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

6 Months Ended

Jun. 30, 2023

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 and six months ended June 30, 2023.

	Changes in Net Unrealized Gains (Losses) on Investment Securities
(in millions)	Having No Credit Losses Recognized in the Consolidated Statement of Income (Loss)		Having Credit  Losses Recognized  in the Consolidated Statement of  Income (Loss)		Net Benefit Plan Assets and Obligations Recognized in Shareholders’ Equity		Net Unrealized Foreign Currency Translation		Total Accumulated Other Comprehensive Income (Loss)
Balance, March 31, 2023	$	(4,047)	$	179	$	(544)	$	(974)	$	(5,386)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(725)		—		(2)		89		(638)
Amounts reclassified from AOCI, net of tax	17		—		(2)		—		15
Net OCI, current period	(708)		—		(4)		89		(623)
Balance, June 30, 2023	$	(4,755)	$	179	$	(548)	$	(885)	$	(6,009)

	Changes in Net Unrealized Gains (Losses) on Investment Securities
(in millions)	Having No Credit Losses Recognized in the Consolidated Statement of Income (Loss)		Having Credit  Losses Recognized  in the Consolidated Statement of  Income (Loss)		Net Benefit Plan Assets and Obligations Recognized in Shareholders’  Equity		Net Unrealized Foreign Currency Translation		Total Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2022	$	(5,077)	$	179	$	(542)	$	(1,005)	$	(6,445)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	296		—		(1)		120		415
Amounts reclassified from AOCI, net of tax	26		—		(5)		—		21
Net OCI, current period	322		—		(6)		120		436
Balance, June 30, 2023	$	(4,755)	$	179	$	(548)	$	(885)	$	(6,009)

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 June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Changes in net unrealized gains (losses) on investment securities:
Having no credit losses recognized in the consolidated statement of income (loss)	$	(903)	$	(3,045)	$	405	$	(7,874)
Income tax expense (benefit)	(195)		(646)		83		(1,670)
Net of taxes	(708)		(2,399)		322		(6,204)
Having credit losses recognized in the consolidated statement of income (loss)	—		(2)		—		(3)
Income tax benefit	—		—		—		—
Net of taxes	—		(2)		—		(3)
Net changes in benefit plan assets and obligations	(4)		11		(7)		22
Income tax expense (benefit)	—		2		(1)		4
Net of taxes	(4)		9		(6)		18
Net changes in unrealized foreign currency translation	94		(174)		131		(172)
Income tax expense (benefit)	5		(13)		11		(13)
Net of taxes	89		(161)		120		(159)
Total other comprehensive income (loss)	(813)		(3,210)		529		(8,027)
Total income tax expense (benefit)	(190)		(657)		93		(1,679)
Total other comprehensive income (loss), net of taxes	$	(623)	$	(2,553)	$	436	$	(6,348)

Pre-tax and related income tax (expense) benefit components of the amounts reclassified from AOCI to the consolidated statement of income (loss) [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 (loss).

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Reclassification adjustments related to unrealized gains (losses) on investment securities:
Having no credit losses recognized in the consolidated statement of income (loss) (1)	$	22	$	21	$	33	$	19
Income tax benefit (2)	5		5		7		4
Net of taxes	17		16		26		15
Having credit losses recognized in the consolidated statement of income (loss) (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Reclassification adjustment related to benefit plan assets and obligations:
Claims and claim adjustment expenses (benefit) (3)	(1)		4		(2)		8
General and administrative expenses (benefit) (3)	(2)		7		(4)		13
Total	(3)		11		(6)		21
Income tax expense (benefit) (2)	(1)		3		(1)		5
Net of taxes	(2)		8		(5)		16
Reclassification adjustment related to foreign currency translation (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Total reclassifications	19		32		27		40
Total income tax benefit	4		8		6		9
Total reclassifications, net of taxes	$	15	$	24	$	21	$	31

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

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

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