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Consolidated Statements of Financial Position - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2022 – $4,769; 2021 – $4,149) (amortized cost: 2022 – $21,311,087; 2021 – $12,737,749) $ 19,025,401 $ 13,278,166
Fixed maturities, trading, at fair value (amortized cost: 2022 – $2,682,022; 2021 – $3,319,660) 1,936,159 3,302,392
Equity securities, at fair value (cost: 2021 – $106,174; 2020 – $105,508) 143,072 111,267
Policy loans 505,367 1,327,485
Short-term investments 124,491 182,437
Commercial mortgage and other loans (net of $20,263 and $5,951 allowance for credit losses at December 31, 2022 and December 31, 2021, respectively) 4,928,680 2,832,560
Other invested assets (includes $116,110 and $348,004 of assets measured at fair value at December 31, 2022 and 2021, respectively) 1,088,613 1,209,925
Total investments 27,751,783 22,244,232
Cash and cash equivalents 2,397,627 918,931
Deferred policy acquisition costs [1] 6,930,425 7,029,308
Accrued investment income 219,635 160,027
Reinsurance recoverables [1] 37,096,562 40,444,196
Receivables from parent and affiliates 224,921 278,131
Deferred sales inducements [1] 381,504 414,619
Income taxes receivable [1] 1,694,751 1,247,860
Market risk benefits assets [1] 1,393,237 1,786,565
Other Assets [1] 1,331,427 1,381,829
Separate account assets 114,051,246 149,797,828
TOTAL ASSETS 193,473,118 225,703,526
LIABILITIES    
Policyholders' account balances [1] 41,912,536 35,730,680
Future policy benefits [1] 20,829,033 21,510,749
Market risk benefit liabilities [1] 5,521,601 9,764,443
Cash collateral for loaned securities 86,750 3,004
Short-term debt to affiliates 126,250 0
Long-term debt to affiliates 185,563 320,362
Due to Affiliate 2,126,571 31,775
Other Liabilities [1] 3,597,373 2,330,689
Balance, end of period 114,051,246 149,797,828
Total liabilities 188,436,923 219,489,530
Commitments and Contingent Liabilities
EQUITY    
Common stock ($10 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding) 2,500 2,500
Additional paid-in capital 6,037,914 6,042,491
Retained earnings / (accumulated deficit) [1] (994,154) (227,449)
Accumulated other comprehensive income (loss) [1] (10,065) 396,454
Total equity 5,036,195 6,213,996
Total liabilities and partners’ capital $ 193,473,118 $ 225,703,526
[1] Amounts adjusted for the implementation of Accounting Standards Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.