XML 34 R9.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Workers' Compensation Loss Reserves | 9 Months Ended
--- | ---
Sep. 30, 2018
Insurance [Abstract] |
WORKERS' COMPENSATION LOSS RESERVES | WORKERS' COMPENSATION LOSS RESERVES The following table summarizes the workers’ compensation loss reserve activity for the three and nine months ended September 30, 2018 and 2017:
| Three Months Ended September 30, | Nine Months Ended September 30,
(in millions) | 2018 | 2017 | 2018 | 2017
Total loss reserves, beginning of period | $ | 244 |  | $ | 255 |  | $ | 255 |  | $ | 255 |
Incurred |  |  |  |
Current year | 20 |  | 22 |  | 59 |  | 70 |
Prior years | (4 | ) | (4 | ) | (17 | ) | (3 | )
Total incurred | 16 |  | 18 |  | 42 |  | 67 |
Paid |  |  |  |
Current year | (6 | ) | (4 | ) | (8 | ) | (9 | )
Prior years | (9 | ) | (20 | ) | (44 | ) | (64 | )
Total paid | (15 | ) | (24 | ) | (52 | ) | (73 | )
Total loss reserves, end of period | $ | 245 |  | $ | 249 |  | $ | 245 |  | $ | 249 |
The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets:
(in millions) | September 30, 2018 | December 31, 2017
Total loss reserves, end of period | $ | 245 |  | $ | 255 |
Collateral paid to carriers and offset against loss reserves | (18 | ) | (23 | )
Total loss reserves, net of carrier collateral offset | $ | 227 |  | $ | 232 |
Payable in less than 1 year (net of collateral paid to carriers of $4 and $6 at September 30, 2018 and December 31, 2017, respectively) | $ | 68 |  | $ | 67 |
Payable in more than 1 year (net of collateral paid to carriers of $14 and $17 at September 30, 2018 and December 31, 2017, respectively) | 159 |  | 165 |
Total loss reserves, net of carrier collateral offset | $ | 227 |  | $ | 232 |
Incurred claims related to prior years represent changes in estimates for ultimate losses on workers' compensation claims. For the three months ended September 30, 2018, there were no material changes from the same period in 2017. For the nine months ended September 30, 2018, the favorable development was primarily due to lower than expected severity of reported claims associated with office and non-office worker WSEs in recent accident years. We had $63 million of collateral held by insurance carriers as of September 30, 2018 and December 31, 2017, of which $18 million and $23 million, respectively, was offset against workers' compensation loss reserves as the agreements permit and are net settled of insurance obligations against collateral held. Collateral paid to each carrier for a policy year in excess of our loss reserves is recorded as workers' compensation collateral receivable.

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration