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Long-Term Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Principal and Carrying Amounts of Debt

The principal and carrying values of the Company’s debt are presented in the table below.

Principal and Carrying Amounts of Long-Term Debt 

			As of December 31, 2024												As of December 31, 2023
			Principal						Carrying Value						Principal						Carrying Value
			(in millions)
AGUS 6.125% Senior Notes			$	350					$	346					$	350					$	345
AGUS 3.15% Senior Notes			500						496						500						496
AGUS 7% Senior Notes			200						198						200						198
AGUS 3.6% Senior Notes			400						396						400						395
AGUS Series A Enhanced Junior Subordinated Debentures			150						150						150						150
AGMH Junior Subordinated Debentures (1)			146						113						146						110
Total			$	1,746					$	1,699					$	1,746					$	1,694

 ____________________

(1)    Carrying amounts are different than principal amounts primarily due to fair value adjustments at the date of the AGMH acquisition, which are accreted into interest expense over the remaining terms of these obligations. Net of AGMH’s long-term debt purchased by AGUS.

Expected Maturity Schedule of Debt

Scheduled principal payments of the Company’s debt are as follows:

Debt Maturity Schedule (1)

As of December 31, 2024

Year						Principal
						(in millions)
2028						$	350
2031						500
2034						200
2051						400
2066						296
Total						$	1,746

 ____________________

(1)    Includes eliminations of AGMH’s debt purchased by AGUS.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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