Value of Business Acquired, Deferred Acquisition Costs, Unearned Revenue Reserves and Other Balances (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]

Present Value of Future Insurance Profits

The following presents a Successor Company rollforward of DAC by product and VOBA associated with VA:

	Deferred Acquisition Costs						Value of Business Acquired		Total
	Variable Annuities		Payout Annuities		Fixed Indexed Annuities
Balance as of January 1, 2022	$	94	$	112	$	—	$	341	$	547
Additions	—		—		22		—		22
Amortization	(12)		(7)		—		(42)		(61)
Impact of reinsurance	—		—		(12)		—		(12)
Balance as of December 31, 2022	82		105		10		299		496
Balance as of January 1, 2023	82		105		10		299		496
Additions	—		—		64		—		64
Amortization	(12)		(5)		(1)		(37)		(55)
Impact of reinsurance	—		—		(48)		—		(48)
Balance as of December 31, 2023	$	70	$	100	$	25	$	262	$	457

The following presents a Successor Company rollforward by product of negative VOBA:

	Fixed Annuities [1]		Payout Annuities [2]		Corporate Owned Life Insurance [1]		Total
Balance as of January 1, 2022	$	939	$	2,782	$	195	$	3,916
Additions	—		—		—		—
Amortization	(136)		(137)		(32)		(305)
Balance as of December 31, 2022	803		2,645		163		3,611
Less: reinsurance recoverables	(670)		(939)		—		(1,609)
Balance as of December 31, 2022, net of reinsurance	133		1,706		163		2,002
Balance as of January 1, 2023	803		2,645		163		3,611
Additions	—		—		—		—
Amortization	(141)		(133)		(29)		(303)
Balance as of December 31, 2023	662		2,512		134		3,308
Less: reinsurance recoverables	(552)		(893)		—		(1,445)
Balance as of December 31, 2023, net of reinsurance	$	110	$	1,619	$	134	$	1,863

[1]Recorded in other policyholder funds and benefits payable on the balance sheets. Reinsurance balances are included in reinsurance recoverables.

[2]Recorded in reserve for future policy benefits on the balance sheets. Reinsurance balances are included in reinsurance recoverables.

Deferred Policy Acquisition Costs

The following presents a Successor Company rollforward of URR, by product, as well as other balances amortized on a basis consistent with DAC, which are included in other policyholder funds and benefits payable and other liabilities, respectively, on the balance sheets:

	Unearned Revenue Reserves								Other Balances [1]
	Variable Annuities		Fixed Indexed Annuities		Payout Annuities		Total
Balance as of January 1, 2022	$	—	$	628	$	76	$	704	$	845
Additions	48		511		—		559		—
Amortization	(1)		(62)		(5)		(68)		(76)
Balance as of December 31, 2022	47		1,077		71		1,195		769
Additions	—		—		—		—		36
Amortization	(5)		(109)		(4)		(118)		(74)
Balance as of December 31, 2023	$	42	$	968	$	67	$	1,077	$	731

[1]    Relates to adjustments associated with FIA MRBs recorded in other policyholder funds and benefits payable.