XML 60 R36.htm IDEA: XBRL DOCUMENT v3.3.1.900
Fair Value Measurements (tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Measurements disclosure  
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities reported at fair value are measured [Table Text Block]

 

(at December 31, 2015, in millions)
  Total   Level 1   Level 2   Level 3  

Invested assets:

                          

Fixed maturities

                          

U.S. Treasury securities and obligations of U.S. government and government agencies and authorities

   $ 2,194   $ 2,194   $ —   $ —  

Obligations of states, municipalities and political subdivisions

     31,411     —     31,398     13  

Debt securities issued by foreign governments

     1,873     —     1,873     —  

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities

     1,981     —     1,957     24  

All other corporate bonds

     23,089     —     22,915     174  

Redeemable preferred stock

     110     3     100     7  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total fixed maturities

     60,658     2,197     58,243     218  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Equity securities

                          

Public common stock

     543     543     —     —  

Non-redeemable preferred stock

     162     55     107     —  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total equity securities

     705     598     107     —  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Other investments

     56     18     —     38  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total

   $ 61,419   $ 2,813   $ 58,350   $ 256  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

(at December 31, 2014, in millions)
  Total   Level 1   Level 2   Level 3  

Invested assets:

                          

Fixed maturities

                          

U.S. Treasury securities and obligations of U.S. government and government agencies and authorities

   $ 2,053   $ 2,049   $ 4   $ —  

Obligations of states, municipalities and political subdivisions

     33,573     —     33,560     13  

Debt securities issued by foreign governments

     2,368     —     2,368     —  

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities

     2,213     —     2,203     10  

All other corporate bonds

     23,135     —     22,934     201  

Redeemable preferred stock

     132     2     122     8  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total fixed maturities

     63,474     2,051     61,191     232  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Equity securities

                          

Public common stock

     691     691     —     —  

Non-redeemable preferred stock

     208     82     126     —  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total equity securities

     899     773     126     —  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Other investments

     55     19     —     36  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹

Total

   $ 64,428   $ 2,843   $ 61,317   $ 268  
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹
—‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹ —‹
Changes in the Level 3 fair value category [Table Text Block]

 

 

(in millions)
  Fixed
Maturities		   Other
Investments		   Total  

Balance at December 31, 2014

   $ 232   $ 36   $ 268  

Total realized and unrealized investment gains (losses):

                    

Reported in net realized investment gains(1)

     1     2     3  

Reported in increases (decreases) in other comprehensive income

     (4 )   1     (3 )

Purchases, sales and settlements/maturities:

                    

Purchases

     202     1     203  

Sales

     (7 )   (2 )   (9 )

Settlements/maturities

     (41 )   —     (41 )

Gross transfers into Level 3

     21     —     21  

Gross transfers out of Level 3

     (186 )   —     (186 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance at December 31, 2015

   $ 218   $ 38   $ 256  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date

   $ —   $ (1 ) $ (1 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.

(in millions)
  Fixed
Maturities		   Other
Investments		   Total  

Balance at December 31, 2013

   $ 255   $ 34   $ 289  

Total realized and unrealized investment gains (losses):

                    

Reported in net realized investment gains(1)

     3     1     4  

Reported in increases (decreases) in other comprehensive income

     (2 )   1     (1 )

Purchases, sales and settlements/maturities:

                    

Purchases

     232     1     233  

Sales

     (1 )   (1 )   (2 )

Settlements/maturities

     (90 )   —     (90 )

Gross transfers into Level 3

     18     —     18  

Gross transfers out of Level 3

     (183 )   —     (183 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance at December 31, 2014

   $ 232   $ 36   $ 268  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date

   $ —   $ —   $ —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
Carrying value and fair value of financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such financial instruments are categorized [Table Text Block]

 

 

(at December 31, 2015, in millions)
  Carrying
Value		   Fair
Value		   Level 1   Level 2   Level 3  

Financial assets:

                                

Short-term securities

   $ 4,671   $ 4,671   $ 1,685   $ 2,958   $ 28  

Financial liabilities:

    
 		    
 		    
 		    
 		    
 		  

Debt

   $ 6,244   $ 7,180   $ —   $ 7,180   $ —  

Commercial paper

     100     100     —     100     —  


 

(at December 31, 2014, in millions)
  Carrying
Value		   Fair
Value		   Level 1   Level 2   Level 3  

Financial assets:

                                

Short-term securities

   $ 4,364   $ 4,364   $ 1,283   $ 3,042   $ 39  

Financial liabilities:

    
 		    
 		    
 		    
 		    
 		  

Debt

   $ 6,249   $ 7,522   $ —   $ 7,522   $ —  

Commercial paper

     100     100     —     100     —