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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, available-for-sale ("AFS"), at fair value (amortized cost of $40,258 and $40,788, and allowance for credit losses ("ACL") of $13 and $1) $ 37,887 $ 42,847
Fixed maturities, at fair value using the fair value option ("FVO") 342 160
Equity securities, at fair value 1,728 2,094
Mortgage loans (net of ACL of $36 and $29) 5,852 5,383
Limited partnerships and other alternative investments 3,856 3,353
Other investments 203 215
Short-term investments 2,524 3,697
Total investments 52,392 57,749
Cash 258 205
Restricted cash 90 132
Premiums receivable and agents' balances (net of ACL of $107 and $105) 4,996 4,445
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $105 and $99) 6,726 6,523
Deferred policy acquisition costs 975 881
Deferred income taxes, net 1,191 270
Goodwill 1,911 1,911
Property and equipment, net 970 1,027
Other intangible assets, net 813 858
Other assets 2,080 2,577
Total assets 72,402 76,578
Liabilities    
Unpaid losses and loss adjustment expenses 40,032 39,659
Other policyholder funds and benefits payable 664 687
Unearned premiums 7,838 7,194
Long-term debt 4,355 4,944
Other liabilities 4,711 5,655
Total liabilities 58,176 58,735
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at June 30, 2022 and December 31, 2021, aggregate liquidation preference of $345 334 334
Common Stock, Value, Issued 4 4
Additional paid-in capital 3,264 3,309
Retained earnings 16,388 15,764
Treasury Stock, Value (2,502) (1,740)
Accumulated other comprehensive income (loss) ("AOCI") , net of tax (3,262) 172
Total stockholders’ equity 14,226 17,843
Total liabilities and stockholders’ equity 72,402 76,578
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $105 and $99) $ 105 $ 99