Retirement and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Benefit Plans' Assets and Obligations

Information (in millions) with respect to these plans was as follows:

	As of or For the Years Ended December 31,
	2023		2022		2023		2022
	Pension Plans				Other Postretirement Benefit Plans
Fair value of plan assets	$	1,125	$	1,126	$	76	$	71
Projected benefit obligation	1,131		1,126		42		44
Funded status	$	(6)	$	–	$	34	$	27
Amounts Recognized on the
Consolidated Balance Sheets
Other assets	$	80	$	91	$	34	$	27
Other liabilities	(86)		(91)		–		–
Net amount recognized	$	(6)	$	–	$	34	$	27

Weighted-Average Assumptions
Benefit obligations:
Weighted-average discount rate	5.11	%	5.49	%	5.45	%	5.70	%
Net periodic benefit cost:
Weighted-average discount rate	5.46	%	2.81	%	5.70	%	3.73	%
Expected return on plan assets	6.25	%	5.67	%	6.50	%	6.50	%

Fair Value of Benefit Plan Assets

The following summarizes our fair value measurements of our benefit plans’ assets (in millions) on a recurring basis by asset category:

	As of December 31,
	2023		2022
Fixed maturity securities:
Corporate bonds	$	229	$	292
U.S. government bonds	257		196
Foreign government bonds	1		128
State and municipal bonds	20		22
Limited partnerships and common and
preferred stock	331		353
Bulk annuity insurance policy	250		89
Cash and invested cash	37		46
Other investments	76		71
Total	$	1,201	$	1,197

Deferred Compensation Plans Liabilities and Investments

Information (in millions) with respect to these plans was as follows:

	As of December 31,
	2023		2022
Total liabilities (1)	$	736	$	686
Investments dedicated to fund liabilities (2)	233		206

(1) Reported in other liabilities on the Consolidated Balance Sheets.

(2) Reported in other assets on the Consolidated Balance Sheets.