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Short-Term and Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2021
Short-Term and Long-Term Debt [Abstract]  
Schedule of Debt As of December 31, 2021 2020 Short-Term Debt Short-term debt (1)$ 1,084 $ 497 Long-Term Debt, Excluding Current Portion 9.76% surplus note, due 2024$ 50 $ 50 6.56% surplus note, due 2028 500 500 LIBOR + 111 bps surplus note, due 2028 71 71 LIBOR + 226 bps surplus note, due 2028 593 611 6.03% surplus note, due 2028 750 750 LIBOR + 200 bps surplus note, due 2035 30 30 LIBOR + 155 bps surplus note, due 2037 25 25 4.20% surplus note, due 2037 50 50 LIBOR + 100 bps surplus note, due 2037 194 254 4.225% surplus note, due 2037 28 28 4.00% surplus note, due 2037 30 30 4.50% surplus note, due 2038 13 13 Total long-term debt$ 2,334 $ 2,412 (1)The short-term debt represents short-term notes payable to LNC.
Future Principal Payments 2022$ - 2023 - 2024 50 2025 - 2026 - Thereafter 2,284 Total$ 2,334
Credit facilities and letters of credit As of December 31, 2021 Expiration Maximum LOCs Date Available Issued Credit Facilities Five-year revolving credit facilityJune 19, 2026 $ 2,500 $ 10 LOC facility (1)August 26, 2031 983 926 LOC facility (1)October 1, 2031 920 920 Total $ 4,403 $ 1,856 (1)Our wholly-owned subsidiaries entered into irrevocable LOC facility agreements with third-party lenders supporting inter-company reinsurance agreements.