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Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles
 12 Months Ended
Dec. 31, 2024
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]  
Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles
6. Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles
Deferred Policy Acquisition Costs and Value of Business Acquired
See Note 1 for a description of capitalized acquisition costs.
Information regarding DAC and VOBA was as follows:
Variable AnnuitiesFixed Rate AnnuitiesIndex-linked AnnuitiesTerm and Whole Life InsuranceUniversal Life Insurance
(In millions)
DAC:
Balance at January 1, 2022
$2,614 $88 $1,081 $397 $114 
Capitalization54 31 330 (1)10 
Amortization(254)(12)(198)(49)(9)
Balance at December 31, 20222,414 107 1,213 347 115 
Capitalization36 14 344 2 13 
Amortization(233)(11)(225)(43)(9)
Balance at December 31, 20232,217 110 1,332 306 119 
Capitalization
39 8 373 4 13 
Amortization
(216)(3)(243)(39)(10)
Balance at December 31, 2024
$2,040 $115 $1,462 $271 $122 
VOBA:
Balance at January 1, 2022
$377 $70 $— $6 $39 
Amortization(36)(5)— (1)(4)
Balance at December 31, 2022341 65 — 5 35 
Amortization(32)(6)— (1)(4)
Balance at December 31, 2023309 59 — 4 31 
Amortization
(30)(4)— (1)(4)
Balance at December 31, 2024
$279 $55 $— $3 $27 
Total DAC and VOBA:
Balance at December 31, 2024
$2,319 $170 $1,462 $274 $149 
Balance at December 31, 2023$2,526 $169 $1,332 $310 $150 
Balance at December 31, 2022$2,755 $172 $1,213 $352 $150 
Deferred Sales Inducements
Information regarding DSI, included in other assets, was as follows:
December 31,
202420232022
Variable AnnuitiesFixed Rate AnnuitiesVariable AnnuitiesFixed Rate AnnuitiesVariable AnnuitiesFixed Rate Annuities
(In millions)
Balance, beginning of year$209 $8 $233 $9 $259 $10 
Capitalization1 — 1 — 1 — 
Amortization(21)(2)(25)(1)(27)(1)
Balance, end of year$189 $6 $209 $8 $233 $9 
Unearned Revenue
Information regarding unearned revenue, included in other policy-related balances, was as follows:
December 31,
202420232022
Universal Life InsuranceULSGVariable AnnuitiesUniversal Life InsuranceULSGVariable AnnuitiesUniversal Life InsuranceULSGVariable Annuities
(In millions)
Balance, beginning of year$167 $612 $66 $143 $488 $73 $118 $344 $79 
Capitalization34 166 — 35 174 — 35 181 2 
Amortization(11)(63)(7)(11)(50)(7)(10)(37)(8)
Balance, end of year$190 $715 $59 $167 $612 $66 $143 $488 $73