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

9 Months Ended

Sep. 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 nine months ended September 30, 2023.

	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, 2023	$	(4,755)	$	179	$	(548)	$	(885)	$	(6,009)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(1,918)		—		1		(111)		(2,028)
Amounts reclassified from AOCI, net of tax	28		—		(3)		—		25
Net OCI, current period	(1,890)		—		(2)		(111)		(2,003)
Balance, September 30, 2023	$	(6,645)	$	179	$	(550)	$	(996)	$	(8,012)

	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, 2022	$	(5,077)	$	179	$	(542)	$	(1,005)	$	(6,445)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(1,622)		—		—		9		(1,613)
Amounts reclassified from AOCI, net of tax	54		—		(8)		—		46
Net OCI, current period	(1,568)		—		(8)		9		(1,567)
Balance, September 30, 2023	$	(6,645)	$	179	$	(550)	$	(996)	$	(8,012)

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 September 30,				Nine Months Ended September 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	$	(2,391)	$	(3,204)	$	(1,986)	$	(11,078)
Income tax benefit	(501)		(678)		(418)		(2,348)
Net of taxes	(1,890)		(2,526)		(1,568)		(8,730)
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	(3)		12		(10)		34
Income tax expense (benefit)	(1)		3		(2)		7
Net of taxes	(2)		9		(8)		27
Net changes in unrealized foreign currency translation	(118)		(251)		13		(423)
Income tax expense (benefit)	(7)		(14)		4		(27)
Net of taxes	(111)		(237)		9		(396)
Total other comprehensive loss	(2,512)		(3,443)		(1,983)		(11,470)
Total income tax benefit	(509)		(690)		(416)		(2,369)
Total other comprehensive loss, net of taxes	$	(2,003)	$	(2,753)	$	(1,567)	$	(9,101)

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)	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 (1)	$	35	$	42	$	68	$	61
Income tax benefit (2)	7		9		14		13
Net of taxes	28		33		54		48
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 (benefit) (3)	(2)		5		(4)		13
General and administrative expenses (benefit) (3)	(2)		5		(6)		18
Total	(4)		10		(10)		31
Income tax (expense) benefit (2)	(1)		1		(2)		6
Net of taxes	(3)		9		(8)		25
Reclassification adjustment related to foreign currency translation (1)	—		—		—		—
Income tax benefit (2)	—		—		—		—
Net of taxes	—		—		—		—
Total reclassifications	31		52		58		92
Total income tax benefit	6		10		12		19
Total reclassifications, net of taxes	$	25	$	42	$	46	$	73

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

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

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