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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
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
20242023
(in millions)
Protection Solutions
Term$314 $337 
Universal Life
170 174 
Variable Universal Life
1,083 987 
Indexed Universal Life
186 188 
Individual Retirement
GMxB Core
1,605 1,602 
EQUI-VEST Individual
154 155 
Investment Edge225 172 
SCS1,938 1,571 
Legacy Segment
GMxB Legacy517 555 
December 31
20242023
(in millions)
Group Retirement
EQUI-VEST Group
768 742 
Momentum83 82 
Corporate and Other
107 116 
Other
20 24 
Total$7,170 $6,705 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Year Ended December 31, 2024
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG MomentumCB (1)
(in millions)
Balance, beginning of period$337 $174 $987 $188 $1,602 $155 $172 $1,571 $555 $742 $82 $116 $6,681 
Capitalization 14 8 159 10 153 11 70 645 24 70 11 — 1,175 
Amortization (2)(37)(12)(63)(12)(150)(12)(17)(278)(62)(44)(10)(9)(706)
Balance, end of period$314 $170 $1,083 $186 $1,605 $154 $225 $1,938 $517 $768 $83 $107 $7,150 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $5 million related to Other not reflected in table above.

Year Ended December 31, 2023
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG Momentum
CB
(in millions)
Balance, beginning of period$362 $179 $889 $185 $1,625 $156 $148 $1,279 $593 $710 $89 $127 $6,342 
Capitalization14 7 155 14 121 11 38 507 26 73 10 — 976 
Amortization (1)(39)(12)(57)(11)(144)(12)(14)(215)(64)(41)(17)(11)(637)
Balance, end of period$337 $174 $987 $188 $1,602 $155 $172 $1,571 $555 $742 $82 $116 $6,681 
______________
(1)    DAC amortization of $4 million related to Other not reflected in table above.
Year Ended December 31, 2022
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVULIULGMxB CoreEI IE SCSGMxB LegacyEGMomentum
CB
(in millions)
Balance, beginning of period$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 (2)(41)(12)(52)(11)(137)(12)(13)(169)(65)(41)(19)(11)(583)
Balance, end of period$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.
Changes in the Individual Retirement sales inducement assets were as follows:
Year Ended December 31,
202420232022
GMxB CoreGMxB LegacyGMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$127 $179 $137 $200 $147 $222 
Capitalization2 — 2 — 2 — 
Amortization(12)(19)(12)(21)(12)(22)
Balance, end of period$117 $160 $127 $179 $137 $200 
Changes in the Protection Solutions unearned revenue liability were as follows:
Year Ended December 31,
202420232022
ULVULIULULVULIULULVULIUL
(in millions)
Balance, beginning of period$107 $754 $210 $95 $684 $157 $80 $619 $94 
Capitalization15 135 55 19 115 64 21 105 71 
Amortization(8)(49)(15)(7)(45)(11)(6)(40)(8)
Balance, end of period$114 $840 $250 $107 $754 $210 $95 $684 $157