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Other Revenues and Other Expenses | 3 Months Ended
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Mar. 31, 2024
Other Income and Expenses [Abstract] |
Other Revenues and Other Expenses | 11. Other Revenues and Other Expenses Other Revenues The Company has entered into contracts with mutual funds, fund managers, and their affiliates (collectively, the “Funds”) whereby the Company is paid monthly or quarterly fees (“12b-1 fees”) for providing certain services to customers and distributors of the Funds. The 12b-1 fees are generally equal to a fixed percentage of the average daily balance of the customer’s investment in a fund. The percentage is specified in the contract between the Company and the Funds. Payments are generally collected when due and are neither refundable nor able to offset future fees. To earn these fees, the Company performs services such as responding to phone inquiries, maintaining records, providing information to distributors and shareholders about fund performance and providing training to account managers and sales agents. The passage of time reflects the satisfaction of the Company’s performance obligations to the Funds and is used to recognize revenue associated with 12b-1 fees. Other revenues consisted primarily of 12b-1 fees of $67 million for both the three months ended March 31, 2024 and 2023, of which substantially all were reported in the Annuities segment. Other Expenses Information on other expenses was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  | (In millions)
Compensation |  |  |  |  | $ | 111 |  |  | $ | 98 |
Contracted services and other labor costs |  |  |  |  | 63 |  |  | 69 |
Transition services agreements |  |  |  |  | 7 |  |  | 11 |
Premium and other taxes, licenses and fees |  |  |  |  | 11 |  |  | 14 |
Separate account fees |  |  |  |  | 92 |  |  | 92 |
Volume related costs, excluding compensation, net of DAC capitalization |  |  |  |  | 147 |  |  | 137 |
Interest expense on debt |  |  |  |  | 38 |  |  | 38 |
Other |  |  |  |  | 38 |  |  | 19 |
Total other expenses |  |  |  |  | $ | 507 |  |  | $ | 478 |
Capitalization of DAC See Note 6 for additional information on the capitalization of DAC.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 610 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//610/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//720/tableOfContent + Details
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