XML 40 R26.htm IDEA: XBRL DOCUMENT v3.24.3
Business and Basis of Presentation (Tables)
 9 Months Ended
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 consideration25 
   Total consideration444 
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.