XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Goodwill | 9 Months Ended
--- | ---
Sep. 30, 2022
Goodwill and Specifically Identifiable Intangible Assets [Abstract] |
Goodwill and Specifically Identifiable Intangible Assets | 7. Goodwill The changes in the carrying amount of goodwill (in millions) by reportable segment were as follows:
|  |  |  |  |  |  |  |  |  | For the Nine Months Ended |  |
|  |  |  |  |  |  |  |  |  | September 30, 2022 |  |
| Gross | Accumulated |  | Net |  |  |  |  |  | Net |  |
| Goodwill | Impairment |  | Goodwill |  |  |  |  |  | Goodwill |  |
| as of | as of |  | as of |  |  |  |  |  | as of |  |
| Beginning- | Beginning- |  | Beginning- |  |  |  |  |  | End- |  |
|  | of-Year |  |  | of-Year |  |  | of-Year |  |  | Impairment |  |  | of-Period |  |
Annuities |  | $ | 1,040 |  |  | $ | (600 | ) |  | $ | 440 |  |  | $ | - |  |  | $ | 440 |  |
Retirement Plan Services |  |  | 20 |  |  |  | - |  |  |  | 20 |  |  |  | - |  |  |  | 20 |  |
Life Insurance |  |  | 2,188 |  |  |  | (1,554 | ) |  |  | 634 |  |  |  | (634 | ) |  |  | - |  |
Group Protection |  |  | 684 |  |  |  | - |  |  |  | 684 |  |  |  | - |  |  |  | 684 |  |
Total goodwill |  | $ | 3,932 |  |  | $ | (2,154 | ) |  | $ | 1,778 |  |  | $ | (634 | ) |  | $ | 1,144 |  |
The fair values of our reporting units (Level 3 fair value estimates) are comprised of the value of in-force (i.e., existing) business and the value of new business. Specifically, new business is representative of cash flows and profitability associated with policies or contracts we expect to issue in the future, reflecting our forecasts of future sales volume and product mix over a 10-year period. To determine the values of in-force and new business, we use a discounted cash flows technique that applies a discount rate reflecting the market expected, weighted-average rate of return adjusted for the risk factors associated with operations to the projected future cash flows for each reporting unit. As a result of the current capital market environment, including (i) declining equity markets and (ii) the impact of rising interest rates on our discount rate assumption, we accelerated our quantitative goodwill impairment test for our Life Insurance reporting unit as we concluded that there were indicators of impairment. Based on this quantitative test, which includes updating our best estimate assumptions therein, we incurred an impairment during the third quarter of 2022 of the Life Insurance reporting unit goodwill of $634 million, which represents a write-off of the entire balance of goodwill for the reporting unit. We concluded that, for the third quarter, there were not indicators of impairment for our remaining reporting units (Annuities, Retirement Plan Services and Group Protection). During the fourth quarter, we will perform our annual quantitative goodwill impairment test as of October 1, 2022, on these other reporting units.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration