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Accumulated Other Comprehensive Income (Loss) by Component (Tables) | 6 Months Ended
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Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive Income (Loss) by Component | The tables below display the changes in Accumulated other comprehensive income (loss) by component.
(In millions) | Net unrealized gains (losses) on investments with an allowance for credit losses |  | Net unrealized gains (losses) on other investments(1) |  | Pension and postretirement benefits |  | Cumulative impact of changes in discount rates used to measure long duration contracts (1) |  | Cumulative foreign currency translation adjustment |  | Total
Balance as of April 1, 2023 | $ | (15) |  |  | $ | (2,068) |  |  | $ | (584) |  |  | $ | (437) |  |  | $ | (204) |  |  | $ | (3,308) |
Other comprehensive income (loss) before reclassifications | (8) |  |  | (427) |  |  | — |  |  | 256 |  |  | 34 |  |  | (145) |
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $4, $2, $—, $— and $8 | (7) |  |  | (14) |  |  | (7) |  |  | — |  |  | — |  |  | (28) |
Other comprehensive income (loss) net of tax (expense) benefit of $—, $112, $(2), $(68), $— and $42 | (1) |  |  | (413) |  |  | 7 |  |  | 256 |  |  | 34 |  |  | (117) |
Balance as of June 30, 2023 | $ | (16) |  |  | $ | (2,481) |  |  | $ | (577) |  |  | $ | (181) |  |  | $ | (170) |  |  | $ | (3,425) |
(In millions) | Net unrealized gains (losses) on investments with an allowance for credit losses |  | Net unrealized gains (losses) on other investments(1) |  | Pension and postretirement benefits |  | Cumulative impact of changes in discount rates used to measure long duration contracts(1) |  | Cumulative foreign currency translation adjustment |  | Total
Balance as of April 1, 2022, as previously reported | $ | (6) |  |  | $ | (572) |  |  | $ | (598) |  |  | $ | — |  |  | $ | (127) |  |  | $ | (1,303) |
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $270, $—, $(497), $— and $(227) | — |  |  | 1,288 |  |  | — |  |  | (2,365) |  |  | — |  |  | (1,077) |
Balance as of April 1, 2022 | (6) |  |  | 716 |  |  | (598) |  |  | (2,365) |  |  | (127) |  |  | (2,380) |
Other comprehensive income (loss) before reclassifications | (1) |  |  | (2,240) |  |  | — |  |  | 1,507 |  |  | (68) |  |  | (802) |
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $3, $1, $—, $— and $3 | 1 |  |  | (14) |  |  | (6) |  |  | — |  |  | — |  |  | (19) |
Other comprehensive income (loss) net of tax (expense) benefit of $—, $590,$(1), $(400), $— and $189 | (2) |  |  | (2,226) |  |  | 6 |  |  | 1,507 |  |  | (68) |  |  | (783) |
Balance as of June 30, 2022 | $ | (8) |  |  | $ | (1,510) |  |  | $ | (592) |  |  | $ | (858) |  |  | $ | (195) |  |  | $ | (3,163) |
(In millions) | Net unrealized gains (losses) on investments with an allowance for credit losses |  | Net unrealized gains (losses) on other investments(1) |  | Pension and postretirement benefits |  | Cumulative impact of changes in discount rates used to measure long duration contracts(1) |  | Cumulative foreign currency translation adjustment |  | Total
Balance as of January 1, 2023, as previously reported | $ | (7) |  |  | $ | (2,738) |  |  | $ | (591) |  |  | $ | — |  |  | $ | (221) |  |  | $ | (3,557) |
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $—, $—, $11, $— and $11 | — |  |  | — |  |  | — |  |  | (41) |  |  | — |  |  | (41) |
Balance as of January 1, 2023, as adjusted | (7) |  |  | (2,738) |  |  | (591) |  |  | (41) |  |  | (221) |  |  | (3,598) |
Other comprehensive income (loss) before reclassifications | (16) |  |  | 225 |  |  | — |  |  | (140) |  |  | 51 |  |  | 120 |
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $8, $4, $—, $— and $14 | (7) |  |  | (32) |  |  | (14) |  |  | — |  |  | — |  |  | (53) |
Other comprehensive income (loss) net of tax (expense) benefit of $2, $(68), $(4), $37, $— and $(33) | (9) |  |  | 257 |  |  | 14 |  |  | (140) |  |  | 51 |  |  | 173 |
Balance as of June 30, 2023 | $ | (16) |  |  | $ | (2,481) |  |  | $ | (577) |  |  | $ | (181) |  |  | $ | (170) |  |  | $ | (3,425) |
(In millions) | Net unrealized gains (losses) on investments with an allowance for credit losses |  | Net unrealized gains (losses) on other investments(1) |  | Pension and postretirement benefits |  | Cumulative impact of changes in discount rates used to measure long duration contracts(1) |  | Cumulative foreign currency translation adjustment |  | Total
Balance as of January 1, 2022, as previously reported | $ | (2) |  |  | $ | 1,039 |  |  | $ | (604) |  |  | $ | — |  |  | $ | (113) |  |  | $ | 320 |
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $617, $—, $(1,063), $— and $(446) | — |  |  | 2,320 |  |  | — |  |  | (4,000) |  |  | — |  |  | (1,680) |
Balance as of January 1, 2022, as adjusted | (2) |  |  | 3,359 |  |  | (604) |  |  | (4,000) |  |  | (113) |  |  | (1,360) |
Other comprehensive income (loss) before reclassifications | (5) |  |  | (4,884) |  |  | — |  |  | 3,142 |  |  | (82) |  |  | (1,829) |
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $4, $3, $—, $— and $6 | 1 |  |  | (15) |  |  | (12) |  |  | — |  |  | — |  |  | (26) |
Other comprehensive income (loss) net of tax (expense) benefit of $1, $1,288, $(3), $(835), $— and $451 | (6) |  |  | (4,869) |  |  | 12 |  |  | 3,142 |  |  | (82) |  |  | (1,803) |
Balance as of June 30, 2022 | $ | (8) |  |  | $ | (1,510) |  |  | $ | (592) |  |  | $ | (858) |  |  | $ | (195) |  |  | $ | (3,163) |
(1) See Note A to the Condensed Consolidated Financial Statements for additional information.
Reclassification out of Accumulated Other Comprehensive Income | Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows:
Component of AOCI |  | Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications
Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments |  | Net investment gains (losses)
Pension and postretirement benefits |  | Other operating expenses and Insurance claims and policyholders' benefits

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