Fundamentals - Annual Balance Sheet
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Assets: |
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December 31 |
2020 |
2019 |
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(In millions, except per share data) |
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Investments: |
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Fixed maturities, amortized cost of $38,963 and $38,157, less allowance for credit loss of $40 and $0 |
$44,646 |
$42,240 |
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Equity securities, cost of $1,456 and $1,244 |
1,561 |
1,306 |
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Limited partnership investments |
1,798 |
2,004 |
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Other invested assets, primarily mortgage loans, less allowance for credit loss of $26 and $0 |
1,165 |
1,072 |
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Short term investments |
4,674 |
4,628 |
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Total investments |
53,844 |
51,250 |
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Cash |
478 |
336 |
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Receivables |
7,833 |
7,675 |
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Property, plant and equipment |
10,451 |
15,568 |
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Goodwill |
785 |
767 |
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Deferred non-insurance warranty acquisition expenses |
3,068 |
2,840 |
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Deferred acquisition costs of insurance subsidiaries |
708 |
662 |
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Other assets |
3,069 |
3,145 |
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Total assets |
$80,236 |
$82,243 |
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Liabilities and Equity: |
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December 31 |
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(Dollar amounts in millions, except per share data) |
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Insurance reserves: |
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Claim and claim adjustment expense |
$22,706 |
$21,720 |
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Future policy benefits |
13,318 |
12,311 |
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Unearned premiums |
5,119 |
4,583 |
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Total insurance reserves |
41,143 |
38,614 |
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Payable to brokers |
92 |
108 |
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Short term debt |
37 |
77 |
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Long term debt |
10,072 |
11,456 |
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Deferred income taxes |
1,065 |
1,168 |
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Deferred non-insurance warranty revenue |
4,023 |
3,779 |
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Other liabilities |
4,623 |
5,111 |
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Total liabilities |
61,055 |
60,313 |
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Commitments and contingent liabilities |
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Shareholders' equity: |
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Preferred stock, $0.10 par value: |
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|
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Authorized - 100,000,000 shares |
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|
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Common stock, $0.01 par value: |
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|
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Authorized - 1,800,000,000 shares |
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|
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Issued – 269,360,973 and 291,210,222 shares |
3 |
3 |
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Additional paid-in capital |
3,133 |
3,374 |
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Retained earnings |
14,150 |
15,823 |
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Accumulated other comprehensive income (loss) |
581 |
(68) |
|
|
17,867 |
19,132 |
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Less treasury stock, at cost (150,000 and 240,000 shares) |
(7) |
(13) |
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Total shareholders' equity |
17,860 |
19,119 |
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Noncontrolling interests |
1,321 |
2,811 |
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Total equity |
19,181 |
21,930 |
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Total liabilities and equity |
$80,236 |
$82,243 |
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