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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Earnings (Loss)
Treasury Stock
Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2021   325,000,000          
Beginning balance, Treasury stock (in shares) at Dec. 31, 2021           42,000,000  
Beginning balance at Dec. 31, 2021 $ 10,006 $ 0 $ 5,811 $ 4,818 $ 879 $ (1,545) $ 43
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options 3   3        
Treasury stock repurchased (in shares)           3,000,000  
Treasury stock repurchased (134)         $ (134)  
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments (1,904)       (1,904)    
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates 7 [1]       7    
Other comprehensive loss - unrealized loss on foreign currency translation (2) [2]       (2)    
Reclassification adjustments for change in unrealized gains and losses included in net earnings 25 [3]       25    
Change in instrument-specific credit risk - market risk benefits 33       33    
Changes in current discount rate - future policy benefits 292       292    
Other comprehensive loss associated with noncontrolling interests 0            
Stock-based compensation 12   12        
Dividends declared, per common share (124)     (124)      
Subsidiary dividends declared to non-controlling interests (4)           (4)
Net (loss) earnings 402     400     2
Ending balance (in shares) at Mar. 31, 2022   326,000,000          
Ending balance, Treasury stock (in shares) at Mar. 31, 2022           45,000,000  
Ending balance at Mar. 31, 2022 $ 8,612 $ 0 5,826 5,094 (670) $ (1,679) 41
Beginning balance (in shares) at Dec. 31, 2022   328,000,000          
Beginning balance, Treasury stock (in shares) at Dec. 31, 2022 55,447,459         55,000,000  
Beginning balance at Dec. 31, 2022 $ 6,569 $ 0 5,870 5,225 (2,870) $ (2,109) 453
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Exercise of stock options (in shares)   1,000,000          
Treasury stock repurchased (in shares)           0  
Treasury stock repurchased (4)         $ (4)  
Purchase of incremental share in consolidated subsidiaries (20)   (12)       (8)
Other comprehensive earnings/loss - unrealized gain/loss on investments and other financial instruments 349       349    
Other comprehensive earnings - unrealized gain on investments in unconsolidated affiliates 11 [1]       11    
Other comprehensive loss - unrealized loss on foreign currency translation 1 [2]       1    
Reclassification adjustments for change in unrealized gains and losses included in net earnings 35 [3]       35    
Change in instrument-specific credit risk - market risk benefits 7       7    
Changes in current discount rate - future policy benefits (100)       (100)    
Other comprehensive loss associated with noncontrolling interests (43)       (43)   43
Stock-based compensation 13   13        
Dividends declared, per common share (122)     (122)      
Subsidiary dividends declared to non-controlling interests (3)           (3)
Net (loss) earnings $ (88)     (59)     (29)
Ending balance (in shares) at Mar. 31, 2023   328,000,000          
Ending balance, Treasury stock (in shares) at Mar. 31, 2023 55,553,182         55,000,000  
Ending balance at Mar. 31, 2023 $ 6,648 $ 0 $ 5,871 $ 5,044 $ (2,610) $ (2,113) $ 456
[1] Net of income tax expense of $3 million and $2 million for the three months ended March 31, 2023 and 2022, respectively.
[2] Net of income tax expense of less than $1 million for the three months ended March 31, 2023 and 2022.
[3] Net of income tax expense of $9 million and $7 million for the three months ended March 31, 2023 and 2022, respectively.
(5)Net of income tax (benefit) expense of $(27) million and $78 million for the three months ended March 31, 2023 and 2022, respectively.
(6)Net of income tax expense of $2 million and $9 million for the three months ended March 31, 2023 and 2022, respectively.
(7)Net of income tax benefit of $11 million for the three months ended March 31, 2023.