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INCOME TAXES (Tables) | 12 Months Ended
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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 | (593) |  |  | (310) |  |  | 749 |
Total | $ | (598) |  |  | $ | (439) |  |  | $ | 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 | $ | (630) |  |  | $ | (548) |  |  | $ | 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 | $ | (598) |  |  | $ | (439) |  |  | $ | 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 | 1,299 |  |  | — |  |  | 2,722 |  |  | — |
DAC | — |  |  | 1,029 |  |  | — |  |  | 1,005 |
Unrealized investment gains/losses | 2,012 |  |  | — |  |  | — |  |  | 965 |
Investments | — |  |  | 235 |  |  | — |  |  | 794 |
Other | 92 |  |  | — |  |  | — |  |  | 76 |
Valuation allowance | (1,570) |  |  | — |  |  | — |  |  | — |
Total | $ | 2,299 |  |  | $ | 1,264 |  |  | $ | 3,694 |  |  | $ | 2,840 |
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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