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DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) $ 68 $ (185) $ 3,118 $ (3,930)
Net investment income (loss) 842 997 2,357 2,914
Interest credited to policyholders’ account balances (378) (305) (1,002) (905)
Amount Due from Reinsurers        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (364) 344 (1,506) 586
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
GMIB Reinsurance Contracts        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (196) (84) (535) (542)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
GMxB Derivative Features’ Liability        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 429 (395) 2,943 2,340
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Settlement fee       45
SCS, SIO, MSO and IUL Indexed Features        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 781 172 4,648 (2,157)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Embedded derivatives        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 650 37 5,550 227
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Derivative instruments including embedded derivative        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 68 (185) 3,118 (3,975)
Net investment income (loss) 5 0 7 0
Interest credited to policyholders’ account balances (36) (15) (46) (32)
AOCI 205 (1) 358 (34)
Not designated for hedge accounting        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (551) (196) (2,374) (4,148)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Currency swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 23 3 41 3
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (125) 67 (428) (2,375)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Futures        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 31 (2) 486 (451)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 596 (3) 3,374 (2,613)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Options        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (649) (169) (4,379) 2,177
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Futures        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (428) (93) (1,486) (891)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Swaptions        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 0 0 0 0
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Credit default swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (1) 0 13 0
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Currency forwards        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 2 1 5 2
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Margin        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 0 0 0 0
Net investment income (loss) 0   0  
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Not designated for hedge accounting | Collateral        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 0 0 0 0
Net investment income (loss) 0   0  
Interest credited to policyholders’ account balances 0 0 0 0
AOCI 0 0 0 0
Cash flow hedge | Designated for hedge accounting        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (31) (26) (58) (54)
Net investment income (loss) 5 0 7 0
Interest credited to policyholders’ account balances (36) (15) (46) (32)
AOCI 205 (1) 358 (34)
Cash flow hedge | Designated for hedge accounting | Currency swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) 7 0 21 0
Net investment income (loss) 5 0 7 0
Interest credited to policyholders’ account balances (36) (15) (46) (32)
AOCI 111 8 116 8
Cash flow hedge | Designated for hedge accounting | Swaps        
Derivatives, Fair Value [Line Items]        
Net derivative gains (losses) (38) (26) (79) (54)
Net investment income (loss) 0 0 0 0
Interest credited to policyholders’ account balances 0 0 0
AOCI $ 94 $ (9) $ 242 $ (42)