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Other Comprehensive Income (Loss) | 9 Months Ended
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Sep. 30, 2022
Other Comprehensive Income (Loss) [Abstract] |
Other Comprehensive Income (Loss) | 8. OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated: Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 (Dollars in millions) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) ("URA(D)") on securities - non- credit related $ (776) $ 64 $ (712) $ (2,557) $ 297 $ (2,260) Reclassification of net realized losses (gains) included in net income (loss) 51 (10) 41 73 (12) 61 Foreign currency translation adjustments (109) 8 (101) (174) 11 (163) Reclassification of benefit plan liability amortization included in net income (loss) 2 (1) 1 3 (1) 2 Total other comprehensive income (loss) $ (832) $ 61 $ (771) $ (2,655) $ 295 $ (2,360) Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (Dollars in millions) Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) ("URA(D)") on securities - non- credit related $ (108) $ 8 $ (100) $ (343) $ 39 $ (304) Reclassification of net realized losses (gains) included in net income (loss) (1) (1) (1) (1) (2) (3) Foreign currency translation adjustments (59) 5 (54) (30) 1 (29) Reclassification of benefit plan liability amortization included in net income (loss) 2 - 2 7 (2) 6 Total other comprehensive income (loss) $ (166) $ 12 $ (153) $ (367) $ 36 $ (331) The following table presents details of the amounts reclassified from AOCI for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, Affected line item within the statements of AOCI component 2022 2021 2022 2021 operations and comprehensive income (loss) (Dollars in millions) URA(D) on securities $ 51 $ (1) $ 73 $ (1) Other net realized capital gains (losses) (10) (1) (12) (2) Income tax expense (benefit) $ 41 $ (1) $ 61 $ (3) Net income (loss) Benefit plan net gain (loss) $ 2 $ 2 $ 3 $ 7 Other underwriting expenses (1) - (1) (2) Income tax expense (benefit) $ 1 $ 2 $ 2 $ 6 Net income (loss) The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, (Dollars in millions) 2022 2021 2022 2021 Beginning balance of URA (D) on securities $ (1,288) $ 518 $ 239 $ 724 Current period change in URA (D) of investments - non-credit related (671) (101) (2,199) (308) Ending balance of URA (D) on securities (1,959) 416 (1,959) 416 Beginning balance of foreign currency translation adjustments (240) (91) (177) (115) Current period change in foreign currency translation adjustments (101) (54) (163) (29) Ending balance of foreign currency translation adjustments (341) (144) (341) (144) Beginning balance of benefit plan net gain (loss) (49) (70) (50) (74) Current period change in benefit plan net gain (loss) 1 2 2 6 Ending balance of benefit plan net gain (loss) (48) (68) (48) (68) Ending balance of accumulated other comprehensive income (loss) $ (2,348) $ 204 $ (2,348) $ 204 (Some amounts may not reconcile due to rounding.)

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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