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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Share-based Compensation | A summary of the Company's stock option activity and related information for 2024 is presented below (shares in thousands; dollars in millions):
| Shares |  | Weighted average exercise price |  | Weighted average remaining life (in years) |  | Aggregate intrinsic value
Outstanding at the beginning of the year | 2,185 |  |  | $ | 19.45 |  |  |  |  |
Exercised | (374) |  |  | (19.24) |  |  |  |  | $ | 5.7 |
Forfeited or terminated | (20) |  |  | (20.38) |  |  |  |  |
Outstanding at the end of the year | 1,791 |  |  | 19.48 |  |  | 3.0 |  | $ | 31.8 |
Options exercisable at the end of the year | 1,791 |  |  |  |  | 3.0 |  | $ | 31.8 |
A summary of the Company's stock option activity and related information for 2023 is presented below (shares in thousands; dollars in millions):
| Shares |  | Weighted average exercise price |  | Weighted average remaining life (in years) |  | Aggregate intrinsic value
Outstanding at the beginning of the year | 2,736 |  |  | $ | 19.45 |  |  |  |  |
Exercised | (484) |  |  | (19.43) |  |  |  |  | $ | 2.9 |
Forfeited or terminated | (67) |  |  | (19.62) |  |  |  |  |
Outstanding at the end of the year | 2,185 |  |  | 19.45 |  |  | 3.9 |  | $ | 11.8 |
Options exercisable at the end of the year | 2,185 |  |  |  |  | 3.9 |  | $ | 11.8 |
A summary of the Company's stock option activity and related information for 2022 is presented below (shares in thousands; dollars in millions, except per share amounts):
| Shares |  | Weighted average exercise price |  | Weighted average remaining life (in years) |  | Aggregate intrinsic value
Outstanding at the beginning of the year | 3,411 |  |  | $ | 19.28 |  |  |  |  |
Exercised | (618) |  |  | (18.43) |  |  |  |  | $ | 3.8 |
Forfeited or terminated | (57) |  |  | (20.18) |  |  |  |  |
Outstanding at the end of the year | 2,736 |  |  | 19.45 |  |  | 4.7 |  | $ | 15.1 |
Options exercisable at the end of the year | 2,540 |  |  |  |  | 4.6 |  | $ | 14.1 |
Schedule of Share-Based Compensation by Exercise Price Range | The following table summarizes information about stock options outstanding at December 31, 2024 (shares in thousands):
|  |  |  | Options outstanding |  | Options exercisable
Range of exercise prices |  | Number outstanding |  | Remaining life (in years) |  | Weighted Average exercise price |  | Number exercisable |  | Average exercise price
$15.08 - $21.06 |  | 1,559 |  |  | 3.0 |  | $ | 18.91 |  |  | 1,559 |  |  | $ | 18.91 |
$23.33 |  | 232 |  |  | 3.1 |  | 23.33 |  |  | 232 |  |  | 23.33 |
|  | 1,791 |  |  |  |  |  |  | 1,791 |  |  |
Schedule of Nonvested Share Activity | A summary of the Company's non-vested restricted stock activity for 2024 is presented below (shares in thousands):
| Shares |  | Weighted average grant date fair value
Non-vested shares, beginning of year | 988 |  |  | $ | 23.41 |
Granted | 451 |  |  | 27.59 |
Vested | (459) |  |  | 23.86 |
Forfeited | (9) |  |  | 25.69 |
Non-vested shares, end of year | 971 |  |  | 25.12 |
Schedule of Performance Share-Based Compensation | A summary of the Company's performance units is presented below (shares in thousands):
| Total shareholder return awards |  | Operating return on equity awards |  | Operating earnings per share awards
Awards outstanding at December 31, 2021 | 203 |  |  | 635 |  |  | 425 |
Granted in 2022 | — |  |  | 204 |  |  | 204 |
Additional shares issued pursuant to achieving certain performance criteria (a) | 188 |  |  | 186 |  |  | — |
Shares vested in 2022 | (389) |  |  | (390) |  |  | — |
Forfeited | — |  |  | (24) |  |  | (25) |
Awards outstanding at December 31, 2022 | 2 |  |  | 611 |  |  | 604 |
Granted in 2023 | — |  |  | 215 |  |  | 216 |
Additional shares issued pursuant to achieving certain performance criteria (a) | — |  |  | 221 |  |  | 221 |
Shares vested in 2023 | (1) |  |  | (443) |  |  | (441) |
Forfeited | — |  |  | (9) |  |  | (9) |
Awards outstanding at December 31, 2023 | 1 |  |  | 595 |  |  | 591 |
Granted in 2024 | — |  |  | 197 |  |  | 197 |
Additional shares issued pursuant to achieving certain performance criteria (a) | — |  |  | 68 |  |  | 80 |
Shares vested in 2024 | (1) |  |  | (258) |  |  | (269) |
Forfeited | — |  |  | (9) |  |  | (9) |
Awards outstanding at December 31, 2024 | — |  |  | 593 |  |  | 590 |
_________________________ (a) The performance units that vested in 2022, 2023 and 2024 provided for a payout of up to 200 percent of the award if certain performance levels were achieved.
Schedule of Earnings Per Share Reconciliation | A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands):
| 2024 |  | 2023 |  | 2022 |  |
Net income for basic earnings per share | $ | 404.0 |  |  | $ | 276.5 |  |  | $ | 630.6 |  |  |
Shares: |  |  |  |  |  |  |
Weighted average shares outstanding for basic earnings per share | 106,144 |  |  | 113,275 |  |  | 115,733 |  |  |
Effect of dilutive securities on weighted average shares: |  |  |  |  |  |  |
Amounts related to employee benefit plans | 1,972 |  |  | 1,849 |  |  | 1,984 |  |  |
Weighted average shares outstanding for diluted earnings per share | 108,116 |  |  | 115,124 |  |  | 117,717 |  |  |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss included in shareholders' equity as of December 31, 2024 and 2023, is comprised of the following (dollars in millions):
| 2024 |  | 2023
Net unrealized losses on investments having no allowance for credit losses | $ | (1,281.6) |  |  | $ | (1,235.2) |
Unrealized losses on investments with an allowance for credit losses | (1,108.7) |  |  | (931.0) |
Change in discount rates for liability for future policy benefits | 624.5 |  |  | 133.4 |
Change in instrument-specific credit risk for market risk benefits | 1.4 |  |  | 4.8 |
Deferred income tax assets | 393.0 |  |  | 451.2 |
Accumulated other comprehensive loss | $ | (1,371.4) |  |  | $ | (1,576.8) |

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