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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (benefit)

A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows:

			Year Ended December 31,
			2022						2021						2020
			(in millions)
Income tax (expense) benefit:
Current (expense) benefit			$	(5)					$	(129)					$	(5)
Deferred (expense) benefit			(494)						274						749
Total			$	(499)					$	145					$	744

Schedule Of Effective Income Tax Rate Reconciliation

The sources of the difference and their tax effects are as follows:

			Year Ended December 31,
			2022						2021						2020
			(in millions)
Expected income tax (expense) benefit			$	(531)					$	36					$	229
Noncontrolling interest			40						69						50
Non-taxable investment income			53						80						92
Tax audit interest			(13)						(14)						(8)
State income taxes			(63)						(47)						(38)
Tax settlements/uncertain tax position release			—						—						398
Tax credits			22						28						21
Other			(7)						(7)						—
Income tax (expense) benefit			$	(499)					$	145					$	744

Schedule Of Net Deferred Income Taxes

The components of the net deferred income taxes are as follows:

			December 31,
			2022												2021
			Assets						Liabilities						Assets						Liabilities
			(in millions)
Compensation and related benefits			$	226					$	—					$	273					$	—
Net operating loss and credits			240						—						699						—
Reserves and reinsurance			1,607						—						2,281						—
DAC			—						1,405						—						874
Unrealized investment gains/losses			2,012						—						—						965
Investments			—						235						—						794
Other			92						—						—						76
Valuation allowance			(1,570)						—						—						—
Total			$	2,607					$	1,640					$	3,253					$	2,709

Schedule of Unrecognized Tax Benefits Reconciliation

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:

			2022						2021						2020
			(in millions)
Balance at January 1,			$	323					$	316					$	501
Additions for tax positions of prior years			(9)						11						241
Reductions for tax positions of prior years			—						(4)						(382)
Additions for tax positions of current year			—						—						—
Settlements with tax authorities			—						—						(44)
Balance at December 31,			$	314					$	323					$	316
Unrecognized tax benefits that, if recognized, would impact the effective rate			$	58					$	67					$	77

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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