DAC AND POLICYHOLDER BONUS INTEREST CREDITS (Tables)

12 Months Ended

Dec. 31, 2022

Contract holder Bonus Interest Credits [Abstract]

Schedule of Deferred Policy Acquisition Costs

Changes in the DAC asset for the years ended December 31, 2022, 2021 and 2020 were as follows:

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Balance, beginning of year	$	4,267	$	3,816	$	4,225
Capitalization of commissions, sales and issue expenses	702		724		564
Amortization:
Impact of assumptions updates and model changes	7		19		(866)
All other	(473)		(475)		(467)
Total amortization	(466)		(456)		(1,333)
Change in unrealized investment gains and losses	1,354		183		360
Balance, end of year	$	5,857	$	4,267	$	3,816

Schedule of Changes of Deferred Assets for Policyholder Bonus Credits and Deferred Acquisition Costs

The deferred asset for policyholder bonus interest credits is reported in other assets in the consolidated balance sheets and changes in the deferred asset for policyholder bonus Interest credits are reported in interest credited to policyholders’ account balances. For the years ended December 31, 2022, 2021 and 2020 changes were as follows:

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Balance, beginning of year	$	361	$	405	$	431
Amortization charged to income	(41)		(44)		(26)
Balance, end of year	$	320	$	361	$	405