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v3.23.2

Capital Structure (Tables) | 6 Months Ended
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Jun. 30, 2023
Capital Structure |
Schedule of Debt | Both Subordinated Debentures will replace the three-month LIBOR with the CME Term SOFR Reference Rate published for a three-month tenor plus a spread adjustment of 0.26161% effective for interest paid under the terms of each of the Subordinated Debentures after June 30, 2023, as shown in the table below.
Interest rates for LIBOR-linked debt
($ in millions) |  | 5.100% Subordinated Debentures, due 2053 |  |  |  | 5.750% Subordinated Debentures, due 2053
Debt outstanding |  | $ | 500 |  |  |  |  | $ | 800 |
Dividend accrual date (1) |  | July 15, 2023 |  |  |  | August 15, 2023
Rate following commencement date |  | 3-month SOFR + 3.165% + .26161% |  |  |  | 3-month SOFR + 2.938% + .26161%
(1)First dividend accrual date following the last published three-month LIBOR rate on June 30, 2023.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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