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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost of $72,991 and $73,429) (allowance for credit losses of $24 and $22) $ 63,361 $ 78,216
Fixed maturities, at fair value using the fair value option [1] 1,508 1,641
Mortgage loans on real estate (net of allowance for credit losses of $53 and $62) [1] 16,481 14,033
Policy loans 4,033 4,024
Other equity investments [1] 3,152 2,975
Trading securities, at fair value 677 631
Other invested assets [1] 3,885 3,592
Total investments 93,097 105,112
Cash and cash equivalents [1] 4,281 5,188
Cash and securities segregated, at fair value 1,522 1,504
Broker-dealer related receivables 2,338 2,599
Deferred policy acquisition costs 6,369 6,113
Goodwill and other intangible assets, net 5,482 4,728
Amounts due from reinsurers (allowance for credit losses of $6 and $5) (includes amounts accounted for at fair value of $4,681 and $5,813) [2] 8,471 4,632
Current and deferred income taxes 781 505
Purchased market risk benefits 10,423 14,074
Other assets [1] 4,033 3,609
Assets held-for-sale 562 0
Assets for market risk benefits 490 318
Separate Accounts assets 114,853 147,306
Total Assets 252,702 295,688
LIABILITIES    
Policyholders’ account balances 83,866 79,361
Liability for market risk benefits 15,766 21,688
Future policy benefits and other policyholders' liabilities 16,603 18,178
Broker-dealer related payables 715 1,283
Customer related payables 3,323 3,600
Amounts due to reinsurers 1,533 1,381
Short-term debt 759 92
Long-term debt 3,322 3,839
Notes issued by consolidated variable interest entities, at fair value using the fair value option [1] 1,150 1,191
Other liabilities [1] 7,108 5,374
Liabilities held-for-sale 108 0
Separate Accounts liabilities 114,853 147,306
Total Liabilities 249,106 283,293
Redeemable noncontrolling interest [1],[3] 455 468
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; 508,418,442 and 520,918,331 shares issued, respectively; 365,081,940 and 391,290,224 shares outstanding, respectively 4 4
Additional paid-in capital 2,299 1,919
Treasury stock, at cost, 143,336,502 and 129,628,107 shares, respectively (3,297) (2,850)
Retained earnings 9,825 8,413
Accumulated other comprehensive income (loss) (8,992) 1,303
Total equity attributable to Holdings 1,401 10,351
Noncontrolling interest 1,740 1,576
Total Equity 3,141 11,927
Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 252,702 $ 295,688
[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 these Consolidated Financial Statements for details of the Venerable Transaction and Note 8 of the Notes to these Consolidated Financial Statements.
[3] See Note 24 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 these Consolidated Financial Statements for details of the Venerable Transaction and Note 8 of the Notes to these Consolidated Financial Statements.
[4] See Note 19 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.