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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $40,411 and $39,533, and ACL of $18 and $12) $ 37,497 $ 36,231
Fixed maturities, at fair value using the fair value option ("FVO") 320 333
Equity securities, at fair value 895 1,801
Mortgage loans (net of ACL of $41 and $36) 6,020 6,000
Limited partnerships and other alternative investments 4,527 4,177
Other investments 173 159
Short-term investments 3,236 3,859
Total investments 52,668 52,560
Cash 150 229
Restricted cash 72 115
Premiums receivable and agents' balances (net of ACL of $119 and $109) 5,578 4,949
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $110 and $105) 6,912 6,964
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $110 and $105) 110 105
Deferred policy acquisition costs 1,096 998
Deferred income taxes, net 1,342 1,437
Goodwill 1,911 1,911
Property and equipment, net 884 927
Other intangible assets, net 743 778
Other assets 2,539 2,140
Total assets 73,895 73,008
Liabilities    
Unpaid losses and loss adjustment expenses 41,219 41,243
Other policyholder funds and benefits payable 647 658
Unearned premiums 8,589 7,815
Long-term debt 4,360 4,357
Other liabilities 4,439 4,757
Total liabilities 59,743 59,332
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at June 30, 2023 and December 31, 2022, aggregate liquidation preference of $345 334 334
Common Stock, Value, Issued 3 3
Additional paid-in capital 1,864 1,895
Retained earnings 17,865 17,058
Treasury Stock, Value (2,390) (1,773)
Accumulated other comprehensive income (loss) ("AOCI"), net of tax (3,524) (3,841)
Total stockholders’ equity 14,152 13,676
Total liabilities and stockholders’ equity $ 73,895 $ 73,008