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v3.23.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information for the Company’s operating segments. Intersegment revenues include transactions between and among the segments, the corporate division and other. Segment Information
|  | Three Months Ended March 31,
|  | 2023 |  | 2022
|  | Insurance |  | Asset Management |  | Insurance |  | Asset Management
|  | (in millions)
Third-party revenues |  | $ | 188 |  |  | $ | 25 |  |  | $ | 276 |  |  | $ | 30 |
Intersegment revenues |  | 2 |  |  | 16 |  |  | 2 |  |  | 9 |
Segment revenues |  | 190 |  |  | 41 |  |  | 278 |  |  | 39 |
Segment expenses |  | 79 |  |  | 42 |  |  | 122 |  |  | 39 |
Segment equity in earnings (losses) of investees |  | 30 |  |  | — |  |  | (1) |  |  | — |
Less: Segment provision (benefit) for income taxes |  | 24 |  |  | — |  |  | 22 |  |  | — |
Segment adjusted operating income (loss) |  | $ | 117 |  |  | $ | (1) |  |  | $ | 133 |  |  | $ | — |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated | The tables below present a reconciliation of significant components of segment information to the comparable consolidated amounts. Reconciliation of Segment Information to Consolidated Information First Quarter 2023
|  |  |  |  | Equity in Earnings (Losses) of Investees |  | Less: |  | Net Income (Loss) Attributable to AGL
| Revenues |  | Expenses |  |  | Provision (Benefit) for Income Taxes |  | Noncontrolling Interests |
| (in millions)
Segments: |  |  |  |  |  |  |  |  |  |  |
Insurance | $ | 190 |  |  | $ | 79 |  |  | $ | 30 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 117 |
Asset Management | 41 |  |  | 42 |  |  | — |  |  | — |  |  | — |  |  | (1) |
Total segments | 231 |  |  | 121 |  |  | 30 |  |  | 24 |  |  | — |  |  | 116 |
Corporate division | 2 |  |  | 48 |  |  | — |  |  | (2) |  |  | — |  |  | (44) |
Other | 35 |  |  | (4) |  |  | (28) |  |  | (1) |  |  | 16 |  |  | (4) |
Subtotal | 268 |  |  | 165 |  |  | 2 |  |  | 21 |  |  | 16 |  |  | 68 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Realized gains (losses) on investments | (2) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |
Non-credit impairment-related unrealized fair value gains (losses) on credit derivatives | 13 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13 |
Fair value gains (losses) on CCS | (16) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (16) |
Foreign exchange gains (losses) on remeasurement of premiums receivable and loss and LAE reserves | 20 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20 |
Tax effect | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | (2) |
Total consolidated | $ | 283 |  |  | $ | 165 |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 16 |  |  | $ | 81 |
Reconciliation of Segment Information to Consolidated Information First Quarter 2022
|  |  |  |  | Equity in Earnings (Losses) of Investees |  | Less: |  | Net Income (Loss) Attributable to AGL
| Revenues |  | Expenses |  |  | Provision (Benefit) for Income Taxes |  | Noncontrolling Interests |
| (in millions)
Segments: |  |  |  |  |  |  |  |  |  |  |
Insurance | $ | 278 |  |  | $ | 122 |  |  | $ | (1) |  |  | $ | 22 |  |  | $ | — |  |  | $ | 133 |
Asset Management | 39 |  |  | 39 |  |  | — |  |  | — |  |  | — |  |  | — |
Total segments | 317 |  |  | 161 |  |  | (1) |  |  | 22 |  |  | — |  |  | 133 |
Corporate division | 1 |  |  | 34 |  |  | — |  |  | — |  |  | — |  |  | (33) |
Other | 14 |  |  | 5 |  |  | (10) |  |  | — |  |  | 9 |  |  | (10) |
Subtotal | 332 |  |  | 200 |  |  | (11) |  |  | 22 |  |  | 9 |  |  | 90 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Realized gains (losses) on investments | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Non-credit impairment-related unrealized fair value gains (losses) on credit derivatives | (7) |  |  | (4) |  |  | — |  |  | — |  |  | — |  |  | (3) |
Fair value gains (losses) on CCS | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Foreign exchange gains (losses) on remeasurement of premiums receivable and loss and LAE reserves | (29) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (29) |
Tax effect | — |  |  | — |  |  | — |  |  | (4) |  |  | — |  |  | 4 |
Total consolidated | $ | 300 |  |  | $ | 196 |  |  | $ | (11) |  |  | $ | 18 |  |  | $ | 9 |  |  | $ | 66 |

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- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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