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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
[1]
Dec. 31, 2021
[1]
Net income $ 1,205 $ 682 $ 1,184
Other Comprehensive Income (Loss), net of tax      
Net unrealized gains and losses on investments 1,120 (6,102) (989)
Impact of changes in discount rates used to measure long-duration contract liabilities (318) 3,959 941
Foreign currency translation adjustment 58 (108) (19)
Pension and postretirement benefits 66 13 244
Other comprehensive income (loss), net of tax 926 (2,238) 177
Total comprehensive income (loss) 2,131 (1,556) 1,361
Investments      
Other Comprehensive Income (Loss), net of tax      
Net unrealized gains and losses on investments (5) (5) (2)
Net unrealized gains and losses on other investments      
Other Comprehensive Income (Loss), net of tax      
Net unrealized gains and losses on investments $ 1,125 $ (6,097) $ (987)
[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 Consolidated Financial Statements for additional information.