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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2025
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:
March 31December 31
20252024
(in millions)
Protection Solutions
Term$307 $314 
Universal Life
172 170 
Variable Universal Life
1,102 1,083 
Indexed Universal Life
186 186 
Individual Retirement
GMxB Core
1,604 1,605 
EQUI-VEST Individual
154 154 
Investment Edge236 225 
SCS2,018 1,938 
Legacy Segment
GMxB Legacy504 517 
Group Retirement
EQUI-VEST Group
771 768 
Momentum82 83 
Corporate and Other
105 107 
Other
21 20 
Total$7,262 $7,170 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Three Months Ended March 31, 2025
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG MomentumCB (1)
(in millions)
Balance, beginning of period$314 $170 $1,083 $186 $1,605 $154 $225 $1,938 $517 $768 $83 $107 $7,150 
Capitalization 2 5 35 3 37 3 16 157 5 15 3 — 281 
Amortization (2)
(9)(3)(16)(3)(38)(3)(5)(77)(18)(12)(4)(2)(190)
Balance, end of period$307 $172 $1,102 $186 $1,604 $154 $236 $2,018 $504 $771 $82 $105 $7,241 
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(1)“CB” defined as Closed Block.
(2)Includes an immaterial impact from Novation. See Note 1 for additional details.

Three Months Ended March 31, 2024
Protection SolutionsIndividual RetirementLegacyGroup RetirementCorporate and OtherTotal
TermULVUL IUL GMxB CoreEI IE SCSGMxB LegacyEG Momentum
CB
(in millions)
Balance, beginning of period$337 $174 $987 $188 $1,602 $155 $172 $1,571 $555 $742 $82 $116 $6,681 
Capitalization4 3 37 2 39 2 12 148 7 15 2 — 271 
Amortization (1)(10)(3)(15)(3)(37)(3)(4)(64)(16)(10)(4)(2)(171)
Balance, end of period$331 $174 $1,009 $187 $1,604 $154 $180 $1,655 $546 $747 $80 $114 $6,781 
______________
(1)    DAC amortization of $1 million related to Other not reflected in table above.
Changes in the Individual Retirement sales inducement assets were as follows:
Three Months Ended March 31,
20252024
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$117 $160 $127 $179 
Capitalization— — 1 — 
Amortization(3)(5)(3)(5)
Balance, end of period$114 $155 $125 $174 
Changes in the Protection Solutions unearned revenue liability were as follows:
Three Months Ended March 31,
20252024
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$114 $840 $250 $107 $754 $210 
Capitalization3 37 12 4 32 14 
Amortization(2)(13)(4)(2)(12)(3)
Balance, end of period$115 $864 $258 $109 $774 $221