Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022.

	Changes in Net Unrealized Gains (Losses) 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 (Loss)
Balance, June 30, 2022	$	(3,971)	$	179	$	(455)	$	(908)	$	(5,155)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(2,559)		1		—		(237)		(2,795)
Amounts reclassified from AOCI, net of tax	33		—		9		—		42
Net OCI, current period	(2,526)		1		9		(237)		(2,753)
Balance, September 30, 2022	$	(6,497)	$	180	$	(446)	$	(1,145)	$	(7,908)

	Changes in Net Unrealized Gains (Losses) 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 (Loss)
Balance, December 31, 2021	$	2,233	$	182	$	(473)	$	(749)	$	1,193
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(8,778)		(2)		2		(396)		(9,174)
Amounts reclassified from AOCI, net of tax	48		—		25		—		73
Net OCI, current period	(8,730)		(2)		27		(396)		(9,101)
Balance, September 30, 2022	$	(6,497)	$	180	$	(446)	$	(1,145)	$	(7,908)

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 (loss) and the related income tax expense (benefit).

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2021		2022		2021
Changes in net unrealized gains (losses) on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(3,204)	$	(686)	$	(11,078)	$	(1,749)
Income tax benefit	(678)		(146)		(2,348)		(374)
Net of taxes	(2,526)		(540)		(8,730)		(1,375)
Having credit losses recognized in the consolidated statement of income	—		—		(3)		—
Income tax benefit	(1)		—		(1)		—
Net of taxes	1		—		(2)		—
Net changes in benefit plan assets and obligations	12		26		34		77
Income tax expense	3		5		7		16
Net of taxes	9		21		27		61
Net changes in unrealized foreign currency translation	(251)		(91)		(423)		(25)
Income tax benefit	(14)		(7)		(27)		(3)
Net of taxes	(237)		(84)		(396)		(22)
Total other comprehensive loss	(3,443)		(751)		(11,470)		(1,697)
Total income tax benefit	(690)		(148)		(2,369)		(361)
Total other comprehensive loss, net of taxes	$	(2,753)	$	(603)	$	(9,101)	$	(1,336)

Pre-tax and related income tax (expense) benefit components of the amounts reclassified from AOCI 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)	2022		2021		2022		2021
Reclassification adjustments related to unrealized gains (losses) on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	42	$	(12)	$	61	$	(50)
Income tax (expense) benefit (2)	9		(2)		13		(10)
Net of taxes	33		(10)		48		(40)
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)	5		10		13		31
General and administrative expenses (3)	5		16		18		46
Total	10		26		31		77
Income tax benefit (2)	1		5		6		16
Net of taxes	9		21		25		61
Reclassification adjustment related to foreign currency translation (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Total reclassifications	52		14		92		27
Total income tax benefit	10		3		19		6
Total reclassifications, net of taxes	$	42	$	11	$	73	$	21

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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.