EQUITY (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of December 31, 2021, 2020, and 2019 follow:

	December 31,
	2021		2020
	(in millions)
Unrealized gains (losses) on investments	$	86	$	138
Accumulated other comprehensive income (loss)	$	86	$	138

Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The components of OCI, net of taxes for the years ended December 31, 2021, 2020 and 2019, follow:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period	$	(90)	$	117	$	125
(Gains) losses reclassified into net income (loss) during the period (1)	(5)		(1)		—
Net unrealized gains (losses) on investments	(95)		116		125
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	43		(26)		(65)
Other comprehensive income (loss), net of adjustments (net of deferred income tax expense (benefit) of, $(13), $24, and $16)	(52)		90		60
Other comprehensive income (loss)	$	(52)	$	90	$	60

____________

(1)See “Reclassification adjustment” in Note 3 of the Notes to these Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $1 million, $0 million, and $0 million for the years ended December 31, 2021, 2020 and 2019, respectively.