Financing Activities |
9 Months Ended |
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Sep. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt Disclosure | FINANCING ACTIVITIES 2026 Subordinated Debt Issuance On March 3, 2026, the Company issued 6.375% fixed-rate reset subordinated debentures due 2056 with a face amount of $400 million and used the net proceeds for general corporate purposes. Capitalized issuance costs were $5 million. 2056 Subordinated Debt Redemption On May 1, 2026, a notice of redemption was issued to the holders of all the Company’s outstanding $400 million aggregate principal amount 5.75% Fixed-to-Floating Rate Subordinated Debentures due 2056 (the “2056 Debentures”) in accordance with the terms of the indenture governing the 2056 Debentures. The 2056 Debentures were redeemed in full on June 15, 2026, at a redemption price equal to 100% of the outstanding principal amount thereof, plus accrued and unpaid interest thereon. 2026 Senior Notes Maturity The Company’s $400 million 3.95% Senior Debentures due 2026 matured and were paid in full on September 15, 2026.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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