XML 37 R26.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured on a recurring basis [Table Text Block]
The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis.
   
(at September 30, 2021, in millions)TotalLevel 1Level 2Level 3
Invested assets:    
Fixed maturities    
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$3,915 $3,915 $ $ 
Obligations of states, municipalities and political subdivisions
35,759 5 35,750 4 
Debt securities issued by foreign governments1,044  1,044  
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
1,815  1,734 81 
All other corporate bonds34,493 4 34,346 143 
Redeemable preferred stock14  14  
Total fixed maturities77,040 3,924 72,888 228 
Equity securities    
Public common stock467 467   
Non-redeemable preferred stock42 16 26  
Total equity securities509 483 26  
Other investments361 18  343 
Total$77,910 $4,425 $72,914 $571 
Other liabilities$4 $ $ $4 
 
(at December 31, 2020, in millions)TotalLevel 1Level 2Level 3
Invested assets:    
Fixed maturities    
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$2,149 $2,149 $— $— 
Obligations of states, municipalities and political subdivisions
36,360 — 36,349 11 
Debt securities issued by foreign governments1,054 — 1,054 — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
2,361 — 2,361 — 
All other corporate bonds32,054 — 31,899 155 
Redeemable preferred stock25 22 — 
Total fixed maturities74,003 2,152 71,685 166 
Equity securities    
Public common stock410 410 — — 
Non-redeemable preferred stock43 18 25 — 
Total equity securities453 428 25 — 
Other investments52 17 — 35 
Total$74,508 $2,597 $71,710 $201 
Other liabilities$$— $— $
Carrying value and fair value of the Company's financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized [Table Text Block]
The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized.
(at September 30, 2021, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$4,754 $4,754 $663 $4,040 $51 
Financial liabilities     
Debt$7,190 $9,131 $ $9,131 $ 
Commercial paper$100 $100 $ $100 $ 
 
(at December 31, 2020, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$5,511 $5,511 $630 $4,829 $52 
Financial liabilities     
Debt$6,450 $8,976 $— $8,976 $— 
Commercial paper$100 $100 $— $100 $—