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
					Other Postretirement
	Pension Plans				Benefit Plans
Fair value of plan assets	$	71	$	77	$	10	$	9
Projected benefit obligation	77		82		6		6
Funded status	$	(6)	$	(5)	$	4	$	3
Amounts Recognized on the
Consolidated Balance Sheets
Other assets	$	–	$	–	$	4	$	3
Other liabilities	(6)		(5)		–		–
Net amount recognized	$	(6)	$	(5)	$	4	$	3
Weighted-Average Assumptions
Benefit obligations:
Weighted-average discount rate	5.44%		5.66%		5.45%		5.70%
Net periodic benefit cost:
Weighted-average discount rate	5.62%		3.07%		5.70%		3.73%
Expected return on plan assets	6.00%		5.00%		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	$	23	$	33
U.S. government bonds	22		17
CMBS	2		2
Common stock	21		22
Cash and invested cash	3		3
Other investments	10		9
Total	$	81	$	86

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)	$	695	$	623
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.