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Equity (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Stock by Class [Table Text Block]
The following summarizes the activity on our share repurchase authorizations:
Predecessor
(In millions)Year Ended December 31, 2021Year Ended December 31, 2020
Beginning balance$221 $640 
Repurchases— (419)
Ending balance$221 $221 
The table below shows the changes in each class of shares issued and outstanding:
SuccessorPredecessor
(In millions)Year Ended December 31, 2022Year Ended December 31, 2021Year Ended December 31, 2020
Class A
Beginning balance192.2 191.5 143.2 
Issued shares13.1 0.9 36.0 
Forfeited shares(1.5)(0.2)(0.1)
Repurchased shares— — (13.3)
Converted from Class B shares— — 25.4 
Converted from Class M— — 0.3 
Ending balance203.8 192.2 191.5 
Class B
Beginning balance— — 25.4 
Converted to Class A shares— — (25.4)
Ending balance— — — 
Class M-1
Beginning balance— — 3.3 
Converted to Class A shares— — (0.2)
Converted to warrants— — (3.1)
Ending balance— — — 
Class M-2
Beginning balance— — 0.8 
Converted to warrants— — (0.8)
Ending balance— — — 
Class M-3
Beginning balance— — 1.0 
Converted to warrants— — (1.0)
Ending balance— — — 
Class M-4
Beginning balance— — 4.0 
Converted to Class A shares— — (0.1)
Converted to warrants— — (3.6)
Repurchased shares— — (0.3)
Ending balance— — — 
Accumulated Other Comprehensive Income
Predecessor
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceDAC, DSI, VOBA and future policy benefits adjustments on AFS securitiesUnrealized gains (losses) on hedging instrumentsForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at December 31, 2019$3,102 $— $(879)$61 $(3)$2,281 
Adoption of accounting standards
4 (4)(6)— — (6)
Other comprehensive income (loss) before reclassifications
3,312 (61)(634)(106)18 2,529 
Less: Reclassification adjustments for gains (losses) realized in net income1
353 — (94)— — 259 
Less: Income tax expense (benefit)
566 (12)(115)(26)— 413 
Less: Other comprehensive income (loss) attributable to NCI
147 — — 7 7 161 
Balance at December 31, 20205,352 (53)(1,310)(26)8 3,971 
Other comprehensive income (loss) before reclassifications2
(2,309)42 432 246 (10)(1,599)
Less: Reclassification adjustments for gains (losses) realized in net income1,2
614 (10)(156)14 — 462 
Less: Income tax expense (benefit)
(558)10 123 54 — (371)
Less: Other comprehensive income (loss) attributable to NCI, net of subsidiary issuance of equity interests and tax(154)— — 6 (1)(149)
Balance at December 31, 2021$3,141 $(11)$(845)$146 $(1)$2,430 
Successor
(In millions)Unrealized investment gains (losses) on AFS securities without a credit allowanceUnrealized investment gains (losses) on AFS securities with a credit allowanceDAC, DSI, VOBA and future policy benefits adjustments on AFS securitiesUnrealized gains (losses) on hedging instrumentsForeign currency translation and other adjustmentsAccumulated other comprehensive income (loss)
Balance at January 1, 2022$— $— $— $— $— $— 
Other comprehensive income (loss) before reclassifications
(17,929)(463)704 69 (16)(17,635)
Less: Reclassification adjustments for gains (losses) realized in net income1
(218)(18)5 67 — (164)
Less: Income tax expense (benefit)
(3,154)(86)147 12 (2)(3,083)
Less: Other comprehensive income (loss) attributable to NCI(1,992)(25)1 (57)(4)(2,077)
Balance at December 31, 2022$(12,565)$(334)$551 $47 $(10)$(12,311)
1 Recognized in investment related gains (losses) on the consolidated statements of income (loss).
2 Previously reported amounts have been revised to correct a misstatement, which was not material, in the classification of activity between other comprehensive income (loss) before reclassifications and reclassification adjustments for gains (losses) realized.
Dividends Declared
The following summarizes dividends declared and paid per preferred stock share by series:
SuccessorPredecessor
(Per share)Year Ended December 31, 2022Year Ended December 31, 2021Year Ended December 31, 2020
Series A$1,587.50 $1,587.50 $1,587.51 
Series B1,406.25 1,406.25 1,406.25 
Series C1,593.75 1,593.75 880.99 
Series D1,218.75 1,259.38 — 
Series E— — — 
The following summarizes dividends declared and paid in the aggregate on the preferred stock by series:
SuccessorPredecessor
(In millions)Year Ended December 31, 2022Year Ended December 31, 2021Year Ended December 31, 2020
Series A$55 $55 $55 
Series B19 19 19 
Series C38 38 21 
Series D29 29 — 
Total dividends declared and paid$141 $141 $95 
Schedule of Preferred Stock We have five series of preferred stock: 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares, Series A (Series A); 5.625% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series B (Series B); 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Shares, Series C (Series C); 4.875% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series D (Series D); and 7.75% Fixed-Rate Reset Perpetual Non-Cumulative Preference Shares, Series E (Series E) as summarized below:
Series ASeries BSeries CSeries DSeries E
Issue dateJune 10, 2019September 19, 2019June 11, 2020December 18, 2020December 12, 2022
Authorized, issued and outstanding34,500 13,800 24,000 23,000 20,000 
Liquidation preference per share$25,000 $25,000 $25,000 $25,000 $25,000