XML 143 R108.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Deferred Acquisition Costs and Deferred Sales Inducement Costs - Deferred Acquisition Costs (Details) - USD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | $ 2,777 | [1] | $ 2,844 |  |  |
Amortization | (246) |  | (252) | [2] | $ (259) | [2]
Ending balance | 2,713 |  | 2,777 | [1] | 2,844 |
Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 1,598 |  | 1,696 |  | 1,732 |
Capitalization of acquisition costs | 23 |  | 38 |  | 111 |
Amortization | (125) |  | (136) |  | (147) |
Ending balance | 1,496 |  | 1,598 |  | 1,696 |
Structured Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 149 |  | 91 |  | 26 |
Capitalization of acquisition costs | 83 |  | 73 |  | 71 |
Amortization | (24) |  | (15) |  | (6) |
Ending balance | 208 |  | 149 |  | 91 |
Fixed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 45 |  | 53 |  | 61 |
Capitalization of acquisition costs | 0 |  | 0 |  | 0 |
Amortization | (10) |  | (8) |  | (8) |
Ending balance | 35 |  | 45 |  | 53 |
Fixed Indexed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 6 |  | 7 |  | 8 |
Capitalization of acquisition costs | 0 |  | 0 |  | 0 |
Amortization | (1) |  | (1) |  | (1) |
Ending balance | 5 |  | 6 |  | 7 |
Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 118 |  | 125 |  | 131 |
Capitalization of acquisition costs | 0 |  | 1 |  | 3 |
Amortization | (8) |  | (8) |  | (9) |
Ending balance | 110 |  | 118 |  | 125 |
Variable Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 521 |  | 512 |  | 505 |
Capitalization of acquisition costs | 57 |  | 55 |  | 54 |
Amortization | (44) |  | (46) |  | (47) |
Ending balance | 534 |  | 521 |  | 512 |
Indexed Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 236 |  | 248 |  | 257 |
Capitalization of acquisition costs | 4 |  | 5 |  | 9 |
Amortization | (17) |  | (17) |  | (18) |
Ending balance | 223 |  | 236 |  | 248 |
Other Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 3 |  | 3 |  |  |
Capitalization of acquisition costs | 0 |  | 0 |  |  |
Amortization | (1) |  | 0 |  |  |
Ending balance | 2 |  | 3 |  | 3 |
Life Contingent Payout Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 2 |  | 1 |  | 0 |
Capitalization of acquisition costs | 4 |  | 1 |  | 1 |
Amortization | 0 |  | 0 |  | 0 |
Ending balance | 6 |  | 2 |  | 1 |
Term and Whole Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 18 |  | 19 |  | 19 |
Capitalization of acquisition costs | 1 |  | 1 |  | 2 |
Amortization | (2) |  | (2) |  | (2) |
Ending balance | 17 |  | 18 |  | 19 |
Disability Income Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 79 |  | 84 |  | 89 |
Capitalization of acquisition costs | 4 |  | 4 |  | 4 |
Amortization | (8) |  | (9) |  | (9) |
Ending balance | 75 |  | 79 |  | 84 |
Total, All Products |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 2,775 |  | 2,839 |  | 2,831 |
Capitalization of acquisition costs | 176 |  | 178 |  | 255 |
Amortization | (240) |  | (242) |  | (247) |
Ending balance | 2,711 |  | 2,775 |  | 2,839 |
Other broker dealer acquisition costs |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 2 |  | 5 |  |  |
Ending balance | 2 |  | 2 |  | 5 |
Other Life Insurance, Netting |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  | 3 |  | 3 |
Capitalization of acquisition costs |  |  |  |  | 0 |
Amortization |  |  |  |  | 0 |
Ending balance |  |  |  |  | 3 |
Previously Reported |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | 3,160 |  | 2,782 |  |  |
Ending balance |  |  | 3,160 |  | 2,782 |
Previously Reported | Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 1,690 |
Previously Reported | Structured Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 22 |
Previously Reported | Fixed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 43 |
Previously Reported | Fixed Indexed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 7 |
Previously Reported | Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 100 |
Previously Reported | Variable Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 452 |
Previously Reported | Indexed Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 108 |
Previously Reported | Life Contingent Payout Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 0 |
Previously Reported | Term and Whole Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 19 |
Previously Reported | Disability Income Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 89 |
Previously Reported | Total, All Products |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 2,527 |
Previously Reported | Other Life Insurance, Netting |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | (3) |
Effect of shadow reserve adjustments |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance | $ (383) |  | 62 |  |  |
Ending balance |  |  | $ (383) |  | 62 |
Effect of shadow reserve adjustments | Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 42 |
Effect of shadow reserve adjustments | Structured Variable Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 4 |
Effect of shadow reserve adjustments | Fixed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 18 |
Effect of shadow reserve adjustments | Fixed Indexed Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 1 |
Effect of shadow reserve adjustments | Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 31 |
Effect of shadow reserve adjustments | Variable Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 53 |
Effect of shadow reserve adjustments | Indexed Universal Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 149 |
Effect of shadow reserve adjustments | Life Contingent Payout Annuities |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 0 |
Effect of shadow reserve adjustments | Term and Whole Life Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 0 |
Effect of shadow reserve adjustments | Disability Income Insurance |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 0 |
Effect of shadow reserve adjustments | Total, All Products |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | 304 |
Effect of shadow reserve adjustments | Other Life Insurance, Netting |  |  |  |  |  |
Balances of and changes in DAC |  |  |  |  |  |
Beginning balance |  |  |  |  | $ 6 |
[1] | Certain prior period amounts have been restated. See Note 3 for more information.
[2] | Certain prior period amounts have been restated. See Note 3 for more information.

X
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