Changes in and Reclassifications from Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

15. CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)


Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2022
	Changes in
	Net Unrealized Gain (Loss) on Fixed Maturities		Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	1,616	$	(2)	$	6	$	41	$	(1,489)	$	172


OCI before reclassifications	(2,469)		—		7		—		—		(2,462)
Amounts reclassified from AOCI	87		—		(8)		—		15		94
OCI, before tax	(2,382)		—		(1)		—		15		(2,368)
Income tax benefit (expense)	500		—		—		—		(3)		497
OCI, net of tax	(1,882)		—		(1)		—		12		(1,871)
Ending balance	$	(266)	$	(2)	$	5	$	41	$	(1,477)	$	(1,699)


Reclassifications from AOCI
	Three Months Ended March 31, 2022		Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain on Fixed Maturities
Available-for-sale fixed maturities	$	(87)	Net realized gains (losses)
	(87)		Total before tax
	(18)		Income tax expense

	$	(69)	Net income






Net Gains on Cash Flow Hedging Instruments

Interest rate swaps	$	9	Net investment income
Interest rate swaps	(3)		Interest expense
Foreign currency swaps	2		Net investment income

	8		Total before tax
	2		Income tax expense

	$	6	Net income





Pension and Other Postretirement Plan Adjustments
Amortization of prior service credit	$	2	Insurance operating costs and other expenses
Amortization of actuarial loss	(17)		Insurance operating costs and other expenses

	(15)		Total before tax
	(3)		Income tax expense
	$	(12)	Net income
Total amounts reclassified from AOCI	$	(75)	Net income


Changes in AOCI, Net of Tax for the Three Months Ended March 31, 2021
	Changes in
	Net Unrealized Gain on Fixed Maturities		Net Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	2,834	$	(2)	$	12	$	43	$	(1,717)	$	1,170


OCI before reclassifications	(1,166)		—		15		1		(1)		(1,151)
Amounts reclassified from AOCI	(4)		—		(9)		—		17		4
OCI, before tax	(1,170)		—		6		1		16		(1,147)
Income tax benefit (expense)	245		—		(1)		—		(3)		241
OCI, net of tax	(925)		—		5		1		13		(906)
Ending balance	$	1,909	$	(2)	$	17	$	44	$	(1,704)	$	264


Reclassifications from AOCI
	Three Months Ended March 31, 2021		Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain on Fixed Maturities
Available-for-sale fixed maturities	$	4	Net realized gains (losses)
	4		Total before tax
	1		Income tax expense

	$	3	Net income






Net Gains on Cash Flow Hedging Instruments
Interest rate swaps	$	10	Net investment income
Interest rate swaps	(2)		Interest expense
Foreign currency swaps	$	1	Net investment income



	9		Total before tax
	2		Income tax expense

	$	7	Net income





Pension and Other Postretirement Plan Adjustments
Amortization of prior service credit	$	2	Insurance operating costs and other expenses
Amortization of actuarial loss	(19)		Insurance operating costs and other expenses

	(17)		Total before tax
	(4)		Income tax expense
	$	(13)	Net income
Total amounts reclassified from AOCI	$	(3)	Net income