Changes in and Reclassifications from Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Changes in and Reclassifications from Accumulated Other Comprehensive Income (Loss)

15. CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in AOCI, Net of Tax for the Three Months Ended June 30, 2022
	Changes in
	Net Unrealized Gain (Loss) on Fixed Maturities		Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	(266)	$	(2)	$	5	$	41	$	(1,477)	(1,699)
OCI before reclassifications	(2,080)		—		38		(10)		(1)		(2,053)
Amounts reclassified from AOCI	65		—		(6)		—		16		75
OCI, before tax	(2,015)		—		32		(10)		15		(1,978)
Income tax benefit (expense)	423		—		(7)		2		(3)		415
OCI, net of tax	(1,592)		—		25		(8)		12		(1,563)
Ending balance	$	(1,858)	$	(2)	$	30	$	33	$	(1,465)	$	(3,262)

Changes in AOCI, Net of Tax for the Six Months Ended June 30, 2022
	Changes in
	Net Unrealized Gain (Loss) on Fixed Maturities		Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	1,616	$	(2)	$	6	$	41	$	(1,489)	172
OCI before reclassifications	(4,549)		—		45		(10)		(1)		(4,515)
Amounts reclassified from AOCI	152		—		(14)		—		31		169
OCI, before tax	(4,397)		—		31		(10)		30		(4,346)
Income tax benefit (expense)	923		—		(7)		2		(6)		912
OCI, net of tax	(3,474)		—		24		(8)		24		(3,434)
Ending balance	$	(1,858)	$	(2)	$	30	$	33	$	(1,465)	$	(3,262)

Reclassifications from AOCI
	Three Months Ended June 30, 2022		Six Months Ended June 30, 2022		Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain on Fixed Maturities
Available-for-sale fixed maturities	$	(65)	$	(152)	Net realized gains (losses)
	(65)		(152)		Total before tax
	(14)		(32)		Income tax expense
	$	(51)	$	(120)	Net income
Net Gains on Cash Flow Hedging Instruments
Interest rate swaps	$	5	$	14	Net investment income
Interest rate swaps	(1)		(4)		Interest expense
Foreign currency swaps	2		4		Net investment income
	6		14		Total before tax
	1		3		Income tax expense
	$	5	$	11	Net income
Pension and Other Postretirement Plan Adjustments
Amortization of prior service credit	$	1	$	3	Insurance operating costs and other expenses
Amortization of actuarial loss	(17)		(34)		Insurance operating costs and other expenses
	(16)		(31)		Total before tax
	(3)		(7)		Income tax expense
	$	(13)	$	(24)	Net income
Total amounts reclassified from AOCI	$	(59)	$	(133)	Net income

Changes in AOCI, Net of Tax for the Three Months Ended June 30, 2021
	Changes in
	Net Unrealized Gain on Fixed Maturities		Net Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	1,909	$	(2)	$	17	$	44	$	(1,704)	$	264
OCI before reclassifications	426		—		2		2		(1)		429
Amounts reclassified from AOCI	(53)		—		(8)		—		19		(42)
OCI, before tax	373		—		(6)		2		18		387
Income tax benefit (expense)	(78)		—		1		—		(4)		(81)
OCI, net of tax	295		—		(5)		2		14		306
Ending balance	$	2,204	$	(2)	$	12	$	46	$	(1,690)	$	570

Changes in AOCI, Net of Tax for the Six Months Ended June 30, 2021
	Changes in
	Net Unrealized Gain on Fixed Maturities		Net Unrealized Loss on Fixed Maturities with ACL		Net Gain on Cash Flow Hedging Instruments		Foreign Currency Translation Adjustments		Pension and Other Postretirement Plan Adjustments		AOCI, net of tax
Beginning balance	$	2,834	$	(2)	$	12	$	43	$	(1,717)	$	1,170
OCI before reclassifications	(740)		—		17		4		(2)		(721)
Amounts reclassified from AOCI	(57)		—		(17)		—		36		(38)
OCI, before tax	(797)		—		—		4		34		(759)
Income tax benefit (expense)	167		—		—		(1)		(7)		159
OCI, net of tax	(630)		—		—		3		27		(600)
Ending balance	$	2,204	$	(2)	$	12	$	46	$	(1,690)	$	570

Reclassifications from AOCI
	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021		Affected Line Item in the Condensed Consolidated Statement of Operations
Net Unrealized Gain on Fixed Maturities
Available-for-sale fixed maturities	$	53	$	57	Net realized gains (losses)
	53		57		Total before tax
	11		12		Income tax expense
	$	42	$	45	Net income
Net Gains on Cash Flow Hedging Instruments
Interest rate swaps	$	10	$	20	Net investment income
Interest rate swaps	(3)		(5)		Interest expense
Foreign currency swaps	1		2		Net investment income
	8		17		Total before tax
	2		4		Income tax expense
	$	6	$	13	Net income
Pension and Other Postretirement Plan Adjustments
Amortization of prior service credit	$	1	$	3	Insurance operating costs and other expenses
Amortization of actuarial loss	(20)		(39)		Insurance operating costs and other expenses
	(19)		(36)		Total before tax
	(4)		(8)		Income tax expense
	$	(15)	$	(28)	Net income
Total amounts reclassified from AOCI	$	33	$	30	Net income