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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Contract Holder Bonus Interest Credits [Abstract]  
Schedule of Reconciliation of Deferred Acquisition Cost
The following table presents a reconciliation of DAC to the consolidated balance sheets:
December 31,
20232022
(in millions)
Protection Solutions
Term$337 $362 
Universal Life
174 179 
Variable Universal Life
987 889 
Indexed Universal Life
188 185 
Individual Retirement
GMxB Core
1,602 1,625 
EQUI-VEST Individual
155 156 
Investment Edge172 148 
SCS1,571 1,279 
Legacy Segment
GMxB Legacy555 593 
Group Retirement
EQUI-VEST Group
742 710 
Momentum82 89 
Corporate and Other
116 127 
Other
24 27 
Total$6,705 $6,369 
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 were as follows:
Year Ended December 31, 2023
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG MomentumCB (1)
(in millions)
Balance, beginning of year$362 $179 $889 $185 $1,625 $156 $148 $1,279 $593 $710 $89 $127 $6,342 
Capitalization 14 7 155 14 121 11 38 507 26 73 10 — 976 
Amortization (2)(39)(12)(57)(11)(144)(12)(14)(215)(64)(41)(17)(11)(637)
Balance, end of year$337 $174 $987 $188 $1,602 $155 $172 $1,571 $555 $742 $82 $116 $6,681 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $4 million related to Other not reflected in table above.
Year Ended December 31, 2022
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG Momentum
CB
(in millions)
Balance, beginning of year$385 $180 $799 $180 $1,653 $156 $121 $1,070 $631 $677 $94 $138 $6,084 
Capitalization18 11 142 16 109 12 40 378 27 74 14 — 841 
Amortization (1)
(41)(12)(52)(11)(137)(12)(13)(169)(65)(41)(19)(11)(583)
Balance, end of year$362 $179 $889 $185 $1,625 $156 $148 $1,279 $593 $710 $89 $127 $6,342 
______________
(1)DAC amortization of $3 million related to Other not reflected in table above.

Year Ended December 31, 2021
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVULIULGMxB CoreEI IE SCSGMxB LegacyEGMomentum
CB
(in millions)
Balance beginning of the year$403 $177 $714 $162 $1,646 $154 $94 $855 $667 $634 $101 $150 $5,757 
Capitalization26 15 133 28 141 15 38 350 30 84 16 — 876 
Amortization (2)(44)(12)(48)(10)(134)(13)(11)(135)(66)(41)(23)(12)(549)
Balance, December 31, 2021$385 $180 $799 $180 $1,653 $156 $121 $1,070 $631 $677 $94 $138 $6,084 
______________
(1)    DAC amortization of $3 million related to Other not reflected in table above.
Changes in the Individual Retirement sales inducement assets were as follows:
Year Ended December 31,
20232022
2021
GMxB CoreGMxB LegacyGMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of year$137 $200 $147 $222 $158 $246 
Capitalization2 — 2 — 1 — 
Amortization(12)(21)(12)(22)(12)(24)
Balance, end of year$127 $179 $137 $200 $147 $222 
Changes in the Protection Solutions unearned revenue liability were as follows:
Year Ended December 31,
20232022
2021
ULVULIULULVULIULULVULIUL
(in millions)
Balance, beginning of year$95 $684 $157 $80 $619 $94 $60 $566 $24 
Capitalization19 115 64 21 105 71 25 92 74 
Amortization(7)(45)(11)(6)(40)(8)(5)(39)(4)
Balance, end of year$107 $754 $210 $95 $684 $157 $80 $619 $94