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Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Policy charges and fee income $ 796 $ 867 $ 2,449 $ 2,755
Premiums 259 230 744 729
Net derivative gains (losses) 68 (185) 3,118 (3,930)
Net investment income (loss) 842 997 2,357 2,914
Investment gains (losses), net:        
Credit and intent to sell losses on available for sale debt securities and loans (267) (2) (266) 4
Other investment gains (losses), net (65) 165 (624) 763
Total investment gains (losses), net (332) 163 (890) 767
Investment management and service fees 1,179 1,323 3,731 3,898
Other income 197 220 612 585
Total revenues 3,009 3,615 12,121 7,718
BENEFITS AND OTHER DEDUCTIONS        
Policyholders’ benefits 625 751 2,599 2,518
Interest credited to policyholders’ account balances 378 305 1,002 905
Compensation and benefits 566 614 1,679 1,762
Commissions and distribution-related payments 368 436 1,184 1,215
Interest expense 51 59 148 184
Amortization of deferred policy acquisition costs 105 64 446 257
Other operating costs and expenses 497 456 1,617 1,511
Total benefits and other deductions 2,590 2,685 8,675 8,352
Income (loss) from continuing operations, before income taxes 419 930 3,446 (634)
Income tax (expense) benefit (92) (165) (707) 222
Net income (loss) 327 765 2,739 (412)
Less: Net income (loss) attributable to the noncontrolling interest 54 93 165 281
Net income (loss) attributable to Holdings 273 672 2,574 (693)
Less: Preferred stock dividends 14 14 54 53
Net income (loss) available to Holdings’ common shareholders 259 658 2,520 (746)
Net income (loss) available to Holdings’ common shareholders $ 259 $ 658 $ 2,520 $ (746)
Net income (loss) applicable to Holdings’ common shareholders per common share:        
Basic (in dollars per share) $ 0.69 $ 1.60 $ 6.62 $ (1.76)
Diluted (in dollars per share) $ 0.69 $ 1.59 $ 6.58 $ (1.76)
Weighted average common shares outstanding (in millions):        
Basic (in shares) 374.5 411.3 380.6 423.2
Diluted (in shares) 376.8 414.6 382.9 423.2