Fundamentals - Annual Balance Sheet
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Assets: |
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December 31 |
2021 |
2020 |
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(In millions, except per share data) |
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Investments: |
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Fixed maturities, amortized cost of $39,952 and $38,963, less allowance for credit loss of $18 and $40 |
$44,380 |
$44,646 |
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Equity securities, cost of $1,546 and $1,456 |
1,674 |
1,561 |
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Limited partnership investments |
1,933 |
1,798 |
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Other invested assets, primarily mortgage loans, less allowance for credit loss of $16 and $26 |
1,091 |
1,165 |
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Short term investments |
4,860 |
4,674 |
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Total investments |
53,938 |
53,844 |
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Cash |
621 |
478 |
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Receivables |
9,273 |
7,833 |
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Property, plant and equipment |
9,888 |
10,451 |
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Goodwill |
349 |
785 |
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Deferred non-insurance warranty acquisition expenses |
3,476 |
3,068 |
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Deferred acquisition costs of insurance subsidiaries |
737 |
708 |
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Other assets |
3,344 |
3,069 |
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Total assets |
$81,626 |
$80,236 |
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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 |
$24,174 |
$22,706 |
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Future policy benefits |
13,236 |
13,318 |
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Unearned premiums |
5,761 |
5,119 |
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Total insurance reserves |
43,171 |
41,143 |
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Payable to brokers |
90 |
92 |
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Short term debt |
93 |
37 |
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Long term debt |
8,986 |
10,072 |
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Deferred income taxes |
1,079 |
1,065 |
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Deferred non-insurance warranty revenue |
4,503 |
4,023 |
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Other liabilities |
4,529 |
4,623 |
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Total liabilities |
62,451 |
61,055 |
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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 – 248,467,051 and 269,360,973 shares |
2 |
3 |
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Additional paid-in capital |
2,885 |
3,133 |
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Retained earnings |
14,776 |
14,150 |
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Accumulated other comprehensive income |
186 |
581 |
|
|
17,849 |
17,867 |
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Less treasury stock, at cost (50,000 and 150,000 shares) |
(3) |
(7) |
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Total shareholders' equity |
17,846 |
17,860 |
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Noncontrolling interests |
1,329 |
1,321 |
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Total equity |
19,175 |
19,181 |
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Total liabilities and equity |
$81,626 |
$80,236 |
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