XML 77 R30.htm IDEA: XBRL DOCUMENT
v3.23.3

Accounting Policies (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Accounting Policies [Abstract] |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] |
Impact of Adoption on Reserve for Future Policy Benefits
| Payout Annuities | Life Conversions | Paid-up Life | Deferred Profit Liability | Other | Total
Reserve for Future Policy Benefits as of December 31, 2020 | $ | 189 |  | $ | 94 |  | $ | 267 |  | $ | — |  | $ | 88 |  | $ | 638 |
Adjustments: |  |  |  |  |  |
Removal of shadow reserve [1] | (26) |  | — |  | — |  | — |  | — |  | (26) |
Update cash flow assumptions and establish deferred profit liability | (16) |  | — |  | (2) |  | 18 |  | — |  | — |
Effect of measurement at current single-A rate [1] | 59 |  | 21 |  | 29 |  | — |  | 2 |  | 111 |
Total Adjustments | 17 |  | 21 |  | 27 |  | 18 |  | 2 |  | 85 |
Reserve for Future Policy Benefits as of January 1, 2021 | 206 |  | 115 |  | 294 |  | 18 |  | 90 |  | 723 |
Change in reserves due to changes in the single-A rate | (11) |  | (7) |  | (15) |  | — |  | — |  | (33) |
Other changes in reserves | (7) |  | (14) |  | (17) |  | 2 |  | (8) |  | (44) |
Reserve for Future Policy Benefits as of December 31, 2021 | $ | 188 |  | $ | 94 |  | $ | 262 |  | $ | 20 |  | $ | 82 |  | $ | 646 |
[1]These changes were reflected as an adjustment to opening AOCI as of January 1, 2021, with a corresponding deferred tax benefit and increase in reinsurance recoverables of $18 and $2, respectively, resulting in a net decrease to AOCI of $65.
Impact of Adoption on Condensed Consolidated Balance Sheets
| As of December 31, 2022 |  | As of December 31, 2021 |  | As of January 1, 2021
| As previously reported | Effect of change | As currently reported |  | As previously reported | Effect of change | As currently reported |  | Balance prior to adoption | Effect of change | As currently reported
Reinsurance recoverables | $ | 6,966 |  | $ | (2) |  | $ | 6,964 |  |  | $ | 6,523 |  | $ | 1 |  | $ | 6,524 |  |  | $ | 6,011 |  | $ | 2 |  | $ | 6,013 |
Deferred income taxes, net | $ | 1,449 |  | $ | (12) |  | $ | 1,437 |  |  | $ | 270 |  | $ | 11 |  | $ | 281 |  |  | $ | 46 |  | $ | 18 |  | $ | 64 |
Reserve for future policy benefits | $ | 561 |  | $ | (59) |  | $ | 502 |  |  | $ | 596 |  | $ | 50 |  | $ | 646 |  |  | $ | 638 |  | $ | 85 |  | $ | 723 |
Retained earnings | $ | 17,048 |  | $ | 10 |  | $ | 17,058 |  |  | $ | 15,764 |  | $ | 6 |  | $ | 15,770 |  |  | $ | 13,918 |  | $ | — |  | $ | 13,918 |
AOCI | $ | (3,876) |  | $ | 35 |  | $ | (3,841) |  |  | $ | 172 |  | $ | (44) |  | $ | 128 |  |  | $ | 1,170 |  | $ | (65) |  | $ | 1,105 |
Total stockholders' equity | $ | 13,631 |  | $ | 45 |  | $ | 13,676 |  |  | $ | 17,843 |  | $ | (38) |  | $ | 17,805 |  |  | $ | 18,556 |  | $ | (65) |  | $ | 18,491 |
Impact of Adoption on Condensed Consolidated Statements of Operations
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
| As previously reported | Effect of change | As currently reported |  | As previously reported | Effect of change | As currently reported
Benefits, losses and loss adjustment expenses | $ | 3,408 |  | $ | (1) |  | $ | 3,407 |  |  | $ | 9,602 |  | $ | (1) |  | $ | 9,601 |
Income before income taxes | $ | 431 |  | $ | 1 |  | $ | 432 |  |  | $ | 1,526 |  | $ | 1 |  | $ | 1,527 |
Income tax expense | $ | 92 |  | $ | — |  | $ | 92 |  |  | $ | 300 |  | $ | — |  | $ | 300 |
Net income | $ | 339 |  | $ | 1 |  | $ | 340 |  |  | $ | 1,226 |  | $ | 1 |  | $ | 1,227 |
Net income available to common stockholders | $ | 333 |  | $ | 1 |  | $ | 334 |  |  | $ | 1,210 |  | $ | 1 |  | $ | 1,211 |
Net income available to common stockholders per common share |  |  |  |  |  |  |
Basic | $ | 1.03 |  | $ | 0.01 |  | $ | 1.04 |  |  | $ | 3.70 |  | $ | — |  | $ | 3.70 |
Diluted | $ | 1.02 |  | $ | — |  | $ | 1.02 |  |  | $ | 3.65 |  | $ | — |  | $ | 3.65 |
Impact of Adoption on Condensed Consolidated Statements of Comprehensive Income
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
| As previously reported | Effect of change | As currently reported |  | As previously reported | Effect of change | As currently reported
Change in net unrealized gain (loss) on fixed maturities, AFS | $ | (1,180) |  | $ | — |  | $ | (1,180) |  |  | $ | (4,654) |  | $ | (15) |  | $ | (4,669) |
Change in liability for future policy benefits adjustments | $ | — |  | $ | 24 |  | $ | 24 |  |  | $ | — |  | $ | 96 |  | $ | 96 |
Other comprehensive loss, net of tax | $ | (1,152) |  | $ | 24 |  | $ | (1,128) |  |  | $ | (4,586) |  | $ | 81 |  | $ | (4,505) |
Comprehensive loss | $ | (813) |  | $ | 25 |  | $ | (788) |  |  | $ | (3,360) |  | $ | 82 |  | $ | (3,278) |

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

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-12 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-13 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration