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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $39,473 and $40,078, and ACL of $12 and $0) $ 40,205 $ 42,148
Fixed maturities, at fair value using the fair value option 8 11
Equity securities, at fair value 1,155 1,657
Mortgage loans (net of ACL of $21 and $0) 4,353 4,215
Limited partnerships and other alternative investments 1,839 1,758
Other investments 294 320
Short-term investments 2,505 2,921
Total investments 50,359 53,030
Cash 211 185
Restricted cash 90 77
Premiums receivable and agents' balances (net of ACL of $139 and $145) 4,558 4,384
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $117 and $114) 5,596 5,527
Deferred policy acquisition costs 818 785
Deferred income taxes, net 502 299
Goodwill 1,913 1,913
Property and equipment, net 1,161 1,181
Other intangible assets, net 1,028 1,070
Other assets 2,488 2,366
Total assets 68,724 70,817
Liabilities    
Unpaid losses and loss adjustment expenses 36,582 36,517
Reserve for future policy benefits 629 635
Other policyholder funds and benefits payable 758 755
Unearned premiums 6,810 6,635
Short-term debt 0 500
Long-term debt 4,349 4,348
Other liabilities 4,330 5,157
Total liabilities 53,458 54,547
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at March 31, 2020 and December 31, 2019, aggregate liquidation preference of $345 334 334
Common stock, $0.01 par value — 1,500,000,000 shares authorized, 384,923,222 shares issued at March 31, 2020 and December 31, 2019 4 4
Additional paid-in capital 4,286 4,312
Retained earnings 12,819 12,685
Treasury stock, at cost — 26,988,876 and 25,352,977 shares (1,220) (1,117)
Accumulated other comprehensive income (loss), net of tax (957) 52
Total stockholders’ equity 15,266 16,270
Total liabilities and stockholders’ equity $ 68,724 $ 70,817