XML 35 R3.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost of $72,991 and $73,429) (allowance for credit losses of $24 and $22) $ 63,361 $ 78,216
Fixed maturities, at fair value using the fair value option [1] 1,508 1,641
Mortgage loans on real estate (net of allowance for credit losses of $53 and $62) [1] 16,481 14,033
Policy loans 4,033 4,024
Other equity investments [1] 3,152 2,975
Trading securities, at fair value 677 631
Other invested assets [1] 3,885 3,591
Total investments 93,097 105,111
Cash and cash equivalents [1] 4,281 5,188
Cash and securities segregated, at fair value 1,522 1,504
Broker-dealer related receivables 2,338 2,599
Deferred policy acquisition costs 8,158 5,491
Goodwill and other intangible assets, net 5,482 4,728
Amounts due from reinsurers (allowance for credit losses of $6 and $5) (includes amounts accounted for at fair value of $4,681 and $5,813) [2] 17,201 14,679
GMIB reinsurance contract asset, at fair value 1,229 1,848
Current and deferred income taxes 714 195
Other assets [1] 4,031 3,613
Assets held-for-sale 562 0
Separate Accounts assets 114,853 147,306
Total Assets 253,468 292,262
LIABILITIES    
Policyholders’ account balances 83,855 79,357
Future policy benefits and other policyholders' liabilities 34,124 36,717
Broker-dealer related payables 715 1,283
Customer related payables 3,323 3,600
Amounts due to reinsurers 1,533 1,381
Short-term debt 759 92
Long-term debt 3,322 3,839
Notes issued by consolidated variable interest entities, at fair value using the fair value option [1] 1,150 1,191
Other liabilities [1] 5,873 3,933
Liabilities held-for-sale 108 0
Separate Accounts liabilities 114,853 147,306
Total Liabilities 249,615 278,699
Redeemable noncontrolling interest [1],[3] 455 468
Commitments and contingent liabilities [4]
Equity attributable to Holdings:    
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference 1,562 1,562
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 508,418,442 and 520,918,331 shares issued, respectively; 365,081,940 and 391,290,224 shares outstanding, respectively 4 4
Additional paid-in capital 2,299 1,919
Treasury stock, at cost, 143,336,502 and 129,628,107 shares, respectively (3,297) (2,850)
Retained earnings 9,924 8,880
Accumulated other comprehensive income (loss) (8,834) 2,004
Total equity attributable to Holdings 1,658 11,519
Noncontrolling interest 1,740 1,576
Total Equity 3,398 13,095
Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 253,468 $ 292,262
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.
[2] Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction and Note 8 of the Notes to these Consolidated Financial Statements.
[3] See Note 22 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.(3) Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction and Note 8 of the Notes to these Consolidated Financial Statements.
[4] See Note 17 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.