| Component of Changes in Accumulated Other Comprehensive Income (Loss), Net of Taxes |
The following tables show the changes in accumulated other comprehensive income (loss), net of taxes, by component as of and for the periods indicated:
|
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|
|
|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
Net
unrealized
investment
gains
(losses) |
|
|
Derivatives qualifying as hedges (1) |
|
|
Change in the
discount rate
used to
measure
future policy
benefits |
|
|
Change in
instrument-
specific
credit risk
of market
risk benefits |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of April 1, 2024 |
|
$ |
(2,615 |
) |
|
$ |
849 |
|
|
$ |
(334 |
) |
|
$ |
(6 |
) |
|
$ |
12 |
|
|
$ |
(2,094 |
) |
OCI before reclassifications |
|
|
(442 |
) |
|
|
(85 |
) |
|
|
958 |
|
|
|
— |
|
|
|
(5 |
) |
|
|
426 |
|
Amounts reclassified from OCI |
|
|
15 |
|
|
|
(34 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(19 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period OCI |
|
|
(427 |
) |
|
|
(119 |
) |
|
|
958 |
|
|
|
— |
|
|
|
(5 |
) |
|
|
407 |
|
Balances as of June 30, 2024 before noncontrolling interests |
|
|
(3,042 |
) |
|
|
730 |
|
|
|
624 |
|
|
|
(6 |
) |
|
|
7 |
|
|
|
(1,687 |
) |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI attributable to noncontrolling interests |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2024 |
|
$ |
(3,042 |
) |
|
$ |
730 |
|
|
$ |
624 |
|
|
$ |
(6 |
) |
|
$ |
7 |
|
|
$ |
(1,687 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
See note 5 for additional information. |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
unrealized
investment
gains
(losses) |
|
|
Derivatives qualifying as hedges (1) |
|
|
Change in the
discount rate
used to
measure
future policy
benefits |
|
|
Change in
instrument-
specific
credit risk
of market
risk benefits |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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| |
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|
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|
|
Balances as of April 1, 2023 |
|
$ |
(2,500 |
) |
|
$ |
1,274 |
|
|
$ |
(1,628 |
) |
|
$ |
(9 |
) |
|
$ |
10 |
|
|
$ |
(2,853 |
) |
OCI before reclassifications |
|
|
(584 |
) |
|
|
(83 |
) |
|
|
664 |
|
|
|
— |
|
|
|
4 |
|
|
|
1 |
|
Amounts reclassified from OCI |
|
|
23 |
|
|
|
(37 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(14 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period OCI |
|
|
(561 |
) |
|
|
(120 |
) |
|
|
664 |
|
|
|
— |
|
|
|
4 |
|
|
|
(13 |
) |
Balances as of June 30, 2023 before noncontrolling interests |
|
|
(3,061 |
) |
|
|
1,154 |
|
|
|
(964 |
) |
|
|
(9 |
) |
|
|
14 |
|
|
|
(2,866 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI attributable to noncontrolling interests |
|
|
(5 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Balances as of June 30, 2023 |
|
$ |
(3,056 |
) |
|
$ |
1,154 |
|
|
$ |
(964 |
) |
|
$ |
(9 |
) |
|
$ |
14 |
|
|
$ |
(2,861 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
See note 5 for additional information. |
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
unrealized
investment
gains
(losses) |
|
|
Derivatives qualifying as hedges (1) |
|
|
Change in the
discount rate
used to
measure
future policy
benefits |
|
|
Change in
instrument-
specific
credit risk
of market
risk benefits |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| |
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|
|
Balances as of January 1, 2024 |
|
$ |
(2,130 |
) |
|
$ |
1,010 |
|
|
$ |
(1,439 |
) |
|
$ |
(8 |
) |
|
$ |
12 |
|
|
$ |
(2,555 |
) |
OCI before reclassifications |
|
|
(945 |
) |
|
|
(210 |
) |
|
|
2,063 |
|
|
|
2 |
|
|
|
(5 |
) |
|
|
905 |
|
Amounts reclassified from OCI |
|
|
32 |
|
|
|
(70 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(38 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period OCI |
|
|
(913 |
) |
|
|
(280 |
) |
|
|
2,063 |
|
|
|
2 |
|
|
|
(5 |
) |
|
|
867 |
|
Balances as of June 30, 2024 before noncontrolling interests |
|
|
(3,043 |
) |
|
|
730 |
|
|
|
624 |
|
|
|
(6 |
) |
|
|
7 |
|
|
|
(1,688 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI attributable to noncontrolling interests |
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2024 |
|
$ |
(3,042 |
) |
|
$ |
730 |
|
|
$ |
624 |
|
|
$ |
(6 |
) |
|
$ |
7 |
|
|
$ |
(1,687 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
See note 5 for additional information. |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
unrealized
investment
gains
(losses) |
|
|
Derivatives qualifying as hedges (1) |
|
|
Change in the
discount rate
used to
measure
future policy
benefits |
|
|
Change in
instrument-
specific
credit risk
of market
risk benefits |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of January 1, 2023 |
|
$ |
(3,407 |
) |
|
$ |
1,200 |
|
|
$ |
(403 |
) |
|
$ |
(10 |
) |
|
$ |
6 |
|
|
$ |
(2,614 |
) |
OCI before reclassifications |
|
|
322 |
|
|
|
31 |
|
|
|
(561 |
) |
|
|
1 |
|
|
|
8 |
|
|
|
(199 |
) |
Amounts reclassified from OCI |
|
|
36 |
|
|
|
(77 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(41 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period OCI |
|
|
358 |
|
|
|
(46 |
) |
|
|
(561 |
) |
|
|
1 |
|
|
|
8 |
|
|
|
(240 |
) |
Balances as of June 30, 2023 before noncontrolling interests |
|
|
(3,049 |
) |
|
|
1,154 |
|
|
|
(964 |
) |
|
|
(9 |
) |
|
|
14 |
|
|
|
(2,854 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI attributable to noncontrolling interests |
|
|
7 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2023 |
|
$ |
(3,056 |
) |
|
$ |
1,154 |
|
|
$ |
(964 |
) |
|
$ |
(9 |
) |
|
$ |
14 |
|
|
$ |
(2,861 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
See note 5 for additional information. |
|
| Reclassifications in (out) of Accumulated Other Comprehensive Income (Loss), Net of Taxes |
The following table shows reclassifications from accumulated other comprehensive income (loss), net of taxes, for the periods presented:
|
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|
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|
|
|
|
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|
|
Affected line item in the |
|
|
Three months ended June 30, |
|
|
Six months ended June 30, |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized investment (gains) losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized (gains) losses on investments |
|
$ |
19 |
|
|
$ |
30 |
|
|
$ |
41 |
|
|
$ |
46 |
|
|
Net investment (gains) losses |
| Income taxes |
|
|
(4 |
) |
|
|
(7 |
) |
|
|
(9 |
) |
|
|
(10 |
) |
|
Provision for income taxes |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
15 |
|
|
$ |
23 |
|
|
$ |
32 |
|
|
$ |
36 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives qualifying as hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps hedging assets |
|
$ |
(52 |
) |
|
$ |
(55 |
) |
|
$ |
(105 |
) |
|
$ |
(109 |
) |
|
Net investment income |
Interest rate swaps hedging assets |
|
|
(1 |
) |
|
|
(3 |
) |
|
|
(5 |
) |
|
|
(8 |
) |
|
Net investment (gains) losses |
Interest rate swaps hedging liabilities |
|
|
1 |
|
|
|
— |
|
|
|
2 |
|
|
|
1 |
|
|
Interest expense |
Interest rate swaps hedging liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
Net investment (gains) losses |
| |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
Net investment (gains) losses |
| |
|
|
18 |
|
|
|
21 |
|
|
|
38 |
|
|
|
42 |
|
|
Provision for income taxes |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
(34 |
) |
|
$ |
(37 |
) |
|
$ |
(70 |
) |
|
$ |
(77 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|