Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [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, 2022	85,310,598	18,634,390	66,676,208
Common stock acquired	—	722,774	(722,774)
Stock-based compensation (1)	—	(258,365)	258,365
Balance, June 30, 2023	85,310,598	19,098,799	66,211,799

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730
Common Stock acquired	—	219,116	(219,116)
Stock-based compensation (1)	—	(55,654)	55,654
Balance, June 30, 2022	85,310,598	18,303,330	67,007,268

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

Components of Accumulated Other Comprehensive Income

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2023 and 2022 are as follows (dollars in millions):

	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Foreign Currency Translation Adjustments		Net Unrealized Investment Gains (Losses)(1)		Pension and Postretirement Benefits		Effect of Updating Discount Rates on Future Policy Benefits		Instrument-Specific Credit Risk for Market Risk Benefits		Total
Balance, December 31, 2022	$	(116)	$	(5,496)	$	(27)	$	3,755	$	13	$	(1,871)
Other comprehensive income (loss) before reclassifications	169		687		11		(377)		—		490
Amounts reclassified to (from) AOCI	—		99		—		—		—		99
Deferred income tax benefit (expense)	(27)		(169)		(2)		82		—		(116)
Balance, June 30, 2023	$	26	$	(4,879)	$	(18)	$	3,460	$	13	$	(1,398)

	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Foreign Currency Translation Adjustments		Net Unrealized Investment Gains (Losses)(1)		Pension and Postretirement Benefits		Effect of Updating Discount Rates on Future Policy Benefits		Instrument-Specific Credit Risk for Market Risk Benefits		Total
Balance, December 31, 2021	$	(13)	$	3,779	$	(50)	$	(4,209)	$	(7)	$	(500)
Other comprehensive income (loss) before reclassifications	47		(9,458)		(3)		8,100		(3)		(1,317)
Amounts reclassified to (from) AOCI	—		107		2		—		—		109
Deferred income tax benefit (expense)	(31)		2,023		—		(1,769)		1		224
Balance, June 30, 2022	$	3	$	(3,549)	$	(51)	$	2,122	$	(9)	$	(1,484)

(1)Includes cash flow hedges of $(228) and $(205) as of June 30, 2023 and December 31, 2022, respectively, and $(206) and $(22) as of June 30, 2022 and December 31, 2021, respectively. See Note 12 – “Derivative Instruments” for additional information on cash flow hedges.

Reclassification Out Of Accumulated Other Comprehensive Income

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2023 and 2022 (dollars in millions):

	Amount Reclassified from AOCI
	Three months ended June 30,				Six months ended June 30,				Affected Line Item in  Statements of Income
Details about AOCI Components	2023		2022		2023		2022
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities	$	(9)	$	(68)	$	(96)	$	(103)	Investment related gains (losses), net
Cash flow hedges – Interest rate	2		(1)		4		(2)		(1)
Cash flow hedges – Currency/Interest rate	(4)		(2)		(7)		(2)		(1)
Total	(11)		(71)		(99)		(107)
Provision for income taxes	5		15		23		22
Net unrealized gains (losses), net of tax	$	(6)	$	(56)	$	(76)	$	(85)
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	$	1	$	1	(2)
Actuarial gains (losses)	—		(2)		(1)		(3)		(2)
Total	1		(1)		—		(2)
Provision for income taxes	—		—		—		—
Amortization of defined benefit plans, net of tax	$	1	$	(1)	$	—	$	(2)
Total reclassifications for the period	$	(5)	$	(57)	$	(76)	$	(87)

(1)See Note 12 – “Derivative Instruments” for additional information on cash flow hedges.

(2)This AOCI component is included in the computation of the net periodic pension cost. See Note 15 – “Employee Benefit Plans” for additional details.