Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	December 31, 2024		December 31, 2023		December 31, 2022
Fixed maturities, net of impairment	$	(1,995)	$	(1,827)	$	(2,544)

Derivatives(1)	56		57		111




Change in current discount rate	(306)		(335)		(349)
Deferred income tax asset (liability)(2)	600		571		712
Total	(1,645)		(1,534)		(2,070)
Pension and other postretirement benefits liability, net of tax	1		3		3
AOCI	$	(1,644)	$	(1,531)	$	(2,067)

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, 2024
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	(170)		$	35	$	(135)



Adjustments for amounts recognized in Net gains (losses) in the Consolidated Statements of Operations	1			—		1


Change in unrealized gains (losses) on available-for-sale securities	(169)			35		(134)

Derivatives:
Derivatives	14		(1)	(3)		11
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations	(15)			3		(12)
Change in unrealized gains (losses) on derivatives	(1)			—		(1)

Change in current discount rate	28			(6)		22



Change in AOCI	$	(142)		$	29	$	(113)

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


	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 AOCI	$	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 AOCI	$	(4,594)		$	965	$	(3,629)

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