Accumulated Other Comprehensive Income (Loss) by Component (Tables)

6 Months Ended

Jun. 30, 2023

The tables below display the changes in Accumulated other comprehensive income (loss) by component.


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments(1)		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts (1)		Cumulative foreign currency translation adjustment		Total


Balance as of April 1, 2023	$	(15)	$	(2,068)	$	(584)	$	(437)	$	(204)	$	(3,308)
Other comprehensive income (loss) before reclassifications	(8)		(427)		—		256		34		(145)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $4, $2, $—, $— and $8	(7)		(14)		(7)		—		—		(28)
Other comprehensive income (loss) net of tax (expense) benefit of $—, $112, $(2), $(68), $— and $42	(1)		(413)		7		256		34		(117)
Balance as of June 30, 2023	$	(16)	$	(2,481)	$	(577)	$	(181)	$	(170)	$	(3,425)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments(1)		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts(1)		Cumulative foreign currency translation adjustment		Total
Balance as of April 1, 2022, as previously reported	$	(6)	$	(572)	$	(598)	$	—	$	(127)	$	(1,303)
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $270, $—, $(497), $— and $(227)	—		1,288		—		(2,365)		—		(1,077)
Balance as of April 1, 2022	(6)		716		(598)		(2,365)		(127)		(2,380)
Other comprehensive income (loss) before reclassifications	(1)		(2,240)		—		1,507		(68)		(802)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $3, $1, $—, $— and $3	1		(14)		(6)		—		—		(19)
Other comprehensive income (loss) net of tax (expense) benefit of $—, $590,$(1), $(400), $— and $189	(2)		(2,226)		6		1,507		(68)		(783)
Balance as of June 30, 2022	$	(8)	$	(1,510)	$	(592)	$	(858)	$	(195)	$	(3,163)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments(1)		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts(1)		Cumulative foreign currency translation adjustment		Total
Balance as of January 1, 2023, as previously reported	$	(7)	$	(2,738)	$	(591)	$	—	$	(221)	$	(3,557)
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $—, $—, $11, $— and $11	—		—		—		(41)		—		(41)
Balance as of January 1, 2023, as adjusted	(7)		(2,738)		(591)		(41)		(221)		(3,598)
Other comprehensive income (loss) before reclassifications	(16)		225		—		(140)		51		120
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $2, $8, $4, $—, $— and $14	(7)		(32)		(14)		—		—		(53)
Other comprehensive income (loss) net of tax (expense) benefit of $2, $(68), $(4), $37, $— and $(33)	(9)		257		14		(140)		51		173
Balance as of June 30, 2023	$	(16)	$	(2,481)	$	(577)	$	(181)	$	(170)	$	(3,425)


(In millions)	Net unrealized gains (losses) on investments with an allowance for credit losses		Net unrealized gains (losses) on other investments(1)		Pension and postretirement benefits		Cumulative impact of changes in discount rates used to measure long duration contracts(1)		Cumulative foreign currency translation adjustment		Total
Balance as of January 1, 2022, as previously reported	$	(2)	$	1,039	$	(604)	$	—	$	(113)	$	320
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $617, $—, $(1,063), $— and $(446)	—		2,320		—		(4,000)		—		(1,680)
Balance as of January 1, 2022, as adjusted	(2)		3,359		(604)		(4,000)		(113)		(1,360)
Other comprehensive income (loss) before reclassifications	(5)		(4,884)		—		3,142		(82)		(1,829)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $4, $3, $—, $— and $6	1		(15)		(12)		—		—		(26)
Other comprehensive income (loss) net of tax (expense) benefit of $1, $1,288, $(3), $(835), $— and $451	(6)		(4,869)		12		3,142		(82)		(1,803)
Balance as of June 30, 2022	$	(8)	$	(1,510)	$	(592)	$	(858)	$	(195)	$	(3,163)

(1) See Note A to the Condensed Consolidated Financial Statements for additional information.

Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows:


Component of AOCI						Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications
Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments						Net investment gains (losses)

Pension and postretirement benefits						Other operating expenses and Insurance claims and policyholders' benefits