Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2021

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

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

The following table presents the changes in the Company’s accumulated other comprehensive income (AOCI) for the three months ended March 31, 2021.

	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, 2020	$	3,892	$	182	$	(832)	$	(740)	$	2,502
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(1,246)		—		—		26		(1,220)
Amounts reclassified from AOCI, net of tax	(11)		—		20		—		9
Net OCI, current period	(1,257)		—		20		26		(1,211)
Balance, March 31, 2021	$	2,635	$	182	$	(812)	$	(714)	$	1,291

Pre-tax components of other comprehensive 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 loss and the related income tax expense (benefit).

	Three Months Ended March 31,
(in millions)	2021		2020
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(1,596)	$	(575)
Income tax benefit	(339)		(118)
Net of taxes	(1,257)		(457)
Having credit losses recognized in the consolidated statement of income	—		(6)
Income tax benefit	—		(2)
Net of taxes	—		(4)
Net changes in benefit plan assets and obligations	25		23
Income tax expense	5		5
Net of taxes	20		18
Net changes in unrealized foreign currency translation	26		(268)
Income tax benefit	—		(22)
Net of taxes	26		(246)
Total other comprehensive loss	(1,545)		(826)
Total income tax benefit	(334)		(137)
Total other comprehensive loss, net of taxes	$	(1,211)	$	(689)

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 March 31,
(in millions)	2021		2020
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(14)	$	2
Income tax expense (2)	(3)		—
Net of taxes	(11)		2
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)	10		9
General and administrative expenses (3)	15		12
Total	25		21
Income tax benefit (2)	5		4
Net of taxes	20		17
Reclassification adjustment related to foreign currency translation (1)	—		—
Income tax benefit (2)	—		—
Net of taxes	—		—
Total reclassifications	11		23
Total income tax benefit	2		4
Total reclassifications, net of taxes	$	9	$	19

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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.