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Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired (Tables)

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Deferred Acquisition Costs

The following represents a rollforward of DAC, DSI and VOBA:

Predecessor
(In millions)			DAC						DSI						VOBA						Total
Balance at December 31, 2019			$	3,274					$	820					$	914					$	5,008
Adoption of accounting standard			12						5						5						22
Additions			633						178						—						811
Unlocking			(36)						(13)						(11)						(60)
Amortization			(414)						(53)						(60)						(527)
Impact of unrealized investment (gains) losses			(233)						(80)						(35)						(348)
Balance at December 31, 2020			3,236						857						813						4,906
Additions			698						265						—						963
Unlocking			(18)						(16)						24						(10)
Amortization			(483)						(182)						(155)						(820)
Impact of unrealized investment (gains) losses			182						54						87						323
Balance at December 31, 2021			$	3,615					$	978					$	769					$	5,362
Successor
(In millions)			DAC						DSI						VOBA						Total
Balance at January 1, 2022			$	—					$	—					$	4,527					$	4,527
Additions			1,127						413						—						1,540
Unlocking			—						—						4						4
Amortization			(25)						—						(488)						(513)
Impact of unrealized investment (gains) losses and other			21						—						(3)						18
Balance at December 31, 2022			$	1,123					$	413					$	4,040					$	5,576

The expected amortization of VOBA for the next five years is as follows:

(In millions)			Expected Amortization
2023			$	440
2024			402
2025			370
2026			336
2027			301

Deferred Sales Inducements

The following represents a rollforward of DAC, DSI and VOBA:

Predecessor
(In millions)			DAC						DSI						VOBA						Total
Balance at December 31, 2019			$	3,274					$	820					$	914					$	5,008
Adoption of accounting standard			12						5						5						22
Additions			633						178						—						811
Unlocking			(36)						(13)						(11)						(60)
Amortization			(414)						(53)						(60)						(527)
Impact of unrealized investment (gains) losses			(233)						(80)						(35)						(348)
Balance at December 31, 2020			3,236						857						813						4,906
Additions			698						265						—						963
Unlocking			(18)						(16)						24						(10)
Amortization			(483)						(182)						(155)						(820)
Impact of unrealized investment (gains) losses			182						54						87						323
Balance at December 31, 2021			$	3,615					$	978					$	769					$	5,362
Successor
(In millions)			DAC						DSI						VOBA						Total
Balance at January 1, 2022			$	—					$	—					$	4,527					$	4,527
Additions			1,127						413						—						1,540
Unlocking			—						—						4						4
Amortization			(25)						—						(488)						(513)
Impact of unrealized investment (gains) losses and other			21						—						(3)						18
Balance at December 31, 2022			$	1,123					$	413					$	4,040					$	5,576

The expected amortization of VOBA for the next five years is as follows:

(In millions)			Expected Amortization
2023			$	440
2024			402
2025			370
2026			336
2027			301

X

- Definition

Tabular disclosure of the movement in deferred policy acquisition costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 30
-Section 50
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-Name Accounting Standards Codification
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-Section 65
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-Publisher FASB
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- Definition

Tabular disclosure of deferred sale inducement cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 30
-Section 50
-Paragraph 3
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