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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis Financial assets measured at fair value on a recurring basis on the consolidated balance sheets at December 31, 2023 and 2022 were as follows:
In millionsLevel 1Level 2Level 3Total
December 31, 2023    
Cash and cash equivalents$2,174 $6,022 $— $8,196 
Debt securities:    
U.S. government securities2,013 23 — 2,036 
States, municipalities and political subdivisions— 2,215 — 2,215 
U.S. corporate securities— 9,814 29 9,843 
Foreign securities— 2,512 — 2,512 
Residential mortgage-backed securities— 810 — 810 
Commercial mortgage-backed securities— 975 — 975 
Other asset-backed securities— 3,302 — 3,302 
Redeemable preferred securities— 20 — 20 
Total debt securities2,013 19,671 29 21,713 
Equity securities194 — 79 273 
Total$4,381 $25,693 $108 $30,182 
December 31, 2022    
Cash and cash equivalents (1)
$6,902 $6,049 $— $12,951 
Debt securities:
U.S. government securities1,860 32 — 1,892 
States, municipalities and political subdivisions— 2,272 — 2,272 
U.S. corporate securities— 8,897 61 8,958 
Foreign securities— 2,542 8 2,550 
Residential mortgage-backed securities— 757 — 757 
Commercial mortgage-backed securities— 1,018 — 1,018 
Other asset-backed securities— 2,810 — 2,810 
Redeemable preferred securities— 23 — 23 
Total debt securities1,860 18,351 69 20,280 
Equity securities116 — 60 176 
Total$8,878 $24,400 $129 $33,407 
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(1)Includes cash and cash equivalents of $6 million which were accounted for as assets held for sale and were included in assets held for sale on the consolidated balance sheet at December 31, 2022. See Note 2 ‘‘Acquisitions, Divestitures and Asset Sales’’ for additional information.
Schedule of Changes in Level 3 Financial Assets
The changes in the balances of Level 3 financial assets during the year ended December 31, 2023 were as follows:
In millionsCommercial mortgage-backed securitiesU.S.
corporate
securities		Foreign
securities		Equity
securities		Total
Beginning balance$— $61 $8 $60 $129 
Net realized and unrealized capital losses:
Included in earnings — (8)— (2)(10)
Included in other comprehensive income— 1 — — 1 
Purchases13 5 — 23 41 
Sales— (1)— (2)(3)
Transfers out of Level 3, net(13)(29)(8)— (50)
Ending balance$— $29 $— $79 $108 
The changes in the balances of Level 3 financial assets during the year ended December 31, 2022 were as follows:
In millionsStates,
municipalities
 and political
subdivisions		U.S.
corporate
securities		Foreign
securities		Other asset-
backed
securities		Equity
securities		Total
Beginning balance$5 $38 $10 $3 $55 $111 
Net realized and unrealized capital losses:
Included in earnings— (8)— (1)(9)
Included in other comprehensive loss— (5)(2)(2)— (9)
Purchases— 36 — 30 29 95 
Sales(5)— — (2)(23)(30)
Settlements— — — — — — 
Transfers out of Level 3, net— — — (29)— (29)
Ending balance$— $61 $8 $— $60 $129 
The total gross transfers into (out of) Level 3 during the years ended December 31, 2023 and 2022 were as follows:
In millions20232022
Gross transfers into Level 3$— $— 
Gross transfers out of Level 3(50)(29)
Net transfers out of Level 3$(50)$(29)
Schedule of Carrying Value and Fair Value By Level of Fair Value Hierarchy
The carrying value and estimated fair value classified by level of fair value hierarchy for financial instruments carried on the consolidated balance sheets at adjusted cost or contract value at December 31, 2023 and 2022 were as follows:
Carrying
Value		 Estimated Fair Value
In millionsLevel 1Level 2Level 3Total
December 31, 2023
Assets: 
Mortgage loans$1,311 $— $— $1,274 $1,274 
Equity securities (1)
534 N/AN/AN/AN/A
Liabilities:
Investment contract liabilities:
With a fixed maturity1 — — 1 1 
Without a fixed maturity312 — — 279 279 
Long-term debt61,410 58,451 — — 58,451 
December 31, 2022
Assets:
Mortgage loans$1,044 $— $— $978 $978 
Equity securities (1)
411 N/AN/AN/AN/A
Liabilities:
Investment contract liabilities:
With a fixed maturity3 — — 3 3 
Without a fixed maturity332 — — 305 305 
Long-term debt (2)
52,257 47,653 — — 47,653 
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(1)It was not practical to estimate the fair value of these cost-method investments as it represents shares of unlisted companies. See Note 1 ‘‘Significant Accounting Policies’’ for additional information regarding the valuation of cost method investments.
(2)Includes long-term debt of $3 million which was accounted for as liabilities held for sale and was included in liabilities held for sale on the consolidated balance sheet at December 31, 2022. See Note 2 ‘‘Acquisitions, Divestitures and Asset Sales’’ for additional information.
Schedule of Fair Value of Separate Accounts by Major Category of Investment
Separate Accounts financial assets at December 31, 2023 and 2022 were as follows:
December 31, 2023December 31, 2022
In millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$2 $166 $— $168 $2 $154 $— $156 
Debt securities558 1,949 — 2,507 712 1,965 — 2,677 
Common/collective trusts— 529 — 529 — 480 — 480 
Total (1)
$560 $2,644 $— $3,204 $714 $2,599 $— $3,313 
_____________________________________
(1)Excludes $46 million of other receivables and $85 million of other payables at December 31, 2023 and 2022, respectively.
The following table shows the fair value of assets, by major investment category, supporting Separate Accounts as of December 31, 2023 and 2022:
In millions20232022
Cash and cash equivalents$168 156 
Debt securities:
U.S. government securities573 717 
States, municipalities and political subdivisions28 27 
U.S. corporate securities1,632 1,667 
Foreign securities202 201 
Residential mortgage-backed securities51 41 
Commercial mortgage-backed securities6 6 
Other asset-backed securities15 18 
Total debt securities2,507 2,677 
Common/collective trusts529 480 
Total (1)
$3,204 $3,313 
_____________________________________________
(1)Excludes $46 million of other receivables and $85 million of other payables at December 31, 2023 and 2022, respectively.