Intangible Assets (Notes)

6 Months Ended

Jun. 30, 2021

Statement of Financial Position [Abstract]

Intangible Assets Disclosure [Text Block]

7. INTANGIBLE ASSETS

Insurance intangible asset:

The insurance intangible asset and accumulated amortization are included in the Consolidated Balance Sheets, as shown below.

	June 30, 2021		December 31, 2020
Gross carrying value of insurance intangible asset	$	1,283	$	1,281
Accumulated amortization of insurance intangible asset	940		908
Net insurance intangible asset	$	343	373

Other Intangible Assets:

In connection with the acquisition of Xchange the fair value of identifiable intangible assets were recorded. The majority of these intangible assets relate to existing relationships Xchange maintained with a variety of brokers and distributors across its product lines. The gross carrying value of the identifiable intangibles, accumulated amortization and net identifiable intangibles is $36, $1 and $34, respectively at June 30, 2021 and $36, $— and $36, respectively at December 31, 2020.

Amortization Expense:

Amortization expense is included in the Consolidated Statements of Total Comprehensive Income (Loss), as shown below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Insurance amortization expense	$	13	$	14	$	31	$	27
Other amortization expense	1		—		1		—
Total	$	14	$	14	$	33	$	27

The estimated future amortization expense for intangible assets is as follows:

Amortization expense	Insurance Intangible Asset (1) (2)		Other Intangible Assets		Total
2021 (Six months)	$	19	$	1	$	20
2022	34		3		37
2023	31		3		34
2024	28		3		31
2025	26		3		28
Thereafter	205		22		228

(1)The insurance intangible asset will be amortized using a level-yield method based on par exposure of the related financial guarantee insurance or reinsurance contracts. Future amortization considers the use of contractual lives for many bond types which do not have homogeneous pools of underlying collateral. Actual maturities will differ from contractual maturities because borrowers have the right to call or prepay certain obligations. If those obligations are retired early, amortization expense may differ in the period of call or refinancing. from the amounts provided in the table above.

(2)The weighted-average insurance intangible amortization and other intangible amortization periods are 7.4 years and 6.7 years, respectively.