Deferred Acquisition Costs and Deferred Sales Inducement Costs (Tables)

9 Months Ended

Sep. 30, 2020

Deferred Charges, Insurers [Abstract]

Schedule of balances of and changes in DAC

The balances of and changes in DAC were as follows:

	2020		2019
	(in millions)
Balance at January 1	$	2,673	$	2,742
Capitalization of acquisition costs	155		178
Amortization	(238)		(127)
Amortization, impact of valuation assumptions review	(100)		(14)
Impact of change in net unrealized (gains) losses on securities	(61)		(175)
Balance at September 30	$	2,429	$	2,604

Schedule of balances of and changes in DSIC

The balances of and changes in DSIC, which is included in other assets, were as follows:

	2020		2019
	(in millions)
Balance at January 1	$	216	$	249
Capitalization of sales inducement costs	1		1
Amortization	(19)		(14)
Amortization, impact of valuation assumptions review	(16)		—
Impact of change in net unrealized (gains) losses on securities	(1)		(21)
Balance at September 30	$	181	$	215