10-Q Accumulated Other Comprehensive Loss

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

A reconciliation of the components of accumulated other comprehensive loss at September 30, 2023 and 2022 is as follows:

	Three Months Ended   September 30				Nine Months Ended   September 30
	2023		2022		2023		2022
			(Restated)				(Restated)
Net unrealized investment (losses) gains:
Beginning of period balance	$	(1,449)	$	(1,489)	$	(1,755)	$	494
Other comprehensive loss before reclassifications, net of tax benefit (expense) of $145, $220, $119 and $896, respectively	(464)		(719)		(317)		(2,914)
Amounts reclassified from accumulated other comprehensive loss, net of tax expense of $(35), $(21), $(86) and $(75), respectively	112		80		273		284
Other comprehensive loss	(352)		(639)		(44)		(2,630)
Other comprehensive loss (income) attributable to noncontrolling interests, net of tax benefit (expense) of $(1), $(1), $(1) and $(4), respectively	2		3		—		11
End of period balance	(1,799)		(2,125)		(1,799)		(2,125)
Non-credit components of impairments on investments:
Beginning of period balance	(6)		(2)		(3)		—
Other comprehensive income (loss), net of tax benefit of $(1), $0, $0 and $1, respectively	2		(1)		(1)		(3)
End of period balance	(4)		(3)		(4)		(3)
Net cash flow hedges:
Beginning of period balance	(214)		(233)		(229)		(239)
Other comprehensive income, net of tax (expense) of $(1), $0, $6 and $(2), respectively	1		2		16		8
End of period balance	(213)		(231)		(213)		(231)
Pension and other postretirement benefits:
Beginning of period balance	(494)		(413)		(499)		(429)
Other comprehensive income, net of tax expense of $0, $(3), $(2) and $(9), respectively	2		7		7		23
End of period balance	(492)		(406)		(492)		(406)
Future policy benefits:
Beginning of period balance	12		(2)		13		(19)
Other comprehensive income, net of tax expense of $0, $(2), $0 and $(7), respectively	3		7		2		24
End of period balance	15		5		15		5
Foreign currency translation adjustments:
Beginning of period balance	(15)		(12)		(17)		(4)
Other comprehensive loss, net of tax benefit of $1, $2, $0 and $4, respectively	(4)		(7)		(2)		(15)
End of period balance	(19)		(19)		(19)		(19)
Total:
Total beginning of period accumulated other comprehensive loss	(2,166)		(2,151)		(2,490)		(197)
Total other comprehensive loss, net of tax benefit (expense) of $109, $196, $37, and $808, respectively	(348)		(631)		(22)		(2,593)
Total other comprehensive loss attributable to noncontrolling interests, net of tax benefit (expense) of $(1), $(1), $(1) and $(4) respectively	2		3		—		11
Total end of period accumulated other comprehensive loss	$	(2,512)	$	(2,779)	$	(2,512)	$	(2,779)

Accumulated Other Comprehensive (Loss) Income

A reconciliation of the components of accumulated other comprehensive (loss) income at December 31, 2022, 2021, and 2020 is as follows:

	2022		2021		2020
Net unrealized investment gains:
Beginning of year balance	$	492	$	949	$	521
Other comprehensive (loss) income before reclassifications, net of tax benefit (expense) of $926, $121, and $(160), respectively	(2,614)		(357)		478
Amounts reclassified from accumulated other comprehensive income, net of tax benefit (expense) of $(94), $27, and $(13), respectively	354		(100)		(50)
Other comprehensive (loss) income	(2,260)		(457)		428
End of year balance	(1,768)		492		949
Non-credit components of impairments on investments:
Beginning of year balance	—		(2)		(2)
Other comprehensive income, net of tax (expense) benefit of $0, $(1),and $0, respectively	(3)		2		—
End of year balance	(3)		—		(2)
Net cash flow hedges:
Beginning of year balance	(239)		(250)		(262)
Other comprehensive income, net of tax expense of $(6), $(3), and $(3), respectively	10		11		12
End of year balance	(229)		(239)		(250)
Pension and other postretirement benefits:
Beginning of year balance	(429)		(552)		(551)
Other comprehensive income (loss), net of tax expense of $(23), $(36), and $(2), respectively	(70)		123		(1)
End of year balance	(499)		(429)		(552)
Future policy benefits
Beginning of year balance	(19)		—		—
Adoption of ASU 2018-12	—		(12)		—
Other comprehensive income (loss), net of tax (expense) benefit of (10), $2, and $0, respectively	32		(7)		—
End of year balance	13		(19)		—
Foreign currency translation adjustments:
Beginning of year balance	(4)		5		(2)
Other comprehensive (loss) income, net of tax benefit (expense) of $6, $2, and $(2)	(13)		(9)		7
End of year balance	(17)		(4)		5
Total:
Total beginning of year accumulated other comprehensive (loss) income	(197)		150		(296)
Adoption of ASU 2018-12	—		(12)		—
Total other comprehensive (loss) income, net of tax benefit (expense) of $799, $112, and $(154), respectively	(2,304)		(337)		446
Total other comprehensive loss attributable to noncontrolling interests, net of tax (expense) benefit of $(3), $1, and $0, respectively	11		2		—
Total end of year accumulated other comprehensive (loss) income	$	(2,490)	$	(197)	$	150