v3.25.2
Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2025
Accumulated Other Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (AOCI) includes changes in unrealized gains and losses on investments, changes in pension obligations and changes in life policy reserves, reinsurance recoverable and other as follows:

(Dollars in millions)Three months ended June 30,
20252024
Before taxIncome taxNetBefore taxIncome taxNet
Investments:
AOCI, beginning of period$(486)$(105)$(381)$(625)$(134)$(491)
OCI before investment gains and losses, net, recognized in net income16 3 13 (93)(21)(72)
Investment gains and losses, net, recognized in net income12 3 9 18 4 14 
OCI28 6 22 (75)(17)(58)
AOCI, end of period$(458)$(99)$(359)$(700)$(151)$(549)
Pension obligations:
AOCI, beginning of period$74 $17 $57 $30 $8 $22 
OCI excluding amortization recognized in net income— — — — — — 
Amortization recognized in net income(1)— (1)1 — 1 
OCI(1)— (1)1 — 1 
AOCI, end of period$73 $17 $56 $31 $8 $23 
Life policy reserves, reinsurance recoverable and other:
AOCI, beginning of period$68 $15 $53 $34 $7 $27 
OCI before investment gains and losses, net, recognized in net income1 — 1 37 8 29 
Investment gains and losses, net, recognized in net income— — — — — — 
OCI1 — 1 37 8 29 
AOCI, end of period$69 $15 $54 $71 $15 $56 
Summary of AOCI:
AOCI, beginning of period$(344)$(73)$(271)$(561)$(119)$(442)
Investments OCI28 6 22 (75)(17)(58)
Pension obligations OCI(1)— (1)1 — 1 
Life policy reserves, reinsurance recoverable and other OCI1 — 1 37 8 29 
Total OCI28 6 22 (37)(9)(28)
AOCI, end of period$(316)$(67)$(249)$(598)$(128)$(470)
(Dollars in millions)Six months ended June 30,
20252024
Before taxIncome taxNetBefore taxIncome taxNet
Investments:
AOCI, beginning of period$(553)$(119)$(434)$(570)$(123)$(447)
OCI before investment gains and losses, net, recognized in net income81 17 64 (158)(34)(124)
Investment gains and losses, net, recognized in net income14 3 11 28 6 22 
OCI95 20 75 (130)(28)(102)
AOCI, end of period$(458)$(99)$(359)$(700)$(151)$(549)
Pension obligations:
AOCI, beginning of period$75 $17 $58 $30 $8 $22 
OCI excluding amortization recognized in net income— — — — — — 
Amortization recognized in net income(2)— (2)1 — 1 
OCI(2)— (2)1 — 1 
AOCI, end of period$73 $17 $56 $31 $8 $23 
Life policy reserves, reinsurance recoverable and other:
AOCI, beginning of period$85 $18 $67 $(13)$(3)$(10)
OCI before investment gains and losses, net, recognized in net income(16)(3)(13)84 18 66 
Investment gains and losses, net, recognized in net income— — — — — — 
OCI(16)(3)(13)84 18 66 
AOCI, end of period$69 $15 $54 $71 $15 $56 
Summary of AOCI:
AOCI, beginning of period$(393)$(84)$(309)$(553)$(118)$(435)
Investments OCI95 20 75 (130)(28)(102)
Pension obligations OCI(2)— (2)1 — 1 
Life policy reserves, reinsurance recoverable and other OCI(16)(3)(13)84 18 66 
Total OCI77 17 60 (45)(10)(35)
AOCI, end of period$(316)$(67)$(249)$(598)$(128)$(470)