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Business and Basis of Presentation (Summary of Adoption of New Guidance on Consolidated Statement of Operations) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES      
Premiums $ 328,897 $ 265,208 [1] $ 184,458 [1]
Policy charges and fee income 1,536,606 1,230,601 [1] 1,300,095 [1]
Other Income (loss) 744,628 (651,469) [1] 262,420 [1]
Realized investment gains (losses), net (1,083,660) 336,382 [2] (386,894) [1]
Change in value of market risk benefits, net of related hedging gain (losses) (94,368) (700,581) [1] (4,222,530) [2]
TOTAL REVENUES 3,340,575 1,648,324 (2,110,039)
BENEFITS AND EXPENSES      
Policyholders’ benefits 503,789 458,373 [1] 82,710 [1]
Change in estimates of liability for future policy benefits 3,952 55,099 27,008
Interest credited to policyholders’ account balances 655,445 445,215 [1]  
Interest credited to policyholders’ account balances [1]     (151,389)
Amortization of deferred policy acquisition costs 534,435 520,276 [1] 325,595 [1]
General, administrative and other expenses 1,151,452 1,156,464 [1]  
General, administrative and other expenses [1]     (523,774)
TOTAL BENEFITS AND EXPENSES     (239,850)
TOTAL BENEFITS AND EXPENSES 2,849,073 2,635,427  
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE 491,502 (987,103) (1,870,189)
Income tax expense (benefit) 29,378 (295,535) [1] (474,786) [1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 462,124 (691,568) (1,395,403)
NET INCOME (LOSS) 461,691 (766,705) [2] (1,394,701) [2]
Other comprehensive income (loss), before tax:      
Net unrealized investment gains (losses)   (2,254,037) (210,486)
Interest rate remeasurement of future policy benefits   310,353 37,274
Gain (loss) from changes in non-performance risk on market risk benefits   1,440,305 (435,232)
Total (26,482) (512,716) (612,335)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (5,627) (106,197) (128,241)
Other comprehensive income (loss), net of taxes (20,855) (406,519) (484,094)
Total Comprehensive Income (Loss) $ 440,348 (1,173,224) (1,878,795)
As Originally Reported      
REVENUES      
Premiums   274,783 203,676
Policy charges and fee income   1,731,957 1,529,757
Other Income (loss)   (661,860) 267,208
Realized investment gains (losses), net   1,041,435 (5,295,406)
Change in value of market risk benefits, net of related hedging gain (losses)   0 0
TOTAL REVENUES   3,554,498 (2,542,353)
BENEFITS AND EXPENSES      
Policyholders’ benefits   609,392 655,910
Change in estimates of liability for future policy benefits   0 0
Interest credited to policyholders’ account balances   517,488  
Interest credited to policyholders’ account balances     (114,585)
Amortization of deferred policy acquisition costs   857,385 342,118
General, administrative and other expenses   1,154,229  
General, administrative and other expenses     (523,925)
TOTAL BENEFITS AND EXPENSES   3,138,494 359,518
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE   416,004 (2,901,871)
Income tax expense (benefit)   (882) (691,439)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE   416,886 (2,210,432)
NET INCOME (LOSS)   341,749 (2,209,730)
Other comprehensive income (loss), before tax:      
Net unrealized investment gains (losses)   (2,430,238) (247,176)
Interest rate remeasurement of future policy benefits   0 0
Gain (loss) from changes in non-performance risk on market risk benefits   0 0
Total   (2,439,575) (251,067)
Less: Income tax expense (benefit) related to other comprehensive income (loss)   (510,840) (52,374)
Other comprehensive income (loss), net of taxes   (1,928,735) (198,693)
Total Comprehensive Income (Loss)   (1,586,986) (2,408,423)
Effect of Change      
REVENUES      
Premiums   (9,575) (19,218)
Policy charges and fee income   (501,356) (229,662)
Other Income (loss)   10,391 (4,788)
Realized investment gains (losses), net   (705,053) 4,908,512
Change in value of market risk benefits, net of related hedging gain (losses)   (700,581) (4,222,530)
TOTAL REVENUES   (1,906,174) 432,314
BENEFITS AND EXPENSES      
Policyholders’ benefits   (151,019) (573,200)
Change in estimates of liability for future policy benefits   55,099 27,008
Interest credited to policyholders’ account balances   (72,273)  
Interest credited to policyholders’ account balances     (36,804)
Amortization of deferred policy acquisition costs   (337,109) (16,523)
General, administrative and other expenses   2,235  
General, administrative and other expenses     151
TOTAL BENEFITS AND EXPENSES   (503,067) (599,368)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE   (1,403,107) 1,031,682
Income tax expense (benefit)   (294,653) 216,653
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE   (1,108,454) 815,029
NET INCOME (LOSS)   (1,108,454) 815,029
Other comprehensive income (loss), before tax:      
Net unrealized investment gains (losses)   176,201 36,690
Interest rate remeasurement of future policy benefits   310,353 37,274
Gain (loss) from changes in non-performance risk on market risk benefits   1,440,305 (435,232)
Total   1,926,859 (361,268)
Less: Income tax expense (benefit) related to other comprehensive income (loss)   404,643 (75,867)
Other comprehensive income (loss), net of taxes   1,522,216 (285,401)
Total Comprehensive Income (Loss)   $ 413,762 $ 529,628
[1] Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
[2] Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.