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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets    
AFS securities allowance for credit losses $ 522 $ 459
Available-for-sale securities 146,211 131,422
Accrued investment income (related party: 2023 – $154 and 2022 – $105) 1,646 1,328
Reinsurance recoverable (portion at fair value: 2023 – $1,436 and 2022 – $1,388) 4,236 4,358
Other assets (related party: 2023 – $189 and 2022 – $161) 7,914 8,693
Investment funds 15,868 14,128
Liabilities and Equity    
Interest sensitive contract liabilities 184,359 173,616
Future policy benefits 50,284 42,110
Liability 3,195 2,970
Other liabilities 1,936 1,860
Accumulated other comprehensive loss (related party: 2023 – $(126) and 2022 – $(167)) (6,376) (7,321)
Related Party    
Assets    
AFS securities allowance for credit losses 1 1
Available-for-sale securities 13,969 10,440
Equity securities, at fair value 313 279
Short-term Investments 891 0
Other investments 343 303
Investment funds 1,061 959
Accrued investment income (related party: 2023 – $154 and 2022 – $105) 154 105
Other assets (related party: 2023 – $189 and 2022 – $161) 189 161
Trading securities, at fair value 867 878
Mortgage loans, net of allowances 1,296 1,302
Investment funds 1,636 1,569
Liabilities and Equity    
Interest sensitive contract liabilities 10,877 11,889
Future policy benefits 1,321 1,353
Liability 210  
Other liabilities 597 564
Accumulated other comprehensive loss (related party: 2023 – $(126) and 2022 – $(167)) (126) (167)
Consolidated Entity, excluding Affiliated Entity    
Assets    
AFS securities allowance for credit losses 521 458
Available-for-sale securities 132,242 120,982
Short-term Investments 650 2,160
Other investments 741 773
Trading securities, at fair value 1,628 1,595
Mortgage loans, net of allowances 34,668 27,454
Investment funds 123 79
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary    
Assets    
Other investments 74 73
Trading securities, at fair value 748 0
Mortgage loans, net of allowances 348 342
Investment funds 13,592 10,068
Liabilities and Equity    
Other liabilities 564 292
Fair Value    
Assets    
Short-term Investments   1,640
Liabilities and Equity    
Interest sensitive contract liabilities 121,326 111,608
Fair Value | Related Party    
Assets    
Short-term Investments 891  
Investment funds 575 610
Fair Value | Consolidated Entity, excluding Affiliated Entity    
Assets    
Other investments 195 162
Investment funds 123 79
Recurring | Fair Value    
Assets    
Reinsurance recoverable (portion at fair value: 2023 – $1,436 and 2022 – $1,388) 1,436 1,388
Other assets (related party: 2023 – $189 and 2022 – $161) 433  
Liabilities and Equity    
Interest sensitive contract liabilities 9,052 6,670
Future policy benefits 1,730 1,712
Liability 3,195 2,970
Recurring | Fair Value | Investments, excluding investments in Related Party    
Assets    
Equity securities, at fair value 896 1,087
Short-term Investments 650 520
Recurring | Fair Value | Related Party    
Assets    
Equity securities, at fair value 313 279
Embedded derivative assets, fair value (1,297) (1,425)
Other investments 343 303
Reinsurance recoverable (portion at fair value: 2023 – $1,436 and 2022 – $1,388)   1,388
Trading securities, at fair value 867 878
Mortgage loans, net of allowances 1,296 1,302
Investment funds 1,061 959
Recurring | Fair Value | Consolidated Entity, excluding Affiliated Entity    
Assets    
Equity securities, at fair value 896 1,087
Embedded derivative assets, fair value (4,356) (4,847)
Short-term Investments 650 520
Other investments 547 611
Trading securities, at fair value 1,628 1,595
Mortgage loans, net of allowances $ 34,668 $ 27,454