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v3.22.1

Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2022 | Mar. 31, 2021
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | $ 926 | $ 3,706
Total realized/unrealized gains (losses) included in Net income | 23 | 126
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (21) | (45)
Purchases and issuances | 105 | 351
Sales and settlements | (27) | (247)
Transfer into Level 3 | 37 | 51
Transfer out of Level 3 | (45) | (293)
Financial assets, Ending Balance | 998 | 3,649
Fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 600 | 538
Total realized/unrealized gains (losses) included in Net income | 2 | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (21) | (2)
Purchases and issuances | 75 | 142
Sales and settlements | (24) | (42)
Transfer into Level 3 | 34 | 19
Transfer out of Level 3 | (41) | (52)
Financial assets, Ending Balance | 625 | 602
U.S. government agency |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 0
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 0 | 0
State and municipal |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 41 | 39
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (2) | 0
Purchases and issuances | 0 | 0
Sales and settlements | (1) | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | (5) | 0
Financial assets, Ending Balance | 33 | 39
Residential MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 14 | 38
Total realized/unrealized gains (losses) included in Net income | 0 | (3)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 6
Sales and settlements | (1) | 0
Transfer into Level 3 | 0 | 3
Transfer out of Level 3 | (2) | (17)
Financial assets, Ending Balance | 11 | 27
Commercial MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 2
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | (2)
Financial assets, Ending Balance | 0 | 0
Collateralized loan obligations |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 16
Total realized/unrealized gains (losses) included in Net income | 0 | 1
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | (1)
Purchases and issuances | 0 | 0
Sales and settlements | 0 | (1)
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | (9)
Financial assets, Ending Balance | 0 | 6
Other asset-backed securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 278 | 305
Total realized/unrealized gains (losses) included in Net income | 2 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (9) | 0
Purchases and issuances | 47 | 52
Sales and settlements | (15) | (23)
Transfer into Level 3 | 34 | 14
Transfer out of Level 3 | 0 | (22)
Financial assets, Ending Balance | 337 | 326
Corporate and other |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 267 | 138
Total realized/unrealized gains (losses) included in Net income | 0 | 1
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (10) | (1)
Purchases and issuances | 28 | 84
Sales and settlements | (7) | (18)
Transfer into Level 3 | 0 | 2
Transfer out of Level 3 | (34) | (2)
Financial assets, Ending Balance | 244 | 204
Equity securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 313 | 176
Total realized/unrealized gains (losses) included in Net income | 22 | 53
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 30 | 12
Sales and settlements | (3) | (14)
Transfer into Level 3 | 3 | 0
Transfer out of Level 3 | (4) | 0
Financial assets, Ending Balance | 361 | 227
Assets of MIE |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 13 | 21
Total realized/unrealized gains (losses) included in Net income | (1) | 4
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 1
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | (12)
Financial assets, Ending Balance | $ 12 | 14
Assets of discontinued annuity operations | Annuity subsidiaries |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance |  | 2,971
Total realized/unrealized gains (losses) included in Net income |  | 70
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | (43)
Purchases and issuances |  | 196
Sales and settlements |  | (191)
Transfer into Level 3 |  | 32
Transfer out of Level 3 |  | (229)
Financial assets, Ending Balance |  | $ 2,806

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