XML 89 R46.htm IDEA: XBRL DOCUMENT v3.26.1
Fair Value Measurements - Significant Unobservable Inputs Securities (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 45,632 $ 46,041
Other Short-term Investments 4,223 4,353
Equity Securities, FV-NI 488 492
ABS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 4,668 4,663
Collateralized Loan Obligations [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 3,330 3,316
CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 2,232 2,328
Corporate    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 23,305 23,076
RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 6,092 6,178
Significant
Unobservable
Inputs
(Level 3)    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 3,211 3,372
Other Short-term Investments 688 382
Equity Securities, FV-NI 123 106
Significant
Unobservable
Inputs
(Level 3) | ABS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 163 167
Significant
Unobservable
Inputs
(Level 3) | Collateralized Loan Obligations [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 233 217
Significant
Unobservable
Inputs
(Level 3) | CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 116 115
Significant
Unobservable
Inputs
(Level 3) | Corporate    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 2,694 2,866
Significant
Unobservable
Inputs
(Level 3) | RMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale 5 7
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | ABS | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 163 $ 167
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | ABS | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 4.69 4.34
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | ABS | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 9.41 8.43
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | ABS | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 5.68 5.30
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 233 $ 217
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 2.79 2.70
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 10.41 10.21
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Collateralized Loan Obligations [Member] | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 5.56 5.44
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | CMBS | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 116 $ 115
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | CMBS | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 2 2.45
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | CMBS | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 9.25 10
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | CMBS | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 4.04 3.97
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Corporate | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 2,593 $ 2,765
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Corporate | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 1.05 0.88
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Corporate | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 14.45 8.11
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Corporate | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 3.08 2.89
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-Sale $ 5 $ 7
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.84 0.88
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Minimum | Measurement Input, Constant Prepayment Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.02 0.02
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Minimum | Measurement Input, Default Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.01 0.01
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Minimum | Measurement Input, Loss Severity [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.37 0.37
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 2.01 5.51
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Maximum | Measurement Input, Constant Prepayment Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.05 0.05
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Maximum | Measurement Input, Default Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.05 0.05
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Maximum | Measurement Input, Loss Severity [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.80 0.80
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 1.14 1.72
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Weighted Average [Member] | Measurement Input, Constant Prepayment Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.04 0.04
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Weighted Average [Member] | Measurement Input, Default Rate [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.02 0.02
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | RMBS | Weighted Average [Member] | Measurement Input, Loss Severity [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Securities, Available-for-sale, Measurement Input 0.51 0.50
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Short-term investments | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Other Short-term Investments $ 688 $ 382
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Short-term investments | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Instrument, Measurement Input 1.54 1.64
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Short-term investments | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Instrument, Measurement Input 4.88 1.86
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Short-term investments | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Debt Instrument, Measurement Input 1.85 1.77
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Equity Securities [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity Securities, FV-NI $ 14 $ 14
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Equity Securities [Member] | Valuation, Cost Approach    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity Securities, FV-NI $ 73 $ 56
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Equity Securities [Member] | Minimum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity Securities, FV-NI, Measurement Input 14.22 13.70
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Equity Securities [Member] | Maximum | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity Securities, FV-NI, Measurement Input 14.22 13.70
Significant
Unobservable
Inputs
(Level 3) | Fair Value, Recurring [Member] | Equity Securities [Member] | Weighted Average [Member] | Measurement Input, Credit Spread [Member] | Valuation Technique, Discounted Cash Flow    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Equity Securities, FV-NI, Measurement Input 14.22 13.70