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Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

The Company’s long-term debt consists of the following as of December 31, 2021 and 2020 (dollars in millions):

						2021						2020
$400 million 5.00% Senior Notes due 2021						$	—					$	400
$400 million 4.70% Senior Notes due 2023						400						399
$400 million 3.95% Senior Notes due 2026						400						400
$600 million 3.90% Senior Notes due 2029						599						599
$600 million 3.15% Senior Notes due 2030						597						597
$100 million 4.09% Promissory Note due 2039						80						83
$400 million 6.20% Subordinated Debentures due 2042						400						400
$500 million 4.00% Surplus Notes due 2051						500						—
$400 million 5.75% Subordinated Debentures due 2056						400						400
$400 million Variable Rate Junior Subordinated Debentures due 2065						319						319
Sub-total						3,695						3,597
Unamortized issuance costs						(28)						(24)
Long-term Debt						$	3,667					$	3,573

Schedule of Maturities of Long-term Debt [Table Text Block]

Future principal payments due on long-term debt, excluding discounts, as of December 31, 2021, were as follows (dollars in millions):

			Calendar Year
			2022						2023						2024						2025						2026						Thereafter
Long-term debt			$	3					$	403					$	3					$	4					$	404					$	2,883

Schedule of Line of Credit Facilities [Table Text Block]

The following table provides additional information on the Company’s existing committed credit facilities as of December 31, 2021 and 2020 (dollars in millions):

												Amount Utilized(1) December 31,
Current Capacity						Maturity Date						2021						2020						Basis of Fees
$	108					March 2022						$	108					$	107					Fixed
500						May 2022						376						210						Debt rating and utilization %
100						May 2023						70						75						Fixed
850						August 2023						21						21						Senior unsecured long-term debt rating
80 (2)						December 2023						80						100						Fixed
100						February 2024						51						51						Fixed
100						August 2024						40						100						Fixed

(1)Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.

(2)Foreign currency denominated facility, amounts presented are in U.S. dollars.

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