Deferred Acquisition Costs

6 Months Ended

Jun. 30, 2022

Deferred Acquisition Costs

Deferred Acquisition Costs

5. Deferred Acquisition Costs

Acquisition costs deferred and amortized were as follows:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2022		2021		2022		2021
	(in millions)
Balance at beginning of year	$	4,102.7	$	3,613.5	$	3,757.5	$	3,409.7
Costs deferred during the year		89.4		114.4		198.0		237.1
Amortized to expense during the year (1)		(218.4)		(85.2)		(330.5)		(158.5)
Adjustment related to unrealized (gains) losses available-for-sale securities and derivative instruments (2)		366.6		(61.5)		715.3		92.9
Balance at end of year	$	4,340.3	$	3,581.2	$	4,340.3	$	3,581.2

(1) Includes adjustments for revisions to estimated gross profits. Amortization for both the three and six months ended June 30, 2022, includes the impact from re-cohorting. Refer to Note 1, Nature of Operations and Significant Accounting Policies, under the caption “Actuarial Balance Re-Cohorting” for further details.

(2) The adjustment for both the three and six months ended June 30, 2022, includes the impact from re-cohorting. Refer to Note 1, Nature of Operations and Significant Accounting Policies, under the caption “Actuarial Balance Re-Cohorting” for further details.