XML 62 R51.htm IDEA: XBRL DOCUMENT v3.23.2
Adoption of ASU 2018-12 (Summary of Restated Consolidated Statements of Comprehensive Income (Loss)) (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Fee income $ 1,365 $ 1,409 $ 2,744 $ 2,867
Realized gain (loss) (1,784) 1,101 (2,612) 1,282
Total revenues 2,929 5,577 6,743 10,297
Benefits 2,192 1,954 4,483 4,110
Interest credited 808 710 1,593 1,407
Market risk benefit (gain) loss (2,023) 477 (1,404) (881)
Policyholder liability remeasurement (gain) loss (110) 85 (228) 126
Commissions and other expenses 1,335 1,207 2,637 2,460
Total expenses 2,327 4,545 7,311 7,431
Income (loss) before taxes 602 1,032 (568) 2,866
Federal income tax expense (benefit) 91 192 (198) 545
Net income (loss) 511 840 (370) 2,321
Unrealized investment gain (loss) (513) (6,655) 1,261 (14,153)
Market risk benefit non-performance risk gain (loss) (924) 354 101 374
Policyholder liability discount rate remeasurement gain (loss) 112 710 (90) 1,521
Total other comprehensive income (loss), net of tax (1,350) (5,595) 1,248 (12,264)
Comprehensive income (loss) $ (839) $ (4,755) $ 878 $ (9,943)
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 2.95 $ 4.91 $ (2.40) $ 13.44
Diluted (in dollars per share) $ 2.94 $ 4.83 $ (2.41) $ 13.25
Accounting Standards Update 2018-12 [Member]        
Fee income   $ 1,409    
Realized gain (loss)   1,101    
Total revenues   5,577    
Benefits   1,954    
Interest credited   710    
Market risk benefit (gain) loss   477    
Policyholder liability remeasurement (gain) loss   85    
Commissions and other expenses   1,207    
Total expenses   4,545    
Income (loss) before taxes   1,032    
Federal income tax expense (benefit)   192    
Net income (loss)   840    
Unrealized investment gain (loss)   (6,655)    
Market risk benefit non-performance risk gain (loss)   354    
Policyholder liability discount rate remeasurement gain (loss)   710    
Total other comprehensive income (loss), net of tax   (5,595)    
Comprehensive income (loss)   $ (4,755)    
Net Income (Loss) Per Common Share        
Basic (in dollars per share)   $ 4.91    
Diluted (in dollars per share)   $ 4.83    
Accounting Standards Update 2018-12 [Member] | As Previously Reported [Member]        
Fee income   $ 1,506   $ 3,074
Realized gain (loss)   515   540
Total revenues   5,088   9,762
Benefits   2,890   5,458
Interest credited   706   1,403
Commissions and other expenses   1,123   2,358
Total expenses   4,831   9,428
Income (loss) before taxes   257   334
Federal income tax expense (benefit)   29   15
Net income (loss)   228   319
Unrealized investment gain (loss)   (5,585)   (10,772)
Total other comprehensive income (loss), net of tax   (5,589)   (10,778)
Comprehensive income (loss)   $ (5,361)   $ (10,458)
Net Income (Loss) Per Common Share        
Basic (in dollars per share)   $ 1.34   $ 1.87
Diluted (in dollars per share)   $ 1.28   $ 1.80
Accounting Standards Update 2018-12 [Member] | Restatement Impacts [Member]        
Fee income   $ (97)   $ (207)
Realized gain (loss)   586   742
Total revenues   489   535
Benefits   (936)   (1,348)
Interest credited   4   4
Market risk benefit (gain) loss   477   (881)
Policyholder liability remeasurement (gain) loss   85   126
Commissions and other expenses   84   102
Total expenses   (286)   (1,997)
Income (loss) before taxes   775   2,532
Federal income tax expense (benefit)   163   530
Net income (loss)   612   2,002
Unrealized investment gain (loss)   (1,070)   (3,381)
Market risk benefit non-performance risk gain (loss)   354   374
Policyholder liability discount rate remeasurement gain (loss)   710   1,521
Total other comprehensive income (loss), net of tax   (6)   (1,486)
Comprehensive income (loss)   $ 606   $ 515
Net Income (Loss) Per Common Share        
Basic (in dollars per share)   $ 3.57   $ 11.57
Diluted (in dollars per share)   $ 3.55   $ 11.45