XML 56 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Summary Of Income Tax Expense (benefit)
A summary of the income tax (expense) benefit in the statements of income (loss) follows:
Year Ended December 31,
 202120202019
(in millions)
Income tax (expense) benefit:
Current (expense) benefit$— $40 $(1)
Deferred (expense) benefit5 (11)14 
Total$5 $29 $13 
Schedule Of Effective Income Tax Rate Reconciliation The sources of the difference and their tax effects are as follows:
Year Ended December 31,
202120202019
(in millions)
Expected income tax (expense) benefit$4 $8 $12 
Non-taxable investment income 1 1 1 
Tax settlements/uncertain tax position release— 8 
Change in tax law— 12 
Income tax (expense) benefit$5 $29 $13 
Schedule Of Net Deferred Income Taxes
The components of the net deferred income taxes are as follows:
December 31,
 20212020
 AssetsLiabilities AssetsLiabilities
(in millions)
Net operating loss and credits24 — 7 — 
Reserves and reinsurance193 — 189 — 
DAC— 66 — 43 
Unrealized investment gains (losses)— 27 — 52 
Investments— 131 — 128 
Other24 — 24 — 
Total$241 $224 $220 $223 
Unrecognized Tax Benefits Reconciliation A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:
Year Ended December 31,
 202120202019
(in millions)
Balance at January 1,$1 $4 $4 
Additions for tax positions of prior years— — — 
Reductions for tax positions of prior years— (3)— 
Additions for tax positions of current year— — — 
Settlements with tax authorities— — — 
Balance at December 31,$1 $1 $4 
Unrecognized tax benefits that, if recognized, would impact the effective rate$1 $1 $4