Fundamentals - Annual Balance Sheet

Assets:
December 31	2022	2021
(Dollar amounts in millions, except per share data)
Investments:
Fixed maturities, amortized cost of $41,102 and $39,952, less allowance for credit loss of $1 and $18	$37,697	$44,380
Equity securities, cost of $1,161 and $1,546	1,139	1,674
Limited partnership investments	1,954	1,933
Other invested assets, primarily mortgage loans, less allowance for credit loss of $24 and $16	1,124	1,091
Short term investments	4,854	4,860
Total investments	46,768	53,938
Cash	532	621
Receivables	9,403	9,273
Property, plant and equipment	10,027	9,888
Goodwill	346	349
Deferred non-insurance warranty acquisition expenses	3,671	3,476
Deferred acquisition costs of insurance subsidiaries	806	737
Other assets	3,941	3,344
Total assets	$75,494	$81,626

Liabilities and Equity:
Insurance reserves:
Claim and claim adjustment expense	$25,099	$24,174
Future policy benefits	10,151	13,236
Unearned premiums	6,374	5,761
Total insurance reserves	41,624	43,171
Payable to brokers	133	90
Short term debt	854	93
Long term debt	8,165	8,986
Deferred income taxes	243	1,079
Deferred non-insurance warranty revenue	4,714	4,503
Other liabilities	4,283	4,529
Total liabilities	60,016	62,451

Commitments and contingent liabilities

Shareholders’ equity:
Preferred stock, $0.10 par value:
Authorized – 100,000,000 shares
Common stock, $0.01 par value:
Authorized – 1,800,000,000 shares
Issued – 236,159,866 and 248,467,051 shares	2	2
Additional paid-in capital	2,748	2,885
Retained earnings	15,144	14,776
Accumulated other comprehensive income (loss)	(3,284)	186
	14,610	17,849
Less treasury stock, at cost (198,875 and 50,000 shares)	(12)	(3)
Total shareholders’ equity	14,598	17,846
Noncontrolling interests	880	1,329
Total equity	15,478	19,175
Total liabilities and equity	$ 75,494	$ 81,626

For complete copies of our financial results, please refer to our SEC Filings