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Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour |
Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> Amortization expense of intangible assets was $ 21 million, $ 12 million and $ 13 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $ 21 million in 2025, $ 20 million in 2026, $ 17 million in 2027, $ 9 million in 2028 and $ 9 million in 2029. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $ 2 million in 2025, $ 1 million in 2026, $ 1 million in 2027, $ 1 million in 2028 and $ 1 million in 2029. </context> | us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 2.65 | monetaryItemType | text: <entity> 2.65 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:WorkersCompensationLiabilityCurrentAndNoncurrent |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 2.68 | monetaryItemType | text: <entity> 2.68 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:WorkersCompensationLiabilityCurrentAndNoncurrent |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 1.07 | monetaryItemType | text: <entity> 1.07 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDiscountDeductedFromReserves |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 1.10 | monetaryItemType | text: <entity> 1.10 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDiscountDeductedFromReserves |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 44 | monetaryItemType | text: <entity> 44 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers’ compensation insurance and workers’ compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5 % to 5.0 % at both December 31, 2024 and 2023. Total reserves net of the discount were $ 2.65 billion and $ 2.68 billion, and the related amount of discount was $ 1.07 billion and $ 1.10 billion, at December 31, 2024 and 2023, respectively. Accretion of the discount is reported as part of “claims and claim adjustment expenses” in the consolidated statement of income and was $ 44 million, $ 45 million and $ 46 million for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:AccretionExpense |
estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. | text | 548 | monetaryItemType | text: <entity> 548 </entity> <entity type> monetaryItemType </entity type> <context> estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. | text | 44 | monetaryItemType | text: <entity> 44 </entity> <entity type> monetaryItemType </entity type> <context> estimated claims and claim adjustment expenses incurred included $ 548 million of net favorable development for claims arising in prior years, including $ 709 million of net favorable prior year reserve development and $ 44 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
. Net favorable prior year reserve development in 2024 totaled $ 90 million, primarily driven by (i) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years, partially offset by (ii) higher than expected loss experience in the general liability product line (excluding asbestos) for recent accident years, (iii) an addition to asbestos reserves of $ 242 million and (iv) additions to other reserves related to run-off operations. | text | 242 | monetaryItemType | text: <entity> 242 </entity> <entity type> monetaryItemType </entity type> <context> . Net favorable prior year reserve development in 2024 totaled $ 90 million, primarily driven by (i) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years, partially offset by (ii) higher than expected loss experience in the general liability product line (excluding asbestos) for recent accident years, (iii) an addition to asbestos reserves of $ 242 million and (iv) additions to other reserves related to run-off operations. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. | text | 38 | monetaryItemType | text: <entity> 38 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, estimated claims and claim adjustment expenses incurred included $ 38 million of net favorable development for claims arising in prior years, including $ 143 million of net favorable prior year reserve development and $ 45 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
. Net unfavorable prior year reserve development in 2023 totaled $ 289 million, primarily driven by (i) higher than expected loss experience in the domestic operations’ general liability product line (excluding asbestos) for multiple accident years, including additions to reserves attributable to childhood sexual molestation and environmental claims in the Company’s run-off operations, (ii) an addition to asbestos reserves of $ 284 million and (iii) higher than expected loss experience in the domestic operations’ commercial automobile product line for recent accident years, partially offset by (iv) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> . Net unfavorable prior year reserve development in 2023 totaled $ 289 million, primarily driven by (i) higher than expected loss experience in the domestic operations’ general liability product line (excluding asbestos) for multiple accident years, including additions to reserves attributable to childhood sexual molestation and environmental claims in the Company’s run-off operations, (ii) an addition to asbestos reserves of $ 284 million and (iii) higher than expected loss experience in the domestic operations’ commercial automobile product line for recent accident years, partially offset by (iv) better than expected loss experience in the domestic operations’ workers’ compensation product line for multiple accident years. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. | text | 537 | monetaryItemType | text: <entity> 537 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, estimated claims and claim adjustment expenses incurred included $ 537 million of net favorable development for claims arising in prior years, including $ 649 million of net favorable prior year reserve development and $ 46 million of accretion of discount that impacted the Company’s results of operations. </context> | us-gaap:AccretionExpense |
- an addition of $ 212 million, primarily in the domestic operations’ general liability product line; | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> - an addition of $ 212 million, primarily in the domestic operations’ general liability product line; </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2024 were $ 8.00 billion. | text | 8.00 | monetaryItemType | text: <entity> 8.00 </entity> <entity type> monetaryItemType </entity type> <context> Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2024 were $ 8.00 billion. </context> | us-gaap:ReinsuranceRecoverablesOnPaidAndUnpaidLosses |
At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. | text | 1.72 | monetaryItemType | text: <entity> 1.72 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNet |
At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. | text | 1.76 | monetaryItemType | text: <entity> 1.76 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, the Company’s claims and claim adjustment expense reserves included $ 1.72 billion and $ 1.76 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNet |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 282 | monetaryItemType | text: <entity> 282 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 245 | monetaryItemType | text: <entity> 245 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 242 | monetaryItemType | text: <entity> 242 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. | text | 212 | monetaryItemType | text: <entity> 212 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2024, the Company completed its annual in-depth asbestos claim review. While the latest available government data continue to reflect a declining trend in deaths caused by mesothelioma, the number of policyholders with open asbestos claims was relatively flat compared to 2023. Net asbestos paid claims and claim adjustment expenses in 2024, 2023 and 2022 were $ 282 million, $ 212 million and $ 245 million, respectively. Payments on behalf of these policyholders continue to be influenced by the factors described above, including an increase in severity for certain policyholders and a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally sued and/or primary targets of asbestos litigation. The completion of the analyses described above and the annual review in the third quarters of 2024, 2023 and 2022 resulted in $ 242 million, $ 284 million and $ 212 million increases, respectively, to the Company’s net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company’s estimate of projected settlement and defense costs related to a broad number of policyholders. The increase in the estimate of projected settlement and defense costs primarily resulted from payment trends that continue to be higher than previously anticipated due to the continued high level of mesothelioma claim filings and the impact of the current litigation environment surrounding those claims discussed above. The 2023 charge also included an additional increase to strengthen the Company’s carried reserve position relative to the range of reasonable estimates. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 78 | monetaryItemType | text: <entity> 78 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. | text | 132 | monetaryItemType | text: <entity> 132 </entity> <entity type> monetaryItemType </entity type> <context> exposures, are involved in fewer hazardous waste sites and are lower tier defendants than policyholders presenting such claims in the past. Moreover, more efficient clean-up technologies have reduced clean-up costs in many instances depending on the remedy chosen at sites. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, inflationary impacts on consulting and contractor costs, increased involvement of regulatory agencies and costs of their involvement, and the application of more stringent cleanup standards, including on emerging contaminants, has contributed to reserve development on existing environmental claims. Additionally, the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2024, 2023 and 2022, the Company increased its net environmental reserves by $ 78 million, $ 93 million and $ 132 million, respectively. </context> | us-gaap:LiabilityForAsbestosAndEnvironmentalClaimsNetPeriodIncreaseDecrease |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentFaceAmount |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 5.45 | percentItemType | text: <entity> 5.45 </entity> <entity type> percentItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 738 | monetaryItemType | text: <entity> 738 </entity> <entity type> monetaryItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:ProceedsFromDebtNetOfIssuanceCosts |
On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> On May 25, 2023, the Company issued $ 750 million aggregate principal amount of 5.45 % senior notes that will mature on May 25, 2053. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $ 738 million. Interest on the senior notes is payable semi-annually in arrears on May 25 and November 25. Prior to November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100 % of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding November 25, 2052 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 25 basis points. On or after November 25, 2052, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100 % of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 4.59 | percentItemType | text: <entity> 4.59 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 5.36 | percentItemType | text: <entity> 5.36 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 4.29 | percentItemType | text: <entity> 4.29 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
—The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. | text | 5.34 | percentItemType | text: <entity> 5.34 </entity> <entity type> percentItemType </entity type> <context> —The Company maintains an $ 800 million commercial paper program. Interest rates on commercial paper issued in 2024 ranged from 4.59 % to 5.36 %, and in 2023 ranged from 4.29 % to 5.34 %. </context> | us-gaap:LineOfCreditFacilityInterestRateDuringPeriod |
The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. | text | 7.75 | percentItemType | text: <entity> 7.75 </entity> <entity type> percentItemType </entity type> <context> The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. | text | 6.375 | percentItemType | text: <entity> 6.375 </entity> <entity type> percentItemType </entity type> <context> The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings Inc. (TIGHI). The guarantees pertain to the $ 200 million 7.75 % notes due 2026 and the $ 500 million 6.375 % notes due 2033. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 125 | monetaryItemType | text: <entity> 125 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour |
—Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . | text | 0 | monetaryItemType | text: <entity> 0 </entity> <entity type> monetaryItemType </entity type> <context> —Other than commercial paper, the amount of debt obligations that become due in each of the next five years is as follows: 2025, $ 0 ; 2026, $ 200 million; 2027, $ 125 million; 2028, $ 0 ; and 2029, $ 0 . </context> | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 85 | percentItemType | text: <entity> 85 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 147.5 | percentItemType | text: <entity> 147.5 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. | text | 110 | percentItemType | text: <entity> 110 </entity> <entity type> percentItemType </entity type> <context> On June 15, 2022, the Company entered into to a five-year , $ 1.0 billion revolving credit agreement with a syndicate of financial institutions, replacing its five-year , $ 1.0 billion credit agreement that was due to expire on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15 % of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25 % of total capital), less goodwill and other intangible assets. That threshold is fixed during the term of the credit agreement at an amount equal to $ 13.9 billion ( 57.5 % of the Company’s net worth at March 31, 2022). In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which would occur upon the acquisition of 35 % or more of the Company’s voting stock or certain changes in the composition of the Company’s Board of Directors. At December 31, 2024, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from the Secured Overnight Financing Rate ( SOFR ) plus 85 basis points (including a credit spread adjustment) to SOFR plus 147.5 basis points (including a credit spread adjustment), depending on the Company’s credit ratings. At December 31, 2024, that cost would have been SOFR plus 110 basis points (including a credit spread adjustment), had there been any amounts outstanding under the credit agreement. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The Company has uncollateralized letters of credit with an aggregate limit of $ 306 million at December 31, 2024, including $ 260 million that provides a portion of the capital needed to support the Company’s obligations at Lloyd’s. | text | 306 | monetaryItemType | text: <entity> 306 </entity> <entity type> monetaryItemType </entity type> <context> The Company has uncollateralized letters of credit with an aggregate limit of $ 306 million at December 31, 2024, including $ 260 million that provides a portion of the capital needed to support the Company’s obligations at Lloyd’s. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. </context> | us-gaap:PreferredStockSharesAuthorized |
The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. </context> | us-gaap:ExcessStockSharesAuthorized |
The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. | text | five million | sharesItemType | text: <entity> five million </entity> <entity type> sharesItemType </entity type> <context> The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. </context> | us-gaap:PreferredStockSharesAuthorized |
The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. | text | 4.4 | sharesItemType | text: <entity> 4.4 </entity> <entity type> sharesItemType </entity type> <context> The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. </context> | us-gaap:TreasuryStockSharesAcquired |
The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. </context> | us-gaap:TreasuryStockValueAcquiredCostMethod |
The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. | text | 225.44 | perShareItemType | text: <entity> 225.44 </entity> <entity type> perShareItemType </entity type> <context> The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. </context> | us-gaap:TreasuryStockAcquiredAverageCostPerShare |
The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. | text | 5.04 | monetaryItemType | text: <entity> 5.04 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company’s financial position, earnings, share price, catastrophe losses, maintaining capital levels appropriate for the Company’s business operations, changes in levels of written premiums, funding of the Company’s qualified pension plan, capital requirements of the Company’s operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions, changes in tax laws and other factors. In April 2023, the Board of Directors approved a share repurchase authorization that added an additional $ 5.0 billion of repurchase capacity. During 2024, the Company repurchased 4.4 million shares under its share repurchase authorizations, for a total of $ 1.0 billion. The average cost per share repurchased was $ 225.44 . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At December 31, 2024, the Company had $ 5.04 billion of capacity remaining under its share repurchase authorizations. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
The Company’s Amended and Restated 2014 Stock Incentive Plan and the 2023 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the exercise price, as well as the related payroll withholding taxes, with respect to certain stock options that were exercised. During the years ended December 31, 2024 and 2023, the Company acquired $ 146 million and $ 64 million, respectively, of its common stock under these plans. | text | 146 | monetaryItemType | text: <entity> 146 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s Amended and Restated 2014 Stock Incentive Plan and the 2023 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the exercise price, as well as the related payroll withholding taxes, with respect to certain stock options that were exercised. During the years ended December 31, 2024 and 2023, the Company acquired $ 146 million and $ 64 million, respectively, of its common stock under these plans. </context> | us-gaap:AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation |
The Company’s Amended and Restated 2014 Stock Incentive Plan and the 2023 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the exercise price, as well as the related payroll withholding taxes, with respect to certain stock options that were exercised. During the years ended December 31, 2024 and 2023, the Company acquired $ 146 million and $ 64 million, respectively, of its common stock under these plans. | text | 64 | monetaryItemType | text: <entity> 64 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s Amended and Restated 2014 Stock Incentive Plan and the 2023 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the exercise price, as well as the related payroll withholding taxes, with respect to certain stock options that were exercised. During the years ended December 31, 2024 and 2023, the Company acquired $ 146 million and $ 64 million, respectively, of its common stock under these plans. </context> | us-gaap:AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation |
The Company’s U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are subject to various regulatory restrictions that limit the maximum amount of dividends available to be paid by each insurance subsidiary to its respective parent company without prior approval of insurance regulatory authorities. A maximum of $ 4.17 billion is available by the end of 2025 for such dividends to ultimately be paid to the holding company, TRV, without prior approval of the Connecticut Insurance Department. The Company may choose to accelerate the timing within 2025 and/or increase the amount of dividends from its insurance subsidiaries in 2025, which could result in certain dividends being subject to approval by the Connecticut Insurance Department prior to payment. | text | 4.17 | monetaryItemType | text: <entity> 4.17 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are subject to various regulatory restrictions that limit the maximum amount of dividends available to be paid by each insurance subsidiary to its respective parent company without prior approval of insurance regulatory authorities. A maximum of $ 4.17 billion is available by the end of 2025 for such dividends to ultimately be paid to the holding company, TRV, without prior approval of the Connecticut Insurance Department. The Company may choose to accelerate the timing within 2025 and/or increase the amount of dividends from its insurance subsidiaries in 2025, which could result in certain dividends being subject to approval by the Connecticut Insurance Department prior to payment. </context> | us-gaap:StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithoutRegulatoryApproval |
The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. | text | 2.00 | monetaryItemType | text: <entity> 2.00 </entity> <entity type> monetaryItemType </entity type> <context> The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. | text | 1.17 | monetaryItemType | text: <entity> 1.17 </entity> <entity type> monetaryItemType </entity type> <context> The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. | text | 2.90 | monetaryItemType | text: <entity> 2.90 </entity> <entity type> monetaryItemType </entity type> <context> The U.S. insurance subsidiaries paid dividends of $ 2.00 billion, $ 1.17 billion and $ 2.90 billion during 2024, 2023 and 2022, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 4.15 | perShareItemType | text: <entity> 4.15 </entity> <entity type> perShareItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 3.93 | perShareItemType | text: <entity> 3.93 </entity> <entity type> perShareItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 3.67 | perShareItemType | text: <entity> 3.67 </entity> <entity type> perShareItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 951 | monetaryItemType | text: <entity> 951 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 908 | monetaryItemType | text: <entity> 908 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. | text | 875 | monetaryItemType | text: <entity> 875 </entity> <entity type> monetaryItemType </entity type> <context> For the years ended December 31, 2024, 2023 and 2022, TRV declared cash dividends per common share of $ 4.15 , $ 3.93 and $ 3.67 , respectively, and paid cash dividends of $ 951 million, $ 908 million and $ 875 million, respectively. </context> | us-gaap:PaymentsOfDividendsCommonStock |
Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. | text | 4.74 | monetaryItemType | text: <entity> 4.74 </entity> <entity type> monetaryItemType </entity type> <context> Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:StatutoryAccountingPracticesStatutoryNetIncomeAmount |
Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. | text | 2.85 | monetaryItemType | text: <entity> 2.85 </entity> <entity type> monetaryItemType </entity type> <context> Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:StatutoryAccountingPracticesStatutoryNetIncomeAmount |
Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. | text | 2.62 | monetaryItemType | text: <entity> 2.62 </entity> <entity type> monetaryItemType </entity type> <context> Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:StatutoryAccountingPracticesStatutoryNetIncomeAmount |
Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. | text | 27.72 | monetaryItemType | text: <entity> 27.72 </entity> <entity type> monetaryItemType </entity type> <context> Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance |
Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. | text | 25.11 | monetaryItemType | text: <entity> 25.11 </entity> <entity type> monetaryItemType </entity type> <context> Statutory net income of the Company’s domestic and international insurance subsidiaries was $ 4.74 billion, $ 2.85 billion and $ 2.62 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Statutory capital and surplus of the Company’s domestic and international insurance subsidiaries was $ 27.72 billion and $ 25.11 billion at December 31, 2024 and 2023, respectively. </context> | us-gaap:StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance |
The Company recognized a one-time tax benefit of $ 211 million in the first quarter of 2023 due to the expiration of the statute | text | 211 | monetaryItemType | text: <entity> 211 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized a one-time tax benefit of $ 211 million in the first quarter of 2023 due to the expiration of the statute </context> | us-gaap:TaxAdjustmentsSettlementsAndUnusualProvisions |
The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. | text | 1.31 | monetaryItemType | text: <entity> 1.31 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. </context> | us-gaap:IncomeTaxesPaidNet |
The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. | text | 201 | monetaryItemType | text: <entity> 201 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. </context> | us-gaap:IncomeTaxesPaidNet |
The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. | text | 817 | monetaryItemType | text: <entity> 817 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. </context> | us-gaap:IncomeTaxesPaidNet |
The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. | text | 301 | monetaryItemType | text: <entity> 301 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. </context> | us-gaap:AccruedIncomeTaxesCurrent |
The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. | text | 285 | monetaryItemType | text: <entity> 285 </entity> <entity type> monetaryItemType </entity type> <context> The Company paid income taxes of $ 1.31 billion, $ 201 million and $ 817 million during the years ended December 31, 2024, 2023 and 2022, respectively. The current income tax payable of $ 301 million and $ 285 million at December 31, 2024 and 2023, respectively, was included in other liabilities in the consolidated balance sheet. </context> | us-gaap:AccruedIncomeTaxesCurrent |
If the Company determines that any of its deferred tax assets will not result in future tax benefits, a valuation allowance must be established for the portion of these assets that are not expected to be realized. The net change in the valuation allowance for deferred tax assets was an increase of $ 3 million in 2024, driven by an increase in the Company’s Canadian subsidiary. Based upon a review of the Company’s anticipated future taxable income, and also including all other available evidence, both positive and negative, the Company’s management concluded that it is more likely than not that the net deferred tax assets will be realized. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> If the Company determines that any of its deferred tax assets will not result in future tax benefits, a valuation allowance must be established for the portion of these assets that are not expected to be realized. The net change in the valuation allowance for deferred tax assets was an increase of $ 3 million in 2024, driven by an increase in the Company’s Canadian subsidiary. Based upon a review of the Company’s anticipated future taxable income, and also including all other available evidence, both positive and negative, the Company’s management concluded that it is more likely than not that the net deferred tax assets will be realized. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
Included in the balances at December 31, 2024 and 2023 were $ 17 million and $ 12 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $ 0 million and $ 2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Included in the balances at December 31, 2024 and 2023 were $ 17 million and $ 12 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $ 0 million and $ 2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
Included in the balances at December 31, 2024 and 2023 were $ 17 million and $ 12 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $ 0 million and $ 2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> Included in the balances at December 31, 2024 and 2023 were $ 17 million and $ 12 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $ 0 million and $ 2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense |
The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense |
The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2024, 2023 and 2022, the Company recognized approximately $ 5 million, $ 3 million and $( 13 ) million in interest, respectively. The Company had approximately $ 11 million and $ 6 million accrued for the payment of interest at December 31, 2024 and 2023, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
The number of shares of the Company’s common stock initially authorized for grant under the 2023 Incentive Plan was 5,789,184 shares. The following are not counted towards the combined 5,789,184 shares available and will be available for future grants under the 2023 Incentive Plan: (i) shares of common stock subject to awards that expire unexercised, that are forfeited, terminated or canceled, that are settled in cash or other forms of property, or otherwise do not result in the issuance of shares of common stock, in whole or in part; (ii) shares that are used to pay the exercise price of stock options and shares used to pay withholding taxes on awards generally; and (iii) shares purchased by the Company on the open market using cash option exercise proceeds; provided, however, that the increase in the number of shares of common stock available for grant pursuant to such market purchases shall not be greater than the number that could be repurchased at fair market value on the date of exercise of the stock option giving rise to such option proceeds. In addition, the 5,789,184 shares authorized by shareholders for issuance under the 2023 Incentive Plan will be increased by any shares subject to awards under the 2014 Incentive Plan that were outstanding as of May 24, 2023 and subsequently expire, are forfeited, canceled, settled in cash or otherwise terminate without the issuance of shares. | text | 5789184 | sharesItemType | text: <entity> 5789184 </entity> <entity type> sharesItemType </entity type> <context> The number of shares of the Company’s common stock initially authorized for grant under the 2023 Incentive Plan was 5,789,184 shares. The following are not counted towards the combined 5,789,184 shares available and will be available for future grants under the 2023 Incentive Plan: (i) shares of common stock subject to awards that expire unexercised, that are forfeited, terminated or canceled, that are settled in cash or other forms of property, or otherwise do not result in the issuance of shares of common stock, in whole or in part; (ii) shares that are used to pay the exercise price of stock options and shares used to pay withholding taxes on awards generally; and (iii) shares purchased by the Company on the open market using cash option exercise proceeds; provided, however, that the increase in the number of shares of common stock available for grant pursuant to such market purchases shall not be greater than the number that could be repurchased at fair market value on the date of exercise of the stock option giving rise to such option proceeds. In addition, the 5,789,184 shares authorized by shareholders for issuance under the 2023 Incentive Plan will be increased by any shares subject to awards under the 2014 Incentive Plan that were outstanding as of May 24, 2023 and subsequently expire, are forfeited, canceled, settled in cash or otherwise terminate without the issuance of shares. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. | text | 648808 | sharesItemType | text: <entity> 648808 </entity> <entity type> sharesItemType </entity type> <context> Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. | text | 244.06 | perShareItemType | text: <entity> 244.06 </entity> <entity type> perShareItemType </entity type> <context> Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. </context> | us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. | text | 68.92 | perShareItemType | text: <entity> 68.92 </entity> <entity type> perShareItemType </entity type> <context> Subsequent to the balance sheet date, on February 4, 2025, the Company granted 648,808 stock option awards under the 2023 Incentive Plan with an exercise price of $ 244.06 per share. The fair value attributable to the stock option awards on the date of grant was $ 68.92 per share. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. | text | 253 | monetaryItemType | text: <entity> 253 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. | text | 164 | monetaryItemType | text: <entity> 164 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. | text | 159 | monetaryItemType | text: <entity> 159 </entity> <entity type> monetaryItemType </entity type> <context> The total fair value of shares that vested during the years ended December 31, 2024, 2023 and 2022 was $ 253 million, $ 164 million and $ 159 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period), generally the vesting period. Awards granted to retiree-eligible employees or to employees who become retiree-eligible before an award’s vesting date are considered to have met the requisite service condition if the vesting terms are accelerated upon retirement. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100 % of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 1.5 % to 3.5 % over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2024, 2023 and 2022 was $ 260 million, $ 214 million and $ 183 million, respectively. Included in these amounts are compensation cost adjustments of $ 68 million, $ 39 million and $ 23 million, for the years ended December 31, 2024, 2023 and 2022, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $ 43 million, $ 36 million and $ 31 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 260 | monetaryItemType | text: <entity> 260 </entity> <entity type> monetaryItemType </entity type> <context> The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period), generally the vesting period. Awards granted to retiree-eligible employees or to employees who become retiree-eligible before an award’s vesting date are considered to have met the requisite service condition if the vesting terms are accelerated upon retirement. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100 % of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 1.5 % to 3.5 % over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2024, 2023 and 2022 was $ 260 million, $ 214 million and $ 183 million, respectively. Included in these amounts are compensation cost adjustments of $ 68 million, $ 39 million and $ 23 million, for the years ended December 31, 2024, 2023 and 2022, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $ 43 million, $ 36 million and $ 31 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period), generally the vesting period. Awards granted to retiree-eligible employees or to employees who become retiree-eligible before an award’s vesting date are considered to have met the requisite service condition if the vesting terms are accelerated upon retirement. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100 % of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 1.5 % to 3.5 % over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2024, 2023 and 2022 was $ 260 million, $ 214 million and $ 183 million, respectively. Included in these amounts are compensation cost adjustments of $ 68 million, $ 39 million and $ 23 million, for the years ended December 31, 2024, 2023 and 2022, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $ 43 million, $ 36 million and $ 31 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 214 | monetaryItemType | text: <entity> 214 </entity> <entity type> monetaryItemType </entity type> <context> The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period), generally the vesting period. Awards granted to retiree-eligible employees or to employees who become retiree-eligible before an award’s vesting date are considered to have met the requisite service condition if the vesting terms are accelerated upon retirement. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100 % of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 1.5 % to 3.5 % over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2024, 2023 and 2022 was $ 260 million, $ 214 million and $ 183 million, respectively. Included in these amounts are compensation cost adjustments of $ 68 million, $ 39 million and $ 23 million, for the years ended December 31, 2024, 2023 and 2022, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $ 43 million, $ 36 million and $ 31 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
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