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Goodwill and Specifically Identifiable Intangible Assets
12 Months Ended
Dec. 31, 2021
Goodwill and Specifically Identifiable Intangible Assets [Abstract]  
Goodwill and Specifically Identifiable Intangible Assets 9. Goodwill and Specifically Identifiable Intangible Assets The changes in the carrying amount of goodwill (in millions) by reportable segment were as follows: For the Year Ended December 31, 2021 GrossAccumulated GoodwillImpairment Net as ofas of Acquisition Goodwill Beginning-Beginning- Accounting as of End- of-Year of-Year Adjustments Impairment of-Year Annuities $ 1,040 $ (600) $ - $ - $ 440 Retirement Plan Services 20 - - - 20 Life Insurance 2,188 (1,554) - - 634 Group Protection 684 - - - 684 Total goodwill $ 3,932 $ (2,154) $ - $ - $ 1,778 For the Year Ended December 31, 2020 GrossAccumulated GoodwillImpairment Net as ofas of Acquisition Goodwill Beginning-Beginning- Accounting as of End- of-Year of-Year Adjustments Impairment of-Year Annuities $ 1,040 $ (600) $ - $ - $ 440 Retirement Plan Services 20 - - - 20 Life Insurance 2,188 (1,554) - - 634 Group Protection 684 - - - 684 Total goodwill $ 3,932 $ (2,154) $ - $ - $ 1,778 The fair values of our reporting units (Level 3 fair value estimates) are comprised of the value of in-force (i.e., existing) business and the value of new business. Specifically, new business is representative of cash flows and profitability associated with policies or contracts we expect to issue in the future, reflecting our forecasts of future sales volume and product mix over a 10-year period. To determine the values of in-force and new business, we use a discounted cash flows technique that applies a discount rate reflecting the market expected, weighted-average rate of return adjusted for the risk factors associated with operations to the projected future cash flows for each reporting unit. As of October 1, 2021 and 2020, we performed our annual quantitative goodwill impairment test for our reporting units, and, as of each such date, the fair value was in excess of each reporting unit’s carrying value for Annuities, Retirement Plan Services, Life Insurance and Group Protection. The gross carrying amounts and accumulated amortization (in millions) for each major specifically identifiable intangible asset class by reportable segment were as follows: As of December 31, 2021 As of December 31, 2020 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Retirement Plan Services: Mutual fund contract rights (1)$ 5 $ - $ 5 $ - Life Insurance: Sales force 100 63 100 59 Group Protection: VOCRA 576 85 576 55 VODA 31 7 31 5 Insurance licenses (1) 3 - 3 - Total$ 715 $ 155 $ 715 $ 119 (1)No amortization recorded as the intangible asset has indefinite life. Future estimated amortization of specifically identifiable intangible assets (in millions) as of December 31, 2021, was as follows: 2022$ 37 2023 37 2024 37 2025 37 2026 37 Thereafter 367