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Business and Basis of Presentation (Tables) | 9 Months Ended
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Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Equity Method Investments | The following table presents the calculation of the gain associated with the Sound Point Transaction and AHP Transaction during the nine-month period ended September 30, 2023 (nine months 2023). Gain on Sound Point Transaction and AHP Transaction
| (in millions)
Fair value of investment in Sound Point | $ | 419 |
Fair value of other consideration | 25 |
Total consideration | 444 |
Less net asset carrying value of transferred AssuredIM subsidiaries (1) | 189 |
Gain on sale of asset management subsidiaries (2) | $ | 255 |
____________________ (1) Consists primarily of goodwill and intangible assets of $155 million. (2) Consists of a $248 million gain on the Sound Point Transaction, and a $7 million gain on the AHP Transaction, which were both reported in the Corporate division (as described in Note 2, Segment Information). In the fourth quarter of 2023, the Company reported a $7 million adjustment to increase the pre-tax gain on the Sound Point Transaction.

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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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