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Other Income and Expense | 9 Months Ended
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Sep. 30, 2022
Other Income and Expenses [Abstract] |
Other Income and Expense Disclosure | Other income and expense
| Three Months Ended |  | Nine Months Ended
| September 30 |  | September 30
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2022 |  | 2021
Equity in net income (loss) of partially-owned entities (1) | $ | (98) |  |  | $ | 802 |  |  | $ | 192 |  |  | $ | 2,073 |
Gains (losses) from fair value changes in separate account assets (2) | (67) |  |  | (24) |  |  | (116) |  |  | (5) |
Federal excise and capital taxes | (6) |  |  | (5) |  |  | (15) |  |  | (15) |
Other | (17) |  |  | (10) |  |  | (40) |  |  | (23) |
Total | $ | (188) |  |  | $ | 763 |  |  | $ | 21 |  |  | $ | 2,030 |
(1) Equity in net income (loss) of partially-owned entities principally comprises mark-to-market gain (loss) on private equities where we own more than three percent of $(190) million and $(69) million for the three and nine months ended September 30, 2022, respectively, and $702 million and $1,776 million, respectively, for the prior year periods. This line item also includes net income of $28 million and $83 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and nine months ended September 30, 2022, respectively, compared to $40 million and $144 million, respectively, for the prior year periods. (2) Related to gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP. Other income and expense includes equity in net income of partially-owned entities, which includes our share of net income or loss, both underlying operating income and mark-to-market movement, related to partially-owned investment companies (private equity) and partially-owned insurance companies. Also included in Other income and expense are gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations. Certain federal excise and capital taxes incurred as a result of capital management initiatives are included in Other income and expense as these are considered capital transactions and are excluded from underwriting results. Bad debt expense for uncollectible premiums is also included in Other income and expense.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI https://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI https://asc.fasb.org/topic&trid=49130413 + Details
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