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Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Definite and Indefinite Lived Other Intangible Assets

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 January 1, 2021			$	1,466					$	222					$	36					$	1,724
Purchase price allocation adjustments			61						—						—						61
Deferrals			—						585						90						675
Amortization			(436)						(46)						(35)						(517)
Interest			30						13						1						44
Unlocking			13						1						(2)						12
Adjustment for net unrealized investment losses (gains)			51						(14)						(2)						35
Balance at December 31, 2021			$	1,185					$	761					$	88					$	2,034
			VOBA						DAC						DSI						Total
Balance at January 1, 2020			$	—					$	—					$	—					$	—
F&G acquisition			1,847						—						—						1,847
Deferrals			—						251						46						297
Amortization			(120)						(6)						(5)						(131)
Interest			20						2						—						22
Unlocking			2						—						—						2
Adjustment for net unrealized investment gains			(283)						(25)						(5)						(313)
Balance at December 31, 2020			$	1,466					$	222					$	36					$	1,724

Other intangible assets as of December 31, 2021 consist of the following (in millions):

			Cost						Accumulated amortization						Net carrying amount						Weighted average useful life (years)
Customer relationships and contracts			$	803					$	(651)					$	152					10
Computer software			488						(307)						181						2 to 10
Value of distribution asset (VODA)			140						(25)						115						15
Definite lived trademarks, tradenames, and other			49						(33)						16						10
Indefinite lived tradenames and other			59						N/A						59						Indefinite
Total															$	523

Other intangible assets as of December 31, 2020 consist of the following (in millions):

			Cost						Accumulated amortization						Net carrying amount						Weighted average useful life (years)
Customer relationships and contracts			$	783					$	(596)					$	187					10
Computer software			416						(262)						154						2 to 10
Value of distribution Asset (VODA)			140						(10)						130						15
Definite lived trademarks, tradenames, and other			73						(39)						34						10
Indefinite lived tradenames and other			35						N/A						35						Indefinite
Total															$	540

Estimated Amortization Expense for VOBA in Future Fiscal Periods

For the in-force liabilities as of December 31, 2021, the estimated amortization expense for VOBA in future fiscal periods is as follows (in millions):

			Estimated Amortization Expense
Fiscal Year
2022			$	2
2023			159
2024			158
2025			152
2026			140
Thereafter			806

Schedule of Other Indefinite-Lived Intangible Assets

Other intangible assets as of December 31, 2021 consist of the following (in millions):

			Cost						Accumulated amortization						Net carrying amount						Weighted average useful life (years)
Customer relationships and contracts			$	803					$	(651)					$	152					10
Computer software			488						(307)						181						2 to 10
Value of distribution asset (VODA)			140						(25)						115						15
Definite lived trademarks, tradenames, and other			49						(33)						16						10
Indefinite lived tradenames and other			59						N/A						59						Indefinite
Total															$	523

Other intangible assets as of December 31, 2020 consist of the following (in millions):

			Cost						Accumulated amortization						Net carrying amount						Weighted average useful life (years)
Customer relationships and contracts			$	783					$	(596)					$	187					10
Computer software			416						(262)						154						2 to 10
Value of distribution Asset (VODA)			140						(10)						130						15
Definite lived trademarks, tradenames, and other			73						(39)						34						10
Indefinite lived tradenames and other			35						N/A						35						Indefinite
Total															$	540

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Section 50
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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

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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.

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-Name Accounting Standards Codification
-Topic 350
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