XML 50 R26.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
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
|  | First Quarter
|  | 2024 |  | 2023
|  | Insurance |  | Asset Management |  | Insurance |  | Asset Management
|  | (in millions)
Third-party revenues |  | $ | 227 |  |  | $ | 1 |  |  | $ | 188 |  |  | $ | 25 |
Intersegment revenues |  | 2 |  |  | — |  |  | 2 |  |  | 16 |
Segment revenues |  | 229 |  |  | 1 |  |  | 190 |  |  | 41 |
Segment expenses |  | 85 |  |  | — |  |  | 79 |  |  | 42 |
Segment equity in earnings (losses) of investees |  | 40 |  |  | 1 |  |  | 30 |  |  | — |
Less: Segment provision (benefit) for income taxes |  | 35 |  |  | 1 |  |  | 24 |  |  | — |
Segment adjusted operating income (loss) |  | $ | 149 |  |  | $ | 1 |  |  | $ | 117 |  |  | $ | (1) |
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 2024
|  |  |  |  | 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 | $ | 229 |  |  | $ | 85 |  |  | $ | 40 |  |  | $ | 35 |  |  | $ | — |  |  | $ | 149 |
Asset Management | 1 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |
Total segments | 230 |  |  | 85 |  |  | 41 |  |  | 36 |  |  | — |  |  | 150 |
Corporate division | 5 |  |  | 47 |  |  | — |  |  | (5) |  |  | — |  |  | (37) |
Other | 16 |  |  | (5) |  |  | (17) |  |  | — |  |  | 4 |  |  | — |
Subtotal | 251 |  |  | 127 |  |  | 24 |  |  | 31 |  |  | 4 |  |  | 113 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |
Realized gains (losses) on investments | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |
Non-credit impairment-related unrealized fair value gains (losses) on credit derivatives | 8 |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | 10 |
Fair value gains (losses) on CCS | (10) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10) |
Foreign exchange gains (losses) on remeasurement of premiums receivable and loss and LAE reserves | (12) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (12) |
Tax effect | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total consolidated | $ | 245 |  |  | $ | 125 |  |  | $ | 24 |  |  | $ | 31 |  |  | $ | 4 |  |  | $ | 109 |
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 |

X
- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration