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DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period $ 6 $ 4 $ 5
Unrealized foreign currency translation gains (losses) during period (366) (1,034) (861)
Derivative and non-derivative hedging instruments, gain (loss) recognized in other comprehensive income, before tax [1] 576 1,048 858
Reclassification out of Accumulated Other Comprehensive Income      
Derivative Instruments, Gain (Loss) [Line Items]      
Cash flow hedge (4) (4) (4)
Fair value hedge excluded component (1) (1) (2)
Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] $ (2) $ (1) $ (2)
Gains (losses) recognized in income on derivative ext list Net investment income Net investment income Net investment income
Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative $ (531) $ (1,151) $ (805)
Gains (losses) recognized in income on derivative ext list Net investment gains (losses) Net investment gains (losses) Net investment gains (losses)
Cash flow hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period [1] $ 5 $ 4 $ 3
Cash flow hedges | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] (1) (1) (1)
Cash flow hedges | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [3] (4) (4) (4)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity      
Derivative Instruments, Gain (Loss) [Line Items]      
Unrealized gains (losses) on derivatives during period [1] 5 4 3
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] (1) (1) (1)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (4) (4) (4)
Fair value hedges      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in other comprehensive income on derivative [1] 1 0 2
Fair value hedges | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2] (1) 0 (1)
Fair value hedges | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (65) (18) (24)
Fair value hedges | Foreign currency forwards      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 0 (1)
Fair value hedges | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (65) (18) (22)
Fair value hedges | Interest rate swaptions      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in other comprehensive income on derivative [1],[4] 1 0 2
Fair value hedges | Interest rate swaptions | Net investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [2],[4] (1) 0 (1)
Fair value hedges | Interest rate swaptions | Net investment gains (losses)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative [4] 0 0 (1)
Net investment hedge      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 229 (81) 25
Unrealized foreign currency translation gains (losses) during period [1] 570 1,044 853
Net investment hedge | Foreign currency forwards      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 234 (80) 29
Unrealized foreign currency translation gains (losses) during period [1] 313 673 525
Net investment hedge | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (5) (1) (4)
Unrealized foreign currency translation gains (losses) during period [1] 0 0 0
Net investment hedge | Non-derivative hedging Instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 0 0
Unrealized foreign currency translation gains (losses) during period [1] 257 371 328
Non-qualifying strategies      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (691) (1,048) (802)
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (201) 9 (188)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 4 159 135
Non-qualifying strategies | Foreign currency forwards      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (349) (650) (707)
Non-qualifying strategies | Foreign currency options      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (53) 0 (3)
Non-qualifying strategies | Interest rate swaptions      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative 0 1 0
Non-qualifying strategies | Interest rate swaps      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative (88) (546) (38)
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains (losses) recognized in income on derivative $ (4) $ (21) $ (1)
[1] Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss).
[2] Interest expense/income on cash flow hedges is recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items.
[3] Impact of cash flow hedges reported as net investment gains (losses) includes $4 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2023, compared with $4 of losses during the years ended December 31, 2022 and 2021, respectively.
[4] Includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2023, compared with $1 and $2 of losses during the years ended December 31, 2022 and 2021, respectively, related to fair value hedges excluded component. Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail).