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Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Equity EQUITY
Accumulated Other Comprehensive Income (Loss)
AOCI represents the cumulative OCI items that are reported separate from net income and detailed on the Consolidated Statements of Comprehensive Income. Net unrealized investment gains (losses) are described in further detail in Note 2. The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows:
 Accumulated Other Comprehensive Income (Loss)
 Foreign Currency
Translation
Adjustment		Net Unrealized
Investment Gains
(Losses)(1)		Total Accumulated
Other
Comprehensive
Income (Loss)
 (in thousands)
Balance, December 31, 2018$(17,448)$(10,848)$(28,296)
Change in OCI before reclassifications9,572 435,919 445,491 
Amounts reclassified from AOCI0 (54,472)(54,472)
Income tax benefit (expense)(41)(81,240)(81,281)
Balance, December 31, 2019(7,917)289,359 281,442 
Change in OCI before reclassifications599 327,819 328,418 
Amounts reclassified from AOCI0 7,074 7,074 
Income tax benefit (expense)(479)(70,327)(70,806)
Balance, December 31, 2020(7,797)553,925 546,128 
Change in OCI before reclassifications(3,891)(222,182)(226,073)
Amounts reclassified from AOCI0 (24,994)(24,994)
Income tax benefit (expense)414 51,960 52,374 
Balance, December 31, 2021$(11,274)$358,709 $347,435 
(1)Includes cash flow hedges of $40 million, $(8) million, and $26 million as of December 31, 2021, 2020 and 2019, respectively.

Reclassifications out of Accumulated Other Comprehensive Income (Loss) 
Year Ended December 31,
202120202019
 (in thousands)
Amounts reclassified from AOCI(1)(2):
Net unrealized investment gains (losses):
Cash flow hedges—Currency/Interest rate(3)$28,508 $162 $7,734 
Net unrealized investment gains (losses) on available-for-sale securities(4)(3,514)(7,236)46,738 
Total net unrealized investment gains (losses)24,994 (7,074)54,472 
Total reclassifications for the period$24,994 $(7,074)$54,472 
(1)All amounts are shown before tax.
(2)Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI.
(3)See Note 4 for additional information on cash flow hedges.
(4)See table below for additional information on unrealized investment gains (losses), including the impact on DAC and other costs, future policy benefits, policyholders’ account balances and other liabilities.
Net Unrealized Investment Gains (Losses)
Net unrealized investment gains (losses) on available-for-sale fixed maturity securities and certain other invested assets and other assets are included in the Company’s Consolidated Statements of Financial Position as a component of AOCI. Changes in these amounts include reclassification adjustments to exclude from OCI those items that are included as part of “Net income” (loss) for a period that had been part of OCI in earlier periods. The amounts for the periods indicated below, split between amounts related to available-for-sale fixed maturity securities on which an OTTI had been previously recognized, an allowance for credit losses has been recorded, and all other net unrealized investment gains (losses), are as follows:
Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturity Securities on which an OTTI Loss has been RecognizedNet Unrealized Gains (Losses) on Investments on Available-for-Sale Fixed Maturity Securities on which an allowance for credit losses has been recorded(1)Net Unrealized Gains (Losses) on All Other Investments(3)DAC and
Other Costs(4)		Future Policy
Benefits, Policyholders' Account Balances and Other Liabilities(5)
Income Tax
Benefit (Expense)		Accumulated
Other
Comprehensive
Income (Loss)
Related to Net
Unrealized
Investment
Gains (Losses)
 (in thousands)
Balance, December 31, 2018$(689)$0 $(16,632)$(65,895)$68,042 $4,326 $(10,848)
Net unrealized investment gains (losses) on investments arising during the period2,112 0 494,861 0 0 (105,845)391,128 
Reclassification adjustment for (gains) losses included in net income210 0 (54,682)0 0 11,601 (42,871)
Reclassification adjustment for OTTI losses excluded from net income(2)(65)0 65 0 0 0 0 
Impact of net unrealized investment
(gains) losses		0 0 0 489,122 (550,176)13,004 (48,050)
Balance, December 31, 20191,568 0 423,612 423,227 (482,134)(76,914)289,359 
Reclassification due to implementation of ASU 2016-13 (6)(1,568)0 1,568 0 0 0 0 
Net unrealized investment gains (losses) on investments arising during the period0 616 416,479 0 0 (87,588)329,507 
Reclassification adjustment for (gains) losses included in net income0 0 7,074 0 0 (1,486)5,588 
Reclassification due to allowance for credit losses recorded during the period0 (616)616 0 0 0 0 
Impact of net unrealized investment
(gains) losses		0 0 0 776,821 (866,097)18,747 (70,529)
Balance, December 31, 20200 0 849,349 1,200,048 (1,348,231)(147,241)553,925 
Net unrealized investment gains (losses) on investments arising during the period0 2,951 (240,917)0 0 50,016 (187,950)
Reclassification adjustment for (gains) losses included in net income0 (8)(24,986)0 0 5,277 (19,717)
Reclassification due to allowance for credit losses recorded during the period0 742 (742)0 0 0 0 
Impact of net unrealized investment
(gains) losses		0 0 0 (216,963)232,747 (3,333)12,451 
Balance, December 31, 2021$0 $3,685 $582,704 $983,085 $(1,115,484)$(95,281)$358,709 
(1)Allowance for credit losses on available-for-sale fixed maturity securities effective January 1, 2020.
(2)Represents "transfers out" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss.
(3)Includes cash flow hedges. See Note 4 for information on cash flow hedges.
(4)"Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses.
(5)"Other liabilities" primarily includes reinsurance payables.
(6)Represents net unrealized gains (losses) for which an OTTI had been previously recognized.