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DAC, VOBA, DSI and DFEL | 12 Months Ended
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Dec. 31, 2022
DAC, VOBA, DSI and DFEL [Abstract] |
DAC, VOBA, DSI and DFEL | 7. DAC, VO BA, DSI and DFEL The following table reconciles DAC, VOBA and DSI (in millions) to the Consolidated Balance Sheets:
| As of December 31, |  |
| 2022 |  |  | 2021 |  |
DAC, VOBA and DSI |  |  |  |  |  |  |  |
Traditional Life | $ | 1,383 |  |  | $ | 1,254 |  |
UL and Other |  | 6,100 |  |  |  | 5,902 |  |
Variable Annuities |  | 3,879 |  |  |  | 3,856 |  |
Fixed Annuities |  | 479 |  |  |  | 495 |  |
Group Protection |  | 141 |  |  |  | 140 |  |
Retirement Plan Services |  | 253 |  |  |  | 249 |  |
Total DAC, VOBA and DSI | $ | 12,235 |  |  | $ | 11,896 |  |
The following table reconciles DFEL (in millions) to the Consolidated Balance Sheets:
| As of December 31, |  |
| 2022 |  |  | 2021 |  |
DFEL |  |  |  |  |  |  |  |
UL and Other | $ | 4,766 |  |  | $ | 3,934 |  |
Variable Annuities |  | 286 |  |  |  | 291 |  |
Total DFEL | $ | 5,052 |  |  | $ | 4,225 |  |
The following tables summarize the changes in DAC (in millions):
| For the Year Ended December 31, 2022 |
|  |  |  |  |  |  |  |  |  |  |  | Retirement |
| Traditional |  | UL and |  | Variable |  | Fixed |  | Group |  | Plan |
| Life |  | Other |  | Annuities |  | Annuities |  | Protection |  | Services |
Balance as of beginning-of-year | $ | 1,195 |  | $ | 5,360 |  | $ | 3,717 |  | $ | 448 |  | $ | 140 |  | $ | 235 |
Deferrals |  | 266 |  |  | 539 |  |  | 391 |  |  | 60 |  |  | 98 |  |  | 20 |
Amortization |  | (128 | ) |  | (294 | ) |  | (357 | ) |  | (69 | ) |  | (97 | ) |  | (19 | )
Balance as of end-of-year | $ | 1,333 |  | $ | 5,605 |  | $ | 3,751 |  | $ | 439 |  | $ | 141 |  | $ | 236 |
| For the Year Ended December 31, 2021 |
|  |  |  |  |  |  |  |  |  |  |  | Retirement |
| Traditional |  | UL and |  | Variable |  | Fixed |  | Group |  | Plan |
| Life |  | Other |  | Annuities |  | Annuities |  | Protection |  | Services |
Balance as of beginning-of-year | $ | 1,082 |  | $ | 5,425 |  | $ | 3,570 |  | $ | 479 |  | $ | 187 |  | $ | 232 |
Business acquired (sold) through |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
reinsurance |  | - |  |  | (294 | ) |  | - |  |  | - |  |  | - |  |  | - |
Deferrals |  | 220 |  |  | 523 |  |  | 487 |  |  | 29 |  |  | 91 |  |  | 22 |
Amortization |  | (107 | ) |  | (294 | ) |  | (340 | ) |  | (60 | ) |  | (138 | ) |  | (19 | )
Balance as of end-of-year | $ | 1,195 |  | $ | 5,360 |  | $ | 3,717 |  | $ | 448 |  | $ | 140 |  | $ | 235 |
DAC amortization expense of $964 million, $958 million and $1.1 billion was recorded in commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021 and 2020, respectively. The following tables summarize the changes in VOBA (in millions):
| For the Year Ended December 31, 2022 |  |
| Traditional |  | UL and |  | Fixed |  |
| Life |  | Other |  | Annuities |  |
Balance as of beginning-of-year | $ | 59 |  | $ | 511 |  | $ | 20 |  |
Deferrals |  | - |  |  | 2 |  |  | - |  |
Amortization |  | (9 | ) |  | (48 | ) |  | (3 | ) |
Balance as of end-of-year | $ | 50 |  | $ | 465 |  | $ | 17 |  |
| For the Year Ended December 31, 2021 |  |
| Traditional |  | UL and |  | Fixed |  |
| Life |  | Other |  | Annuities |  |
Balance as of beginning-of-year | $ | 67 |  | $ | 810 |  | $ | 23 |  |
Business acquired (sold) through |  |  |  |  |  |  |  |  |  |
reinsurance |  | - |  |  | (234 | ) |  | - |  |
Deferrals |  | 1 |  |  | - |  |  | - |  |
Amortization |  | (9 | ) |  | (65 | ) |  | (3 | ) |
Balance as of end-of-year | $ | 59 |  | $ | 511 |  | $ | 20 |  |
VOBA amortization expense of $60 million, $77 million and $266 million was recorded in commissions and other expenses on the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021 and 2020, respectively. No additions or write-offs were recorded for each respective year. Estimated future amortization of VOBA (in millions), as of December 31, 2022, was as follows:
2023 | $ | 45 |
2024 |  | 41 |
2025 |  | 38 |
2026 |  | 35 |
2027 |  | 30 |
The following tables summarize the changes in DSI (in millions):
| For the Year Ended December 31, 2022 |
|  |  |  |  |  |  | Retirement |
| UL and |  | Variable |  | Fixed |  | Plan |
| Other |  | Annuities |  | Annuities |  | Services |
Balance as of beginning-of-year | $ | 31 |  | $ | 139 |  | $ | 27 |  | $ | 14 |
Deferrals |  | 1 |  |  | 1 |  |  | - |  |  | 4 |
Amortization |  | (2 | ) |  | (12 | ) |  | (4 | ) |  | (1 | )
Balance as of end-of-year | $ | 30 |  | $ | 128 |  | $ | 23 |  | $ | 17 |
| For the Year Ended December 31, 2021 |
|  |  |  |  |  |  | Retirement |
| UL and |  | Variable |  | Fixed |  | Plan |
| Other |  | Annuities |  | Annuities |  | Services |
Balance as of beginning-of-year | $ | 35 |  | $ | 150 |  | $ | 30 |  | $ | 14 |
Deferrals |  | 1 |  |  | 3 |  |  | - |  |  | 1 |
Amortization |  | (5 | ) |  | (14 | ) |  | (3 | ) |  | (1 | )
Balance as of end-of-year | $ | 31 |  | $ | 139 |  | $ | 27 |  | $ | 14 |
DSI amortization expense of $19 million, $23 million and $21 million was recorded in interest credited on the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021 and 2020, respectively. The following tables summarize the changes in DFEL (in millions):
| For the Year Ended |  | For the Year Ended |
| December 31, 2022 |  | December 31, 2021 |
| UL and |  |  | Variable |  | UL and |  |  | Variable |
| Other |  |  | Annuities |  | Other |  |  | Annuities |
Balance as of beginning-of-year | $ | 3,934 |  |  | $ | 291 |  | $ | 3,298 |  |  | $ | 293 |
Business acquired (sold) through |  |  |  |  |  |  |  |  |  |  |  |  |  |
reinsurance |  | - |  |  |  | - |  |  | (161 | ) |  |  | - |
Deferrals |  | 1,061 |  |  |  | 23 |  |  | 988 |  |  |  | 27 |
Amortization |  | (229 | ) |  |  | (28 | ) |  | (191 | ) |  |  | (29 | )
Balance as of end-of-year | $ | 4,766 |  |  | $ | 286 |  | $ | 3,934 |  |  | $ | 291 |
DFEL amortization of $257 million, $220 million and $815 million was recorded in fee income on the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021 and 2020, respectively.

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- Definition This element may be used to encapsulate the entire disclosure, including data and tables, pertaining to the nature and amount of capitalized costs incurred to write or acquire insurance contracts or the purchase of a life insurance company, amounts such as interest credited and bonuses given to motivate purchases of insurance products, and front-end charges that are deferred and amortized into income over the life of insurance contracts. + References No definition available. + Details
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