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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Net investment income $ 384,000,000 $ 366,000,000 $ 1,155,000,000 $ 1,235,000,000
Fee income 254,000,000 237,000,000 738,000,000 746,000,000
Premiums 15,000,000 2,000,000 24,000,000 10,000,000
Other revenue 2,000,000 8,000,000 12,000,000 37,000,000
Total revenues 591,000,000 544,000,000 1,787,000,000 1,641,000,000
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 261,000,000 174,000,000 623,000,000 553,000,000
Operating expenses 269,000,000 269,000,000 851,000,000 869,000,000
Net amortization of Deferred policy acquisition costs and Value of business acquired 19,000,000 21,000,000 58,000,000 62,000,000
Total benefits and expenses 550,000,000 465,000,000 1,534,000,000 1,485,000,000
Income tax expense (benefit) (29,000,000) 5,000,000 (7,000,000) (2,000,000)
Net income (loss) 70,000,000 74,000,000 260,000,000 158,000,000
Net investment income 384,000,000 366,000,000 1,155,000,000 1,235,000,000
Fee income 254,000,000 237,000,000 738,000,000 746,000,000
Premiums 15,000,000 2,000,000 24,000,000 10,000,000
Realized capital gains (losses) (64,000,000) (69,000,000) (142,000,000) (387,000,000)
Other revenue 2,000,000 8,000,000 12,000,000 37,000,000
Revenues 591,000,000 544,000,000 1,787,000,000 1,641,000,000
Interest credited and other benefits to contract owners/policyholders 261,000,000 174,000,000 623,000,000 553,000,000
Operating expenses 269,000,000 269,000,000 851,000,000 869,000,000
Net amortization of Deferred policy acquisition costs and Value of business acquired 19,000,000 21,000,000 58,000,000 62,000,000
Interest Expense 1,000,000 1,000,000 2,000,000 1,000,000
Benefits, Losses and Expenses 550,000,000 465,000,000 1,534,000,000 1,485,000,000
Income tax expense (benefit) (29,000,000) 5,000,000 (7,000,000) (2,000,000)
Net income (loss) 70,000,000 74,000,000 260,000,000 158,000,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 41,000,000 $ 79,000,000 $ 253,000,000 $ 156,000,000