Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Principal and Carrying Amounts of Debt

The principal and carrying values of the Company’s debt are presented in the table below.

Principal and Carrying Amounts of Long-Term Debt 

	As of September 30, 2023				As of December 31, 2022
	Principal		Carrying Value		Principal		Carrying Value
	(in millions)
AGUS 5% Senior Notes	$	—	$	—	$	330	$	329
AGUS 6.125% Senior Notes	350		345		—		—
AGUS 3.15% Senior Notes	500		495		500		495
AGUS 7% Senior Notes	200		198		200		198
AGUS 3.6% Senior Notes	400		395		400		395
AGUS Series A Enhanced Junior Subordinated Debentures	150		150		150		150
AGMH Junior Subordinated Debentures (1)	146		110		146		108
Total	$	1,746	$	1,693	$	1,726	$	1,675

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(1)    Carrying amounts are different than principal amounts primarily due to fair value adjustments at the date of the AGMH acquisition, which are accreted into interest expense over the remaining terms of these obligations. Net of AGMH’s long-term debt purchased by AGUS.