XML 77 R64.htm IDEA: XBRL DOCUMENT v3.22.2.2
FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation for All Levels (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Total gains (losses), realized and unrealized, included in:        
Transfers into level 3     $ 191 $ 1
Transfers out of level 3     (150) (782)
GMxB derivative features’ liability        
Total gains (losses), realized and unrealized, included in:        
Settlement fee       45
Corporate | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance $ 1,767 $ 1,261 1,504 1,702
Net investment income (loss) 1 1 3 4
Investment gains (losses), net (3) (2) (3) (14)
Total realized and unrealized gains (losses) (2) (1) 0 (10)
Other comprehensive income (loss) (71) 4 (152) 30
Purchases 218 262 777 721
Sales (34) (71) (195) (277)
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 25 (2) 90 0
Transfers out of level 3 8 0 (113) (713)
Ending Balance 1,911 1,453 1,911 1,453
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (70) 4 (149) 30
State and Political Subdivisions | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 30 37 35 39
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) 0 0 0 0
Other comprehensive income (loss) (1) (1) (5) (2)
Purchases 0 0 0 0
Sales 0 0 (1) (1)
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Ending Balance 29 36 29 36
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (1) (1) (5) (2)
Asset-backed | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 18 128 8 20
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) 0 0 0 0
Other comprehensive income (loss) 1 0 0 0
Purchases (3) (121) 9 3
Sales 0 (2) (1) (18)
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 (6) 0 (6) 0
Ending Balance 10 5 10 5
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
CMBS | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 25 10 20 0
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) 0 0 0 0
Other comprehensive income (loss) 0 0 (2) 0
Purchases 7 0 14 10
Sales 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Ending Balance 32 10 32 10
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 (2) 0
Trading Securities, at Fair Value | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 52 39 65 39
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 (13) 0
Total realized and unrealized gains (losses) 0 0 (13) 0
Other comprehensive income (loss) 0 0 0 0
Purchases 0 0 0 0
Sales 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Ending Balance 52 39 52 39
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 (13) 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Fixed maturities, at FVO | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 423 148 201 80
Net investment income (loss) (20) (7) (20) 4
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) (20) (7) (20) 4
Other comprehensive income (loss) 0 0 0 0
Purchases 6 62 159 192
Sales 17 (17) (36) (26)
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 (84) (14) 101 1
Transfers out of level 3 32 10 (31) (69)
Ending Balance 374 182 374 182
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (20) 9 (9) 4
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0   0
Other equity investments | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 67 103 16 84
Net investment income (loss) (1) 1 (1) 20
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) (1) 1 (1) 20
Other comprehensive income (loss) 0 0 0 0
Purchases (49) 1 8 4
Sales 0 (91) 0 (92)
Other       0
Activity related to consolidated VIEs/VOEs 0 1 (3) (1)
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 (3) 0
Ending Balance 17 15 17 15
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (1) 1 (1) 2
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
GMIB Reinsurance Contract Asset        
Total gains (losses), realized and unrealized, included in:        
Non-performance risk 8 5 (66) 6
GMIB Reinsurance Contract Asset | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 1,498 2,026 1,848 2,488
Net investment income (loss) 0 0 0 0
Investment gains (losses), net (196) (84) (535) (542)
Total realized and unrealized gains (losses) (196) (84) (535) (542)
Other comprehensive income (loss) 0 0 0 0
Purchases 10 11 31 32
Sales (23) (16) (55) (41)
Other       0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Ending Balance 1,289 1,937 1,289 1,937
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (196) (84) (535) (542)
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Amounts Due from Reinsurers        
Total gains (losses), realized and unrealized, included in:        
Non-performance risk (16) (19) (93) (7)
Amounts Due from Reinsurers | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 4,681 5,510 5,815 0
Net investment income (loss) 0 0 0 0
Investment gains (losses), net (364) 344 (1,506) 586
Total realized and unrealized gains (losses) (364) 344 (1,506) 586
Other comprehensive income (loss) 0 0 0 0
Purchases 28 31 89 41
Sales (33) (16) (86) (17)
Other       5,259
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Ending Balance 4,312 5,869 4,312 5,869
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (364) 344 (1,506) 586
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Separate Accounts Assets | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance 1 1 1 1
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) 0 0 0 0
Other comprehensive income (loss) 0 0 0 0
Purchases 0 (1) 0 0
Sales 0 0 0 0
Other       0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 (1)
Ending Balance 1 0 1 0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
GMxB Derivative Features Liability        
Total gains (losses), realized and unrealized, included in:        
Non-performance risk (41) (92) 837 (72)
GMxB Derivative Features Liability | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance (6,180) (8,455) (8,525) (11,131)
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 429 (395) 2,943 2,340
Total realized and unrealized gains (losses) 429 (395) 2,943 2,340
Other comprehensive income (loss) 0 0 0 0
Purchases (111) (108) (347) (348)
Sales 37 20 104 61
Other       0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 140
Ending Balance (5,825) (8,938) (5,825) (8,938)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 428 (395) 2,943 2,340
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Contingent Payment Arrangement | Level 3        
Total gains (losses), realized and unrealized, included in:        
Beginning Balance (42) (38) (38) (28)
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Total realized and unrealized gains (losses) 0 0 0 0
Other comprehensive income (loss) 0 0 0 0
Purchases (228) 1 (230) (7)
Sales 0 0 0 0
Other       0
Activity related to consolidated VIEs/VOEs (3) (1) (5) (3)
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0  
Ending Balance (273) (38) (273) (38)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period $ 0 $ 0 $ 0 $ 0