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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
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, 2023, 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
$6,212 $6,212 $ $ 
Obligations of U.S. states, municipalities and political subdivisions26,238  26,238  
Debt securities issued by foreign governments982  982  
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
6,523  6,523  
Corporate and all other bonds32,629  32,377 252 
Total fixed maturities72,584 6,212 66,120 252 
Equity securities    
Common stock527 520  7 
Non-redeemable preferred stock46 14 3 29 
Total equity securities573 534 3 36 
Other investments16 16   
Total$73,173 $6,762 $66,123 $288 
(at December 31, 2022, 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
$5,438 $5,438 $— $— 
Obligations of U.S. states, municipalities and political subdivisions31,379 — 31,379 — 
Debt securities issued by foreign governments994 — 994 — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
1,991 — 1,991 — 
Corporate and all other bonds31,358 — 31,055 303 
Total fixed maturities71,160 5,438 65,419 303 
Equity securities    
Common stock763 418 — 345 
Non-redeemable preferred stock44 15 26 
Total equity securities807 433 371 
Other investments16 15 — 
Total$71,983 $5,886 $65,422 $675 
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, 2023, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$4,488 $4,488 $971 $3,466 $51 
Financial liabilities     
Debt$7,931 $6,900 $ $6,900 $ 
Commercial paper100 100  100  
(at December 31, 2022, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$3,470 $3,470 $871 $2,546 $53 
Financial liabilities     
Debt$7,192 $6,509 $— $6,509 $— 
Commercial paper100 100 — 100 —