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

3 Months Ended

Mar. 31, 2024

Other Comprehensive Income And Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes in accumulated other comprehensive income (loss) (AOCI) [Table Text Block]

The following table presents the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) for the three months ended March 31, 2024.

	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, 2023	$	(3,309)	$	180	$	(458)	$	(884)	$	(4,471)
Other comprehensive income (loss) (OCI) before reclassifications, net of tax	(626)		2		—		(67)		(691)
Amounts reclassified from AOCI, net of tax	32		—		(1)		—		31
Net OCI, current period	(594)		2		(1)		(67)		(660)
Balance, March 31, 2024	$	(3,903)	$	182	$	(459)	$	(951)	$	(5,131)

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 March 31,
(in millions)	2024		2023
Changes in net unrealized losses on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(752)	$	1,308
Income tax expense (benefit)	(158)		278
Net of taxes	(594)		1,030
Having credit losses recognized in the consolidated statement of income	2		—
Income tax expense	—		—
Net of taxes	2		—
Net changes in benefit plan assets and obligations	(1)		(3)
Income tax expense (benefit)	—		(1)
Net of taxes	(1)		(2)
Net changes in unrealized foreign currency translation	(71)		37
Income tax expense (benefit)	(4)		6
Net of taxes	(67)		31
Total other comprehensive income (loss)	(822)		1,342
Total income tax expense (benefit)	(162)		283
Total other comprehensive income (loss), net of taxes	$	(660)	$	1,059

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 March 31,
(in millions)	2024		2023
Reclassification adjustments related to unrealized gains (losses) on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	40	$	11
Income tax benefit (2)	8		2
Net of taxes	32		9
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)	—		(1)
General and administrative expenses (benefit) (3)	(1)		(2)
Total	(1)		(3)
Income tax (expense) benefit (2)	—		—
Net of taxes	(1)		(3)
Reclassification adjustment related to foreign currency translation (1)	—		—
Income tax benefit (2)	—		—
Net of taxes	—		—
Total reclassifications	39		8
Total income tax benefit	8		2
Total reclassifications, net of taxes	$	31	$	6

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(1)(Increases) decreases net realized investment gains 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.