Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles

12 Months Ended

Dec. 31, 2022

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Intangible Assets Disclosure [Text Block]

4. Deferred Policy Acquisition Costs, Value of Business Acquired and Deferred Sales Inducements

See Note 1 for a description of capitalized acquisition costs.

Information regarding DAC and VOBA was as follows:

	Years Ended December 31,
	2022		2021		2020
	(In millions)
DAC:
Balance at January 1,	$	4,339	$	3,870	$	4,327
Capitalizations	425		492		406
Amortization related to net investment gains (losses) and net derivative gains (losses)	(381)		68		105
All other amortization	(427)		(179)		(776)
Total amortization	(808)		(111)		(671)
Unrealized investment gains (losses)	655		88		(192)
Balance at December 31,	4,611		4,339		3,870
VOBA:
Balance at January 1,	512		487		482
Amortization	(63)		6		(25)
Unrealized investment gains (losses)	124		19		30
Balance at December 31,	573		512		487
Total DAC and VOBA:
Balance at December 31,	$	5,184	$	4,851	$	4,357

The estimated future VOBA amortization expense to be reported in other expenses for the next five years is $58 million in 2023, $52 million in 2024, $46 million in 2025, $41 million in 2026 and $37 million in 2027.

Information regarding DSI was as follows:

	Years Ended December 31,
	2022		2021		2020
	(In millions)
DSI:
Balance at January 1,	$	293	$	295	$	362
Capitalization	1		1		2
Amortization	(15)		(3)		(69)
Balance at December 31,	$	279	$	293	$	295