Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2024

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

Schedule of Accumulated Other Comprehensive Income (Loss)

Shareholders’ equity included the following activity in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2024		2023		2024		2023
Net unrealized investment gains (losses):
Beginning of period balance	$	(564)	$	(1,113)	$	(429)	$	(1,519)
Other comprehensive income (loss) before reclassifications ($710,$(475), $427, $(310) pretax)	647		(478)		382		(313)
Amounts reclassified from accumulated other comprehensive loss ($36, $157, $184, $398 pretax) (1)	32		157		162		398
Other comprehensive income (loss)	679		(321)		544		85
End of period balance	115		(1,434)		115		(1,434)
Change in discount rate on long-duration insurance reserves:
Beginning of period balance	273		205		152		219
Other comprehensive income (loss) before reclassifications ($(189), $233, $(33), $210 pretax)	(147)		181		(26)		167
Other comprehensive income (loss)	(147)		181		(26)		167
End of period balance	126		386		126		386
Foreign currency translation adjustments:
Beginning of period balance	—		1		—		—
Other comprehensive loss before reclassifications	—		(2)		—		(1)
Other comprehensive loss	—		(2)		—		(1)
End of period balance	—		(1)		—		(1)
Net cash flow hedges:
Beginning of period balance	236		252		244		239
Other comprehensive income before reclassifications ($0, $0, $0, $25 pretax)	—		—		—		19
Amounts reclassified from accumulated other comprehensive income ($(6), $(5), $(16), $(13) pretax) (2)	(4)		(4)		(12)		(10)
Other comprehensive income (loss)	(4)		(4)		(12)		9
End of period balance	232		248		232		248
Pension and other postretirement benefits:
Beginning of period balance	(264)		(203)		(264)		(203)
Other comprehensive income	—		—		—		—
End of period balance	(264)		(203)		(264)		(203)
Total beginning of period accumulated other comprehensive loss	(319)		(858)		(297)		(1,264)
Total other comprehensive income (loss)	528		(146)		506		260
Total end of period accumulated other comprehensive income (loss)	$	209	$	(1,004)	$	209	$	(1,004)

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(1)Amounts reclassified from accumulated other comprehensive loss for specifically identified debt securities are included in net investment income in the unaudited condensed consolidated statements of operations.

(2)Amounts reclassified from accumulated other comprehensive income for specifically identified cash flow hedges are included in interest expense in the unaudited condensed consolidated statements of operations. The Company expects to reclassify approximately $16 million, net of tax, in net gains associated with its cash flow hedges into net income within the next 12 months.