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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Premiums (net of reinsurance ceded of $121, $94 and $139) $ 674 $ 618 $ 677
Contract charges (net of reinsurance ceded of $140, $177 and $180) 743 675 682
Other revenue 17 34 42
Net investment income 1,786 1,242 1,411
Net gains and losses on investments and derivatives 624 266 341
Total revenues 3,844 2,835 3,153
Costs and expenses      
Contract benefits (net of reinsurance ceded of $271, $176 and $187) 1,719 1,729 1,481
Interest credited to contractholder funds (net of reinsurance ceded of $45, $44 and $40) 435 579 585
Amortization of deferred policy acquisition costs 150 147 180
Operating costs and expenses 219 229 249
Cost of reinsurance amortization and other reinsurance related expenses 79 0 0
Restructuring and related charges 3 5 1
Interest expense 4 7 5
Total costs and expenses 2,609 2,696 2,501
(Loss) gain on disposition of operations (1,070) 4 6
Income from operations before income tax expense 165 143 658
Income tax expense 330 7 128
Net (loss) income (165) 136 530
Other comprehensive (loss) income, after-tax      
Change in unrealized net capital gains and losses (787) 282 679
Change in unrealized foreign currency translation adjustments 3 10 (17)
Other comprehensive (loss) income, after-tax (784) 292 662
Comprehensive (loss) income $ (949) $ 428 $ 1,192