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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 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:
June 30December 31
20252024
(in millions)
Protection Solutions
Term$301 $314 
Universal Life
171 170 
Variable Universal Life
1,122 1,083 
Indexed Universal Life
186 186 
Individual Retirement
GMxB Core
1,599 1,605 
EQUI-VEST Individual
154 154 
Investment Edge250 225 
SCS2,107 1,938 
Legacy Segment
GMxB Legacy494 517 
Group Retirement
EQUI-VEST Group
776 768 
Momentum80 83 
Corporate and Other
103 107 
Other
18 20 
Total$7,361 $7,170 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Six Months Ended June 30, 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 5 7 72 6 70 5 36 326 9 31 5 — 572 
Amortization (2)
(18)(6)(33)(6)(76)(5)(11)(157)(32)(23)(8)(4)(379)
Balance, end of period$301 $171 $1,122 $186 $1,599 $154 $250 $2,107 $494 $776 $80 $103 $7,343 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $2 million related to Other not reflected in table above.

Six Months Ended June 30, 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 
Capitalization8 4 77 5 74 6 29 306 14 32 5 — 560 
Amortization (1)(19)(6)(30)(6)(74)(6)(8)(131)(31)(21)(2)(5)(339)
Balance, end of period$326 $172 $1,034 $187 $1,602 $155 $193 $1,746 $538 $753 $85 $111 $6,902 
______________
(1)    DAC amortization of $2 million related to Other not reflected in table above.
Changes in the Individual Retirement sales inducement assets were as follows:
Six Months Ended June 30,
20252024
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$117 $160 $127 $179 
Capitalization1 — 1 — 
Amortization(6)(9)(6)(10)
Balance, end of period$112 $151 $122 $169 
Changes in the Protection Solutions unearned revenue liability were as follows:
Six Months Ended June 30,
20252024
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$114 $840 $250 $107 $754 $210 
Capitalization7 74 23 8 65 28 
Amortization(4)(27)(8)(4)(24)(7)
Balance, end of period$117 $887 $265 $111 $795 $231