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Condensed Consolidated Statements of Financial Position (unaudited)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2020
USD ($)
Dec. 31, 2019
USD ($)
Statement of Financial Position [Abstract]      
Impairment of purchased intangibles $ 0 $ 0  
Investments      
Fixed income securities, at fair value (amortized cost, net $62,267 and $56,293) 66,551 66,551 $ 59,044
Equity securities, at fair value (cost $3,867 and $6,568) 4,395 4,395 8,162
Mortgage loans, net 4,655 4,655 4,817
Limited partnership interests 7,232 7,232 8,078
Short-term investments 4,559 4,559 4,256
Other, net 3,805 3,805 4,005
Total investments 91,197 91,197 88,362
Cash 370 370 338
Premium installment receivables, net 6,609 6,609 6,472
Deferred policy acquisition costs 4,661 4,661 4,699
Reinsurance and indemnification recoverables, net 9,097 9,097 9,211
Accrued investment income 616 616 600
Property and equipment, net 1,076 1,076 1,145
Goodwill 2,544 2,544 2,545
Other assets, net 3,516 3,516 3,534
Separate Accounts 3,064 3,064 3,044
Total assets 122,750 122,750 119,950
Liabilities      
Reserve for property and casualty insurance claims and claims expense 27,987 27,987 27,712
Reserve for life-contingent contract benefits 12,759 12,759 12,300
Contractholder funds 17,288 17,288 17,692
Unearned premiums 16,029 16,029 15,343
Claim payments outstanding 1,013 1,013 929
Deferred income taxes 905 905 1,154
Other liabilities and accrued expenses 9,807 9,807 9,147
Long-term debt 6,635 6,635 6,631
Separate Accounts 3,064 3,064 3,044
Total liabilities 95,487 95,487 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 1,970 2,248
Common stock, $.01 par value, 3.0 billion shares authorized and 900 million issued, 304 million and 319 million shares outstanding 9 9 9
Additional capital paid-in 3,453 3,453 3,463
Retained income 50,336 50,336 48,074
Treasury stock, at cost (596 million and 581 million shares) (31,338) (31,338) (29,746)
Unrealized net capital gains and losses:      
Unrealized net capital gains and losses on fixed income securities with credit losses (1) (1) 70
Other unrealized net capital gains and losses 3,373 3,373 2,094
Unrealized adjustment to DAC, DSI and insurance reserves (628) (628) (277)
Total unrealized net capital gains and losses 2,744 2,744 1,887
Unrealized foreign currency translation adjustments (64) (64) (59)
Unamortized pension and other postretirement prior service credit 153 153 122
Total accumulated other comprehensive income (“AOCI”) 2,833 2,833 1,950
Total shareholders’ equity 27,263 27,263 25,998
Total liabilities and shareholders’ equity $ 122,750 $ 122,750 $ 119,950