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Liability for Future Policy Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Liability for Future Policy Benefit

			January 1, 2021
			Benefit Reserves(1)
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other						Other Businesses(2)						Total
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long- Term Care
			(in millions)
Balance prior to transition			$	65,383					$	7,887					$	51,607					$	69,542					$	7,975					$	6,624					$	209,018
Changes in cash flow assumptions and other activity			(3,805)						0						10						(523)						(18)						1						(4,335)
Balance after transition, at original discount rate			61,578						7,887						51,617						69,019						7,957						6,625						204,683
Cumulative changes in discount rate assumptions and other activity			13,548						2,662						22,590						13,784						4,905						5,381						62,870
Balance after transition, at current discount rate			75,126						10,549						74,207						82,803						12,862						12,006						267,553
Less: Reinsurance recoverable			0						799						160						307						0						13						1,279
Balance after transition, net of reinsurance recoverable			$	75,126					$	9,750					$	74,047					$	82,496					$	12,862					$	11,993					$	266,274

__________

(1)Benefit reserves, excluding amounts for reinsurance recoverable, are included in “Future policy benefits.” For additional information regarding the liability for future policy benefits, see Note 12.

(2)Primarily represents benefit reserves related to the Prudential of Taiwan business that was sold in the second quarter of 2021. The Company did not choose to apply ASU 2022-05 to this disposal transaction. See Note 2 for additional information.

			January 1, 2021
			Deferred Profit Liability(1)
			Retirement Strategies						International Businesses												Other Businesses						Total
			Institutional						Life Planner						Gibraltar Life and Other
			(in millions)
Balance prior to transition			$	1,315					$	1,964					$	3,746					$	349					$	7,374
Changes in benefit reserves			3,801						110						730						148						4,789
Balance after transition			5,116						2,074						4,476						497						12,163
Less: Reinsurance recoverable			0						7						15						0						22
Balance after transition, net of reinsurance recoverable			$	5,116					$	2,067					$	4,461					$	497					$	12,141

__________

(1)Deferred profit liability (“DPL”), excluding amounts for reinsurance recoverable, is included in “Future policy benefits.” For additional information regarding the liability for future policy benefits, see Note 12.

			January 1, 2021
			Additional Insurance Reserves(1)
			Retirement Strategies						Individual Life						Other Businesses						Total
			Individual Variable						Variable/ Universal Life
			(in millions)
Balance prior to transition			$	889					$	9,415					$	483					$	10,787
Unwinding amounts related to unrealized investment gains and losses			(65)						(1,444)						(106)						(1,615)
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			824						7,971						377						9,172
Reclassification of future policy benefits AIR to MRBs			(824)						0						(92)						(916)
Reclassification of policyholders’ account balances AIR to MRBs			0						0						(48)						(48)
Updates to certain universal life contract liabilities(2)			0						1,772						7						1,779
Change in discount rate for annuitization benefits			0						0						116						116
Balance after transition, excluding amounts related to unrealized investment gains and losses			0						9,743						360						10,103
Amounts related to unrealized investment gains and losses after transition			0						1,186						0						1,186
Balance after transition			0						10,929						360						11,289
Less: Reinsurance recoverable			0						4,387						0						4,387
Balance after transition, net of reinsurance recoverable			$	0					$	6,542					$	360					$	6,902

__________

(1)Additional insurance reserves (“AIR”), excluding amounts for reinsurance recoverable, are included in “Future policy benefits.” For additional information regarding the liability for future policy benefits, see Note 12.

(2)For additional information regarding updates to reserves and other related balances for certain universal life contracts, see Note 2.

			January 1, 2021
			Universal Life Loss Recognition Reserves/Profit Followed by Losses Liability(1)
			Individual Life						Other Businesses
															Total
			(in millions)
Balance prior to transition			$	1,823					$	6					$	1,829
Unwinding amounts related to unrealized investment gains and losses			(1,149)						0						(1,149)
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			674						6						680
Derecognizing LRR & PFL			(674)						0						(674)
Balance after transition, excluding amounts related to unrealized investment gains and losses			0						6						6
Amounts related to unrealized investment gains and losses after transition			1,018						0						1,018
Balance after transition			$	1,018					$	6					$	1,024

__________

(1)Universal life loss recognition reserves (“LRR”) / profit followed by losses (“PFL”) liability are included in “Future policy benefits.” For additional information regarding the liability for future policy benefits, see Note 12.

			January 1, 2021
			Non-Participating Traditional and Limited-Payment Loss Recognition Reserves/Profit Followed by Losses Liability(1)
			Retirement Strategies						International Businesses												Corporate and Other						Other Businesses						Total
			Institutional						Life Planner						Gibraltar Life and Other						Long- Term Care
			(in millions)
Balance prior to transition			$	1,985					$	181					$	670					$	734					$	145					$	3,715
Unwinding amounts related to unrealized investment gains and losses			(1,985)						(169)						(670)						(734)						(105)						(3,663)
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			0						12						0						0						40						52
Derecognizing LRR & PFL			0						(12)						0						0						(40)						(52)
Balance after transition			$	0					$	0					$	0					$	0					$	0					$	0

__________

(1)Prior to the adoption of ASU 2018-12, non-participating traditional and limited-payment loss recognition reserves / profit followed by losses liabilities were included in “Future policy benefits.”

			January 1, 2021
			Terminal Dividend Liability(1)
			Individual Life												Closed Block Division						Total
			Variable/ Universal Life						Term Life
			(in millions)
Balance prior to transition			$	212					$	4					$	375					$	591
Unwinding amounts related to unrealized investment gains and losses and other activity			(11)						0						0						(11)
Balance after transition			201						4						375						580
Less: Reinsurance recoverable			0						0						0						0
Balance after transition, net of reinsurance recoverable			$	201					$	4					$	375					$	580

__________

(1)Terminal dividend liability is included in “Future policy benefits.”

The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits.

			Year Ended December 31, 2023
			Present Value of Expected Net Premiums
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	52,620					$	11,282					$	30,689					$	28,951					$	2,932					$	126,474
Effect of cumulative changes in discount rate assumptions, BOP			14,349						572						1,354						1,326						103						17,704
Balance at original discount rate, BOP			66,969						11,854						32,043						30,277						3,035						144,178
Effect of assumption update			(1,117)						(1)						78						(175)						266						(949)
Effect of actual variances from expected experience and other activity			540						(223)						(1,092)						(845)						161						(1,459)
Adjusted balance, BOP			66,392						11,630						31,029						29,257						3,462						141,770
Issuances			20,914						750						2,292						1,583						0						25,539
Net premiums / considerations collected			(10,389)						(1,413)						(3,917)						(3,720)						(317)						(19,756)
Interest accrual			2,233						538						889						780						157						4,597
Foreign currency adjustment			4,126						0						(756)						(907)						0						2,463
Other adjustments			0						(3)						123						(4)						0						116
Balance at original discount rate, EOP			83,276						11,502						29,660						26,989						3,302						154,729
Effect of cumulative changes in discount rate assumptions, EOP			(11,869)						(228)						(596)						(622)						(16)						(13,331)
Balance, EOP			$	71,407					$	11,274					$	29,064					$	26,367					$	3,286					141,398
Other businesses, EOP																																	86
Total balance, EOP																																	$	141,484

			Year Ended December 31, 2023
			Present Value of Expected Future Policy Benefits
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	117,754					$	19,288					$	78,639					$	80,331					$	10,685					$	306,697
Effect of cumulative changes in discount rate assumptions, BOP			20,170						1,012						3,719						11,266						1,216						37,383
Balance at original discount rate, BOP			137,924						20,300						82,358						91,597						11,901						344,080
Effect of assumption update			(1,289)						(1)						145						44						357						(744)
Effect of actual variances from expected experience and other activity			514						(269)						(1,030)						(806)						160						(1,431)
Adjusted balance, BOP			137,149						20,030						81,473						90,835						12,418						341,905
Issuances			20,914						750						2,292						1,583						0						25,539
Interest accrual			5,109						944						2,615						2,287						594						11,549
Benefit payments			(11,477)						(1,522)						(3,965)						(5,057)						(270)						(22,291)
Foreign currency adjustment			4,209						0						(2,286)						(3,229)						0						(1,306)
Other adjustments			(18)						(16)						256						(28)						0						194
Balance at original discount rate, EOP			155,886						20,186						80,385						86,391						12,742						355,590
Effect of cumulative changes in discount rate assumptions, EOP			(14,751)						(334)						(563)						(7,355)						(603)						(23,606)
Balance, EOP			$	141,135					$	19,852					$	79,822					$	79,036					$	12,139					331,984
Other businesses, EOP																																	1,716
Total balance, EOP																																	$	333,700

			Year Ended December 31, 2023
			Net Liability for Future Policy Benefits - Benefit Reserves
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, EOP, pre-flooring			$	69,728					$	8,578					$	50,757					$	52,669					$	8,852					$	190,584
Flooring impact, EOP			61						0						19						6						0						86
Balance, EOP, post-flooring			69,789						8,578						50,776						52,675						8,852						190,670
Less: Reinsurance recoverable			5,539						744						102						202						0						6,587
Balance after reinsurance recoverable, EOP, post-flooring			$	64,250					$	7,834					$	50,674					$	52,473					$	8,852					184,083
Other businesses, EOP(1)																																	1,563
Total balance after reinsurance recoverable, EOP																																	$	185,646

			Year Ended December 31, 2022
			Present Value of Expected Net Premiums
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	68,791					$	12,971					$	39,517					$	37,815					$	3,585					$	162,679
Effect of cumulative changes in discount rate assumptions, BOP			(4,414)						(1,892)						(3,516)						(3,239)						(644)						(13,705)
Balance at original discount rate, BOP			64,377						11,079						36,001						34,576						2,941						148,974
Effect of assumption update			249						1,313						(76)						(176)						49						1,359
Effect of actual variances from expected experience and other activity			371						(139)						(1,621)						(989)						184						(2,194)
Adjusted balance, BOP			64,997						12,253						34,304						33,411						3,174						148,139
Issuances			22,064						476						3,031						2,370						0						27,941
Net premiums / considerations collected			(14,765)						(1,404)						(4,149)						(4,218)						(284)						(24,820)
Interest accrual			1,640						542						935						859						145						4,121
Foreign currency adjustment			(6,967)						0						(2,220)						(2,145)						0						(11,332)
Other adjustments			0						(13)						142						0						0						129
Balance at original discount rate, EOP			66,969						11,854						32,043						30,277						3,035						144,178
Effect of cumulative changes in discount rate assumptions, EOP			(14,349)						(572)						(1,354)						(1,326)						(103)						(17,704)
Balance, EOP			$	52,620					$	11,282					$	30,689					$	28,951					$	2,932					126,474
Other businesses, EOP																																	88
Total balance, EOP																																	$	126,562

			Year Ended December 31, 2022
			Present Value of Expected Future Policy Benefits
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	142,593					$	22,768					$	109,562					$	114,846					$	15,810					$	405,579
Effect of cumulative changes in discount rate assumptions, BOP			(13,706)						(3,876)						(21,554)						(13,476)						(4,482)						(57,094)
Balance at original discount rate, BOP			128,887						18,892						88,008						101,370						11,328						348,485
Effect of assumption update			(187)						1,777						(115)						(164)						49						1,360
Effect of actual variances from expected experience and other activity			273						(218)						(1,730)						(892)						208						(2,359)
Adjusted balance, BOP			128,973						20,451						86,163						100,314						11,585						347,486
Issuances			22,064						476						3,031						2,370						0						27,941
Interest accrual			4,231						937						2,641						2,399						554						10,762
Benefit payments			(9,629)						(1,547)						(3,725)						(5,975)						(238)						(21,114)
Foreign currency adjustment			(7,180)						0						(6,043)						(7,489)						0						(20,712)
Other adjustments			(535)						(17)						291						(22)						0						(283)
Balance at original discount rate, EOP			137,924						20,300						82,358						91,597						11,901						344,080
Effect of cumulative changes in discount rate assumptions, EOP			(20,170)						(1,012)						(3,719)						(11,266)						(1,216)						(37,383)
Balance, EOP			$	117,754					$	19,288					$	78,639					$	80,331					$	10,685					306,697
Other businesses, EOP																																	1,921
Total balance, EOP																																	$	308,618

			Year Ended December 31, 2022
			Net Liability for Future Policy Benefits - Benefit Reserves
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, EOP, pre-flooring			$	65,134					$	8,006					$	47,950					$	51,380					$	7,753					$	180,223
Flooring impact, EOP			1						0						106						140						0						247
Balance, EOP, post-flooring			65,135						8,006						48,056						51,520						7,753						180,470
Less: Reinsurance recoverable			0						708						126						203						0						1,037
Balance after reinsurance recoverable, EOP, post-flooring			$	65,135					$	7,298					$	47,930					$	51,317					$	7,753					179,433
Other businesses, EOP(1)																																	1,758
Total balance after reinsurance recoverable, EOP																																	$	181,191

			Year Ended December 31, 2021
			Present Value of Expected Net Premiums
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	69,421					$	12,851					$	43,283					$	41,537					$	4,503					$	171,595
Effect of cumulative changes in discount rate assumptions, BOP			(8,193)						(2,475)						(5,080)						(4,479)						(1,004)						(21,231)
Balance at original discount rate, BOP			61,228						10,376						38,203						37,058						3,499						150,364
Effect of assumption update			(2,344)						41						(624)						124						(490)						(3,293)
Effect of actual variances from expected experience and other activity			(710)						531						(159)						(252)						79						(511)
Adjusted balance, BOP			58,174						10,948						37,420						36,930						3,088						146,560
Issuances			15,622						788						4,168						3,495						0						24,073
Net premiums / considerations collected			(10,577)						(1,230)						(4,477)						(4,745)						(281)						(21,310)
Interest accrual			1,710						499						983						918						148						4,258
Foreign currency adjustment			(624)						0						(2,283)						(2,025)						0						(4,932)
Other adjustments			72						74						190						3						(14)						325
Balance at original discount rate, EOP			64,377						11,079						36,001						34,576						2,941						148,974
Effect of cumulative changes in discount rate assumptions, EOP			4,414						1,892						3,516						3,239						644						13,705
Balance, EOP			$	68,791					$	12,971					$	39,517					$	37,815					$	3,585					162,679
Other businesses, EOP																																	120
Total balance, EOP																																	$	162,799

			Year Ended December 31, 2021
			Present Value of Expected Future Policy Benefits
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, BOP			$	144,315					$	23,400					$	117,484					$	124,342					$	17,365					$	426,906
Effect of cumulative changes in discount rate assumptions, BOP			(21,509)						(5,137)						(27,664)						(18,263)						(5,909)						(78,482)
Balance at original discount rate, BOP			122,806						18,263						89,820						106,079						11,456						348,424
Effect of assumption update			(2,458)						42						(619)						145						(509)						(3,399)
Effect of actual variances from expected experience and other activity			(818)						539						(97)						(215)						63						(528)
Adjusted balance, BOP			119,530						18,844						89,104						106,009						11,010						344,497
Issuances			15,622						788						4,168						3,495						0						24,073
Interest accrual			4,054						866						2,718						2,516						534						10,688
Benefit payments			(9,613)						(1,658)						(2,553)						(3,750)						(199)						(17,773)
Foreign currency adjustment			(611)						0						(5,833)						(6,862)						0						(13,306)
Other adjustments			(95)						52						404						(38)						(17)						306
Balance at original discount rate, EOP			128,887						18,892						88,008						101,370						11,328						348,485
Effect of cumulative changes in discount rate assumptions, EOP			13,706						3,876						21,554						13,476						4,482						57,094
Balance, EOP			$	142,593					$	22,768					$	109,562					$	114,846					$	15,810					405,579
Other businesses, EOP																																	2,623
Reclassified to “Liabilities held-for-sale”																																	(264)
Total balance, EOP																																	$	407,938

			Year Ended December 31, 2021
			Net Liability for Future Policy Benefits - Benefit Reserves
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care						Total
			(in millions)
Balance, EOP, pre-flooring			$	73,802					$	9,797					$	70,045					$	77,031					$	12,225					$	242,900
Flooring impact, EOP			327						1						4						1						0						333
Balance, EOP, post-flooring			74,129						9,798						70,049						77,032						12,225						243,233
Less: Reinsurance recoverable			0						532						142						279						0						953
Balance after reinsurance recoverable, EOP, post-flooring			$	74,129					$	9,266					$	69,907					$	76,753					$	12,225					242,280
Other businesses, EOP(1)																																	2,500
Reclassified to “Liabilities held-for-sale”																																	(264)
Total balance after reinsurance recoverable, EOP																																	$	244,516

__________

(1)Reflects balance after reinsurance recoverable of $69 million, $76 million, and $5 million at December 31, 2023, 2022 and 2021, respectively.

The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the period indicated:

			Year Ended December 31, 2023
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care
			($ in millions)
Undiscounted expected future gross premiums			$	134,192					$	23,083					$	69,238					$	56,398					$	6,852
Discounted expected future gross premiums (at original discount rate)			$	90,606					$	15,322					$	53,640					$	45,319					$	4,509
Discounted expected future gross premiums (at current discount rate)			$	77,520					$	15,044					$	53,102					$	44,420					$	4,491
Undiscounted expected future benefits and expenses			$	242,617					$	31,114					$	139,620					$	141,171					$	30,761
Interest accrual			$	2,876					$	406					$	1,726					$	1,507					$	437
Gross premiums			$	11,156					$	1,848					$	6,199					$	6,154					$	448
Weighted-average duration of the liability in years (at original discount rate)			9						10						19						19						18
Weighted-average duration of the liability in years (at current discount rate)			8						10						19						17						17
Weighted-average interest rate (at original discount rate)			4.62		%				5.17		%				3.43		%				2.57		%				4.91		%
Weighted-average interest rate (at current discount rate)			5.03		%				4.99		%				3.06		%				2.97		%				5.25		%

			Year Ended December 31, 2022
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care
			($ in millions)
Undiscounted expected future gross premiums			$	103,284					$	23,526					$	74,196					$	64,059					$	6,971
Discounted expected future gross premiums (at original discount rate)			$	72,479					$	15,628					$	57,985					$	50,968					$	4,539
Discounted expected future gross premiums (at current discount rate)			$	56,950					$	14,886					$	56,068					$	48,902					$	4,391
Undiscounted expected future benefits and expenses			$	209,770					$	31,412					$	148,331					$	155,711					$	29,613
Interest accrual			$	2,591					$	395					$	1,706					$	1,540					$	409
Gross premiums			$	15,427					$	1,875					$	6,731					$	6,987					$	441
Weighted-average duration of the liability in years (at original discount rate)			8						10						20						20						19
Weighted-average duration of the liability in years (at current discount rate)			8						10						19						18						18
Weighted-average interest rate (at original discount rate)			4.37		%				5.21		%				3.40		%				2.50		%				4.91		%
Weighted-average interest rate (at current discount rate)			5.39		%				5.39		%				3.12		%				2.98		%				5.63		%

			Year Ended December 31, 2021
			Retirement Strategies						Individual Life						International Businesses												Corporate and Other
			Institutional						Term Life						Life Planner						Gibraltar Life and Other						Long-Term Care
			($ in millions)
Undiscounted expected future gross premiums			$	96,352					$	25,411					$	80,678					$	72,701					$	7,261
Discounted expected future gross premiums (at original discount rate)			$	69,809					$	16,565					$	63,169					$	58,073					$	4,646
Discounted expected future gross premiums (at current discount rate)			$	74,714					$	19,480					$	69,781					$	63,540					$	5,645
Undiscounted expected future benefits and expenses			$	193,871					$	29,247					$	159,177					$	168,706					$	29,382
Interest accrual			$	2,344					$	367					$	1,735					$	1,598					$	386
Gross premiums			$	11,022					$	1,867					$	7,376					$	8,000					$	433
Weighted-average duration of the liability in years (at original discount rate)			9						10						21						20						19
Weighted-average duration of the liability in years (at current discount rate)			10						11						23						21						21
Weighted-average interest rate (at original discount rate)			4.17		%				5.25		%				3.38		%				2.42		%				4.90		%
Weighted-average interest rate (at current discount rate)			2.74		%				2.55		%				1.66		%				1.60		%				3.02		%

The balances of and changes in Deferred Profit Liability as of and for the period indicated are as follows:

			Year Ended December 31, 2023
			Deferred Profit Liability
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other						Total
			(in millions)
Balance, BOP			$	5,532					$	3,379					$	5,261					$	14,172
Flooring impact, BOP			0						0						1						1
Balance, BOP, pre-flooring			5,532						3,379						5,260						14,171
Effect of assumption update			35						(67)						(228)						(260)
Effect of actual variances from expected experience and other activity			21						(14)						(61)						(54)
Adjusted balance, BOP			5,588						3,298						4,971						13,857
Profits deferred			342						1,674						1,331						3,347
Interest accrual			227						148						152						527
Amortization			(565)						(1,158)						(1,015)						(2,738)
Foreign currency adjustment			15						(39)						(137)						(161)
Other adjustments			8						32						0						40
Balance, EOP, pre-flooring			5,615						3,955						5,302						14,872
Flooring impact, EOP			0						1						1						2
Balance, EOP			5,615						3,956						5,303						14,874
Less: Reinsurance recoverable			386						9						10						405
Balance after reinsurance recoverable			$	5,229					$	3,947					$	5,293					14,469
Other businesses																					148
Total balance after reinsurance recoverable																					$	14,617

			Year Ended December 31, 2022
			Deferred Profit Liability
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other						Total
			(in millions)
Balance, BOP			$	5,183					$	2,741					$	5,014					$	12,938
Flooring impact, BOP			0						0						1						1
Balance, BOP, pre-flooring			5,183						2,741						5,013						12,937
Effect of assumption update			382						28						(5)						405
Effect of actual variances from expected experience and other activity			102						(1)						(110)						(9)
Adjusted balance, BOP			5,667						2,768						4,898						13,333
Profits deferred			230						1,725						1,555						3,510
Interest accrual			214						123						143						480
Amortization			(548)						(1,131)						(1,036)						(2,715)
Foreign currency adjustment			(30)						(131)						(300)						(461)
Other adjustments			(1)						25						0						24
Balance, EOP, pre-flooring			5,532						3,379						5,260						14,171
Flooring impact, EOP			0						0						1						1
Balance, EOP			5,532						3,379						5,261						14,172
Less: Reinsurance recoverable			0						8						10						18
Balance after reinsurance recoverable			$	5,532					$	3,371					$	5,251					14,154
Other businesses																					183
Total balance after reinsurance recoverable																					$	14,337

			Year Ended December 31, 2021
			Deferred Profit Liability
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other						Total
			(in millions)
Balance, BOP			$	5,116					$	2,074					$	4,476					$	11,666
Flooring impact, BOP			0						0						0						0
Balance, BOP, pre-flooring			5,116						2,074						4,476						11,666
Effect of assumption update			112						4						(12)						104
Effect of actual variances from expected experience and other activity			180						0						(3)						177
Adjusted balance, BOP			5,408						2,078						4,461						11,947
Profits deferred			104						1,769						1,743						3,616
Interest accrual			202						94						127						423
Amortization			(527)						(1,108)						(1,054)						(2,689)
Foreign currency adjustment			(4)						(127)						(268)						(399)
Other adjustments			0						35						4						39
Balance, EOP, pre-flooring			5,183						2,741						5,013						12,937
Flooring impact, EOP			0						0						1						1
Balance, EOP			5,183						2,741						5,014						12,938
Less: Reinsurance recoverable			0						8						16						24
Balance after reinsurance recoverable			$	5,183					$	2,733					$	4,998					12,914
Other businesses																					227
Reclassified to “Liabilities held-for-sale”																					(25)
Total balance after reinsurance recoverable																					$	13,116

The following tables provide supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the period indicated:

			Year Ended December 31, 2023
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other
			(in millions)
Revenue(1)			$	(68)					$	(615)					$	(179)
Interest accrual			$	227					$	148					$	152

			Year Ended December 31, 2022
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other
			(in millions)
Revenue(1)			$	(378)					$	(773)					$	(547)
Interest accrual			$	214					$	123					$	143

			Year Ended December 31, 2021
			Retirement Strategies						International Businesses
			Institutional						Life Planner						Gibraltar Life and Other
			(in millions)
Revenue(1)			$	(70)					$	(792)					$	(805)
Interest accrual			$	202					$	94					$	127

__________

(1)Represents the gross premiums collected in changes in Deferred Profit Liability excluding impact of foreign currency adjustments.

The following table shows a rollforward of AIR balances for variable and universal life products within Individual Life, which is the only line of business that contains a material AIR balance, for the period indicated, along with a reconciliation to the Company’s total AIR balance:

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Balance, including amounts in AOCI, BOP, post-flooring			$	12,684					$	11,708					$	10,929
Flooring impact and amounts in AOCI			1,285						(909)						(1,186)
Balance, excluding amounts in AOCI, BOP, pre-flooring			13,969						10,799						9,743
Effect of assumption update			23						2,200						(1)
Effect of actual variances from expected experience and other activity			32						(221)						55
Adjusted balance, BOP			14,024						12,778						9,797
Assessments collected(1)			938						973						858
Interest accrual			488						435						347
Benefits paid			(301)						(217)						(203)
Other adjustments			2						0						0
Balance, excluding amounts in AOCI, EOP, pre-flooring			15,151						13,969						10,799
Flooring impact and amounts in AOCI			(843)						(1,285)						909
Balance, including amounts in AOCI, EOP, post-flooring			14,308						12,684						11,708
Less: Reinsurance recoverable			5,852						5,075						4,623
Balance after reinsurance recoverable, including amounts in AOCI, EOP			8,456						7,609						7,085
Other businesses			131						138						226
Total balance after reinsurance recoverable			$	8,587					$	7,747					$	7,311

__________

(1)Represents the portion of gross assessments required to fund the future policy benefits.

			Year Ended December 31,
			2023						2022						2021
			($ in millions)
Interest accrual			$	488					$	435					$	347
Gross assessments			$	2,947					$	2,678					$	3,018
Weighted-average duration of the liability in years (at original discount rate)			22						23						19
Weighted-average interest rate (at original discount rate)			3.40		%				3.38		%				3.38		%

The following table presents the reconciliation of the ending balances from above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverable, to the total liability for Future Policy Benefits on the Company's Consolidated Statement of Financial Position as of the periods indicated:

			Year Ended December 31,
			2023						2022						2021
			(in millions)
Benefit reserves, EOP, post-flooring			$	192,302					$	182,304					$	245,474
Deferred profit liability, EOP, post-flooring			15,022						14,356						13,140
Additional insurance reserves, including amounts in AOCI, EOP, post-flooring			14,439						12,822						11,934
Subtotal of amounts disclosed above			221,763						209,482						270,548
Other Future Policy Benefits reserves(1)			51,518						52,291						54,394
Total Future Policy Benefits			$	273,281					$	261,773					$	324,942

__________

(1)Primarily represents balances for which disaggregated rollforward disclosures are not required, including Closed Block liabilities, unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities.

The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations as of the periods indicated:

			Year Ended December 31, 2023
			Revenues(1)
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	11,156					$	1,848					$	0					$	6,199					$	6,154					$	540					$	25,897
Deferred profit liability			(68)						0						0						(615)						(179)						34						(828)
Additional insurance reserves			0						0						2,947						0						0						0						2,947
Total			$	11,088					$	1,848					$	2,947					$	5,584					$	5,975					$	574					$	28,016

			Year Ended December 31, 2022
			Revenues(1)
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	15,427					$	1,875					$	0					$	6,731					$	6,987					$	522					$	31,542
Deferred profit liability			(378)						0						0						(773)						(547)						42						(1,656)
Additional insurance reserves			0						0						2,678						1						0						0						2,679
Total			$	15,049					$	1,875					$	2,678					$	5,959					$	6,440					$	564					$	32,565

			Year Ended December 31, 2021
			Revenues(1)
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	11,022					$	1,867					$	0					$	7,376					$	8,000					$	538					$	28,803
Deferred profit liability			(70)						0						0						(792)						(805)						270						(1,397)
Additional insurance reserves			0						0						3,018						0						0						0						3,018
Total			$	10,952					$	1,867					$	3,018					$	6,584					$	7,195					$	808					$	30,424

			Year Ended December 31, 2023
			Interest Expense
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	2,876					$	406					$	0					$	1,726					$	1,507					$	490					$	7,005
Deferred profit liability			227						0						0						148						152						4						531
Additional insurance reserves			0						0						488						2						0						0						490
Total			$	3,103					$	406					$	488					$	1,876					$	1,659					$	494					$	8,026

			Year Ended December 31, 2022
			Interest Expense
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	2,591					$	395					$	0					$	1,706					$	1,540					$	464					$	6,696
Deferred profit liability			214						0						0						123						143						6						486
Additional insurance reserves			0						0						435						3						0						0						438
Total			$	2,805					$	395					$	435					$	1,832					$	1,683					$	470					$	7,620

			Year Ended December 31, 2021
			Interest Expense
			Retirement Strategies						Individual Life												International Businesses
			Institutional						Term Life						Variable/Universal Life						Life Planner						Gibraltar Life and Other						Other Businesses(2)						Total
			(in millions)
Benefit reserves			$	2,344					$	367					$	0					$	1,735					$	1,598					$	445					$	6,489
Deferred profit liability			202						0						0						94						127						6						429
Additional insurance reserves			0						0						347						4						1						0						352
Total			$	2,546					$	367					$	347					$	1,833					$	1,726					$	451					$	7,270

__________

(1)Represents “Gross premiums” for benefit reserves, “Revenue” for deferred profit liability and “Gross assessments” for additional insurance reserves.

(2)Includes remaining balances disclosed above and balances for which disaggregated rollforward disclosures may not be presented above.

X

- References

No definition available.

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X

- Definition

Tabular disclosure of beginning balance to ending balance for liability for future policy benefit, with separate presentation of expected future net premium and expected future benefit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 29E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480046/944-40-55-29E

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480081/944-40-50-6

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