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Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
[2]
Net income $ 297 $ 295 [1]
Other Comprehensive Income (Loss), net of tax    
Net unrealized gains and losses on investments 662 (2,647)
Impact of changes in discount rates used to measure long-duration contract liabilities (396) 1,635
Foreign currency translation adjustment 17 (14)
Pension and postretirement benefits 7 6
Other comprehensive income (loss), net of tax 290 (1,020)
Total comprehensive income (loss) 587 (725)
Net unrealized gains and losses on investments with an allowance for credit losses    
Other Comprehensive Income (Loss), net of tax    
Net unrealized gains and losses on investments (8) (4)
Net unrealized gains and losses on other investments    
Other Comprehensive Income (Loss), net of tax    
Net unrealized gains and losses on investments $ 670 $ (2,643)
[1] As of January 1, 2023, the Company adopted ASU 2018-12, Financial Services-Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2018-12) using the modified retrospective method applied as of the transition date of January 1, 2021. Prior period amounts in the financial statements have been adjusted to reflect application of the new guidance. See Note A to the Condensed Consolidated Financial Statements for additional information.
[2] As of January 1, 2023, the Company adopted ASU 2018-12 using the modified retrospective method applied as of the transition date of January 1, 2021. Prior period amounts in the financial statements have been adjusted to reflect application of the new guidance. See Note A to the Condensed Consolidated Financial Statements for additional information.