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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

Income Tax Expense

			For the years ended December 31,
			2020			2019			2018
Income tax expense (benefit)
Current - U.S. federal			$	410		$	8		$	(18)
Foreign			—			—			—
Total current			410			8			(18)
Deferred - U.S. federal			(20)			476			286
Foreign			(7)			(9)			—
Total deferred			(27)			467			286
Total income tax expense			$	383		$	475		$	268

Income Tax Rate Reconciliation

Income Tax Rate Reconciliation

			For the years ended December 31,
			2020			2019			2018
Tax provision at U.S. Federal statutory rate			$	445		$	538		$	368
Tax-exempt interest			(46)			(56)			(66)
Increase in deferred tax valuation allowance			9			2			—
Sale of business			(8)			—			—
Carryback benefit			(5)			—			—
Tax law change			(6)			—			(39)
Other			(6)			(9)			5
Provision for income taxes			$	383		$	475		$	268

Deferred Tax Assets (Liabilities)

Deferred Tax Assets (Liabilities)

			As of December 31,
			2020			2019
Deferred tax assets
Loss reserves and tax discount			$	312		$	214
Unearned premium reserve and other underwriting related reserves			384			385
Investment-related items			125			130
Employee benefits			282			287
Net operating loss carryover			11			84
Other			34			27
Total deferred tax assets			1,148			1,127
Valuation allowance			(4)			(4)
Deferred tax assets, net of valuation allowance			1,144			1,123
Deferred tax liabilities
Deferred acquisition costs			(120)			(143)
Net unrealized gains on investments			(758)			(458)
Other depreciable and amortizable assets			(220)			(223)
Total deferred tax liabilities			(1,098)			(824)
Net deferred tax asset			$	46		$	299

Roll-forward of Unrecognized Tax Benefits

Rollforward of Unrecognized Tax Benefits

			For the years ended December 31,
			2020			2019			2018
Balance, beginning of period			$	14		$	14		$	9
Gross increases - tax positions in prior period			—			—			5
Gross decreases - tax positions in prior period			—			—			—
Gross increases - tax positions in current period			1			—			—
Balance, end of period			$	15		$	14		$	14

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- Definition

Provision benefit for income taxes.

+ References

No definition available.

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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- Definition

Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319

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