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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Available-for-sale, Debt Securities, Excluding Securities Valued at Fair Value Option $ 19,772 $ 24,360
Fixed maturities, at fair value using the fair value option 1,255 1,253
Equity Securities, FV-NI, Current 133 141
Short-term investments 248 0
Financing Receivable, Allowance for Credit Loss, Current 14 11
Financing Receivable, after Allowance for Credit Loss, Current, Total 4,213 4,222
Policy loans 159 171
Limited partnerships/corporations 1,043 980
Derivatives 322 149
Other Investments 132 143
Total investments 28,069 32,218
Cash and cash equivalents 220 436
Short-term investments under securities loan agreements, including collateral delivered 939 808
Accrued investment income 289 285
Premiums and Other Receivables, Net 3,423  
Reinsurance Recoverable, Allowance for Credit Loss 6 0
Reinsurance recoverable, net of allowance for credit losses   3,598
Deferred policy acquisition costs and Value of business acquired 1,539 409
Short-term loan to affiliate 0 130
Deferred Income Tax Assets, Net 561 0
Due from affiliates 46 70
Allowance for Credit Loss, Receivable, Other, Current 3 0
Other assets (net of allowance for credit loss of $3 as of 2022 and $0 as of 2021) 1,609 1,720
Separate Account Asset 77,639 96,964
Total assets 114,334 136,638
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 33,257 32,926
Payables under securities loan agreements, including collateral held 921 811
Due to affiliates 134 110
Derivatives 331 144
Deferred Income Tax Liabilities, Net 0 227
Other liabilities 322 426
Liabilities related to separate accounts 77,639 96,964
Total liabilities 112,604 131,608
Commitments and Contingencies (Note 12)
Shareholder's equity:    
Common Stock, Value, Issued 3 3
Additional paid-in capital 2,778 3,191
Accumulated other comprehensive income (loss) (1,353) 1,423
Retained earnings (deficit) 302 413
Total shareholder's equity 1,730 5,030
Total liabilities and shareholder's equity 114,334 136,638
Fixed maturities, allowance for credit losses 7 48
Collateral Pledged    
Investments:    
Debt Securities, Available-for-Sale, Restricted $ 792 $ 799