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Business and Basis of Presentation (Tables) | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Equity in Earnings of Investees | The following table presents the calculation of the gain associated with the Sound Point Transaction and AHP Transaction. Gain on Sound Point Transaction and AHP Transaction
| (in millions)
Fair value of investment in Sound Point | $ | 425 |
Fair value of other consideration (1) | 25 |
Total consideration | 450 |
Less net asset carrying value of transferred AssuredIM subsidiaries (2) | 188 |
Gain on sale of asset management subsidiaries (3) | $ | 262 |
____________________ (1) Includes $13 million of cash, and a receivable reported in other assets of $12 million. (2) Includes goodwill and intangible assets of $155 million. (3) Consists of a $255 million gain on the Sound Point Transaction, and a $7 million gain on the AHP Transaction, which were both reported in the corporate division.
Schedule of Accounting Policies | Other accounting policies are included in the following notes to the consolidated financial statements.
Note Name | Note Number
Expected loss to be paid (recovered) | Note 4
Contracts accounted for as insurance | Note 5
Contracts accounted for as credit derivatives | Note 6
Investments and cash | Note 7
Financial guaranty variable interest entities and consolidated investment vehicles | Note 8
Fair value measurement | Note 9
Asset management fees | Note 10
Goodwill and other intangible assets | Note 11
Long-term debt and credit facilities | Note 12
Employee benefit plans | Note 13
Income taxes | Note 14
Related parties | Note 16
Leases | Note 17
Commitments and contingencies | Note 18
Shareholders' equity | Note 19
Earnings per share | Note 21

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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