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Condensed Consolidated Statements of Financial Position (unaudited) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Investments    
Fixed income securities, at fair value (amortized cost, net $58,945 and $56,293) $ 59,857 $ 59,044
Equity securities, at fair value (cost $3,631 and $6,568) 3,701 8,162
Mortgage loans, net 4,759 4,817
Limited partnership interests 7,087 8,078
Short-term investments 5,671 4,256
Other, net 3,767 4,005
Total investments 84,842 88,362
Cash 338 338
Premium installment receivables, net 6,401 6,472
Deferred policy acquisition costs 4,742 4,699
Reinsurance and indemnification recoverables, net 9,214 9,211
Accrued investment income 593 600
Property and equipment, net 1,123 1,145
Goodwill 2,544 2,545
Other assets, net 3,876 3,534
Separate Accounts 2,434 3,044
Total assets 116,107 119,950
Liabilities    
Reserve for property and casualty insurance claims and claims expense 27,148 27,712
Reserve for life-contingent contract benefits 12,244 12,300
Contractholder funds 17,404 17,692
Unearned premiums 14,999 15,343
Claim payments outstanding 892 929
Deferred income taxes 331 1,154
Other liabilities and accrued expenses 9,849 9,147
Long-term debt 6,633 6,631
Separate Accounts 2,434 3,044
Total liabilities 91,934 93,952
Commitments and Contingent Liabilities (Note 12)
Shareholders’ equity    
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 81.0 thousand and 92.5 thousand shares issued and outstanding, $2,025 and $2,313 aggregate liquidation preference 1,970 2,248
Common stock, $.01 par value, 3.0 billion shares authorized and 900 million issued, 315 million and 319 million shares outstanding 9 9
Additional capital paid-in 3,519 3,463
Retained income 48,326 48,074
Treasury stock, at cost (585 million and 581 million shares) (30,209) (29,746)
Unrealized net capital gains and losses:    
Unrealized net capital gains and losses on fixed income securities with credit losses 0 70
Other unrealized net capital gains and losses 714 2,094
Unrealized adjustment to DAC, DSI and insurance reserves (184) (277)
Total unrealized net capital gains and losses 530 1,887
Unrealized foreign currency translation adjustments (98) (59)
Unamortized pension and other postretirement prior service credit 126 122
Total accumulated other comprehensive income (“AOCI”) 558 1,950
Total shareholders’ equity 24,173 25,998
Total liabilities and shareholders’ equity $ 116,107 $ 119,950