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Condensed Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Net investment income $ 1,949,000,000 $ 1,858,000,000 $ 1,689,000,000
Fee income 1,088,000,000 905,000,000 877,000,000
Premiums (2,425,000,000) 32,000,000 31,000,000
Broker-dealer commission revenue 2,000,000 2,000,000 2,000,000
Net realized capital gains (losses):      
Total impairments (2,000,000) (37,000,000) (41,000,000)
Less: Portion of impairments recognized in Other comprehensive income (loss) 0 0 2,000,000
Net impairments recognized in earnings 2,000,000 37,000,000 43,000,000
Other net gains (losses) 168,000,000 (273,000,000) (101,000,000)
Total net gains (losses) 166,000,000 (310,000,000) (144,000,000)
Other revenue 38,000,000 (1,000,000) 14,000,000
Total revenues 818,000,000 2,486,000,000 2,469,000,000
Benefits and expenses:      
Interest credited and other benefits to contract owners/policyholders (1,483,000,000) 1,049,000,000 1,013,000,000
Operating expenses 1,213,000,000 1,090,000,000 1,056,000,000
Broker-dealer commission expense 2,000,000 2,000,000 2,000,000
Net amortization of Deferred policy acquisition costs and Value of business acquired 97,000,000 192,000,000 65,000,000
Interest expense 0 1,000,000 1,000,000
Total benefits and expenses (171,000,000) 2,334,000,000 2,137,000,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 989,000,000 152,000,000 332,000,000
Income tax expense (benefit) 163,000,000 (14,000,000) 32,000,000
Net income (loss) $ 826,000,000 $ 166,000,000 $ 300,000,000