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SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES
 12 Months Ended
Dec. 31, 2022
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]  
SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES
SCHEDULE I
SUMMARY OF INVESTMENTS — OTHER THAN INVESTMENTS IN RELATED PARTIES
AS OF DECEMBER 31, 2022
Cost (1)
Fair Value
Carrying
Value
 
(in millions)
Fixed maturities, AFS:
U.S. government, agencies and authorities$7,054 $5,837 $5,837 
State, municipalities and political subdivisions609 527 527 
Foreign governments985 836 836 
Public utilities6,829 5,778 5,778 
All other corporate bonds43,883 37,793 37,793 
Residential mortgage-backed908 822 822 
Asset-backed8,859 8,490 8,490 
Commercial mortgage-backed3,823 3,235 3,235 
Redeemable preferred stocks41 43 43 
Total fixed maturities, AFS72,991 63,361 63,361 
Fixed maturities, at fair value using the fair value option 1,599 1,508 1,508 
Mortgage loans on real estate (2)16,610 14,690 16,481 
Policy loans4,033 4,349 4,033 
Other equity investments2,938 3,152 3,152 
Trading securities639 677 677 
Other invested assets3,885 3,885 3,885 
Total Investments$102,695 $91,622 $93,097 
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(1)Cost for fixed maturities represents original cost, reduced by repayments and write-downs and adjusted for amortization of premiums or accretion of discount; cost for equity securities represents original cost reduced by write-downs; cost for other limited partnership interests represents original cost adjusted for equity in earnings and reduced by distributions.
(2)Carrying value for mortgage loans on real estate represents original cost adjusted for amortization of premiums or accretion of discount and reduced by credit loss allowance.