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Goodwill and Specifically Identifiable Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Specifically Identifiable Intangible Assets Goodwill and Specifically Identifiable Intangible Assets
The changes in the carrying amount of goodwill (in millions) by reportable segment were as follows:

For the Year Ended December 31, 2023
Gross
Goodwill
as of
Beginning-
of-Year		Accumulated
Impairment
as of
Beginning-
of-Year		Net
Goodwill
as of
Beginning-
of-Year		ImpairmentNet
Goodwill as
of End-
of-Year
Annuities$1,040 $(600)$440 $– $440 
Group Protection684 – 684 – 684 
Retirement Plan Services20 – 20 – 20 
Total goodwill$1,744 $(600)$1,144 $– $1,144 

For the Year Ended December 31, 2022
Gross
Goodwill
as of
Beginning-
of-Year		Accumulated
Impairment
as of
Beginning-
of-Year		Net
Goodwill
as of
Beginning-
of-Year		ImpairmentNet
Goodwill as
of End-
of-Year
Annuities$1,040 $(600)$440 $– $440 
Life Insurance2,188 (1,554)634 (634)– 
Group Protection684 – 684 – 684 
Retirement Plan Services20 – 20 – 20 
Total goodwill$3,932 $(2,154)$1,778 $(634)$1,144 

The fair values of our reporting units (Level 3 fair value estimates) are comprised of the value of in-force (i.e., existing) business and the value of new business. Specifically, new business is representative of cash flows and profitability associated with policies or contracts we expect to issue in the future, reflecting our forecasts of future sales volume and product mix over a 10-year period. To determine the values of in-force and new business, we use a discounted cash flows technique that applies a discount rate reflecting the market expected, weighted-average rate of return adjusted for the risk factors associated with operations to the projected future cash flows for each reporting unit.

2023 Analysis

As of October 1, 2023, we performed our annual quantitative goodwill impairment test for our Annuities, Group Protection and Retirement Plan Services reporting units, and, as of such date, the fair value was in excess of each reporting unit’s carrying value.

2022 Analysis

As a result of the capital market environment during the third quarter of 2022, including (i) declining equity markets and (ii) the impact of rising interest rates on our discount rate assumption, we accelerated our quantitative goodwill impairment test for our Life Insurance reporting unit as we concluded that there were indicators of impairment. Based on this quantitative test, which included updating our best estimate assumptions therein, we incurred an impairment during the third quarter of 2022 of the Life Insurance reporting unit goodwill of $634 million, which represented a write-off of the entire balance of goodwill for the reporting unit.

As of October 1, 2022, we performed our annual quantitative goodwill impairment test for our other reporting units, and, as of such date, the fair value was in excess of the carrying value for each of the Annuities, Group Protection and Retirement Plan Services reporting units.
The gross carrying amounts and accumulated amortization (in millions) for each major specifically identifiable intangible asset class by reportable segment were as follows:

As of December 31, 2023As of December 31, 2022
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Life Insurance:
Sales force$100 $71 $100 $67 
Group Protection:
VOCRA576 145 576 115 
VODA31 12 31 10 
Retirement Plan Services:
Mutual fund contract rights (1)
5 – 5 – 
Total$712 $228 $712 $192 

(1) No amortization recorded as the intangible asset has indefinite life.

Future estimated amortization of specifically identifiable intangible assets (in millions) as of December 31, 2023, was as follows:

2024$37 
202537 
202637 
202737 
202837 
Thereafter294