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Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt
Long-term Debt by Issuance
As of December 31,
20222021
Revolving Credit Facilities$— $— 
Senior Notes and Debentures  
2.8% Notes, due 2029
600 600 
5.95% Notes, due 2036
300 300 
6.625% Notes, due 2040
295 295 
6.1% Notes, due 2041
409 409 
6.625% Notes, due 2042
178 178 
4.3% Notes, due 2043
300 300 
4.4% Notes, due 2048
500 500 
3.6% Notes, due 2049
800 800 
2.9% Notes, due 2051
600 600 
Junior Subordinated Debentures  
7.875% Notes, due 2042
— 600 
3 Month LIBOR + 2.125% Notes, due 2067 [1]
500 500 
Total Notes and Debentures4,482 5,082 
Unamortized discount and debt issuance cost [2](125)(138)
Total Debt4,357 4,944 
Less: Current maturities— — 
Long-Term Debt$4,357 $4,944 
[1]In April 2017, the Company entered into an interest rate swap agreement expiring February 15, 2027 to effectively convert the variable interest payments for this debenture into fixed interest payments of approximately 4.39%.
[2]This amount includes unamortized discount of $72 and $74 as of December 31, 2022 and 2021, respectively, on the 6.1% Notes, due 2041.
Schedule of Subordinated Borrowing
Junior Subordinated Debentures by Issuance as of December 31, 2022
Issue3 Month LIBOR + 2.125%
Face Value$500 
Interest Rate [1]
3 Month LIBOR + 2.125%
[2]
Call DateFebruary 15, 2022[3]
Final MaturityFebruary 12, 2067
[1]Payable quarterly in arrears.
[2]Debentures were issued on the original call date of February 15, 2017. The interest rate is variable and resets quarterly. In April 2017, the company entered into an interest rate swap agreement expiring February 15, 2027 to effectively convert the interest payments for the 3 Month LIBOR + 2.125% debenture into fixed interest payments of approximately 4.39%.
[3]Although the original call date was February 15, 2017, a Replacement Capital Covenant associated with the debenture prohibits the Company from redeeming all or any portion of the notes on or prior to February 15, 2022, unless consent from covered bondholders is obtained.
Long-Term Debt Maturities
Long-term Debt Maturities (at par value) as of December 31, 2022
2023 - Current maturities$— 
2024$— 
2025$— 
2026$— 
2027$— 
Thereafter$4,482