Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Other Comprehensive Income And Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes in accumulated other comprehensive income (loss) (AOCI) [Table Text Block]

The following tables present the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) for the three months and nine months ended September 30, 2020.

	Changes in Net Unrealized Gains on Investment Securities
(in millions)	Having No Credit Losses Recognized in the Consolidated Statement of Income		Having Credit  Losses Recognized  in the Consolidated Statement of  Income		Net Benefit Plan Assets and Obligations Recognized in Shareholders’  Equity		Net Unrealized Foreign Currency Translation		Total Accumulated Other Comprehensive Income
Balance, June 30, 2020	$	3,459	$	187	$	(811)	$	(953)	$	1,882
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	189		(5)		—		74		258
Amounts reclassified from AOCI, net of tax	(18)		—		16		—		(2)
Net OCI, current period	171		(5)		16		74		256
Balance, September 30, 2020	$	3,630	$	182	$	(795)	$	(879)	$	2,138

	Changes in Net Unrealized Gains on Investment Securities
(in millions)	Having No Credit Losses Recognized in the Consolidated Statement of Income		Having Credit  Losses Recognized  in the Consolidated Statement of  Income		Net Benefit Plan Assets and Obligations Recognized in Shareholders’ Equity		Net Unrealized Foreign Currency Translation		Total Accumulated Other Comprehensive Income
Balance, December 31, 2019	$	2,057	$	189	$	(846)	$	(760)	$	640
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	1,597		(7)		1		(119)		1,472
Amounts reclassified from AOCI, net of tax	(24)		—		50		—		26
Net OCI, current period	1,573		(7)		51		(119)		1,498
Balance, September 30, 2020	$	3,630	$	182	$	(795)	$	(879)	$	2,138

Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit) for each component [Table Text Block]

The following table presents the pre-tax components of the Company’s other comprehensive income and the related income tax expense.

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2020		2019		2020		2019
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	217	$	605	$	2,001	$	3,129
Income tax expense	46		127		428		661
Net of taxes	171		478		1,573		2,468
Having credit losses recognized in the consolidated statement of income	(7)		(3)		(10)		(2)
Income tax benefit	(2)		(1)		(3)		(1)
Net of taxes	(5)		(2)		(7)		(1)
Net changes in benefit plan assets and obligations	20		14		64		40
Income tax expense	4		3		13		8
Net of taxes	16		11		51		32
Net changes in unrealized foreign currency translation	79		(75)		(137)		(20)
Income tax expense (benefit)	5		(7)		(18)		(5)
Net of taxes	74		(68)		(119)		(15)
Total other comprehensive income	309		541		1,918		3,147
Total income tax expense	53		122		420		663
Total other comprehensive income, net of taxes	$	256	$	419	$	1,498	$	2,484

Pre-tax and related income tax (expense) benefit components of the amounts reclassified from accumulated other comprehensive income to the consolidated statement of income [Table Text Block]

The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income.

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2020		2019		2020		2019
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(23)	$	(14)	$	(31)	$	(43)
Income tax expense (2)	(5)		(3)		(7)		(9)
Net of taxes	(18)		(11)		(24)		(34)
Having credit losses recognized in the consolidated statement of income (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Reclassification adjustment related to benefit plan assets and obligations:
Claims and claim adjustment expenses (3)	8		4		26		15
General and administrative expenses (3)	12		8		37		23
Total	20		12		63		38
Income tax benefit (2)	4		3		13		8
Net of taxes	16		9		50		30
Reclassification adjustment related to foreign currency translation (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Total reclassifications	(3)		(2)		32		(5)
Total income tax (expense) benefit	(1)		—		6		(1)
Total reclassifications, net of taxes	$	(2)	$	(2)	$	26	$	(4)

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(1)   (Increases) decreases net realized investment gains (losses) on the consolidated statement of income.

(2)   (Increases) decreases income tax expense on the consolidated statement of income.

(3)    Increases (decreases) expenses on the consolidated statement of income.