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Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Other Comprehensive Income | 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 consolidated statements of operations. Changes in Accumulated Other Comprehensive Income (Loss) by Component Year Ended December 31, 2023
| 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, 2022 | $ | (343) |  |  | $ | (110) |  |  | $ | (23) |  |  | $ | (45) |  |  | $ | 6 |  |  | $ | (515) |
Other comprehensive income (loss) before reclassifications | 139 |  |  | (5) |  |  | — |  |  | 2 |  |  | — |  |  | 136 |
Less: Amounts reclassified from AOCI to: |  |  |  |  |  |  |  |  |  |  |
Net realized investment gains (losses) | (1) |  |  | (13) |  |  | — |  |  | — |  |  | — |  |  | (14) |
Fair value gains (losses) on FG VIEs | — |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | (3) |
Fair value gains (losses) on CIVs | — |  |  | — |  |  | — |  |  | (6) |  |  | — |  |  | (6) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Total before tax | (1) |  |  | (13) |  |  | (3) |  |  | (6) |  |  | 1 |  |  | (22) |
Tax (provision) benefit | (1) |  |  | 2 |  |  | — |  |  | 1 |  |  | — |  |  | 2 |
Total amount reclassified from AOCI, net of tax | (2) |  |  | (11) |  |  | (3) |  |  | (5) |  |  | 1 |  |  | (20) |
Other comprehensive income (loss) | 141 |  |  | 6 |  |  | 3 |  |  | 7 |  |  | (1) |  |  | 156 |
Balance, December 31, 2023 | $ | (202) |  |  | $ | (104) |  |  | $ | (20) |  |  | $ | (38) |  |  | $ | 5 |  |  | $ | (359) |
Changes in Accumulated Other Comprehensive Income (Loss) by Component Year Ended December 31, 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 | (755) |  |  | (103) |  |  | (4) |  |  | (9) |  |  | — |  |  | (871) |
Less: Amounts reclassified from AOCI to: |  |  |  |  |  |  |  |  |  |  |
Net realized investment gains (losses) | (44) |  |  | (21) |  |  | — |  |  | — |  |  | — |  |  | (65) |
Fair value gains (losses) on FG VIEs | — |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | (3) |
Total before tax | (44) |  |  | (21) |  |  | (3) |  |  | — |  |  | — |  |  | (68) |
Tax (provision) benefit | 7 |  |  | 4 |  |  | 1 |  |  | — |  |  | — |  |  | 12 |
Total amount reclassified from AOCI, net of tax | (37) |  |  | (17) |  |  | (2) |  |  | — |  |  | — |  |  | (56) |
Other comprehensive income (loss) | (718) |  |  | (86) |  |  | (2) |  |  | (9) |  |  | — |  |  | (815) |
Balance, December 31, 2022 | $ | (343) |  |  | $ | (110) |  |  | $ | (23) |  |  | $ | (45) |  |  | $ | 6 |  |  | $ | (515) |
Changes in Accumulated Other Comprehensive Income (Loss) by Component Year Ended December 31, 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 | (184) |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | (187) |
Less: Amounts reclassified from AOCI to: |  |  |  |  |  |  |  |  |  |  |
Net realized investment gains (losses) | 21 |  |  | (7) |  |  | — |  |  | — |  |  | — |  |  | 14 |
Fair value gains (losses) on FG VIEs | — |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | (3) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Total before tax | 21 |  |  | (7) |  |  | (3) |  |  | — |  |  | 1 |  |  | 12 |
Tax (provision) benefit | (3) |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | (1) |
Total amount reclassified from AOCI, net of tax | 18 |  |  | (6) |  |  | (2) |  |  | — |  |  | 1 |  |  | 11 |
Other comprehensive income (loss) | (202) |  |  | 6 |  |  | (1) |  |  | — |  |  | (1) |  |  | (198) |
Balance, December 31, 2021 | $ | 375 |  |  | $ | (24) |  |  | $ | (21) |  |  | $ | (36) |  |  | $ | 6 |  |  | $ | 300 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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