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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $39,533 and $40,788, and ACL of $12 and $1) $ 36,231 $ 42,847
Fixed maturities, at fair value using the fair value option ("FVO") 333 160
Equity securities, at fair value 1,801 2,094
Financing Receivable, after Allowance for Credit Loss 6,000 5,383
Limited partnerships and other alternative investments 4,177 3,353
Other investments 159 215
Short-term investments 3,859 3,697
Total investments 52,560 57,749
Cash 229 205
Restricted Cash 115 132
Premiums receivable and agents' balances (net of ACL of $109 and $105) 4,949 4,445
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $105 and $99) 6,966 6,523
Deferred policy acquisition costs 1,002 881
Deferred income taxes, net 1,449 270
Goodwill 1,911 1,911
Property and equipment, net 927 1,027
Other intangible assets, net 778 858
Other assets 2,136 2,577
Total assets 73,022 76,578
Liabilities    
Unpaid losses and loss adjustment expenses 41,243 39,659
Reserve for future policy benefits 561 596
Other policyholder funds and benefits payable 658 687
Unearned premiums 7,815 7,194
Long-term debt 4,357 4,944
Other liabilities 4,757 5,655
Total liabilities 59,391 58,735
Stockholders’ Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at December 31, 2022 and December 31, 2021, aggregate liquidation preference of $345 334 334
Common Stock, Value, Issued 3 4
Additional paid-in capital 1,895 3,309
Retained earnings 17,048 15,764
Treasury Stock, Value (1,773) (1,740)
Accumulated other comprehensive income (loss), net of tax (3,876) 172
Total stockholders' equity 13,631 17,843
Total liabilities and stockholders’ equity $ 73,022 $ 76,578