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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 9 Months Ended
Sep. 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:
September 30December 31
20252024
(in millions)
Retirement
GMxB Core
$1,592 $1,605 
EQUI-VEST Individual
153 154 
Investment Edge261 225 
SCS2,188 1,938 
EQUI-VEST Group
781 768 
Momentum79 83 
Corporate and Other
Term294 314 
Universal Life
169 170 
Variable Universal Life
1,128 1,083 
Indexed Universal Life
183 186 
GMxB Legacy
482 517 
Closed Block
100 107 
Other
20 20 
Total$7,430 $7,170 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Nine Months Ended September 30, 2025
Retirement
Corporate and OtherTotal
GMxB CoreEI IE SCSEG MomentumTermULVUL IUL GMxB LegacyCB (1)
(in millions)
Balance, beginning of period$1,605 $154 $225 $1,938 $768 $83 $314 $170 $1,083 $186 $517 $107 $7,150 
Capitalization 104 8 53 495 47 7 7 10 103 8 12 — 854 
Amortization (2)
(117)(9)(17)(245)(34)(11)(27)(9)(51)(9)(47)(7)(583)
Recovery of acquisition costs (3)
— — — — — — — (2)(7)(2)— — (11)
Balance, end of period$1,592 $153 $261 $2,188 $781 $79 $294 $169 $1,128 $183 $482 $100 $7,410 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $1 million related to Other not reflected in table above.
(3)Related to the RGA Reinsurance Transaction.

Nine Months Ended September 30, 2024
Retirement
Corporate and OtherTotal
GMxB CoreEI IE SCSEG MomentumTermULVUL IUL GMxB Legacy
CB (1)
(in millions)
Balance, beginning of period$1,602 $155 $172 $1,571 $742 $82 $337 $174 $987 $188 $555 $116 $6,681 
Capitalization104 9 51 473 49 8 10 6 114 8 19 — 851 
Amortization (2)
(112)(9)(12)(204)(33)(6)(27)(9)(46)(9)(47)(7)(521)
Balance, end of period$1,594 $155 $211 $1,840 $758 $84 $320 $171 $1,055 $187 $527 $109 $7,011 
______________
(1)“CB” defined as Closed Block.
(2)DAC amortization of $4 million related to Other not reflected in table above.
(3)Related to the RGA Reinsurance Transaction.
Changes in the Retirement and Corporate and Other sales inducement assets were as follows:
Nine Months Ended September 30,
20252024
Retirement
Corporate and OtherRetirementCorporate and Other
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$117 $160 $127 $179 
Capitalization2 — 2 — 
Amortization(9)(15)(9)(15)
Balance, end of period$110 $145 $120 $164 
Changes in the Corporate and Other unearned revenue liability were as follows:
Nine Months Ended September 30,
20252024
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$114 $840 $250 $107 $754 $210 
Capitalization10 111 34 12 99 42 
Amortization(6)(41)(12)(6)(36)(11)
Recovery of unearned revenue reserves (3)
(4)(47)(16)— — — 
Balance, end of period$114 $863 $256 $113 $817 $241