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Shareholders' Equity | 3 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity Other Comprehensive Income The following tables present the changes in each component of AOCI and the effect of reclassifications out of AOCI into the respective lines in the condensed consolidated statements of operations. Changes in Accumulated Other Comprehensive Income (Loss) by Component First Quarter 2022
| Net Unrealized Gains (Losses) on Investments with: |  | ISCR on FG VIEs’ Liabilities with Recourse |  | Cumulative Translation Adjustment |  | Cash Flow Hedge |  | Total AOCI
| No Credit Impairment |  | Credit Impairment |  |  |  |
| (in millions)
Balance, December 31, 2021 | $ | 375 |  |  | $ | (24) |  |  | $ | (21) |  |  | $ | (36) |  |  | $ | 6 |  |  | $ | 300 |
Other comprehensive income (loss) before reclassifications | (339) |  |  | (43) |  |  | (1) |  |  | (1) |  |  | — |  |  | (384) |
Less: Amounts reclassified from AOCI to: |  |  |  |  |  |  |  |  |  |  |
Net realized investment gains (losses) | (1) |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | (6) |
Fair value gains (losses) on FG VIEs | — |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | (1) |
Total before tax | (1) |  |  | (5) |  |  | (1) |  |  | — |  |  | — |  |  | (7) |
Tax (provision) benefit | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Total amount reclassified from AOCI, net of tax | (1) |  |  | (4) |  |  | (1) |  |  | — |  |  | — |  |  | (6) |
Other comprehensive income (loss) | (338) |  |  | (39) |  |  | — |  |  | (1) |  |  | — |  |  | (378) |
Balance, March 31, 2022 | $ | 37 |  |  | $ | (63) |  |  | $ | (21) |  |  | $ | (37) |  |  | $ | 6 |  |  | $ | (78) |
Changes in Accumulated Other Comprehensive Income (Loss) by Component First Quarter 2021
| Net Unrealized Gains (Losses) on Investments with: |  | ISCR on FG VIEs’ Liabilities with Recourse |  | Cumulative Translation Adjustment |  | Cash Flow Hedge |  | Total AOCI
| No Credit Impairment |  | Credit Impairment |  |  |  |
| (in millions)
Balance, December 31, 2020 | $ | 577 |  |  | $ | (30) |  |  | $ | (20) |  |  | $ | (36) |  |  | $ | 7 |  |  | $ | 498 |
Other comprehensive income (loss) before reclassifications | (119) |  |  | (8) |  |  | (2) |  |  | 1 |  |  | — |  |  | (128) |
Less: Amounts reclassified from AOCI to: |  |  |  |  |  |  |  |  |  |  |
Net realized investment gains (losses) | — |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | (3) |
Fair value gains (losses) on FG VIEs | — |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | (1) |
Total before tax | — |  |  | (3) |  |  | (1) |  |  | — |  |  | — |  |  | (4) |
Tax (provision) benefit | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Total amount reclassified from AOCI, net of tax | — |  |  | (2) |  |  | (1) |  |  | — |  |  | — |  |  | (3) |
Other comprehensive income (loss) | (119) |  |  | (6) |  |  | (1) |  |  | 1 |  |  | — |  |  | (125) |
Balance, March 31, 2021 | $ | 458 |  |  | $ | (36) |  |  | $ | (21) |  |  | $ | (35) |  |  | $ | 7 |  |  | $ | 373 |
Share Repurchases On February 23, 2022, the Board of Directors (the Board) authorized the repurchase of an additional $350 million of its common shares. Under this and previous authorizations, as of May 5, 2022, the Company was authorized to purchase $240 million of its common shares. The Company expects to repurchase shares from time to time in the open market or in privately negotiated transactions. The timing, form and amount of the share repurchases under the program are at the discretion of management and will depend on a variety of factors, including funds available at the parent company, other potential uses for such funds, market conditions, the Company’s capital position, legal requirements and other factors. The repurchase program may be modified, extended or terminated by the Board at any time. It does not have an expiration date. Share Repurchases
Period |  | Number of Shares Repurchased |  | Total Payments (in millions) |  | Average Price Paid Per Share
2021 (January 1 - March 31) |  | 1,986,534 |  |  | $ | 77 |  |  | $ | 38.83 |
2021 (April 1 - June 30) |  | 1,887,531 |  |  | 88 |  |  | 46.63 |
2021 (July 1- September 30) |  | 2,918,993 |  |  | 140 |  |  | 47.76 |
2021 (October 1 - December 31) |  | 3,725,982 |  |  | 191 |  |  | 51.47 |
Total 2021 |  | 10,519,040 |  |  | $ | 496 |  |  | 47.19 |
2022 (January 1 - March 31) (1) |  | 2,738,223 |  |  | 155 |  |  | 56.62 |
2022 (April 1 - May 5) |  | 1,007,045 |  |  | 61 |  |  | 59.86 |
Total 2022 |  | 3,745,268 |  |  | $ | 216 |  |  | 57.49 |
____________________ (1) Includes $3 million of share repurchases that was prepaid in December 2021 and settled in First Quarter 2022.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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