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DAC AND POLICYHOLDER BONUS INTEREST CREDITS (Tables)

12 Months Ended

Dec. 31, 2022

Contract holder Bonus Interest Credits [Abstract]

Schedule of Contractholder Bonus Interest Credits

Changes in the DAC asset for the years ended December 31, 2022, 2021 and 2020 were as follows:


	December 31,
	2022		2021		2020
	(in millions)
Balance, beginning of year	$	5,491	$	4,243	$	5,840
Capitalization of commissions, sales and issue expenses	842		875		669
Amortization:
Impact of assumptions updates and model changes	43		58		(1,109)
All other	(585)		451		(504)
Total amortization	(542)		(393)		(1,613)
Change in unrealized investment gains and losses	2,367		766		(654)
Reclassified to assets HFS	—		—		1
Balance, end of year	$	8,158	$	5,491	$	4,243

The deferred asset for policyholder bonus interest credits is reported in other assets in the consolidated balance sheets and changes in the deferred asset for policyholder bonus interest credits are reported in Interest credited to policyholders’ account balances. For the years ended December 31, 2022, 2021 and 2020 changes were as follows:


	Year Ended December 31,
	2022		2021		2020
	(in millions)
Balance, beginning of year	$	373	$	404	$	430
Amortization charged to income	(39)		(31)		(26)
Balance, end of year	$	334	$	373	$	404