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Debt (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 (dollars in millions):

						2023						2022
$400 million 4.70% Senior Notes due 2023						$	—					$	400
$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						598						598
$400 million 6.00% Senior Notes due 2033						399						—
$100 million 4.09% Promissory Note due 2039						74						77
$500 million 7.125% Surplus Notes due 2043						475						—
$500 million 4.00% Surplus Notes due 2051						500						500
$700 million 7.125% Subordinated Debentures due 2052						700						700
$400 million 5.75% Subordinated Debentures due 2056						400						400
$400 million Variable Rate Junior Subordinated Debentures due 2065						319						319
Sub-total						4,464						3,993
Unamortized issuance costs						(37)						(32)
Long-term Debt						$	4,427					$	3,961

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

Future principal payments due on long-term debt, excluding discounts, as of December 31, 2023, were as follows (dollars in millions):

			Calendar Year
			2024						2025						2026						2027						2028						Thereafter
Long-term debt			$	3					$	4					$	404					$	4					$	4					$	4,050

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, 2023 and 2022 (dollars in millions):

															Amount Utilized(1) December 31,
Current Capacity									Maturity Date						2023						2022						Basis of Fees
$	100								February 2024						$	97					$	97					Fixed
125									March 2024						104						103						Fixed
3			(2)						December 2024						3						3						Fixed
100									August 2024						29						30						Fixed
100									May 2025						60						70						Fixed
850									March 2028						—						1						Credit rating
500									November 2028						99						346						Credit rating and utilization %

(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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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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