Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Equity

11. Equity

Accumulated Other Comprehensive Income (Loss)—The following provides the details and changes in AOCI:

(In millions)	Unrealized investment gains (losses) on AFS securities without a credit allowance		Unrealized investment gains (losses) on AFS securities with a credit allowance		Unrealized gains (losses) on hedging instruments		Remeasurement gains (losses) on future policy benefits related to discount rate		Remeasurement gains (losses) on market risk benefits related to credit risk		Foreign currency translation and other adjustments		Accumulated other comprehensive income (loss)
Balance at December 31, 2022	$	(12,565)	$	(334)	$	47	$	5,256	$	285	$	(10)	$	(7,321)
Other comprehensive income (loss) before reclassifications	2,187		(119)		191		(802)		89		16		1,562
Less: Reclassification adjustments for gains (losses) realized1	(31)		—		87		—		—		—		56
Less: Income tax expense (benefit)	312		14		15		(73)		18		4		290
Less: Other comprehensive income (loss) attributable to noncontrolling interests	220		—		27		(208)		1		3		43
Balance at March 31, 2023	$	(10,879)	$	(467)	$	109	$	4,735	$	355	$	(1)	$	(6,148)
1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss).

(In millions)	Unrealized investment gains (losses) on AFS securities without a credit allowance		Unrealized investment gains (losses) on AFS securities with a credit allowance		Unrealized gains (losses) on hedging instruments		Remeasurement gains (losses) on future policy benefits related to discount rate		Remeasurement gains (losses) on market risk benefits related to credit risk		Foreign currency translation and other adjustments		Accumulated other comprehensive income (loss)
Balance at January 1, 2022	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Other comprehensive income (loss) before reclassifications1	(6,645)		(97)		(129)		3,562		397		(2)		(2,914)
Less: Reclassification adjustments for gains (losses) realized in net income1	(38)		(7)		—		—		—		—		(45)
Less: Income tax expense (benefit)	(1,184)		(16)		(26)		529		83		(1)		(615)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(676)		(9)		(24)		774		5		(6)		64
Balance at March 31, 2022	$	(4,747)	$	(65)	$	(79)	$	2,259	$	309	$	5	$	(2,318)
1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss).