XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

INTANGIBLE ASSETS | 6 Months Ended
--- | ---
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 for VOBA asset, which is an actuarial intangible asset arising from a business combination.
|  | June 30, 2024 |  | December 31, 2023
AS OF US$ MILLIONS |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Distributor relationships |  | $ | 1,505 |  |  | $ | (12) |  |  | $ | 1,493 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 28 |
Trade name |  | 71 |  |  | (5) |  |  | 66 |  |  | 24 |  |  | (2) |  |  | 22 |
Unpaid claims reserve intangible asset |  | 103 |  |  | (20) |  |  | 83 |  |  | 104 |  |  | (5) |  |  | 99 |
Software and other |  | 69 |  |  | (5) |  |  | 64 |  |  | 32 |  |  | (2) |  |  | 30 |
Total definite-lived intangible assets |  | 1,748 |  |  | (42) |  |  | 1,706 |  |  | 188 |  |  | (9) |  |  | 179 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Insurance licenses |  | 71 |  |  | — |  |  | 71 |  |  | 56 |  |  | — |  |  | 56 |
Total |  | $ | 1,819 |  |  | $ | (42) |  |  | $ | 1,777 |  |  | $ | 244 |  |  | $ | (9) |  |  | $ | 235 |
No impairment expenses of intangible assets were recognized for the six months ended June 30, 2024 and 2023. We estimate that our intangible assets do not have any significant residual value in determining their amortization. Amortization expenses were $23 million and $35 million for the three and six months ended June 30, 2024 respectively, and nil and $1 million for the three and six months ended June 30, 2023 respectively. The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2024.
Years |  | US$ MILLIONS
2024 1 |  | $ | 57 |
2025 |  | 105 |
2026 |  | 97 |
2027 |  | 92 |
2028 |  | 86 |
Thereafter |  | 1,269 |
Total amortization expense |  | $ | 1,706 |
1.Expected amortization for the remainder of 2024.

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

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration