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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $42,946 and $41,726, and ACL of $18 and $21) $ 40,840 $ 39,818
Fixed maturities, at fair value using the fair value option ("FVO Securities") 292 327
Equity securities, at fair value [1] 736 864
Mortgage loans (net of ACL of $48 and $51) 6,197 6,087
Limited partnerships and other alternative investments 4,866 4,785
Other investments 201 191
Short-term investments 2,975 3,850
Total investments 56,107 55,922
Cash 274 126
Restricted cash 48 63
Accrued Investment Income Receivable 415 404
Premiums receivable and agents' balances (net of ACL of $111 and $109) 5,988 5,607
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $101 and $103) 7,094 7,104
Deferred policy acquisition costs 1,169 1,113
Deferred income taxes, net 1,182 1,173
Goodwill 1,911 1,911
Property and equipment, net 879 896
Other intangible assets, net 690 707
Other assets 1,953 1,754
Total assets 77,710 76,780
Liabilities    
Unpaid losses and loss adjustment expenses 42,771 42,318
Other policyholder funds and benefits payable 633 638
Unearned premiums 9,020 8,599
Long-term debt 4,363 4,362
Other liabilities 4,976 5,052
Total liabilities 62,242 61,453
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at March 31, 2024 and December 31, 2023, aggregate liquidation preference of $345 $ 334 $ 334
Common Stock, Shares, Issued 326,960,228 326,960,228
Common Stock, Value, Issued $ 3 $ 3
Additional paid-in capital 551 648
Retained earnings 19,614 19,007
Treasury Stock, Value (2,037) (1,816)
Accumulated other comprehensive income (loss) ("AOCI"), net of tax (2,997) (2,849)
Total stockholders’ equity 15,468 15,327
Total liabilities and stockholders’ equity $ 77,710 $ 76,780