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Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES    
Policy charges and fee income $ 588 $ 650
Premiums 276 247
Net derivative gains (losses) (841) 159
Net investment income (loss) 990 804
Investment gains (losses), net:    
Credit and intent to sell losses on available for sale debt securities and loans (66) 10
Other investment gains (losses), net (21) (336)
Total investment gains (losses), net (87) (326)
Investment management and service fees 1,180 1,355
Other income 251 257
Total revenues 2,357 3,146
BENEFITS AND OTHER DEDUCTIONS    
Policyholders’ benefits 730 802
Remeasurement of liability for future policy benefits 4 22
Change in market risk benefits and purchased market risk benefits 20 (467)
Interest credited 463 313
Compensation and benefits 583 596
Commissions and distribution-related payments 380 422
Interest expense 61 47
Amortization of deferred policy acquisition costs 152 143
Other operating costs and expenses 423 534
Total benefits and other deductions 2,816 2,412
Income (loss) from continuing operations, before income taxes (459) 734
Income tax (expense) benefit 725 (137)
Net income (loss) 266 597
Less: Net income (loss) attributable to the noncontrolling interest 89 67
Net income (loss) attributable to Holdings 177 530
Less: Preferred stock dividends 14 14
Net income (loss) available to Holdings’ common shareholders 163 516
Net income (loss) available to Holdings’ common shareholders $ 163 $ 516
Net income (loss) applicable to Holdings’ common shareholders per common share:    
Basic (in dollars per share) $ 0.45 $ 1.33
Diluted (in dollars per share) $ 0.45 $ 1.32
Weighted average common shares outstanding (in millions):    
Basic (in shares) 361.9 388.6
Diluted (in shares) 364.1 391.7