Securities lending transactions ratio of fair value of collateral held to fair value of securities loaned

  
Accrued Investment IncomeAt March 31, 2022 and December 31, 2021, accrued investment income totaled $185 and $205, respectively. We recognize accrued investment income under the caption “Other receivables” on our consolidated balance sheets.Securities Lending ProgramsWe participate in securities lending programs whereby marketable securities in our investment portfolio are transferred to independent brokers or dealers in exchange for cash and securities collateral. The fair value of the collateral received at the time of the transactions amounted to $2,596 and $2,155 at March 31, 2022 and December 31, 2021, respectively. The value of the collateral represented 102% of the market value of the securities on loan at each of March 31, 2022 and December 31, 2021. We recognize the collateral as an asset under the caption “Other current assets” in our consolidated balance sheets, and we recognize a corresponding liability for the obligation to return the collateral to the borrower under the caption “Other current liabilities.” The securities on loan are reported in the applicable investment category on our consolidated balance sheets. At March 31, 2022 and December 31, 2021, the remaining contractual maturity of our securities lending agreements included overnight and continuous transactions of cash for $2,408 and $1,874, respectively, of United States Government securities for $184 and $281, respectively, and of Other securities for $4 and $0, respectively.6.    Derivative Financial InstrumentsWe primarily invest in the following types of derivative financial instruments: interest rate swaps, futures, forward contracts, put and call options, swaptions, embedded derivatives and warrants. We also enter into master netting agreements, which reduce credit risk by permitting net settlement of transactions.We have entered into various interest rate swap contracts to convert a portion of our interest rate exposure on our long-term debt from fixed rates to floating rates. The floating rates payable on all of our fair value hedges are benchmarked to LIBOR or the Secured Overnight Financing Rate (“SOFR”). Any amounts recognized for changes in fair value of these derivatives are included in the captions “Other current assets,” or “Other noncurrent assets,” or “Other current liabilities” or “Other noncurrent liabilities” in our consolidated balance sheets. The unrecognized loss for all expired and terminated cash flow hedges included in accumulated other comprehensive loss, net of tax, was $236 and $239 at March 31, 2022 and December 31, 2021, respectively. During the three months ended March 31, 2022 and 2021, we recognized net gains on non-hedging derivatives of $23 and $22, respectively.For additional information relating to the fair value of our derivative assets and liabilities, see Note 7, “Fair Value,” of this Form 10-Q.7.    Fair ValueAssets and liabilities recorded at fair value in our consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Level inputs, as defined by FASB guidance for fair value measurements and disclosures, are as follows:

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| Level Input |  | Input Definition |
| Level I |  | Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. |
| Level II |  | Inputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date. |
| Level III |  | Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. |

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