Equity (Tables)

12 Months Ended

Dec. 31, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Stock by Class [Table Text Block]

The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2018	79,137,758	16,323,390	62,814,368
Common Stock acquired	—	546,614	(546,614)
Stock-based compensation (1)	—	(388,348)	388,348
Balance, December 31, 2019	79,137,758	16,481,656	62,656,102
Equity offering	6,172,840	—	6,172,840
Common Stock acquired	—	1,074,413	(1,074,413)
Stock-based compensation (1)	—	(202,372)	202,372
Balance, December 31, 2020	85,310,598	17,353,697	67,956,901
Common Stock acquired	—	852,037	(852,037)
Stock-based compensation (1)	—	(65,866)	65,866
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730

(1)Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Class of Treasury Stock [Table Text Block]

The following table summarizes the Company’s current share repurchase program activity under the 2019 share repurchase program for the years ended December 31, 2021 and 2020 (dollar amounts in millions, except for the number of shares and per share amounts):

Year of Repurchase	Shares Repurchased	Amount Paid		Average Per Share
2021	852,037	$	96	$	112.64
2020	1,074,413	$	153	$	142.05

Schedule of Comprehensive Income (Loss) [Table Text Block]

Other Comprehensive Income (Loss)

The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2021, 2020 and 2019 (dollars in millions):

For the year ended December 31, 2021:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	85	$	(24)	$	61
Foreign currency swap	(2)		1		(1)
Net foreign currency translation adjustments	83		(23)		60
Unrealized gains on investments:(1)
Unrealized net holding losses arising during the year	(2,093)		471		(1,622)
Less: Reclassification adjustment for net gains realized in net income	226		(49)		177
Net unrealized gains	(2,319)		520		(1,799)
Change in impairments on fixed maturity securities	—		—		—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	2		—		2
Net gain (loss) arising during the period	27		(7)		20
Unrealized pension and postretirement benefits, net	29		(7)		22
Other comprehensive income (loss)	$	(2,207)	$	490	$	(1,717)

For the year ended December 31, 2020:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	43	$	3	$	46
Foreign currency swap	(29)		6		(23)
Net foreign currency translation adjustments	14		9		23
Unrealized gains on investments:(1)
Unrealized net holding gains arising during the year	2,812		(614)		2,198
Less: Reclassification adjustment for net gains realized in net income	(8)		(1)		(9)
Net unrealized gains	2,820		(613)		2,207
Change in impairments on fixed maturity securities	(8)		2		(6)
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1)		—		(1)
Net gain (loss) arising during the period	(2)		1		(1)
Unrealized pension and postretirement benefits, net	(3)		1		(2)
Other comprehensive income (loss)	$	2,823	$	(601)	$	2,222

For the year ended December 31, 2019:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	113	$	(10)	$	103
Foreign currency swap	(33)		7		(26)
Net foreign currency translation adjustments	80		(3)		77
Unrealized gains on investments:(1)
Unrealized net holding gains arising during the year	3,208		(698)		2,510
Less: Reclassification adjustment for net gains realized in net income	84		(17)		67
Net unrealized gains	3,124		(681)		2,443
Change in impairments on fixed maturity securities	—		—		—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1)		—		(1)
Net gain arising during the period	(23)		5		(18)
Unrealized pension and postretirement benefits, net	(24)		5		(19)
Other comprehensive income (loss)	$	3,180	$	(679)	$	2,501

(1)Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Components Of Accumulated Other Comprehensive Income [Table Text Block]

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):

For the years ended December 31,	2021		2020		2019
Change in net unrealized appreciation (depreciation) on:
Fixed maturity securities available-for-sale	$	(2,299)	$	2,837	$	3,258
Other investments(1)	(64)		29		(37)
Effect on unrealized appreciation on:
Deferred policy acquisition costs	44		(54)		(98)
Net unrealized appreciation (depreciation)	$	(2,319)	$	2,812	$	3,123

(1)Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The balance of and changes in each component of AOCI were as follows (dollars in millions):

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments (1)		Pension and Postretirement Benefits		Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2018	(169)		856		(51)		636
OCI before reclassifications	80		3,306		(28)		3,358
Amounts reclassified from AOCI	—		(182)		4		(178)
Deferred income tax benefit (expense)	(3)		(681)		5		(679)
Balance, December 31, 2019	(92)		3,299		(70)		3,137
OCI before reclassifications	14		2,854		(9)		2,859
Amounts reclassified from AOCI	—		(42)		6		(36)
Deferred income tax benefit (expense)	9		(611)		1		(601)
Balance, December 31, 2020	$	(69)	$	5,500	$	(72)	$	5,359
OCI before reclassifications	83		(2,144)		22		(2,039)
Amounts reclassified from AOCI	—		(175)		7		(168)
Deferred income tax benefit (expense)	(23)		520		(7)		490
Balance, December 31, 2021	$	(9)	$	3,701	$	(50)	$	3,642

(1)Includes cash flow hedges of $(22), $(49) and $(26) as of December 31, 2021, 2020 and 2019, respectively. See Note 5 for additional information on cash flow hedges.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2021 and 2020 (dollars in millions):

	Amount Reclassified from AOCI
Details about AOCI Components	2021		2020		Affected Line Item in  Statement of Income
Net unrealized investment gains (losses):
Net unrealized gains and losses on available-for-sale securities	$	226	$	(8)	Investment related gains (losses), net
Cash flow hedges – Interest rate	(7)		(4)		(1)
Cash flow hedges – Currency/Interest rate	—		—		(1)
Cash flow hedges – Forward bond purchase commitments	—		—		(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	(44)		54		(2)
Total	175		42
Provision for income taxes	(38)		(12)
Net unrealized gains (losses), net of tax	$	137	$	30
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	(3)
Actuarial gains (losses)	(8)		(7)		(3)
Total	(7)		(6)
Provision for income taxes	1		1
Amortization of defined benefit plans, net of tax	$	(6)	$	(5)
Total reclassifications for the period	$	131	$	25

(1)See Note 5 for information on cash flow hedges.

(2)See Note 8 for information on deferred policy acquisition costs.

(3)See Note 10 for information on employee benefit plans.