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Separate Accounts | 12 Months Ended
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Dec. 31, 2022
Separate Accounts [Abstract] |
Separate Account | 11. Sepa rate Accounts The following table presents the fair value of separate account assets (in millions) reported on the Consolidated Balance Sheets by major investment category:
| As of December 31, |
| 2022 |  | 2021 |
Mutual funds and collective investment trusts | $ | 142,892 |  | $ | 181,766 |
Exchange-traded funds |  | 258 |  |  | 432 |
Fixed maturity AFS securities |  | 169 |  |  | 207 |
Cash and invested cash |  | 98 |  |  | 54 |
Other investments |  | 119 |  |  | 124 |
Total | $ | 143,536 |  | $ | 182,583 |
The following table reconciles separate account liabilities (in millions) to the Consolidated Balance Sheets:
| As of December 31, |
| 2022 |  | 2021 |
UL and Other | $ | 20,920 |  | $ | 24,785 |
Variable Annuities |  | 105,573 |  |  | 136,665 |
Retirement Plan Services |  | 16,996 |  |  | 21,068 |
Other Operations (1) |  | 47 |  |  | 65 |
Total separate account liabilities | $ | 143,536 |  | $ | 182,583 |
(1)Represents separate account liabilities reported in Other Operations primarily attributable to the indemnity reinsurance agreements with Protective ($42 million and $62 million as of December 31, 2022 and December 31, 2021, respectively) that are excluded from the following tables. The following table summarizes the balances of and changes in separate account liabilities (in millions):
| As of or For the Year Ended |  | As of or For the Year Ended |
| December 31, 2022 |  | December 31, 2021 |
|  |  |  |  | Retirement |  |  |  |  |  | Retirement |
| UL and |  | Variable |  | Plan |  | UL and |  | Variable |  | Plan |
| Other |  | Annuities |  | Services |  | Other |  | Annuities |  | Services |
Balance as of beginning-of-year | $ | 24,785 |  | $ | 136,665 |  | $ | 21,068 |  | $ | 20,952 |  | $ | 128,121 |  | $ | 18,809 |
Gross deposits |  | 1,900 |  |  | 3,371 |  |  | 2,378 |  |  | 1,786 |  |  | 5,220 |  |  | 2,294 |
Withdrawals |  | (454) |  |  | (9,238) |  |  | (2,378) |  |  | (441) |  |  | (11,499) |  |  | (2,970) |
Policyholder assessments |  | (938) |  |  | (2,603) |  |  | (164) |  |  | (865) |  |  | (2,836) |  |  | (185) |
Change in market performance |  | (4,371) |  |  | (23,194) |  |  | (3,710) |  |  | 3,470 |  |  | 16,990 |  |  | 3,245 |
Net transfers from (to) general account |  | (2) |  |  | 572 |  |  | (198) |  |  | (117) |  |  | 669 |  |  | (125) |
Balance as of end-of-year | $ | 20,920 |  | $ | 105,573 |  | $ | 16,996 |  | $ | 24,785 |  | $ | 136,665 |  | $ | 21,068 |
Cash surrender value | $ | 18,666 |  | $ | 103,987 |  | $ | 16,982 |  | $ | 22,614 |  | $ | 134,896 |  | $ | 21,049 |

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- Definition The entire disclosure for separate account. Includes, but is not limited to, extent and terms of minimum guarantee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 80 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124508989&loc=d3e19393-158473 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 80 -URI https://asc.fasb.org/subtopic&trid=4738016 + Details
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