Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]


Goodwill
As of December 31, 2021 (Successor Company)
	Carrying Value
Balance, beginning of period	$	—
Acquisitions [1]	97
Accumulated impairments	—
Balance, end of period	$	97

[1] Related to the pushdown of purchase accounting related to the Sixth Street Acquisition on July 1, 2021. For more information, see Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements.

The goodwill from the Sixth Street Acquisition is attributable to the Company's expectation to leverage Sixth Street's capital management strategy for its life insurance business.


Other Intangible Assets
	Amortizing Intangible Assets [1]		Indefinite Lived Intangible Assets [2]		Total Other Intangible Assets
Predecessor Company
Gross carrying value, as of December 31, 2020	$	29	$	26	$	55
Accumulated amortization through June 30, 2021	18		—		18
Net carrying value, as of June 30, 2021	$	11	$	26	$	37
Weighted average expected life in years	5				5
Successor Company
Gross carrying value, as of July 1, 2021	$	29	$	26	$	55
Additions [3]	30		—		30
Accumulated amortization through December 31, 2021	21		—		21
Net carrying value, as of December 31, 2021	$	38	$	26	$	64
Weighted average expected life in years	7				7

[1] Consists of internally developed software.

[2] Consists of state insurance licenses.

[3] Related to the election of pushdown accounting due to the Sixth Street Acquisition. For more information, see Note 1 - Basis of Presentation and Significant Accounting Policies of Notes to Consolidated Financial Statements.

There have been no renewals or extensions since December 31, 2020 (Predecessor Company).


Expected Pre-tax Amortization Expense (Successor Company)
Years	Expected Future Amortization Expense
2022	$	6
2023	$	6
2024	$	6
2025	$	6
2026	$	6