XML 99 R81.htm IDEA: XBRL DOCUMENT v3.25.0.1
DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period $ 3 $ 6 $ 4
Unrealized foreign currency translation gains (losses) during period (769) (366) (1,034)
Derivative and non-derivative hedging instruments gain (loss) recognized in other comprehensive income effective portion before tax 687 576 1,048
Reclassification out of Accumulated Other Comprehensive Income      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative instruments, cash flow hedges, gains (losses) reclassified from accumulated other comprehensive income into earnings (4) (4) (4)
Other comprehensive income (loss), derivative, excluded Component, increase (decrease), before adjustments and tax (1) (1) (1)
Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative $ (2) $ (2) $ (1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Net investment income Net investment income Net investment income
Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative $ (363) $ (531) $ (1,151)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Net investment gains (losses) Net investment gains (losses) Net investment gains (losses)
Cash flow hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period $ 2 $ 5 $ 4
Cash flow hedges | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (1) (1) (1)
Cash flow hedges | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [1] (4) (4) (4)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated      
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period 2 5 4
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (1) (1) (1)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (4) (4) (4)
Fair value hedges | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (1) (1) 0
Fair value hedges | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 (65) (18)
Fair value hedges | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 (65) (18)
Fair value hedges | Interest rate swaptions      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in other comprehensive income on derivative [2] 1 1 0
Fair value hedges | Interest rate swaptions | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] (1) (1) 0
Fair value hedges | Interest rate swaptions | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] 0 0 0
Net investment hedge      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 138 229 (81)
Unrealized foreign currency translation gains (losses) during period 684 570 1,044
Net investment hedge | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 (5) (1)
Unrealized foreign currency translation gains (losses) during period 0 0 0
Net investment hedge | Non-derivative hedging Instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 0 0
Unrealized foreign currency translation gains (losses) during period 426 257 371
Net investment hedge | Foreign currency forwards      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 138 234 (80)
Unrealized foreign currency translation gains (losses) during period 258 313 673
Non-qualifying strategies      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (497) (691) (1,048)
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity, Consolidated      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (215) (201) 9
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 2 4 159
Non-qualifying strategies | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (107) (53) 0
Non-qualifying strategies | Interest rate swaptions      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 0 1
Non-qualifying strategies | Foreign currency forwards      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 17 (349) (650)
Non-qualifying strategies | Interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (194) (88) (546)
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity, Consolidated      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative $ 0 $ (4) $ (21)
[1] Impact of cash flow hedges reported as net investment gains (losses) includes $4 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2024, compared with $4 of losses during the years ended December 31, 2023 and 2022, respectively.
[2] Includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2024, compared with $1 of losses during the years ended December 31, 2023 and 2022, respectively, related to fair value hedges excluded component. Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail).