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Value of Business Acquired, Deferred Acquisition Costs and Deferred Sales Inducements (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes Intangible Assets, VOBA and DAC DSI

A summary of the changes in the carrying amounts of our VOBA, DAC and DSI intangible assets are as follows (in millions):

			VOBA						DAC						DSI						Total
Balance at December 31, 2020			$	1,466					$	222					$	36					$	1,724
Deferrals			—						278						44						322
Amortization			(204)						(16)						(12)						(232)
Interest			15						5						—						20
Unlocking			16						—						1						17
Adjustment for net unrealized investment (gains) losses			(15)						(27)						(5)						(47)
Purchase price allocation adjustments			61
Balance at June 30, 2021			$	1,339					$	462					$	64					$	1,804
			VOBA						DAC						DSI						Total
Balance at December 31, 2019			$	—					$	—					$	—					$	—
F&G acquisition			1,890						—						—						1,890
Deferrals			—						28						6						34
Amortization			(3)						—						—						(3)
Interest			3						—						—						3
Adjustment for net unrealized investment (gains) losses			(101)						(8)						(2)						(111)
Balance at June 30, 2020			$	1,789					$	20					$	4					$	1,813

Estimated Amortization Expense for VOBA in Future Fiscal Periods

For the inforce liabilities as of June 30, 2021, the estimated amortization expense for VOBA in future fiscal periods is as follows (in millions):

			Estimated Amortization Expense
Fiscal Year
2021			$	29
2022			166
2023			187
2024			178
2025			171
Thereafter			906

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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