Accumulated Other Comprehensive Income (Loss) by Component

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) by Component

Accumulated Other Comprehensive Income (Loss) by Component

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 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	(7)		(2,738)		(591)		(41)		(221)		(3,598)
Other comprehensive income (loss) before reclassifications	(24)		1,072		39		(318)		58		827
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $5, $14, $7, $—, $— and $26	(19)		(53)		(27)		—		—		(99)
Other comprehensive income (loss) net of tax (expense) benefit of $1, $(304), $(17), $85, $— and $(235)	(5)		1,125		66		(318)		58		926
Balance as of December 31, 2023	$	(12)	$	(1,613)	$	(525)	$	(359)	$	(163)	$	(2,672)

(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	—		(6,223)		(11)		3,959		(108)		(2,383)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $21, $6, $—, $— and $26	5		(126)		(24)		—		—		(145)
Other comprehensive income (loss) net of tax (expense) benefit of $1, $1,622, $(3), $(1,052), $— and $568	(5)		(6,097)		13		3,959		(108)		(2,238)
Balance as of December 31, 2022	$	(7)	$	(2,738)	$	(591)	$	(41)	$	(221)	$	(3,598)

(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, 2021, as previously reported	$	—	$	1,745	$	(848)	$	—	$	(94)	$	803
Cumulative effect adjustment from accounting change for adoption of ASU 2018-12(1) net of tax (expense) benefit of $—, $(691), $—, $1,313, $— and $622	—		2,601		—		(4,941)		—		(2,340)
Balance as of January 1, 2021, as adjusted	—		4,346		(848)		(4,941)		(94)		(1,537)
Other comprehensive income (loss) before reclassifications	(7)		(906)		207		941		(19)		216
Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $1, $(21), $10, $—, $— and $(10)	(5)		81		(37)		—		—		39
Other comprehensive income (loss) net of tax (expense) benefit of $1, $263, $(65), $(250), $— and $(51)	(2)		(987)		244		941		(19)		177
Balance as of December 31, 2021	$	(2)	$	3,359	$	(604)	$	(4,000)	$	(113)	$	(1,360)

1) See Note A to the 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	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