INCOME TAXES (Details - Components of the net deferred tax assets (liabilities) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Losses and tax credit carryforwards	$ 7,291	$ 9,257
Basis differences on investments	2,944	3,718
Fortitude Re funds withheld embedded derivative	543	1,193
Life policy reserves	3,751	2,396
Accruals not currently deductible, and other	634	632
Investments in foreign subsidiaries	0	146
Loss reserve discount	455	423
Loan loss and other reserves	509	560
Unearned premium reserve reduction	283	326
Fixed assets and intangible assets	1,262	1,077
Other	247	0
Employee benefits	407	567
Total deferred tax assets	18,326	20,295
Deferred tax liabilities:
Deferred Tax Liabilities, Investments in foreign subsidiaries	(15)	0
Deferred policy acquisition costs	(2,054)	(2,026)
Unrealized gains related to available for sale debt securities	(2,791)	(4,328)
Other	0	(221)
Total deferred tax liabilities	(4,860)	(6,575)
Net deferred tax assets before valuation allowance	13,466	13,720
Valuation allowance	(1,987)	(1,330)
Net deferred tax assets (liabilities)	$ 11,479	$ 12,390