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Accumulated Other Comprehensive Income Loss (Tables) | 9 Months Ended
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Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Changes in AOCI, net of tax |
Changes in AOCI, Net of Tax for the Three Months Ended September 30, 2024
| Changes in
| Net Unrealized Gain (Loss) on Fixed Maturities, AFS | Unrealized Losses on Fixed Maturities, AFS with ACL | Net Gain (Loss) on Cash Flow Hedging Instruments | Foreign Currency Translation Adjustments | Liability for Future Policy Benefits Adjustments | Pension and Other Postretirement Plan Adjustments | AOCI, net of tax
Beginning balance | $ | (1,732) |  | $ | (7) |  | $ | 30 |  | $ | 35 |  | $ | 35 |  | $ | (1,429) |  | $ | (3,068) |
OCI before reclassifications | 1,292 |  | 2 |  | 2 |  | 8 |  | (20) |  | — |  | 1,284 |
Amounts reclassified from AOCI | 50 |  | 1 |  | 2 |  | — |  | — |  | 9 |  | 62 |
OCI, before tax | 1,342 |  | 3 |  | 4 |  | 8 |  | (20) |  | 9 |  | 1,346 |
Income tax benefit (expense) | (281) |  | (1) |  | (1) |  | (2) |  | 4 |  | (2) |  | (283) |
OCI, net of tax | 1,061 |  | 2 |  | 3 |  | 6 |  | (16) |  | 7 |  | 1,063 |
Ending balance | $ | (671) |  | $ | (5) |  | $ | 33 |  | $ | 41 |  | $ | 19 |  | $ | (1,422) |  | $ | (2,005) |
Changes in AOCI, Net of Tax for the Nine Months Ended September 30, 2024
| Changes in
| Net Unrealized Gain (Loss) on Fixed Maturities, AFS | Unrealized Losses on Fixed Maturities, AFS with ACL | Net Gain (Loss) on Cash Flow Hedging Instruments | Foreign Currency Translation Adjustments | Liability for Future Policy Benefits Adjustments | Pension and Other Postretirement Plan Adjustments | AOCI, net of tax
Beginning balance | $ | (1,482) |  | $ | (8) |  | $ | 21 |  | $ | 37 |  | $ | 25 |  | $ | (1,442) |  | $ | (2,849) |
OCI before reclassifications | 900 |  | 3 |  | 13 |  | 5 |  | (8) |  | — |  | 913 |
Amounts reclassified from AOCI | 127 |  | 1 |  | 2 |  | — |  | — |  | 25 |  | 155 |
OCI, before tax | 1,027 |  | 4 |  | 15 |  | 5 |  | (8) |  | 25 |  | 1,068 |
Income tax benefit (expense) | (216) |  | (1) |  | (3) |  | (1) |  | 2 |  | (5) |  | (224) |
OCI, net of tax | 811 |  | 3 |  | 12 |  | 4 |  | (6) |  | 20 |  | 844 |
Ending balance | $ | (671) |  | $ | (5) |  | $ | 33 |  | $ | 41 |  | $ | 19 |  | $ | (1,422) |  | $ | (2,005) |
Changes in AOCI, Net of Tax for the Three Months Ended September 30, 2023
| Changes in
| Net Unrealized Gain (Loss) on Fixed Maturities, AFS | Unrealized Losses on Fixed Maturities, AFS with ACL | Net Gain (Loss) on Cash Flow Hedging Instruments | Foreign Currency Translation Adjustments | Liability for Future Policy Benefits Adjustments | Pension and Other Postretirement Plan Adjustments | AOCI, net of tax
Beginning balance | $ | (2,277) |  | $ | (10) |  | $ | 31 |  | $ | 36 |  | $ | 32 |  | $ | (1,336) |  | $ | (3,524) |
OCI before reclassifications | (876) |  | (1) |  | (5) |  | (1) |  | 19 |  | 1 |  | (863) |
Amounts reclassified from AOCI | 26 |  | 2 |  | (1) |  | — |  | — |  | 7 |  | 34 |
OCI, before tax | (850) |  | 1 |  | (6) |  | (1) |  | 19 |  | 8 |  | (829) |
Income tax benefit (expense) | 179 |  | — |  | 2 |  | — |  | (4) |  | (2) |  | 175 |
OCI, net of tax | (671) |  | 1 |  | (4) |  | (1) |  | 15 |  | 6 |  | (654) |
Ending balance | $ | (2,948) |  | $ | (9) |  | $ | 27 |  | $ | 35 |  | $ | 47 |  | $ | (1,330) |  | $ | (4,178) |
Changes in AOCI, Net of Tax for the Nine Months Ended September 30, 2023
| Changes in
| Net Unrealized Gain (Loss) on Fixed Maturities, AFS | Unrealized Losses on Fixed Maturities, AFS with ACL | Net Gain (Loss) on Cash Flow Hedging Instruments | Foreign Currency Translation Adjustments | Liability for Future Policy Benefits Adjustments | Pension and Other Postretirement Plan Adjustments | AOCI, net of tax
Beginning balance | $ | (2,594) |  | $ | (7) |  | $ | 40 |  | $ | 31 |  | $ | 35 |  | $ | (1,346) |  | $ | (3,841) |
OCI before reclassifications | (522) |  | (7) |  | (19) |  | 5 |  | 15 |  | — |  | (528) |
Amounts reclassified from AOCI | 74 |  | 4 |  | 2 |  | — |  | — |  | 20 |  | 100 |
OCI, before tax | (448) |  | (3) |  | (17) |  | 5 |  | 15 |  | 20 |  | (428) |
Income tax benefit (expense) | 94 |  | 1 |  | 4 |  | (1) |  | (3) |  | (4) |  | 91 |
OCI, net of tax | (354) |  | (2) |  | (13) |  | 4 |  | 12 |  | 16 |  | (337) |
Ending balance | $ | (2,948) |  | $ | (9) |  | $ | 27 |  | $ | 35 |  | $ | 47 |  | $ | (1,330) |  | $ | (4,178) |
Reclassifications from AOCI |
Reclassifications from AOCI
| Three Months Ended September 30, 2024 | Nine Months Ended September 30, 2024 | Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain (Loss) on Fixed Maturities, AFS |  |  |
Fixed Maturities, AFS | $ | (50) |  | $ | (127) |  | Net realized gains (losses)
| (50) |  | (127) |  | Total before tax
| (11) |  | (27) |  | Income tax expense
| $ | (39) |  | $ | (100) |  | Net income
Unrealized Losses on Fixed Maturities, AFS with ACL |  |  |
Fixed Maturities, AFS | $ | (1) |  | $ | (1) |  | Net realized gains (losses)
| (1) |  | (1) |  | Total before tax
| — |  | — |  | Income tax expense
| $ | (1) |  | $ | (1) |  | Net income
Net Gain (Loss) on Cash Flow Hedging Instruments |  |  |
Interest rate swaps | $ | (9) |  | $ | (24) |  | Net investment income
Interest rate swaps | 4 |  | 13 |  | Interest expense
Foreign currency swaps | 3 |  | 9 |  | Net investment income
| (2) |  | (2) |  | Total before tax
| — |  | — |  | Income tax expense
| $ | (2) |  | $ | (2) |  | Net income
Pension and Other Postretirement Plan Adjustments |  |  |
Amortization of prior service credit | $ | 2 |  | $ | 5 |  | Insurance operating costs and other expenses
Amortization of actuarial loss | (11) |  | (30) |  | Insurance operating costs and other expenses
| (9) |  | (25) |  | Total before tax
| (2) |  | (5) |  | Income tax expense
| $ | (7) |  | $ | (20) |  | Net income
Total amounts reclassified from AOCI | $ | (49) |  | $ | (123) |  | Net income
Reclassifications from AOCI |
| Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | Affected Line Item in the Condensed Consolidated Statement of Operations |
Net Unrealized Gain (Loss) on Fixed Maturities, AFS |  |  |  |
Fixed Maturities, AFS | $ | (26) |  | $ | (74) |  | Net realized gains (losses) |
| (26) |  | (74) |  | Total before tax |
| (5) |  | (16) |  | Income tax expense |
| $ | (21) |  | $ | (58) |  | Net income |
Unrealized Losses on Fixed Maturities, AFS with ACL |  |  |  |
Fixed Maturities, AFS | $ | (2) |  | $ | (4) |  | Net realized gains (losses) |
| (2) |  | (4) |  | Total before tax |
| — |  | (1) |  | Income tax expense |
| $ | (2) |  | $ | (3) |  | Net income |
Net Gain (Loss) on Cash Flow Hedging Instruments |  |  |  |
Interest rate swaps | $ | (5) |  | $ | (20) |  | Net investment income |
Interest rate swaps | 4 |  | 11 |  | Interest expense |
Foreign currency swaps | 2 |  | 7 |  | Net investment income |
| 1 |  | (2) |  | Total before tax |
| — |  | — |  | Income tax expense |
| $ | 1 |  | $ | (2) |  | Net income |
Pension and Other Postretirement Plan Adjustments |  |  |  |
Amortization of prior service credit | $ | 2 |  | $ | 5 |  | Insurance operating costs and other expenses |
Amortization of actuarial loss | (9) |  | (25) |  | Insurance operating costs and other expenses |
| (7) |  | (20) |  | Total before tax |
| (1) |  | (4) |  | Income tax expense |
| $ | (6) |  | $ | (16) |  | Net income |
Total amounts reclassified from AOCI | $ | (28) |  | $ | (79) |  | Net income |

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