Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accumulated Other Comprehensive Income (Loss)

Shareholder's equity included the following components of AOCI as of the dates indicated.


	December 31,
	2023		2022		2021(2)
Fixed maturities, net of impairment	$	(1,827)	$	(2,544)	$	2,126

Derivatives(1)	57		111		77




Change in current discount rate	(335)		(349)		(391)
Deferred income tax asset (liability)	571		712		(253)
Total	(1,534)		(2,070)		1,559
Pension and other postretirement benefits liability, net of tax	3		3		3
AOCI	$	(1,531)	$	(2,067)	$	1,562

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in AOCI, including the reclassification adjustments recognized in the Consolidated Statements of Operations were as follows for the periods indicated:


	Year Ended December 31, 2023
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	694		$	(146)	$	548



Adjustments for amounts recognized in Net gains (losses) in the Consolidated Statements of Operations	21			(4)		17


Change in unrealized gains (losses) on available-for-sale securities	715			(150)		565

Derivatives:
Derivatives	(36)		(1)	8		(28)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations	(18)			4		(14)
Change in unrealized gains (losses) on derivatives	(54)			12		(42)

Change in current discount rate	16			(3)		13



Change in Accumulated other comprehensive income (loss)	$	677		$	(141)	$	536

(1) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information


	Year Ended December 31, 2022
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	(4,731)		$	994	$	(3,737)



Adjustments for amounts recognized in Net gains (losses) in the Consolidated Statements of Operations	62			(13)		49


Change in unrealized gains (losses) on available-for-sale securities	(4,669)			981		(3,688)

Derivatives:
Derivatives	54		(1)	(11)		43
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations	(20)			4		(16)
Change in unrealized gains (losses) on derivatives	34			(7)		27

Change in current discount rate	41			(9)		32



Change in Accumulated other comprehensive income (loss)	$	(4,594)		$	965	$	(3,629)

(1) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information.


	Year Ended December 31, 2021
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	(755)		$	159	$	(596)

Other	(2)			—		(2)

Adjustments for amounts recognized in Net gains (losses) in the Consolidated Statements of Operations	(549)			115		(434)


Change in unrealized gains (losses) on available-for-sale securities	(1,306)			274		(1,032)

Derivatives:
Derivatives	25		(1)	(5)		20
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations	(21)			4		(17)
Change in unrealized gains (losses) on derivatives	4			(1)		3

Change in current discount rate	39			(8)		31
Pension and other postretirement benefits liability:
Amortization of prior service cost recognized in Operating expenses in the Consolidated Statements of Operations	(1)		(2)	—		(1)
Change in pension and other postretirement benefits liability	(1)			—		(1)
Change in Accumulated other comprehensive income (loss)	$	(1,264)		$	265	$	(999)

(1) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information