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OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2024

Other Comprehensive Income (Loss), Tax [Abstract]

Schedule of Components of Comprehensive Income (Loss)

The following tables present the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:

			Three Months Ended September 30, 2024																		Nine Months Ended September 30, 2024
(Dollars in millions)			Before Tax						Tax Effect						Net of Tax						Before Tax						Tax Effect						Net of Tax
URA(D) of securities (1)			$	824					$	(120)					$	704					$	531					$	(54)					$	477
Reclassification of net realized losses (gains) included
in net income (loss) (1)			33						(3)						30						49						(6)						44
Foreign currency translation and other adjustments			93						(11)						83						49						(4)						45
Reclassification of benefit plan liability amortization included
in net income (loss)			(1)						—						—						31						(6)						24
Total other comprehensive income (loss)			$	950					$	(134)					$	816					$	660					$	(70)					$	590

(Some amounts may not reconcile due to rounding)

(1) URA(D) of securities and Reclassification of net realized losses (gains) included in net income (loss) include URA(D) of fixed maturity, available for sale securities and equity method securities.

			Three Months Ended September 30, 2023																		Nine Months Ended September 30, 2023
(Dollars in millions)			Before Tax						Tax Effect						Net of Tax						Before Tax						Tax Effect						Net of Tax
URA(D) of securities			$	(281)					$	24					$	(257)					$	(206)					$	26					$	(180)
Reclassification of net realized losses (gains) included
in net income (loss)			17						(2)						15						26						(6)						21
Foreign currency translation and other adjustments			(50)						3						(47)						(19)						2						(17)
Reclassification of benefit plan liability amortization included
in net income (loss)			1						—						—						2						—						1
Total other comprehensive income (loss)			$	(313)					$	25					$	(288)					$	(197)					$	22					$	(175)

(Some amounts may not reconcile due to rounding)

Schedule of Amount Reclassified from Accumulated Other Comprehensive Income

The following table presents details of the amounts reclassified from AOCI for the periods indicated:

(Dollars in millions)						Three Months Ended September 30,												Nine Months Ended September 30,												Affected line item within the statements of operations and comprehensive income (loss)
AOCI component						2024						2023						2024						2023
URA(D) of securities (1)						$	33					$	17					$	49					$	26					Net gains (losses) on investments
						(3)						(2)						(6)						(6)						Income tax expense (benefit)
						$	30					$	15					$	44					$	21					Net income (loss)
Benefit plan net gain (loss)						$	(1)					$	1					$	31					$	2					Other underwriting expenses
						—						—						(6)						—						Income tax expense (benefit)
						$	—					$	—					$	24					$	1					Net income (loss)

(Some amounts may not reconcile due to rounding)

(1) URA(D) of securities includes URA(D) of fixed maturity, available for sale securities and equity method securities.

Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Tax

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 September 30,												Nine Months Ended September 30,
(Dollars in millions)			2024						2023						2024						2023
Beginning balance of URA(D) of securities (1)			$	(936)					$	(1,627)					$	(723)					$	(1,709)
Current period change in URA(D) of securities			734						(242)						521						(159)
Ending balance of URA(D) of securities			(202)						(1,868)						(202)						(1,868)
Beginning balance of foreign currency translation and other adjustments			(233)						(224)						(195)						(254)
Current period change in foreign currency translation and other adjustments			83						(47)						45						(17)
Ending balance of foreign currency translation and other adjustments			(150)						(271)						(150)						(271)
Beginning balance of benefit plan net gain (loss)			8						(32)						(16)						(33)
Current period change in benefit plan net gain (loss)			—						—						24						1
Ending balance of benefit plan net gain (loss)			8						(32)						8						(32)
Ending balance of accumulated other comprehensive income (loss)			$	(344)					$	(2,171)					$	(344)					$	(2,171)

(Some amounts may not reconcile due to rounding.)

(1) URA(D) of securities includes URA(D) of fixed maturity, available for sale securities and equity method securities.

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

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-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

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-Name Accounting Standards Codification
-Paragraph 1
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