accrued under-funded benefit plan liability
 
$
(159
)
 
$
(191
)
Amounts recognized in accumulated other comprehensive income consist of:
 
 
 
 
Net actuarial gain
 
$
(49
)
 
$
(17
)
Prior service benefit
 
(21
)
 
(25
)
Total
 
$
(70
)
 
$
(42
)
Summary of the components of net periodic benefit cost and other amounts recognized in other comprehensive income related to the benefit plans [Table Text Block]
The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income related to the benefit plans.
 
 
Pension Plans
 
Postretirement Benefit
Plans
(for the year ended December 31, in millions)
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
118

 
$
133

 
$
119

 
$
—

 
$
—

 
$
—

Non-service cost:
 
 
 
 
 
 
 
 
 
 
 
 
Interest cost on benefit obligation
 
141

 
126

 
127

 
7

 
7

 
7

Expected return on plan assets
 
(275
)
 
(264
)
 
(240
)
 
(1
)
 
—

 
—

Settlement
 
—

 
—

 
3

 
—

 
—

 
—

Amortization of unrecognized:
 
 
 
 
 
 
 
 
 
 
 
 
Prior service benefit
 
(1
)
 
(1
)
 
(1
)
 
(3
)
 
(4
)
 
(4
)
Net actuarial loss
 
56

 
91

 
85

 
—

 
—

 
—

Total non-service cost (benefit)
 
(79
)
 
(48
)
 
(26
)
 
3

 
3

 
3

Net periodic benefit cost
 
39

 
85

 
93

 
3

 
3

 
3

Other Changes in Benefit Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
 
Prior service benefit
 
—

 
—

 
—

 
—

 
—

 
—

Net actuarial loss (gain)
 
49

 
160

 
40

 
(31
)
 
(18
)
 
13

Foreign currency exchange rate change
 
1

 
(1
)
 
2

 
—

 
—

 
(1
)
Settlement
 
—

 
—

 
(2
)
 
—

 
—

 
—

Amortization of prior service benefit
 
1

 
1

 
1

 
3

 
4

 
4

Amortization of net actuarial loss
 
(56
)
 
(91
)
 
(85
)
 
—

 
—

 
—

Total other changes recognized in other comprehensive income
 
(5
)
 
69

 
(44
)
 
(28
)
 
(14
)
 
16

Total other changes recognized in net periodic benefit cost and other comprehensive income
 
$
34

 
$
154

 
$
49

 
$
(25
)
 
$
(11
)
 
$
19
Consolidated statement of income line items impacted by service costs and non-service benefit costs [Table Text Block]
The following table indicates the line items in which the respective service costs and non-service cost (benefit) are presented in the consolidated statement of income for the years ended December 31, 2019, 2018 and 2017.
 
 
Pension Plans
 
Postretirement Benefit
Plans
(for the year ended December 31, in millions)
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Service Cost:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
$
1

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

Claims and claim adjustment expenses
 
48

 
54

 
48

 
—

 
—

 
—

General and administrative expenses
 
69

 
78

 
71

 
—

 
—

 
—

Total service cost
 
118

 
133

 
119

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Service Cost (Benefit):
 
 
 
 
 
 
 
 
 
 
 
 
Claims and claim adjustment expenses
 
(33
)
 
(19
)
 
(11
)
 
1

 
1

 
1

General and administrative expenses
 
(46
)
 
(29
)
 
(15
)
 
2

 
2

 
2

Total non-service cost (benefit)
 
(79
)
 
(48
)
 
(26
)
 
3

 
3


3

Net periodic benefit cost
 
$
39

 
$
85

 
$
93

 
$
3

 
$
3


$
3
Benefit obligations assumptions, net periodic benefit cost assumptions and health care cost trend rates [Table Text Block]
The following table summarizes assumptions used with regard to the Company’s qualified and nonqualified domestic pension plans and the domestic postretirement benefit plans.
(at and for the year ended December 31,)
 
2019
 
2018
Assumptions used to determine benefit obligations
 
 
 
 
Discount rate:
 
 
 
 
Qualified domestic pension plan
 
3.28
%
 
4.39
%
Nonqualified domestic pension plan
 
3.17
%
 
4.33
%
Domestic postretirement benefit plan
 
3.09
%
 
4.26
%
Cash balance interest crediting rate
 
4.01
%
 
4.01
%
Future compensation increase rate
 
4.00
%
 
4.00
%
Assumptions used to determine net periodic benefit cost
 
 
 
 
Discount rate:
 
 
 
 
Qualified domestic pension plan:
 
 
 
 
Service cost
 
4.57
%
 
3.87
%
Interest cost
 
4.02
%
 
3.34
%
Nonqualified domestic pension plan:
 
 
 
 
Service cost
 
4.40
%
 
3.73
%
Interest cost
 
3.95
%
 
3.26
%
Domestic postretirement benefit plan:
 
 
 
 
Interest cost
 
3.90
%
 
3.21
%
Expected long-term rate of return on assets:
 
 
 
 
Pension plan
 
7.00
%
 
7.00
%
Postretirement benefit plan
 
4.00
%
 
4.00
%
Assumed health care cost trend rates
 
 
 
 
Following year:
 
 
 
 
Medical (before age 65)
 
7.00
%
 
7.50
%
Medical (age 65 and older)
 
8.25
%
 
8.75
%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)
 
4.50
%
 
4.50
%
Year that the rate reaches the ultimate trend rate:
 
 
 
 
Medical (before age 65)
 
2026

 
2026

Medical (age 65 and older)
 
2026

 
2026
Level within the fair value hierarchy at which the financial assets of the Company's pension plans are measured [Table Text Block]
The following tables present the level within the fair value hierarchy at which the financial assets of the Company’s pension plans are measured on a recurring basis.
(at December 31, 2019, in millions)
 
Total
 
Level 1
 
Level 2
 
Level 3
Invested assets:
 
 
 
 
 
 
 
 
Fixed maturities
 
 
 
 
 
 
 
 
Obligations of states, municipalities and political subdivisions
 
$
3

 
$
—

 
$
3

 
$
—

Debt securities issued by foreign governments
 
30

 
—

 
30

 
—

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
 
30

 
—

 
30

 
—

All other corporate bonds
 
715

 
—

 
715

 
—

Total fixed maturities
 
778

 
—

 
778

 
—

Mutual funds
 
 
 
 
 
 
 
 
Equity mutual funds
 
1,585

 
1,578

 
7

 
—

Bond mutual funds
 
869

 
866

 
3

 
—

Total mutual funds
 
2,454

 
2,444

 
10

 
—

Equity securities
 
1,018

 
1,017

 
1

 
—

Other investments
 
2

 
—

 
—

 
2

Cash and short-term securities
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
20

 
20

 
—

 
—

Money market mutual funds
 
27

 
27

 
—

 
—

Other
 
86

 
17

 
69

 
—

Total cash and short-term securities
 
133

 
64

 
69

 
—

Total
 
$
4,385

 
$
3,525

 
$
858

 
$
2



(at December 31, 2018, in millions)
 
Total
 
Level 1
 
Level 2
 
Level 3
Invested assets:
 
 
 
 
 
 
 
 
Fixed maturities
 
 
 
 
 
 
 
 
Obligations of states, municipalities and political subdivisions
 
$
3

 
$
—

 
$
3

 
$
—

Debt securities issued by foreign governments
 
27

 
—

 
27

 
—

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
 
30

 
—

 
30

 
—

All other corporate bonds
 
712

 
—

 
712

 
—

Total fixed maturities
 
772

 
—

 
772

 
—

Mutual funds
 
 
 
 
 
 
 
 
Equity mutual funds
 
1,288

 
1,282

 
6

 
—

Bond mutual funds
 
760

 
757

 
3

 
—

Total mutual funds
 
2,048

 
2,039

 
9

 
—

Equity securities
 
783

 
783

 
—

 
—

Other investments
 
1

 
—

 
—

 
1

Cash and short-term securities
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
30

 
30

 
—

 
—

Money market mutual funds
 
—

 
—

 
—

 
—

Other
 
240

 
19

 
221

 
—

Total cash and short-term securities
 
270

 
49

 
221

 
—

Total
 
$
3,874

 
$
2,871

 
$
1,002

 
$
1
Estimated future benefit payments [Table Text Block]
The following table presents the estimated benefits expected to be paid by the Company’s pension and postretirement benefit plans for the next ten years (reflecting estimated future employee service).
 
 
Benefits Expected to be Paid
(in millions)
 
Pension Plans
 
Postretirement Benefit Plans
2020
 
$
250

 
$
12

2021
 
261

 
12

2022
 
265

 
12

2023
 
273

 
12

2024
 
276

 
12

2025 through 2029
 
1,400

 
55