XML 18 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Total Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net investment income:        
Securities available-for-sale and short-term $ 17 $ 15 $ 44 $ 59
Net investment income (loss) 11 21 (6) 112
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments     31 4
Realized Investment Gains (Losses) 14 3 31 4
Change in fair value of credit derivatives:        
Derivative, Gain (Loss) on Derivative, Net 37 5 124 19
Net realized gains (losses) on extinguishment of debt 0 0 57 33
Insurance Commissions and Fees 7 7 22 20
Other Operating Income (Expense), Net 1 1 5 0
Income (loss) on variable interest entities (1) 3 14 5
Total revenues 80 51 286 229
Policyholder Benefits and Claims Incurred, Net (353) (55) (341) (73)
Expenses:        
Intangible amortization 6 11 34 44
Operating Expenses 37 32 104 94
Interest expense 49 44 138 144
Total expenses (262) 32 (66) 208
Pretax income 342 19 352 21
Provision for income taxes 2 2 4 15
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest   0 (1) (1)
Net income 340 17 348 6
Net income attributable to common stockholders 340 17 347 5
Other comprehensive income (loss), after tax        
Net income 340 17 348 6
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax (59) (4) (236) (2)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (58) (19) (136) (11)
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, after Tax (1) 0 0 (1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax 0 0 (1) (1)
Total other comprehensive income (loss), net of income tax (118) (23) (372) (15)
Total comprehensive income (loss), net of income tax 222 (6) (24) (9)
Less: comprehensive (gain) loss attributable to the noncontrolling interest        
Total comprehensive income (loss) attributable to common stockholders 222 (6) (25) (10)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest $ 0 $ 0 $ (1) $ (1)
Earnings Per Share, Basic $ 7.50 $ 0.35 $ 7.56 $ (0.19)
Earnings Per Share, Diluted $ 7.41 $ 0.35 $ 7.48 $ (0.19)
Weighted Average Number of Shares Outstanding, Basic 45,307,019 46,615,552 45,847,306 46,503,196
Weighted Average Number of Shares Outstanding, Diluted 45,846,405 47,044,132 46,356,094 46,503,196
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, Tax $ 0 $ 0 $ 0 $ 0
Gain (loss) on foreign currency translation, taxes 0 0 0 0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Plan Amendments, Tax Effect 0 0 0 0
Premiums Earned, Net 11 11 39 36
Unrealized (loss) gain on securities, taxes $ (3) $ 0 $ (8) $ (2)