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Consolidated Statements of Total Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net investment income:        
Interest and Dividend Income, Securities, Operating, Available-for-Sale $ 24 $ 17 $ 67 $ 44
Net investment income (loss) 30 11 100 (6)
Realized Investment Gains (Losses) 1 14 (7) 31
Change in fair value of credit derivatives:        
Derivative, Gain (Loss) on Derivative, Net 4 37 1 124
Insurance Commissions and Fees 15 7 39 22
Other Operating Income (Expense), Net 2 0 7 3
Income (loss) on variable interest entities 1 (1) 0 14
Total revenues and other income 74 80 194 286
Policyholder Benefits and Claims Incurred, Net (76) (353) (51) (341)
Expenses:        
Intangible amortization 7 6 21 34
General and Administrative Expense 49 31 122 90
Interest expense 16 49 48 138
Total expenses 6 (262) 166 (66)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 68 342 28 352
Provision for income taxes 1 2 7 4
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest 0 0 (1) (1)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 66 340 21 348
Net income attributable to common stockholders 66 340 19 347
Other comprehensive income (loss), after tax        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 66 340 21 348
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax (23) (59) (19) (236)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (29) (58) 8 (136)
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, after Tax 0 (1) 0 0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax 0 0 2 (1)
Total other comprehensive income (loss), net of income tax (53) (118) (9) (372)
Total comprehensive income (loss), net of income tax 14 222 11 (24)
Less: comprehensive (gain) loss attributable to the noncontrolling interest        
Total comprehensive income (loss) attributable to common stockholders 13 222 10 (25)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest $ 0 $ 0 $ (1) $ (1)
Earnings Per Share, Basic $ 1.44 $ 7.50 $ 0.42 $ 7.56
Earnings Per Share, Diluted $ 1.41 $ 7.41 $ 0.41 $ 7.48
Weighted Average Number of Shares Outstanding, Basic 45,635,373 45,307,019 45,652,555 45,847,306
Weighted Average Number of Shares Outstanding, Diluted 46,810,735 45,846,405 46,786,443 46,356,094
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 18 11 47 39
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset 2 1 6 2
Deferred Policy Acquisition Costs, Amortization Expense 2 1 5 2
General and Administrative Expense 49 31 122 90
Insurance Commissions 8 4 22 13
Net realized gains on extinguishment of debt 0 0 0 57
Unrealized (loss) gain on securities, taxes 0 (3) (2) (8)
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