Equity (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Information regarding changes in the balances of each component of AOCI was as follows:

	Three Months Ended June 30, 2022
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at March 31, 2022	$	77	$	248	$	(14)	$	311
OCI before reclassifications	(4,496)		262		(24)		(4,258)
Deferred income tax benefit (expense) (2)	925		(36)		5		894
AOCI before reclassifications, net of income tax	(3,494)		474		(33)		(3,053)
Amounts reclassified from AOCI	61		(5)		—		56
Deferred income tax benefit (expense) (2)	(12)		—		—		(12)
Amounts reclassified from AOCI, net of income tax	49		(5)		—		44
Balance at June 30, 2022	$	(3,445)	$	469	$	(33)	$	(3,009)

	Three Months Ended June 30, 2021
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at March 31, 2021	$	3,150	$	49	$	(14)	$	3,185
OCI before reclassifications	1,284		114		2		1,400
Deferred income tax benefit (expense) (2)	(270)		(24)		(1)		(295)
AOCI before reclassifications, net of income tax	4,164		139		(13)		4,290
Amounts reclassified from AOCI	30		(2)		—		28
Deferred income tax benefit (expense) (2)	(7)		1		—		(6)
Amounts reclassified from AOCI, net of income tax	23		(1)		—		22
Balance at June 30, 2021	$	4,187	$	138	$	(13)	$	4,312

	Six Months Ended June 30, 2022
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2021	$	3,675	$	233	$	(7)	$	3,901
OCI before reclassifications	(9,091)		282		(32)		(8,841)
Deferred income tax benefit (expense) (2)	1,890		(40)		6		1,856
AOCI before reclassifications, net of income tax	(3,526)		475		(33)		(3,084)
Amounts reclassified from AOCI	102		(7)		—		95
Deferred income tax benefit (expense) (2)	(21)		1		—		(20)
Amounts reclassified from AOCI, net of income tax	81		(6)		—		75
Balance at June 30, 2022	$	(3,445)	$	469	$	(33)	$	(3,009)

	Six Months Ended June 30, 2021
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2020	$	5,321	$	108	$	(8)	$	5,421
OCI before reclassifications	(1,453)		47		(6)		(1,412)
Deferred income tax benefit (expense) (2)	305		(10)		1		296
AOCI before reclassifications, net of income tax	4,173		145		(13)		4,305
Amounts reclassified from AOCI	18		(9)		—		9
Deferred income tax benefit (expense) (2)	(4)		2		—		(2)
Amounts reclassified from AOCI, net of income tax	14		(7)		—		7
Balance at June 30, 2021	$	4,187	$	138	$	(13)	$	4,312

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(1)See Note 4 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI.

(2)The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.

Reclassification out of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Information regarding amounts reclassified out of each component of AOCI was as follows:

AOCI Components	Amounts Reclassified from AOCI								Consolidated Statements of Operations and Comprehensive Income (Loss) Locations
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	(58)	$	(31)	$	(97)	$	(16)	Net investment gains (losses)
Net unrealized investment gains (losses)	(3)		1		(5)		(2)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(61)		(30)		(102)		(18)
Income tax (expense) benefit	12		7		21		4
Net unrealized investment gains (losses), net of income tax	(49)		(23)		(81)		(14)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	3		—		4		1		Net derivative gains (losses)
Interest rate swaps	1		1		2		2		Net investment income
Foreign currency swaps	1		1		1		6		Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax	5		2		7		9
Income tax (expense) benefit	—		(1)		(1)		(2)
Gains (losses) on cash flow hedges, net of income tax	5		1		6		7
Total reclassifications, net of income tax	$	(44)	$	(22)	$	(75)	$	(7)