Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Condensed Consolidated Statements of Income Information for MFC and MFLP

Condensed Consolidated Statements of Income Information


For the year ended December 31, 2023	MFC (Guarantor)			Other subsidiaries on a combined basis			Consolidation adjustments			Total consolidated amounts			MFLP
Insurance service result	$	–		$	3,977		$	–		$	3,977		$	–
Investment result		638			3,646			(1,326)			2,958			51
Other revenue		14			6,736			(4)			6,746			(7	)
Net income (loss) attributed to shareholders and other equity holders		5,103			4,785			(4,785)			5,103			1

For the year ended December 31, 2022	MFC (Guarantor)			Other subsidiaries on a combined basis			Consolidation adjustments			Total consolidated amounts			MFLP
Insurance service result	$	–		$	3,160		$	–		$	3,160		$	–
Investment result		554			(5,823	)		(1,100	)		(6,369	)		49
Other revenue		(36	)		6,225			(3	)		6,186			15
Net income (loss) attributed to shareholders and other equity holders		(1,933	)		(2,156	)		2,156			(1,933	)		21

Summary of Condensed Consolidated Statements of Financial Position for MFC and MFLP

Condensed Consolidated

Statements

Financial

Position


As at December 31, 2023	MFC (Guarantor)		Other subsidiaries on a combined basis		Consolidation adjustments			Total consolidated amounts		MFLP
Invested assets	$	86	$	417,124	$	–		$	417,210	$	9
Insurance contract assets		–		145		–			145		–
Reinsurance contract held assets		–		42,651		–			42,651		–
Total other assets		59,023		42,411		(63,410	)		38,024		969
Segregated funds net assets		–		377,544		–			377,544		–
Insurance contract liabilities, excluding those for account of segregated fund holders		–		367,996		–			367,996		–
Reinsurance contract held liabilities		–		2,831		–			2,831		–
Investment contract liabilities		–		11,816		–			11,816		–
Total other liabilities		12,070		55,129		(539	)		66,660		718
Insurance contract liabilities for account of segregated fund holders		–		114,143		–			114,143		–
Investment contract liabilities for account of segregated fund holders		–		263,401		–			263,401		–

As at December 31, 2022	MFC (Guarantor)		Other subsidiaries on a combined basis		Consolidation adjustments			Total consolidated amounts		MFLP
Invested assets	$	63	$	400,079	$	–		$	400,142	$	21
Insurance contract assets		–		673		–			673		–
Reinsurance contract held assets		–		45,871		–			45,871		–
Total other assets		58,357		42,751		(62,667	)		38,441		950
Segregated funds net assets		–		348,562		–			348,562		–
Insurance contract liabilities, excluding those for account of segregated fund holders		–		354,849		–			354,849		–
Reinsurance contract held liabilities		–		2,391		–			2,391		–
Investment contract liabilities		–		10,079		–			10,079		–
Total other liabilities		11,544		58,482		(444	)		69,582		712
Insurance contract liabilities for account of segregated fund holders		–		110,216		–			110,216		–
Investment contract liabilities for account of segregated fund holders		–		238,346		–			238,346		–

Schedule of Pledged Assets

The amounts pledged are as follows.


	2023				2022
As at December 31,	Debt securities		Other		Debt securities		Other
In respect of:
Derivatives	$	10,431	$	26	$	11,944	$	23
Secured borrowings		–		2,220		–		2,241
Regulatory requirements		307		74		320		77
Repurchase agreements		201		–		886		–
Non-registered retirement plans in trust		–		298		–		326
Other		–		283		–		404
Total	$	10,939	$	2,901	$	13,150	$	3,071