XML 321 R154.htm IDEA: XBRL DOCUMENT v3.22.4
Capital Structure - Narrative (Details)
12 Months Ended
Dec. 31, 2022
USD ($)
director
$ / shares
shares
Dec. 31, 2021
USD ($)
$ / shares
shares
Dec. 31, 2020
USD ($)
Nov. 30, 2022
USD ($)
Feb. 03, 2021
Class of Stock [Line Items]          
Debt $ 7,964,000,000 $ 7,976,000,000      
Additional borrowing capacity under credit facility increase provision $ 500,000,000        
Maximum debt to capital ratio allowed under credit facility covenant (as a percent) 37.50%        
Credit facility, amount outstanding $ 0 0      
Interest paid on debt 323,000,000 321,000,000 $ 311,000,000    
Other liabilities and accrued expenses $ 371,000,000 $ 401,000,000      
Common stock          
Common stock, shares, issued (in shares) | shares 900,000,000 900,000,000      
Common stock, shares, outstanding (in shares) | shares 263,000,000 281,000,000      
Treasury stock, shares (in shares) | shares 637,000,000        
Reacquired shares (in shares) | shares 20,000,000        
Average cost of reacquired shares (in dollars per share) | $ / shares $ 126.56        
Reissued net shares under equity incentive plans (in shares) | shares 3,000,000        
Preferred stock          
Preferred stock, par or stated value per share (in dollars per share) | $ / shares $ 1 $ 1      
Period of issuance of common stock prior to dividend declaration date during which dividend declaration is prohibited 90 days        
Noncumulative Perpetual Preferred Stock          
Class of Stock [Line Items]          
Period after occurrence of certain tax and rating agency events in which redemption of debt in whole permissible 90 days        
Preferred stock          
Preferred stock, par or stated value per share (in dollars per share) | $ / shares $ 1.00        
Preferred stock, shares liquidation preference (in dollars per share) | $ / shares 25,000        
Preferred stock, redemption price (in dollars per share) | $ / shares $ 25,000        
Maximum          
Preferred stock          
Risk-based capital ratios as a percentage of action level risk-based capital 175.00%        
Percentage by which consolidated shareholders' equity should increase or decrease to avoid restriction on dividends 20.00%        
Maximum | Noncumulative Perpetual Preferred Stock          
Preferred stock          
Additional members of the board of directors | director 2        
Preferred stock, redemption price (in dollars per share) | $ / shares $ 25,500        
Minimum          
Preferred stock          
Collective risk-based capital ratios of subsidiaries as a percentage of net written premiums of insurance business 80.00%        
Percentage of decline in consolidated shareholders' equity from benchmark quarter 20.00%        
Minimum | Noncumulative Perpetual Preferred Stock          
Preferred stock          
Preferred stock, redemption price (in dollars per share) | $ / shares $ 25,000        
Commercial Paper          
Class of Stock [Line Items]          
Commercial Paper maximum borrowing capacity       $ 750,000,000  
Amount of commercial paper outstanding $ 0 $ 0      
5.100% Subordinated Debentures, due 2053          
Class of Stock [Line Items]          
Note stated interest rate (as a percent) 5.10%        
5.100% Subordinated Debentures, due 2053 | London Interbank Offered Rate (LIBOR)          
Class of Stock [Line Items]          
Interest rate spread over LIBOR (as a percent) 3.165%        
5.750% Subordinated Debentures, due 2053          
Class of Stock [Line Items]          
Note stated interest rate (as a percent) 5.75%        
5.750% Subordinated Debentures, due 2053 | London Interbank Offered Rate (LIBOR)          
Class of Stock [Line Items]          
Interest rate spread over LIBOR (as a percent) 2.938%        
Subordinated Debentures          
Class of Stock [Line Items]          
Note stated interest rate (as a percent)         7.625%
Minimum principal outstanding amount for redemption of debt in whole or in part $ 25,000,000        
Period after occurrence of certain tax and rating agency events in which redemption of debt in whole permissible 90 days        
Maximum period for deferment of interest payment 5 years        
6.500% Junior Subordinated Debentures, due 2067          
Class of Stock [Line Items]          
Note stated interest rate (as a percent) 6.50%        
Debt $ 500,000,000        
6.500% Junior Subordinated Debentures, due 2067 | London Interbank Offered Rate (LIBOR)          
Class of Stock [Line Items]          
Interest rate spread over LIBOR (as a percent) 2.12%        
The Debentures          
Class of Stock [Line Items]          
Maximum period for deferment of interest payment 10 years        
Reserved common stock authorized and unissued for debentures obligations (in shares) | shares 75,000,000        
7.45% Senior Notes, due 2019          
Class of Stock [Line Items]          
Threshold percentage of repurchase or redemption of outstanding principal debentures for non applicability of promises and covenants contained in the new RCC 10.00%        
Period within which threshold percentage of outstanding principal of debentures is to be purchased for non applicability of promises and covenants contained in the new RCC 1 year        
Specified period within which percentage of outstanding principal of debentures is to be purchased for non applicability of promises and covenants contained in the new RCC 10 years        
7.45% Senior Notes, due 2019 | Maximum          
Class of Stock [Line Items]          
Percentage of repurchase or redemption of outstanding principal debentures within specified period for non applicability of promises and covenants contained in the new RCC 25.00%