XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.24.3

Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 15. 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.
| September 30, 2024 |  | December 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 |  |  | $ | (27) |  |  | $ | 1,458 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |
Trade name | 58 |  |  | (4) |  |  | 54 |  |  | 10 |  |  | (2) |  |  | 8 |
Internally generated software | 45 |  |  | (4) |  |  | 41 |  |  | — |  |  | — |  |  | — |
Total definite-lived intangible assets | 1,588 |  |  | (35) |  |  | 1,553 |  |  | 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 | $ | 1,634 |  |  | $ | (35) |  |  | $ | 1,599 |  |  | $ | 46 |  |  | $ | (2) |  |  | $ | 44 |
No impairment expenses of intangible assets were recognized for the three and nine months ended September 30, 2024 and 2023. We estimate that our intangible assets do not have any significant residual value in determining their amortization. Amortization expenses for definite-lived intangible assets were $20 million and $33 million for the three and nine months ended September 30, 2024 and $0 million and $1 million for the three and nine months ended September 30, 2023, respectively. The following table outlines the estimated future amortization expense related to definite-lived intangible assets held as of September 30, 2024.
Years |  | (Dollars in millions)
2024 |  | $ | 21 |
2025 |  | 81 |
2026 |  | 81 |
2027 |  | 72 |
2028 |  | 67 |
Thereafter |  | 1,231 |
Total amortization expense |  | $ | 1,553 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration