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Condensed Financial Statements Of Parent Company | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Statements Of Parent Company | Schedule II
Cincinnati Financial Corporation (parent company only)
Condensed Balance Sheets
(Dollars in millions) |  | At December 31,
|  | 2023 |  | 2022
Assets |  |  |  |
Investments |  |  |  |
Fixed maturities, at fair value (amortized cost: 2023—$184; 2022—$91) |  | $ | 176 |  |  | $ | 78 |
Equity securities, at fair value (cost: 2023—$1,645; 2022—$1,734) |  | 4,544 |  |  | 3,978 |
Other invested assets |  | 49 |  |  | 53 |
Total investments |  | 4,769 |  |  | 4,109 |
Cash and cash equivalents |  | 138 |  |  | 121 |
Equity in net assets of subsidiaries |  | 8,481 |  |  | 7,427 |
Investment income receivable |  | 13 |  |  | 11 |
Land, building and equipment, net, for company use (accumulated depreciation: 2023—$164; 2022—$156) |  | 138 |  |  | 136 |
Income tax receivable |  | 4 |  |  | 5 |
Other assets |  | 150 |  |  | 116 |
Due from subsidiaries |  | 40 |  |  | 102 |
Total assets |  | $ | 13,733 |  |  | $ | 12,027 |
Liabilities |  |  |  |
Dividends declared but unpaid |  | $ | 118 |  |  | $ | 108 |
Deferred federal income tax |  | 624 |  |  | 480 |
Long-term debt |  | 789 |  |  | 789 |
Other liabilities |  | 104 |  |  | 88 |
Total liabilities |  | 1,635 |  |  | 1,465 |
Shareholders' Equity |  |  |  |
Common stock |  | 397 |  |  | 397 |
Paid-in capital |  | 1,437 |  |  | 1,392 |
Retained earnings |  | 13,084 |  |  | 11,711 |
Accumulated other comprehensive income |  | (435) |  |  | (614) |
Treasury stock, at cost |  | (2,385) |  |  | (2,324) |
Total shareholders' equity |  | 12,098 |  |  | 10,562 |
Total liabilities and shareholders' equity |  | $ | 13,733 |  |  | $ | 12,027 |
This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8. Schedule II (continued)
Cincinnati Financial Corporation (parent company only)
Condensed Statements of Income and Comprehensive Income
(Dollars in millions) |  | Years ended December 31,
|  | 2023 |  | 2022 |  | 2021
Revenues |  |  |  |  |  |
Investment income, net of expenses |  | $ | 109 |  |  | $ | 101 |  |  | $ | 91 |
Investment gains and losses, net |  | 644 |  |  | (790) |  |  | 1,058 |
Other revenue |  | 15 |  |  | 15 |  |  | 15 |
Total revenues |  | 768 |  |  | (674) |  |  | 1,164 |
Expenses |  |  |  |  |  |
Interest expense |  | 52 |  |  | 53 |  |  | 53 |
Other expenses |  | 38 |  |  | 33 |  |  | 32 |
Total expenses |  | 90 |  |  | 86 |  |  | 85 |
Income (Loss) Before Income Taxes and Earnings of Subsidiaries |  | 678 |  |  | (760) |  |  | 1,079 |
Provision (Benefit) for Income Taxes |  | 134 |  |  | (161) |  |  | 217 |
Net Income (Loss) Before Earnings of Subsidiaries |  | 544 |  |  | (599) |  |  | 862 |
Increase in equity of subsidiaries |  | 1,299 |  |  | 112 |  |  | 2,106 |
Net Income (Loss) |  | $ | 1,843 |  |  | $ | (487) |  |  | $ | 2,968 |
Other Comprehensive Income (Loss), Net of Taxes |  |  |  |  |  |
Change in unrealized gain on securities |  | 4 |  |  | (10) |  |  | 1 |
Amortization of pension actuarial gains (losses) and prior service costs |  | (5) |  |  | 7 |  |  | 54 |
Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income (Loss) of Subsidiaries |  | (1) |  |  | (3) |  |  | 55 |
Other comprehensive income (loss) of subsidiaries |  | 180 |  |  | (908) |  |  | (93) |
Other comprehensive income (loss) |  | 179 |  |  | (911) |  |  | (38) |
Comprehensive Income (Loss) |  | $ | 2,022 |  |  | $ | (1,398) |  |  | $ | 2,930 |
This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8. Schedule II (continued)
Cincinnati Financial Corporation (parent company only)
Condensed Statements of Cash Flows
(Dollars in millions) |  | Years ended December 31,
|  | 2023 |  | 2022 |  | 2021
Cash Flows From Operating Activities |  |  |  |  |  |
Net income |  | $ | 1,843 |  |  | $ | (487) |  |  | $ | 2,968 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Depreciation and amortization and other |  | 10 |  |  | 9 |  |  | 10 |
Investment gains and losses, net |  | (644) |  |  | 792 |  |  | (1,034) |
Dividends from subsidiaries |  | 426 |  |  | 729 |  |  | 598 |
Changes in: |  |  |  |  |  |
Increase in equity of subsidiaries |  | (1,299) |  |  | (112) |  |  | (2,106) |
Current federal income taxes |  | 1 |  |  | (6) |  |  | 6 |
Deferred income tax |  | 144 |  |  | (183) |  |  | 220 |
Other assets |  | (12) |  |  | (7) |  |  | 5 |
Other liabilities |  | 3 |  |  | 1 |  |  | — |
Intercompany receivable for operations |  | 95 |  |  | 28 |  |  | 5 |
Net cash provided by operating activities |  | 567 |  |  | 764 |  |  | 672 |
Cash Flows From Investing Activities |  |  |  |  |  |
Sale, call or maturity of fixed maturities |  | 17 |  |  | 1 |  |  | 22 |
Sale of equity securities |  | 138 |  |  | 192 |  |  | 25 |
Purchase of fixed maturities |  | (119) |  |  | (30) |  |  | (19) |
Purchase of equity securities |  | (65) |  |  | (187) |  |  | (82) |
Investment in buildings and equipment |  | (10) |  |  | (4) |  |  | (6) |
Change in other invested assets, net |  | — |  |  | (4) |  |  | 108 |
Net cash (used in) received from investing activities |  | (39) |  |  | (32) |  |  | 48 |
Cash Flows From Financing Activities |  |  |  |  |  |
Payment of cash dividends to shareholders |  | (454) |  |  | (423) |  |  | (395) |
Shares acquired - share repurchase authorization |  | (67) |  |  | (410) |  |  | (144) |
Proceeds from stock options exercised |  | 9 |  |  | 10 |  |  | 13 |
Other |  | 1 |  |  | 1 |  |  | 1 |
Net cash used in financing activities |  | (511) |  |  | (822) |  |  | (525) |
Net change in cash and cash equivalents |  | 17 |  |  | (90) |  |  | 195 |
Cash and cash equivalents at beginning of year |  | 121 |  |  | 211 |  |  | 16 |
Cash and cash equivalents at end of year |  | $ | 138 |  |  | $ | 121 |  |  | $ | 211 |
This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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