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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments [Abstract]    
Fixed maturities available-for-sale, at fair value (amortized cost of $73,061 and $72,991) (allowance for credit losses of $18 and $24) $ 65,065 $ 63,361
Fixed maturities, at fair value using the fair value option [1] 1,543 1,508
Mortgage loans on real estate (net of allowance for credit losses of $139 and $129) [1] 16,969 16,481
Policy loans 4,028 4,033
Other equity investments [1] 3,179 3,152
Trading securities, at fair value 828 677
Other invested assets [1] 4,611 3,885
Total investments 96,223 93,097
Cash and cash equivalents [1] 5,018 4,281
Cash and securities segregated, at fair value 1,055 1,522
Broker-dealer related receivables 2,203 2,338
Deferred policy acquisition costs 6,419 6,369
Goodwill and other intangible assets, net 5,478 5,482
Amounts due from reinsurers (allowance for credit losses of $0 and $10) [2] 8,453 8,471
Current and deferred income taxes 1,294 781
Purchased market risk benefits 10,676 10,423
Other assets [1] 3,629 4,033
Assets held-for-sale 671 562
Assets for market risk benefits 629 490
Separate Accounts assets 119,752 114,853
Total Assets 261,500 252,702
Liabilities [Abstract]    
Policyholders’ account balances 86,761 83,866
Liability for market risk benefits 15,061 15,766
Future policy benefits and other policyholders' liabilities 16,738 16,603
Broker-dealer related payables 888 715
Customer related payables 2,595 3,323
Amounts due to reinsurers 1,428 1,533
Short-term debt 751 759
Long-term debt 3,819 3,322
Notes issued by consolidated variable interest entities, at fair value using the fair value option [1] 1,169 1,150
Other liabilities [1] 6,296 7,108
Liabilities held-for-sale 158 108
Separate Accounts liabilities 119,752 114,853
Liabilities, Total 255,416 249,106
Redeemable noncontrolling interest [1],[3] 613 455
Commitments and contingent liabilities [4]
Equity attributable to Holdings:    
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference 1,562 1,562
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 505,641,286 and 508,418,442 shares issued, respectively; 359,089,998 and 365,081,940 shares outstanding, respectively 4 4
Additional paid-in capital 2,298 2,299
Treasury stock, at cost, 146,569,130 and 143,336,502 shares, respectively (3,400) (3,297)
Retained earnings 9,806 9,825
Accumulated other comprehensive income (loss) (6,516) (8,992)
Total equity attributable to Holdings 3,754 1,401
Noncontrolling interest 1,717 1,740
Total Equity 5,471 3,141
Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 261,500 $ 252,702
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.
[2] Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.
[3] See Note 15 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.(3)    Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.
[4] See Note 16 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.