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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2023
Contract holder Bonus Interest Credits [Abstract]  
Schedule of Deferred Policy Acquisition Costs
The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12:
 Protection SolutionsLegacyIndividual RetirementGroup RetirementTotal
TermUL (1)VUL (2)IUL (3)GMxB LegacyGMxB CoreEI (4)IE (5)SCSEG (6)Momentum
(in millions)
Balance, December 31, 2020$403 $— $— $— $654 $1,635 $134 $95 $645 $553 $79 $4,198 
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income— 177 714 162 13 11 20 (1)210 81 22 1,409 
Balance, January 1, 2021 (7)$403 $177 $714 $162 $667 $1,646 $154 $94 $855 $634 $101 $5,607 
______________
(1)    “UL” defined as Universal Life
(2)    “VUL” defined as Variable Universal Life
(3)    “IUL” defined as Indexed Universal Life
(4)    “EI” defined as EQUI-VEST Individual
(5)    “IE” defined as Investment Edge
(6)    “EG” defined as EQUI-VEST Group
(7)     DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment.
Changes in the DAC asset for the six months ended June 30, 2023 and 2022 were as follows:
Six Months Ended June 30, 2023
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG MomentumCB (1)
(in millions)
Balance, beginning of period$362 $179 $889 $185 $1,625 $156 $148 $1,279 $593 $710 $89 $127 $6,342 
Capitalization 8 3 73 6 54 6 21 228 14 33 5 — 451 
Amortization (2)(20)(6)(28)(5)(70)(6)(7)(96)(32)(20)(9)(5)(304)
Balance, end of period$350 $176 $934 $186 $1,609 $156 $162 $1,411 $575 $723 $85 $122 $6,489 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $2 million related to Other not reflected in table above.
Six Months Ended June 30, 2022
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG MomentumCB (1)
(in millions)
Balance, beginning of period$385 $180 $799 $180 $1,653 $156 $121 $1,070 $631 $677 $94 $138 $6,084 
Capitalization9 6 72 8 60 6 21 189 16 36 7 — 430 
Amortization (2)(21)(6)(25)(5)(67)(6)(7)(81)(33)(20)(10)(6)(287)
Balance, end of period$373 $180 $846 $183 $1,646 $156 $135 $1,178 $614 $693 $91 $132 $6,227 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $2 million related to Other not reflected in table above.

Changes in the Individual Retirement sales inducement assets for the six months ended June 30, 2023 and 2022 were as follows:
Six Months Ended June 30,
20232022
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$137 $200 $147 $222 
Capitalization1 — 1 — 
Amortization(6)(11)(6)(11)
Balance, end of period$132 $189 $142 $211 

Changes in the Protection Solutions unearned revenue liability for the six months ended June 30, 2023 and 2022 were as follows:
Six Months Ended June 30,
20232022
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$95 $684 $157 $80 $619 $94 
Capitalization9 56 33 11 50 36 
Amortization(3)(22)(5)(3)(20)(3)
Balance, end of period$101 $718 $185 $88 $649 $127 
Schedule of Reconciliation of Deferred Acquisition Cost
The following table presents a reconciliation of DAC to the consolidated balance sheet as of June 30, 2023 and December 31, 2022.
June 30, 2023December 31, 2022
(in millions)
Protection Solutions
Term$350 $362 
Universal Life
176 179 
Variable Universal Life
934 889 
Indexed Universal Life
186 185 
Individual Retirement
GMxB Core
1,609 1,625 
EQUI-VEST Individual
156 156 
Investment Edge162 148 
SCS1,411 1,279 
Legacy Segment
GMxB Legacy575 593 
Group Retirement
EQUI-VEST Group
723 710 
Momentum85 89 
Corporate and Other
122 127 
Other
23 27 
Total$6,512 $6,369