SCHEDULE I - CONSOLIDATED SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

CONSOLIDATED SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES

CONSOLIDATED SUMMARY OF INVESTMENTS – OTHER THAN

INVESTMENTS IN RELATED PARTIES

(in millions)

Column A	Column B		Column C		Column D
	As of December 31, 2023
	Cost or		Fair		Carrying
Type of Investment	Amortized Cost		Value		Value
Fixed Maturity Available-For-Sale Securities (1)
Bonds:
U.S. government bonds	$	416	$	393	$	393
Foreign government bonds	314		283		283
State and municipal bonds	3,106		2,790		2,790
Public utilities	12,683		11,320		11,320
All other corporate bonds	64,402		58,337		58,337
Mortgage-backed and asset-backed securities	16,268		15,368		15,368
Hybrid and redeemable preferred securities	244		247		247
Total fixed maturity available-for-sale securities	97,433		88,738		88,738
Equity Securities
Common stocks:
Banks, trusts and insurance companies	29		32		32
Industrial, miscellaneous and all other	41		38		38
Non-redeemable preferred securities	270		236		236
Total equity securities	340		306		306
Trading Securities	2,515		2,359		2,359
Mortgage loans on real estate (2)	19,115		17,407		18,963
Policy loans	2,476		N/A		2,476
Derivative investments	2,714		6,474		6,474
Other investments	5,015		5,015		5,015
Total investments	$	129,608			$	124,331

(1) For investments deemed to have declines in value that are impairment-related, an allowance for credit losses is recorded to reduce the carrying value to their estimated realizable value.

(2) Mortgage loans on real estate are generally carried at unpaid principal balances adjusted for amortization of premiums and accretion of discounts and are net of allowance for credit losses. We carry certain mortgage loans at fair value where the fair value option has been elected.