Equity (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at June 30, 2023	$	(5,535)	$	423	$	(1,475)	$	902	$	(16)	$	(5,701)
OCI before reclassifications	(2,390)		(32)		175		742		(12)		(1,517)
Deferred income tax benefit (expense) (2)	501		7		(37)		(156)		3		318
AOCI before reclassifications, net of income tax	(7,424)		398		(1,337)		1,488		(25)		(6,900)
Amounts reclassified from AOCI	44		(2)		—		—		—		42
Deferred income tax benefit (expense) (2)	(9)		—		—		—		—		(9)
Amounts reclassified from AOCI, net of income tax	35		(2)		—		—		—		33



Balance at September 30, 2023	$	(7,389)	$	396	$	(1,337)	$	1,488	$	(25)	$	(6,867)


	Three Months Ended September 30, 2022
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at June 30, 2022	$	(3,638)	$	523	$	(1,348)	$	440	$	(33)	$	(4,056)
OCI before reclassifications	(4,988)		331		130		1,041		(24)		(3,510)
Deferred income tax benefit (expense) (2)	1,175		(197)		(27)		(218)		6		739
AOCI before reclassifications, net of income tax	(7,451)		657		(1,245)		1,263		(51)		(6,827)
Amounts reclassified from AOCI	45		(9)		—		—		—		36
Deferred income tax benefit (expense) (2)	(10)		2		—		—		—		(8)
Amounts reclassified from AOCI, net of income tax	35		(7)		—		—		—		28



Balance at September 30, 2022	$	(7,416)	$	650	$	(1,245)	$	1,263	$	(51)	$	(6,799)


	Nine Months Ended September 30, 2023
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2022	$	(6,041)	$	496	$	(1,377)	$	1,016	$	(25)	$	(5,931)
OCI before reclassifications	(1,874)		(121)		51		598		—		(1,346)
Deferred income tax benefit (expense) (2)	393		26		(11)		(126)		—		282
AOCI before reclassifications, net of income tax	(7,522)		401		(1,337)		1,488		(25)		(6,995)
Amounts reclassified from AOCI	168		(6)		—		—		—		162
Deferred income tax benefit (expense) (2)	(35)		1		—		—		—		(34)
Amounts reclassified from AOCI, net of income tax	133		(5)		—		—		—		128



Balance at September 30, 2023	$	(7,389)	$	396	$	(1,337)	$	1,488	$	(25)	$	(6,867)


	Nine Months Ended September 30, 2022
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2021	$	4,996	$	233	$	(3,229)	$	(2,192)	$	(7)	$	(199)
OCI before reclassifications	(15,927)		613		2,511		4,373		(56)		(8,486)
Deferred income tax benefit (expense) (2)	3,399		(183)		(527)		(918)		12		1,783
AOCI before reclassifications, net of income tax	(7,532)		663		(1,245)		1,263		(51)		(6,902)
Amounts reclassified from AOCI	147		(16)		—		—		—		131
Deferred income tax benefit (expense) (2)	(31)		3		—		—		—		(28)
Amounts reclassified from AOCI, net of income tax	116		(13)		—		—		—		103



Balance at September 30, 2022	$	(7,416)	$	650	$	(1,245)	$	1,263	$	(51)	$	(6,799)

_______________

(1)See Note 6 for information on offsets to investments related to future policy benefits.

(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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	(43)	$	(36)	$	(159)	$	(133)	Net investment gains (losses)

Net unrealized investment gains (losses)	(1)		(9)		(9)		(14)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(44)		(45)		(168)		(147)
Income tax (expense) benefit	9		10		35		31
Net unrealized investment gains (losses), net of income tax	(35)		(35)		(133)		(116)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	—		—		(2)		4		Net derivative gains (losses)
Interest rate swaps	1		1		3		3		Net investment income


Foreign currency swaps	1		8		5		9		Net derivative gains (losses)


Gains (losses) on cash flow hedges, before income tax	2		9		6		16
Income tax (expense) benefit	—		(2)		(1)		(3)
Gains (losses) on cash flow hedges, net of income tax	2		7		5		13
Total reclassifications, net of income tax	$	(33)	$	(28)	$	(128)	$	(103)