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Assets and Liabilities of Businesses Held for Sale
 3 Months Ended
Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities of Business Held for Sale Note 5 – Assets and Liabilities of Businesses Held for Sale
We entered into a definitive agreement in October 2021 to sell our life, accident and supplemental benefits businesses in several countries to Chubb. As of March 31, 2022, we now expect to sell our life, accident and supplemental benefits businesses in six countries (Hong Kong, Indonesia, New Zealand, South Korea, Taiwan and Thailand) to Chubb for $5.72 billion in cash. Subject to applicable regulatory approvals and customary closing conditions, we expect to complete the sale of these businesses in the second quarter of 2022. The Company has aggregated and classified the assets and liabilities of these businesses as held for sale in our Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021. The assets and liabilities of our interest in a joint venture in Turkey were classified as held for sale in our Consolidated Balance Sheet as of December 31, 2021; however, we no longer expect to sell this business to Chubb and the assets and liabilities are no longer classified as held for sale.
The assets and liabilities of businesses held for sale were as follows:
(In millions)March 31, 2022December 31, 2021
Cash and cash equivalents$591 $406 
Investments4,771 5,109 
Deferred policy acquisition costs2,717 2,755 
Separate account assets718 878 
Goodwill, other intangible assets and all other assets896 909 
Total assets of businesses held for sale9,693 10,057 
Insurance and contractholder liabilities4,562 4,644 
Accounts payable, accrued expenses and other liabilities436 452 
Deferred tax liabilities, net400 449 
Separate account liabilities718 878 
Total liabilities of businesses held for sale$6,116 $6,423 
The held for sale businesses reported Gross unrealized (depreciation) appreciation on securities and derivatives of $(33) million and $137 million and Gross cumulative translation losses on foreign currencies of $160 million and $209 million on our Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021, respectively.