Equity (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Schedule of Stock by Class [Table Text Block]

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

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730
Issuance of common stock	—	—	—
Common stock acquired	—	219,116	(219,116)
Stock-based compensation (1)	—	(55,654)	55,654
Balance, June 30, 2022	85,310,598	18,303,330	67,007,268

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2020	85,310,598	17,353,697	67,956,901
Issuance of common stock	—	—	—
Common stock acquired	—	—	—
Stock-based compensation (1)	—	(40,036)	40,036
Balance, June 30, 2021	85,310,598	17,313,661	67,996,937

(1)Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs.

Components of Accumulated Other Comprehensive Income

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2022 and 2021 are as follows (dollars in millions):

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2021	$	(9)	$	3,701	$	(50)	$	3,642
Other comprehensive income (loss) before reclassifications	(4)		(9,459)		(3)		(9,466)
Amounts reclassified to (from) AOCI	—		308		2		310
Deferred income tax benefit (expense)	(26)		1,981		—		1,955
Balance, June 30, 2022	$	(39)	$	(3,469)	$	(51)	$	(3,559)

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2020	$	(69)	$	5,500	$	(72)	$	5,359
Other comprehensive income (loss) before reclassifications	55		(1,607)		(3)		(1,555)
Amounts reclassified to (from) AOCI	—		(154)		3		(151)
Deferred income tax benefit (expense)	(6)		394		—		388
Balance, June 30, 2021	$	(20)	$	4,133	$	(72)	$	4,041

(1)Includes cash flow hedges of $(206) and $(22) as of June 30, 2022 and December 31, 2021, respectively, and $(40) and $(49) as of June 30, 2021 and December 31, 2020, respectively. See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

Reclassification Out Of Accumulated Other Comprehensive Income

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2022 and 2021 (dollars in millions):

	Amount Reclassified from AOCI
	Three months ended June 30,				Six months ended June 30,
Details about AOCI Components	2022		2021		2022		2021		Affected Line Item in Statements of Income
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities	$	(68)	$	26	$	(103)	$	183	Investment related gains (losses), net
Cash flow hedges – Interest rate	(2)		—		(2)		(2)		(1)
Cash flow hedges – Currency/Interest rate	(1)		(4)		(2)		(4)		(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	(99)		19		(201)		(23)		(2)
Total	(170)		41		(308)		154
Provision for income taxes	35		(9)		64		(33)
Net unrealized gains (losses), net of tax	$	(135)	$	32	$	(244)	$	121
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	$	1	$	1	(3)
Actuarial gains (losses)	(2)		(3)		(3)		(4)		(3)
Total	(1)		(2)		(2)		(3)
Provision for income taxes	—		1		—		1
Amortization of defined benefit plans, net of tax	$	(1)	$	(1)	$	(2)	$	(2)
Total reclassifications for the period	$	(136)	$	31	$	(246)	$	119

(1)See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

(2)This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2021 Annual Report for additional details.

(3)This AOCI component is included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.