XML 60 R48.htm IDEA: XBRL DOCUMENT v3.25.0.1

Employee Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Weighted-Average Assumptions Used for Benefit Obligations

This is a summary of the weighted-average assumptions used to determine our benefit obligations at December 31 for the plans:

						Qualified Pension Plan												SERP
						2024						2023						2024						2023
Discount rate						5.68		%				5.04		%				5.66		%				5.11		%
Rate of compensation increase						4.00						4.00						4.00						4.00

Assumptions of Net Benefit Costs

This is a summary of the weighted-average assumptions used to determine our net periodic benefit cost for the plans:

						Qualified Pension Plan																		SERP
						2024						2023						2022						2024						2023						2022
Discount rate						5.04		%				5.34		%				2.97		%				5.11		%				5.42		%				2.90		%
Expected return on plan assets						7.00						7.00						7.00						n/a						n/a						n/a
Rate of compensation increase						4.00						4.50						2.25-3.25						4.00						4.50						2.25-3.25

Benefit Obligation Activity Using An Actuarial Measurement Date For Qualified Plan And SERP

Benefit obligation activity using an actuarial measurement date for our qualified pension plan and SERP at December 31 follows:

(Dollars in millions)						At December 31,
						2024						2023
Change in projected benefit obligation:
Benefit obligation, January 1						$	263					$	282
Service cost						6						6
Interest cost						13						13
Actuarial loss (gain)						(9)						10
Benefits paid						(15)						(48)
Projected benefit obligation, December 31						$	258					$	263
Change in plan assets:
Fair value of plan assets, January 1						$	317					$	332
Actual return on plan assets						56						33
Benefits paid						(15)						(48)
Fair value of plan assets, December 31						$	358					$	317
Funded status, December 31						$	100					$	54
Accumulated benefit obligation						$	243					$	247

Reconciliation Of The Funded Status For Qualified Plan And SERP

A reconciliation follows of the funded status for our qualified plan and SERP at the end of the measurement period to the amounts recognized in the consolidated balance sheets at December 31:

(Dollars in millions)						At December 31,
						2024						2023
Pension amounts recognized in the consolidated balance sheets:
Other assets						$	100					$	54
Total						$	100					$	54
Pension amounts recognized in accumulated other comprehensive income:
Net actuarial gain						$	(76)					$	(31)
Prior service cost						1						1
Total						$	(75)					$	(30)

Components Of Net Periodic Benefit Cost As Well As Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income For Qualified Plan And SERP

Below are the components of our net periodic benefit cost, as well as other changes in plan assets and benefit obligations recognized in other comprehensive income for our qualified plan and SERP at December 31:

(Dollars in millions)						Years ended December 31,
						2024						2023						2022
Net periodic benefit cost:
Service cost						$	6					$	6					$	9
Non-service costs (benefit):
Interest cost						13						13						10
Expected return on plan assets						(21)						(21)						(22)
Amortization of actuarial (gain) loss and prior service cost						1						(2)						—
Other						—						(6)						(3)
Net periodic benefit						$	(1)					$	(10)					$	(6)
Other changes in plan assets and benefit obligations recognized in other    comprehensive income:
Current year actuarial gain						$	(44)					$	(2)					$	(12)
Amortization and recognition of actuarial gain (loss)						(1)						8						3
Total recognized in other comprehensive (income) loss						$	(45)					$	6					$	(9)
Total recognized in net periodic benefit and other comprehensive income						$	(46)					$	(4)					$	(15)

Fair Value Hierarchy Of Assets Measured At Fair Value On A Recurring Basis

(Dollars in millions)						Level 1						Level 2						Level 3						Total
At December 31, 2024
Fixed maturities, available for sale:
United States government						$	13					$	—					$	—					$	13
Corporate						—						7						—						7
States, municipalities and political subdivisions						—						5						—						5
Total fixed maturities, available for sale						13						12						—						25
Common equities						297						—						—						297
Total						$	310					$	12					$	—					$	322
At December 31, 2023
Fixed maturities, available for sale:
United States government						$	22					$	—					$	—					$	22
Corporate						—						4						—						4
States, municipalities and political subdivisions						—						6						—						6
Total fixed maturities, available for sale						22						10						—						32
Common equities						269						—						—						269
Total						$	291					$	10					$	—					$	301

Expected Future Benefit Payments For Qualified Plan And SERP

We expect to make the following benefit payments for our qualified plan and SERP, reflecting expected future service:

(Dollars in millions)						Years ended December 31,
						2025						2026						2027						2028						2029						2030 - 2034
Expected future benefit payments						$	40					$	29					$	30					$	31					$	30					$	120

X

- Definition

Net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income for qualified plan and SERP.

+ References

No definition available.

+ Details

Name:	cinf_ScheduleOfNetPeriodicCostAndChangesRecognizedInOtherComprehensiveIncomeTableTextBlock
Namespace Prefix:	cinf_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration