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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The tables below reconcile our segment measures of performance to the GAAP measures presented on the Consolidated Statements of Comprehensive Income (Loss) (in millions):
For the Three
Months Ended
September 30,		For the Nine
Months Ended
September 30,
2024202320242023
Revenues
Operating revenues:
Annuities$1,101 $1,095 $3,421 $3,236 
Life Insurance1,249 1,627 3,748 4,920 
Group Protection (1)
1,353 1,387 (273)4,174 
Retirement Plan Services331 321 971 972 
Other Operations55 32 114 106 
Revenue adjustments from annuity and
 life insurance product features196 268 589 154 
Credit loss-related adjustments(88)(25)(123)(50)
Investment gains (losses) (2)
(57)(1,091)(317)(4,228)
Changes in the fair value of reinsurance-related embedded
derivatives, trading securities and certain mortgage loans (3)
(416)190 (326)251 
GLB rider fees ceded to LNBAR(242)(227)(703)(694)
Gains (losses) on other non-financial assets – sale of
subsidiaries/businesses (4)
– – 481 – 
Total revenues$3,482 $3,577 $7,582 $8,841 
Reconciliation Of Income (Loss) From Operations By Segment To Consolidated Net Income (Loss)
For the Three
Months Ended
September 30,		For the Nine
Months Ended
September 30,
2024
2023 (5)
2024
2023 (5)
Net Income (Loss)
Income (loss) from operations:
Annuities$227 $190 $702 $626 
Life Insurance133 (152)160 (152)
Group Protection62 67 271 246 
Retirement Plan Services41 39 110 120 
Other Operations(38)(66)(152)(191)
Net annuity product features, pre-tax(347)1,203 1,066 1,536 
Net life insurance product features, pre-tax (6)
(132)248 (277)390 
Credit loss-related adjustments, pre-tax(88)(25)(123)(50)
Investment gains (losses), pre-tax (2)
(57)(1,091)(317)(4,228)
Changes in the fair value of reinsurance-related
embedded derivatives, trading securities and
certain mortgage loans, pre-tax (3)
(416)190 (326)251 
GLB rider fees ceded to LNBAR, pre-tax(242)(227)(703)(694)
Gains (losses) on other non-financial assets – sale of
subsidiaries/businesses, pre-tax (4)
– – 481 – 
Other items, pre-tax (7) (8) (9) (10)
(19)(10)(113)(23)
Income tax benefit (expense) related to the
above pre-tax items276 (51)39 600 
Net income (loss)$(600)$315 $818 $(1,569)

(1)    The nine months ended September 30, 2024, reflect day one impacts pertaining to the second quarter 2024 reinsurance transaction. For more information, see Note 7.
(2)    The three and nine months ended September 30, 2023, include impairments of certain fixed maturity AFS securities in an unrealized loss position, resulting from the Company’s intent to sell these securities as part of the fourth quarter 2023 reinsurance transaction. See Notes 3 and 7 for additional information.
(3)    Includes primarily changes in the fair value of embedded derivatives related to affiliate reinsurance transactions. For more information, see Note 7.
(4)    For information on the sale of the wealth management business, see Note 1.
(5)    The prior period presentation has been recast to conform to the revised definition of income (loss) from operations.
(6)    Includes $162 million and $580 million for the three and nine months ended September 30, 2023, respectively, related to the fourth quarter 2023 reinsurance transaction. For more information, see Note 7.
(7)    Includes certain legal accruals of $(10) million in the third quarter of 2023 and $(3) million in the first quarter of 2024.
(8)    Includes severance expense related to initiatives that realign the workforce of $(3) million, $(3) million, $(49) million, $(7) million and $(16) million in the first quarter of 2023, second quarter of 2023, first quarter of 2024, second quarter of 2024 and third quarter of 2024, respectively.
(9)    Includes transaction and integration costs related to mergers, acquisitions and divestitures of $(9) million, $(1) million, $(10) million, $(16) million and $(2) million for the second quarter of 2023, third quarter of 2023, first quarter of 2024, second quarter of 2024 and third quarter of 2024, respectively.
(10)    Includes deferred compensation mark-to-market adjustment of $7 million, $(5) million, $1 million, $(9) million and $(1) million in the first quarter of 2023, second quarter of 2023, third quarter of 2023, first quarter of 2024 and third quarter of 2024, respectively.
Reconciliation of Assets from Segment to Consolidated
Other segment information (in millions) was as follows:

As of
 September 30,		As of
 December 31,
20242023
Assets
Annuities$210,688 $186,716 
Life Insurance 115,017 107,529 
Group Protection13,260 9,741 
Retirement Plan Services49,647 46,969 
Other Operations21,061 23,021 
Total assets$409,673 $373,976