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DAC AND POLICYHOLDER BONUS INTEREST CREDITS
12 Months Ended
Dec. 31, 2020
Contract holder Bonus Interest Credits [Abstract]  
DAC AND POLICYHOLDER BONUS INTEREST CREDITS DAC AND POLICYHOLDER BONUS INTEREST CREDITS
Changes in the DAC asset for the years ended December 31, 2020, 2019 and 2018 were as follows:
December 31,
 202020192018
(in millions)
Balance, beginning of year (1)$5,840 $6,705 $5,900 
Capitalization of commissions, sales and issue expenses669 754 697 
Amortization:
Impact of assumptions updates and model changes(1,109)46 286 
All other(504)(643)(657)
     Total amortization(1,613)(597)(371)
Change in unrealized investment gains and losses(654)(994)479 
Reclassified to assets HFS1 (31)— 
Balance, end of year$4,243 $5,837 $6,705 
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(1) December 31, 2020 DAC beginning balance is $3 million more than December 31, 2019 ending balance due to impact of CECL.
The deferred asset for policyholder bonus interest credits is reported in other assets in the consolidated balance sheets and changes in the deferred asset for policyholder bonus interest credits are reported in Interest credited to policyholders’ account balances. For the years ended December 31, 2020, 2019 and 2018 changes were as follows:
Year Ended December 31,
 202020192018
(in millions)
Balance, beginning of year$430 $448 $472 
Amortization charged to income(26)(18)(24)
Balance, end of year$404 $430 $448