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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Pre-tax income for the years ended December 31, 2021, 2020 and 2019 consists of the following (dollars in millions):
|  | 2021 |  | 2020 |  | 2019
Pre-tax income – U.S. |  | $ | 327 |  |  | $ | 79 |  |  | $ | 871 |
Pre-tax income – foreign |  | 364 |  |  | 474 |  |  | 261 |
Total pre-tax income |  | $ | 691 |  |  | $ | 553 |  |  | $ | 1,132 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income tax expense for the years ended December 31, 2021, 2020 and 2019 consists of the following (dollars in millions):
|  | 2021 |  | 2020 |  | 2019
Current income tax expense (benefit): |  |  |  |  |  |
U.S. |  | $ | 91 |  |  | $ | 75 |  |  | $ | (9) |
Foreign |  | 72 |  |  | 79 |  |  | 60 |
Total current |  | 163 |  |  | 154 |  |  | 51 |
Deferred income tax expense (benefit): |  |  |  |  |  |
U.S. |  | (127) |  |  | (60) |  |  | 182 |
Foreign |  | 38 |  |  | 44 |  |  | 29 |
Total deferred |  | (89) |  |  | (16) |  |  | 211 |
Total provision for income taxes |  | $ | 74 |  |  | $ | 138 |  |  | $ | 262 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The Company’s effective tax rate differed from the U.S. federal income tax statutory rate of 21% as a result of the following for the years ended December 31, 2021, 2020 and 2019 (dollars in millions):
|  | 2021 |  | 2020 |  | 2019
Tax provision at U.S. statutory rate |  | $ | 145 |  |  | $ | 116 |  |  | $ | 238 |
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |
Tax rate differences on income in other jurisdictions |  | 51 |  |  | 21 |  |  | 2 |
Differences in tax basis in foreign jurisdictions |  | (4) |  |  | (32) |  |  | (23) |
Deferred tax valuation allowance |  | (18) |  |  | 10 |  |  | 56 |
Amounts related to uncertain tax positions |  | (119) |  |  | 10 |  |  | 8 |
Equity based compensation |  | (1) |  |  | (1) |  |  | (8) |
Corporate rate changes |  | 29 |  |  | 13 |  |  | (1) |
GILTI, net of credits |  | 11 |  |  | 13 |  |  | — |
Subpart F for non-full inclusion companies |  | 2 |  |  | — |  |  | 1 |
Foreign tax credits |  | (10) |  |  | (7) |  |  | (6) |
Return to provision adjustments |  | (17) |  |  | (4) |  |  | (6) |
Other, net |  | 5 |  |  | (1) |  |  | 1 |
Total provision for income taxes |  | $ | 74 |  |  | $ | 138 |  |  | $ | 262 |
Effective tax rate (1) |  | 10.6 | % |  | 24.9 | % |  | 23.1 | %
(1) The Company rounds amounts in the financial statements to millions and calculates the effective tax rate from the underlying whole-dollar amounts. Thus certain amounts may not recalculate based on the numbers due to rounding.
Schedule Of Income Tax Expense Benefit Intraperiod Tax Allocation [Table Text Block] | Total income taxes for the years ended December 31, 2021, 2020 and 2019 were as follows (dollars in millions):
|  | 2021 |  | 2020 |  | 2019
Provision for income taxes |  | $ | 74 |  |  | $ | 138 |  |  | $ | 262 |
Income tax from OCI and additional paid-in-capital: |  |  |  |  |  |
Net unrealized holding gain (loss) on debt and equity securities recognized for financial reporting purposes |  | (520) |  |  | 611 |  |  | 681 |
Foreign currency translation |  | 23 |  |  | (9) |  |  | 3 |
Unrealized pension and post retirement |  | 7 |  |  | (1) |  |  | (5) |
Total income taxes provided |  | $ | (416) |  |  | $ | 739 |  |  | $ | 941 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities at December 31, 2021 and 2020, are presented in the following tables (dollars in millions):
|  | 2021 |  | 2020
Deferred income tax assets: |  |  |  |
Nondeductible accruals |  | $ | 85 |  |  | $ | 92 |
Net operating loss carryforward |  | 251 |  |  | 254 |
Tax Credit Carryforward |  | 50 |  |  | — |
Other |  | 3 |  |  | — |
Subtotal |  | 389 |  |  | 346 |
Valuation allowance |  | (218) |  |  | (251) |
Total deferred income tax assets |  | 171 |  |  | 95 |
Deferred income tax liabilities: |  |  |  |
Deferred acquisition costs |  | 754 |  |  | 775 |
Policy reserves and other reinsurance liabilities |  | 1,085 |  |  | 1,105 |
Invested assets |  | 793 |  |  | 1,043 |
Outside basis difference foreign subsidiaries |  | 260 |  |  | 354 |
Foreign currency translation |  | 66 |  |  | 40 |
Anticipated future tax credit reduction |  | 58 |  |  | 20 |
Other |  | — |  |  | 2 |
Total deferred income tax liabilities |  | 3,016 |  |  | 3,339 |
Net deferred income tax liabilities |  | $ | 2,845 |  |  | $ | 3,244 |
Balance sheet presentation of net deferred income tax liabilities: |  |  |  |
Included in other assets |  | $ | 41 |  |  | $ | 19 |
Included in deferred income taxes |  | 2,886 |  |  | 3,263 |
Net deferred income tax liabilities |  | $ | 2,845 |  |  | $ | 3,244 |
Summary of Operating Loss Carryforwards [Table Text Block] | The following table presents consolidated net operating losses (“NOL”) as of December 31, 2021 (dollars in millions):
| 2021
NOL with no expiration and with no valuation allowance | $ | 100 |
NOL with a full valuation allowance | 187 |
NOL with no expiration and a partial valuation allowance | 631 |
NOL with expiration dates between 2025 and 2041 with no valuation allowance | 2 |
Total net operating loss carryforwards | $ | 920 |
Summary of Income Tax Contingencies [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2021, 2020 and 2019, is as follows (dollars in millions):
|  | Total Unrecognized Tax Benefits
|  | 2021 |  | 2020 |  | 2019
Beginning balance, January 1 |  | $ | 342 |  |  | $ | 333 |  |  | $ | 325 |
Additions for tax positions of prior years |  | 2 |  |  | 281 |  |  | 264 |
Reductions for tax positions of prior years |  | (312) |  |  | (278) |  |  | (262) |
Additions for tax positions of current year |  | 2 |  |  | 6 |  |  | 6 |
Ending balance, December 31 |  | $ | 34 |  |  | $ | 342 |  |  | $ | 333 |

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