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

9 Months Ended

Sep. 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			—						427						65						492
Amortization			(376)						(34)						(26)						(436)
Interest			23						8						1						32
Unlocking			(1)						1						(1)						(1)
Adjustment for net unrealized investment losses (gains)			38						(18)						(1)						19
Purchase price allocation adjustments			61						—						—						61
Balance at September 30, 2021			$	1,211					$	606					$	74					$	1,891
			VOBA						DAC						DSI						Total
Balance at December 31, 2019			$	—					$	—					$	—					$	—
F&G acquisition			1,903						—						—						1,903
Deferrals			—						130						25						155
Amortization			(56)						(3)						(2)						(61)
Interest			12						1						—						13
Unlocking			(1)						—						—						(1)
Adjustment for net unrealized investment (gains) losses			(228)						(15)						(4)						(247)
Balance at September 30, 2020			$	1,630					$	113					$	19					$	1,762

Estimated Amortization Expense for VOBA in Future Fiscal Periods

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

			Estimated Amortization Expense
Fiscal Year
2021			$	(17)
2022			40
2023			165
2024			159
2025			153
Thereafter			956

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

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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