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Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Definite-lived Intangible Assets
The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 - Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for VOBA asset, which is an actuarial intangible asset arising from a business combination.
June 30, 2024December 31, 2023
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
(Dollars in millions)
Definite-lived intangible assets:
Distributor relationships
$1,485 $(11)$1,474 $5 $— $5 
Trade name
58 (3)55 10 (2)8 
Internally generated software
38 (1)37 — — — 
Sublease and other
— — — — — — 
Total definite-lived intangible assets
1,581 (15)1,566 15 (2)13 
Indefinite-lived intangible assets:
Insurance licenses
46 — 46 31 — 31 
Total indefinite-lived intangible assets
46 — 46 31 — 31 
Total intangible assets
$1,627 $(15)$1,612 $46 $(2)$44 
Components of Indefinite-lived Intangible Assets
The components of definite-lived and indefinite-lived intangible assets are as follows. Refer to Note 14 - Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired for VOBA asset, which is an actuarial intangible asset arising from a business combination.
June 30, 2024December 31, 2023
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
(Dollars in millions)
Definite-lived intangible assets:
Distributor relationships
$1,485 $(11)$1,474 $5 $— $5 
Trade name
58 (3)55 10 (2)8 
Internally generated software
38 (1)37 — — — 
Sublease and other
— — — — — — 
Total definite-lived intangible assets
1,581 (15)1,566 15 (2)13 
Indefinite-lived intangible assets:
Insurance licenses
46 — 46 31 — 31 
Total indefinite-lived intangible assets
46 — 46 31 — 31 
Total intangible assets
$1,627 $(15)$1,612 $46 $(2)$44 
Schedule of Estimated Future Amortization Expense
The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of June 30, 2024.
Years(Dollars in millions)
2024$36 
202573 
202673 
202773 
202873 
Thereafter1,238 
Total amortization expense$1,566