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Consolidated Statements Of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Insurance premiums $ 1,514 $ 1,496 $ 4,581 $ 4,338
Fee income 1,305 1,324 3,934 4,065
Net investment income 1,466 1,241 4,351 3,931
Realized gain (loss) (867) 33 (4,513) 541
Amortization of deferred gain (loss) on business sold through reinsurance 14 9 31 29
Other revenues 145 162 457 451
Total revenues 3,577 4,265 8,841 13,355
Expenses        
Benefits 1,895 2,094 5,766 6,118
Interest credited 827 722 2,412 2,121
Market risk benefit (gain) loss (1,014) (74) (1,182) 755
Policyholder liability remeasurement (gain) loss 157 2,370 (70) 2,496
Commissions and other expenses 1,275 1,219 3,805 3,591
Interest and debt expense 49 36 142 96
Spark program expense 36 44 101 118
Impairment of intangibles   634   634
Total expenses 3,225 7,045 10,974 15,929
Income (loss) before taxes 352 (2,780) (2,133) (2,574)
Federal income tax expense (benefit) 37 (488) (564) (500)
Net income (loss) 315 (2,292) (1,569) (2,074)
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) (2,807) (4,909) 1,088 (18,727)
Market risk benefit non-performance risk gain (loss) (844) (150) (742) 224
Policyholder liability discount rate remeasurement gain (loss) 345 517 257 1,943
Total other comprehensive income (loss), net of tax (3,306) (4,542) 603 (16,560)
Comprehensive income (loss) $ (2,991) $ (6,834) $ (966) $ (18,634)