XML 86 R57.htm IDEA: XBRL DOCUMENT v3.22.0.1
EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows:
December 31, 2021December 31, 2020
SeriesShares AuthorizedShares
 Issued
Shares OutstandingShares AuthorizedShares
 Issued
Shares Outstanding
Series A 32,000 32,000 32,000 32,000 32,000 32,000 
Series B 20,000 20,000 20,000 20,000 20,000 20,000 
Series C12,000 12,000 12,000 — — — 
Total64,000 64,000 64,000 52,000 52,000 52,000 
Dividends Declared
Dividends declared per share were as follows for the periods indicated:
Year ended December 31,
202120202019
Series A dividends declared $1,313 $1,378 $— 
Series B dividends declared$1,238 $426 $— 
Series C dividends declared$1,006 $— $— 
Dividends declared per share of common stock were as follows for the periods indicated:
Year Ended December 31,
202120202019
Dividends declared$0.71 $0.66 $0.58 
Schedule of Accumulated Other Comprehensive Income (Loss)
AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of December 31, 2021, and 2020 follow:
 
December 31,
 
20212020
 
(in millions)
Unrealized gains (losses) on investments$2,684 $4,797 
Defined benefit pension plans(669)(935)
Foreign currency translation adjustments(45)(34)
Total accumulated other comprehensive income (loss)1,970 3,828 
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest(34)(35)
Accumulated other comprehensive income (loss) attributable to Holdings$2,004 $3,863 
Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes The components of OCI, net of taxes for the years ended December 31, 2021, 2020 and 2019 follow:

Year Ended December 31,
 

202120202019
 
(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period$(2,467)$4,887 $3,301 
(Gains) losses reclassified into net income (loss) during the period (1)(698)(653)(161)
Net unrealized gains (losses) on investments(3,165)4,234 3,140 
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other1,052 (1,278)(882)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(562), $786, and $595)
(2,113)2,956 2,258 
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (2)266 48 (15)
Change in defined benefit plans (net of deferred income tax expense (benefit) of $68, $14, and $10)
266 48 (15)
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period(11)22 
(Gains) losses reclassified into net income (loss) during the period — — 
Foreign currency translation adjustment(11)22 
Total other comprehensive income (loss), net of income taxes(1,858)3,026 2,248 
Less: Other comprehensive income (loss) attributable to noncontrolling interest1 (4)
Other comprehensive income (loss) attributable to Holdings$(1,859)$3,019 $2,252 
______________
(1)See “reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $186 million, $(174) million, and $(43) million for the years ended December 31, 2021, 2020 and 2019, respectively.
(2)These AOCI components are included in the computation of net periodic costs (see Note 14 of the Notes to these Consolidated Financial Statement).