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Pension Plans, Retirement Benefits and Savings Plans | 9 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Pension Plans, Retirement Benefits and Savings Plans | PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS The following table summarizes the components of net periodic benefit cost (benefit) for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income for the three months ended September 30, 2025 and 2024.
|  | Pension Plans |  | Postretirement Benefit Plans
(for the three months ended September 30, in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net Periodic Benefit Cost (Benefit): |  |  |  |  |  |  |  |
Service cost |  | $ | 28 |  |  | $ | 29 |  |  | $ | — |  |  | $ | — |
Non-service cost (benefit): |  |  |  |  |  |  |  |
Interest cost on benefit obligation |  | 44 |  |  | 43 |  |  | 1 |  |  | 1 |
Expected return on plan assets |  | (71) |  |  | (74) |  |  | — |  |  | — |
Amortization of unrecognized: |  |  |  |  |  |  |  |
Prior service benefit |  | — |  |  | — |  |  | — |  |  | — |
Net actuarial (gain) loss |  | 4 |  |  | 2 |  |  | (3) |  |  | (3) |
Total non-service cost (benefit) |  | (23) |  |  | (29) |  |  | (2) |  |  | (2) |
Net periodic benefit cost (benefit) |  | $ | 5 |  |  | $ | — |  |  | $ | (2) |  |  | $ | (2) |
The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the three months ended September 30, 2025 and 2024.
|  | Pension Plans |  | Postretirement Benefit Plans
(for the three months ended September 30, in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Service Cost: |  |  |  |  |  |  |  |
Claims and claim adjustment expenses |  | $ | 11 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |
General and administrative expenses |  | 17 |  |  | 18 |  |  | — |  |  | — |
Total service cost |  | 28 |  |  | 29 |  |  | — |  |  | — |
Non-Service Cost (Benefit): |  |  |  |  |  |  |  |
Claims and claim adjustment expenses |  | (9) |  |  | (11) |  |  | (1) |  |  | — |
General and administrative expenses |  | (14) |  |  | (18) |  |  | (1) |  |  | (2) |
Total non-service cost (benefit) |  | (23) |  |  | (29) |  |  | (2) |  |  | (2) |
Net periodic benefit cost (benefit) |  | $ | 5 |  |  | $ | — |  |  | $ | (2) |  |  | $ | (2) |
The following table summarizes the components of net periodic benefit cost (benefit) for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income for the nine months ended September 30, 2025 and 2024.
|  | Pension Plans |  | Postretirement Benefit Plans
(for the nine months ended September 30, in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net Periodic Benefit Cost (Benefit): |  |  |  |  |  |  |  |
Service cost |  | $ | 85 |  |  | $ | 87 |  |  | $ | — |  |  | $ | — |
Non-service cost (benefit): |  |  |  |  |  |  |  |
Interest cost on benefit obligation |  | 132 |  |  | 129 |  |  | 2 |  |  | 3 |
Expected return on plan assets |  | (211) |  |  | (223) |  |  | — |  |  | — |
Amortization of unrecognized: |  |  |  |  |  |  |  |
Prior service benefit |  | — |  |  | — |  |  | (1) |  |  | (2) |
Net actuarial (gain) loss |  | 11 |  |  | 5 |  |  | (9) |  |  | (7) |
Total non-service cost (benefit) |  | (68) |  |  | (89) |  |  | (8) |  |  | (6) |
Net periodic benefit cost (benefit) |  | $ | 17 |  |  | $ | (2) |  |  | $ | (8) |  |  | $ | (6) |
The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the nine months ended September 30, 2025 and 2024.
|  | Pension Plans |  | Postretirement Benefit Plans
(for the nine months ended September 30, in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Service Cost: |  |  |  |  |  |  |  |
Claims and claim adjustment expenses |  | $ | 33 |  |  | $ | 34 |  |  | $ | — |  |  | $ | — |
General and administrative expenses |  | 52 |  |  | 53 |  |  | — |  |  | — |
Total service cost |  | 85 |  |  | 87 |  |  | — |  |  | — |
Non-Service Cost (Benefit): |  |  |  |  |  |  |  |
Claims and claim adjustment expenses |  | (26) |  |  | (34) |  |  | (3) |  |  | (2) |
General and administrative expenses |  | (42) |  |  | (55) |  |  | (5) |  |  | (4) |
Total non-service cost (benefit) |  | (68) |  |  | (89) |  |  | (8) |  |  | (6) |
Net periodic benefit cost (benefit) |  | $ | 17 |  |  | $ | (2) |  |  | $ | (8) |  |  | $ | (6) |

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