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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The notional amounts and fair values of derivatives were as follows as of the dates indicated:
December 31, 2023December 31, 2022
Notional
Amount		Asset
Fair Value		Liability
Fair Value		Notional
Amount		Asset
Fair Value		Liability
Fair Value
Derivatives: Qualifying for hedge accounting(1)
Cash flow hedges:
Interest rate contracts$10 $— $— $18 $— $— 
Foreign exchange contracts597 27 6 596 58 2 
Derivatives: Non-qualifying for hedge accounting(1)
Interest rate contracts11,125 186 290 12,470 262 327 
Foreign exchange contracts66 — 2 45 2 — 
Credit contracts101 — 1 141 — 2 
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments(2)
N/A1 — N/A2 — 
Managed custody guarantees(3)
N/A— 8 N/A— 6 
Stabilizers(3)
N/A— 1 N/A— — 
Total$214 $308 $324 $337 
(1) Open derivative contracts are reported as Derivatives assets or liabilities at fair value on the Consolidated Balance Sheets at fair value.
(2) Included in Fixed maturities, available-for-sale, at fair value on the Consolidated Balance Sheets.
(3) Included in Future policy benefits and contract owner account balances on the Consolidated Balance Sheets.
N/A - Not applicable
Offsetting Assets and Liabilities
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The location and effect of derivatives qualifying for hedge accounting on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income are as follows for the periods indicated:
Year Ended December 31,
202320222021
Interest Rate ContractsForeign Exchange ContractsInterest Rate ContractsForeign Exchange ContractsInterest Rate ContractsForeign Exchange Contracts
Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into IncomeNet investment income
Net investment income and Net gains (losses)
Net investment income
Net investment income and Net gains (losses)
Net investment income
Net investment income and Net gains (losses)
Amount of Gain or (Loss) Recognized in Other Comprehensive Income$— $(36)$(2)$58 $(1)$33 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income— 8 — 9 — 3 

The location and amount of gain (loss) recognized in the Consolidated Statements of Operations for derivatives qualifying for hedge accounting are as follows for the periods indicated:
Year Ended December 31,
202320222021
Net investment income
Net gains (losses)
Net investment income
Net gains (losses)
Net investment income
Net gains (losses)
Total amounts of line items presented in the statements of operations in which the effects of cash flow hedges are recorded
$1,523 $(134)$1,619 $(429)$1,949 $166 
Cash flow hedges:
Foreign exchange contracts:
Gain (loss) reclassified from accumulated other comprehensive income into income
8 — 9 — 8 (5)
The location and effect of derivatives not designated as hedging instruments on the Consolidated Statements of Operations areas follows for the periods indicated:
Location of Gain (Loss) Recognized on Derivative
Year Ended December 31,
202320222021
Derivatives: Non-qualifying for hedge accounting
Interest rate contractsNet gains (losses)$10 $184 $(16)
Foreign exchange contracts
Net gains (losses)(1)4 1 
Credit contracts
Net gains (losses)2 (3)2 
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments
Net gains (losses)(1)(5)(4)
Managed custody guaranteesNet gains (losses)(2)(5)4 
StabilizersNet gains (losses)(1)19 30 
Total
$7 $194 $17