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Accounts Payable and Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Accrued Liabilities

Accounts payable and other accrued liabilities consist of the following:

			December 31,
			2023						2022
			(In millions)
Salaries and incentives			$	373					$	390
Accrued benefits			437						408
URL			270						166
Deferred revenue			91						93
Contingent consideration - acquisitions			49						47
Trade accounts payable			339						156
Accrued recording fees and transfer taxes			15						12
Accrued premium taxes			3						20
Liability for policy and contract claims			92						109
Retained asset account			81						117
Remittances and items not allocated			284						225
Option collateral liabilities			588						178
Other accrued liabilities			387						405
			$	3,009					$	2,326

The following tables roll forward URL for the years ended December 31, 2023 and December 31, 2022:

			Universal Life																		Total
			(In millions)
Balance at January 1, 2023			$	166																	$	166
Capitalization			119																		119
Amortization			(15)																		(15)
Balance at December 31, 2023			$	270																	$	270
			Universal Life																		Total
			(In millions)
Balance at January 1, 2022			$	87																	$	87
Capitalization			89																		89
Amortization			(10)																		(10)
Balance at December 31, 2022			$	166																	$	166

For IUL the cash flow assumptions used to amortize URL reflect the company’s best estimates for policyholder behavior. We review cash flow assumptions annually, generally in the third quarter. In 2023, F&G undertook a review of all significant assumptions and there were changes to IUL assumptions involving surrender rates and premium persistency. In 2022, F&G undertook a review of all significant assumptions and there were no changes with a significant impact.

Roll Forward of URL

The following tables roll forward URL for the years ended December 31, 2023 and December 31, 2022:

			Universal Life																		Total
			(In millions)
Balance at January 1, 2023			$	166																	$	166
Capitalization			119																		119
Amortization			(15)																		(15)
Balance at December 31, 2023			$	270																	$	270
			Universal Life																		Total
			(In millions)
Balance at January 1, 2022			$	87																	$	87
Capitalization			89																		89
Amortization			(10)																		(10)
Balance at December 31, 2022			$	166																	$	166

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Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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