Equity (Tables)

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Stock by Class [Table Text Block]

The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:

	Issued	Held In Treasury		Outstanding
Balance, December 31, 2016	79,137,758	14,835,256		64,302,502
Common Stock acquired	—	208,680		(208,680	)
Stock-based compensation (1)	—	(358,273	)	358,273
Balance, December 31, 2017	79,137,758	14,685,663		64,452,095
Common Stock acquired	—	1,932,055		(1,932,055	)
Stock-based compensation (1)	—	(294,328	)	294,328
Balance, December 31, 2018	79,137,758	16,323,390		62,814,368
Common Stock acquired	—	546,614		(546,614	)
Stock-based compensation (1)	—	(388,348	)	388,348
Balance, December 31, 2019	79,137,758	16,481,656		62,656,102

(1)

Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Class of Treasury Stock [Table Text Block]

The following table summarizes the Company’s current share repurchase program activity for the year ended 2019 (dollar amounts in millions, except for the number of shares and per share amounts):

Year of Repurchase	Shares Repurchased	Amount Paid		Average Per Share
2019	546,614	$	80	$	146.00

Schedule of Comprehensive Income (Loss) [Table Text Block]

Accumulated other comprehensive income (loss)

The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):

For the year ended December 31, 2019:

	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	113		$	(10	)	$	103
Foreign currency swap	(33		)	7			(26		)
Net foreign currency translation adjustments	80			(3		)	77
Unrealized gains on investments:(1)
Unrealized net holding gains arising during the year	3,208			(698		)	2,510
Less: Reclassification adjustment for net gains realized in net income	84			(17		)	67
Net unrealized gains	3,124			(681		)	2,443
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain (loss) arising during the period	(23		)	5			(18		)
Unrealized pension and postretirement benefits, net	(24		)	5			(19		)
Other comprehensive income (loss)	$	3,180		$	(679	)	$	2,501

For the year ended December 31, 2018:

	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	(148	)	$	(1	)	$	(149	)
Foreign currency swap	87			(18		)	69
Net foreign currency translation adjustments	(61		)	(19		)	(80		)
Unrealized gains on investments:(1)
Unrealized net holding gains arising during the year	(1,834		)	394			(1,440		)
Less: Reclassification adjustment for net gains realized in net income	(122		)	26			(96		)
Net unrealized gains	(1,712		)	368			(1,344		)
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	(1		)	—			(1		)
Net gain arising during the period	1			—			1
Unrealized pension and postretirement benefits, net	—			—			—
Other comprehensive income (loss)	$	(1,773	)	$	349		$	(1,424	)

For the year ended December 31, 2017:

	Before-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	75		$	25		$	100
Foreign currency swap	(48		)	17			(31		)
Net foreign currency translation adjustments	27			42			69
Unrealized gains on investments:(1)
Unrealized net holding gains arising during the year	1,030			(314		)	716
Less: Reclassification adjustment for net gains realized in net income	25			(7		)	18
Net unrealized gains	1,005			(307		)	698
Change in unrealized OTTI on fixed maturity securities	—			—			—
Unrealized pension and postretirement benefits:
Net prior service cost arising during the year	12			(4		)	8
Net gain arising during the period	(11		)	4			(7		)
Unrealized pension and postretirement benefits, net	1			—			1
Other comprehensive income (loss)	$	1,033		$	(265	)	$	768

(1)

Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Components Of Accumulated Other Comprehensive Income [Table Text Block]

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):

For the years ended December 31,	2019			2018			2017
Change in net unrealized appreciation (depreciation) on:
Fixed maturity securities available-for-sale	$	3,258		$	(1,759	)	$	988
Other investments(1)	(37		)	20			25
Effect on unrealized appreciation on:
Deferred policy acquisition costs	(98		)	27			(8		)
Net unrealized appreciation (depreciation)	$	3,123		$	(1,712	)	$	1,005

(1)

Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The balance of and changes in each component of AOCI were as follows (dollars in millions):

 

	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments (1)			Pension and Postretirement Benefits			Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2016	$	(172	)	$	1,355		$	(44	)	$	1,139
OCI before reclassifications	27			1,039			(4		)	1,062
Amounts reclassified from AOCI	—			(34		)	5			(29		)
Deferred income tax benefit (expense)	42			(307		)	—			(265		)
Adoption of new accounting standard	17			148			(8		)	157
Balance, December 31, 2017	(86		)	2,201			(51		)	2,064
OCI before reclassifications	(60		)	(1,861		)	(5		)	(1,926		)
Amounts reclassified from AOCI	—			148			5			153
Deferred income tax benefit (expense)	(19		)	368			—			349
Adoption of new accounting standard	(4		)	—			—			(4		)
Balance, December 31, 2018	(169		)	856			(51		)	636
OCI before reclassifications	80			3,306			(28		)	3,358
Amounts reclassified from AOCI	—			(182		)	4			(178		)
Deferred income tax benefit (expense)	(3		)	(681		)	5			(679		)
Balance, December 31, 2019	$	(92	)	$	3,299		$	(70	)	$	3,137

(1)

Includes cash flow hedges of $(26), $9 and $3 as of December 31, 2019, 2018 and 2017, respectively. See Note 5 for additional information on cash flow hedges.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2019 and 2018 (dollars in millions):

	Amount Reclassified from AOCI
Details about AOCI Components	2019			2018			Affected Line Item in  Statement of Income
Net unrealized investment gains (losses):
Net unrealized gains and losses on available-for-sale securities	$	84		$	(122	)	Investment related gains (losses), net
Cash flow hedges - Interest rate	1			—			(1)
Cash flow hedges - Currency/Interest rate	—			—			(1)
Cash flow hedges - Forward bond purchase commitments	—			—			(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	97			(27		)	(2)
Total	182			(149		)
Provision for income taxes	(38		)	31
Net unrealized gains (losses), net of tax	$	144		$	(118	)
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1		$	1		(3)
Actuarial gains/(losses)	(5		)	(6		)	(3)
Total	(4		)	(5		)
Provision for income taxes	1			1
Amortization of defined benefit plans, net of tax	$	(3	)	$	(4	)
Total reclassifications for the period	$	141		$	(122	)

(1) See Note 5 for information on cash flow hedges.

(2) See Note 8 for information on deferred policy acquisition costs.

(3)

See Note 10 for information on employee benefit plans.