Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Changes in the Components of AOCI

Changes in the components of AOCI were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2020		2019		2020		2019
Securities and Derivatives
Beginning balance	$	1,256	$	803	$	975	$	18
Appreciation on securities and derivatives	159		298		499		1,305
Tax (expense)	(27)		(68)		(96)		(284)
Net appreciation on securities and derivatives	132		230		403		1,021
Reclassification adjustment for (gains) included in shareholders' net income (net realized investment (gains))	(16)		(10)		(3)		(17)
Tax benefit	4		3		1		4
Net (gains) reclassified from AOCI to net income	(12)		(7)		(2)		(13)
Other comprehensive income, net of tax	120		223		401		1,008
Ending balance	$	1,376	$	1,026	$	1,376	$	1,026
Translation of foreign currencies
Beginning balance	$	(374)	$	(285)	$	(275)	$	(221)
Translation of foreign currencies	102		(124)		7		(191)
Tax (expense) benefit	7		(3)		(3)		(4)
Net translation of foreign currencies	109		(127)		4		(195)
Less: Net translation of foreign currencies attributable to noncontrolling interests	(4)		1		(10)		(3)
Shareholders' net translation of foreign currencies	113		(128)		14		(192)
Ending balance	$	(261)	$	(413)	$	(261)	$	(413)
Postretirement benefits liability
Beginning balance	$	(1,670)	$	(1,483)	$	(1,641)	$	(1,508)
Reclassification adjustment for amortization of net losses from past experience and prior service costs (interest expense and other)	18		16		54		47
Reclassification adjustment for settlement (interest expense and other)	—		—		—		10
Tax (expense)	(4)		(3)		(13)		(12)
Net adjustments reclassified from AOCI to net income	14		13		41		45
Valuation update	—		(1)		(73)		(9)
Tax benefit	—		—		17		1
Net change due to valuation update	—		(1)		(56)		(8)
Other comprehensive (loss) income, net of tax	14		12		(15)		37
Ending balance	$	(1,656)	$	(1,471)	$	(1,656)	$	(1,471)