XML 18 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Total Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net investment income:        
Interest and Dividend Income, Securities, Operating, Available-for-Sale $ 22 $ 13 $ 43 $ 27
Net investment income (loss) 35 (21) 69 (16)
Realized Investment Gains (Losses) (3) 7 (8) 17
Change in fair value of credit derivatives:        
Derivative, Gain (Loss) on Derivative, Net 0 29 (3) 86
Insurance Commissions and Fees 10 6 25 15
Other Operating Income (Expense), Net 2 0 5 3
Income (loss) on variable interest entities 0 (6) (1) 15
Total revenues and other income 62 86 120 206
Policyholder Benefits and Claims Incurred, Net 7 (12) 25 12
Expenses:        
Intangible amortization 7 13 13 28
General and Administrative Expense 36 30 72 59
Interest expense 16 45 32 89
Total expenses 73 80 160 197
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (11) 6 (40) 9
Provision for income taxes 2 1 6 1
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest 0 0 (1) 0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (13) 5 (46) 8
Net income (loss) attributable to common stockholders (13) 5 (47) 7
Other comprehensive income (loss), after tax        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (13) 5 (46) 8
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax (13) (72) 5 (177)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 21 (55) 37 (78)
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, after Tax 0 1 0 1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax 0 0 2 0
Total other comprehensive income (loss), net of income tax 8 (126) 44 (254)
Total comprehensive income (loss), net of income tax (5) (121) (2) (246)
Less: comprehensive (gain) loss attributable to the noncontrolling interest        
Total comprehensive income (loss) attributable to common stockholders (6) (121) (3) (247)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest $ 0 $ 0 $ (1) $ 0
Earnings Per Share, Basic $ (0.29) $ 0.11 $ (1.02) $ 0.15
Earnings Per Share, Diluted $ (0.29) $ 0.11 $ (1.02) $ 0.15
Weighted Average Number of Shares Outstanding, Basic 45,757,234 45,519,093 45,661,288 46,121,927
Weighted Average Number of Shares Outstanding, Diluted 45,757,234 45,685,349 45,661,288 46,310,687
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 15 14 29 28
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset 2 1 4 1
Deferred Policy Acquisition Costs, Amortization Expense 1 0 3 0
General and Administrative Expense 36 30 72 59
Insurance Commissions 6 4 14 8
Net realized gains on extinguishment of debt 0 57 0 57
Unrealized (loss) gain on securities, taxes (3) (2) (1) (4)
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, Tax 0 0 0 0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Plan Amendments, Tax Effect 0 0 0 0
Gain (loss) on foreign currency translation, taxes $ 0 $ 0 $ 0 $ 0