XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.23.1

Deferred Acquisition Costs and Deferred Sales Inducement Costs (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Deferred Charges, Insurers [Abstract] |
Schedule of balances of and changes in DAC | The following tables summarize the balances of and changes in DAC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 1,690 |  |  | $ | 22 |  |  | $ | 43 |  |  | $ | 7 |  |  | $ | 100 |  |  | $ | 452 |
Effect of shadow reserve adjustments | 42 |  |  | 4 |  |  | 18 |  |  | 1 |  |  | 31 |  |  | 53 |
Post-adoption balance at January 1, 2021 | 1,732 |  |  | 26 |  |  | 61 |  |  | 8 |  |  | 131 |  |  | 505 |
Capitalization of acquisition costs | 111 |  |  | 71 |  |  | — |  |  | — |  |  | 3 |  |  | 54 |
Amortization | (147) |  |  | (6) |  |  | (8) |  |  | (1) |  |  | (9) |  |  | (47) |
Balance at December 31, 2021 | $ | 1,696 |  |  | $ | 91 |  |  | $ | 53 |  |  | $ | 7 |  |  | $ | 125 |  |  | $ | 512 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Insurance |  | Total, All Products
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 108 |  |  | $ | (3) |  |  | $ | — |  |  | $ | 19 |  |  | $ | 89 |  |  | $ | 2,527 |
Effect of shadow reserve adjustments | 149 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 304 |
Post-adoption balance at January 1, 2021 | 257 |  |  | 3 |  |  | — |  |  | 19 |  |  | 89 |  |  | 2,831 |
Capitalization of acquisition costs | 9 |  |  | — |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 255 |
Amortization | (18) |  |  | — |  |  | — |  |  | (2) |  |  | (9) |  |  | (247) |
Balance at December 31, 2021 | $ | 248 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | 84 |  |  | $ | 2,839 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 5 |
Balance at December 31, 2021 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,844 |
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Balance at January 1, 2022 | $ | 1,696 |  |  | $ | 91 |  |  | $ | 53 |  |  | $ | 7 |  |  | $ | 125 |  |  | $ | 512 |
Capitalization of acquisition costs | 38 |  |  | 73 |  |  | — |  |  | — |  |  | 1 |  |  | 55 |
Amortization | (136) |  |  | (15) |  |  | (8) |  |  | (1) |  |  | (8) |  |  | (46) |
Balance at December 31, 2022 | $ | 1,598 |  |  | $ | 149 |  |  | $ | 45 |  |  | $ | 6 |  |  | $ | 118 |  |  | $ | 521 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Insurance |  | Total, All Products
| (in millions)
Balance at January 1, 2022 | $ | 248 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | 84 |  |  | $ | 2,839 |
Capitalization of acquisition costs | 5 |  |  | — |  |  | 1 |  |  | 1 |  |  | 4 |  |  | 178 |
Amortization | (17) |  |  | — |  |  | — |  |  | (2) |  |  | (9) |  |  | (242) |
Balance at December 31, 2022 | $ | 236 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 79 |  |  | $ | 2,775 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 2 |
Balance at December 31, 2022 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,777 |
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Balance at January 1, 2023 | $ | 1,598 |  |  | $ | 149 |  |  | $ | 45 |  |  | $ | 6 |  |  | $ | 118 |  |  | $ | 521 |
Capitalization of acquisition costs | 6 |  |  | 18 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Amortization | (33) |  |  | (5) |  |  | (3) |  |  | — |  |  | (2) |  |  | (12) |
Balance at March 31, 2023 | $ | 1,571 |  |  | $ | 162 |  |  | $ | 42 |  |  | $ | 6 |  |  | $ | 116 |  |  | $ | 520 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Insurance |  | Total, All Products
| (in millions)
Balance at January 1, 2023 | $ | 236 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 79 |  |  | $ | 2,775 |
Capitalization of acquisition costs | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | 38 |
Amortization | (4) |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (61) |
Balance at March 31, 2023 | $ | 233 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 18 |  |  | $ | 78 |  |  | $ | 2,752 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 2 |
Balance at March 31, 2023 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,754 |
Schedule of balances of and changes in DSIC | The following tables summarize the balances of and changes in DSIC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 175 |  |  | $ | 14 |  |  |  |  | $ | 189 |
Effect of shadow reserve adjustments | 8 |  |  | 8 |  |  |  |  | 16 |
Post-adoption balance at January 1, 2021 | 183 |  |  | 22 |  |  |  |  | 205 |
Capitalization of sales inducement costs | 1 |  |  | — |  |  |  |  | 1 |
Amortization | (18) |  |  | (3) |  |  |  |  | (21) |
Balance at December 31, 2021 | $ | 166 |  |  | $ | 19 |  |  |  |  | $ | 185 |
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Balance at January 1, 2022 | $ | 166 |  |  | $ | 19 |  |  |  |  | $ | 185 |
Capitalization of sales inducement costs | 1 |  |  | — |  |  |  |  | 1 |
Amortization | (16) |  |  | (3) |  |  |  |  | (19) |
Balance at December 31, 2022 | $ | 151 |  |  | $ | 16 |  |  |  |  | $ | 167 |
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Balance at January 1, 2023 | $ | 151 |  |  | $ | 16 |  |  |  |  | $ | 167 |
Amortization | (4) |  |  | (1) |  |  |  |  | (5) |
Balance at March 31, 2023 | $ | 147 |  |  | $ | 15 |  |  |  |  | $ | 162 |

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

X
- Definition Tabular disclosure of the movement in deferred policy acquisition costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=35755530&loc=d3e11264-158415 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 65 -Paragraph 2 -Subparagraph (g)(1) -URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 2B -URI https://asc.fasb.org/extlink&oid=124505477&loc=SL117422543-158416 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 55 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124504731&loc=d3e11522-158419 + Details
Name: | us-gaap_DeferredPolicyAcquisitionCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of deferred sale inducement cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124505477&loc=d3e11332-158416 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 2B -URI https://asc.fasb.org/extlink&oid=124505477&loc=SL117422543-158416 + Details
Name: | us-gaap_DeferredSalesInducementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration