INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary Of Income Tax Expense (Benefit)

A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Income tax (expense) benefit:
Current (expense) benefit	$	11	$	(112)	$	295
Deferred (expense) benefit	463		739		284
Total	$	474	$	627	$	579

Schedule Of Effective Income Tax Rate Reconciliation

The sources of the difference and their tax effects are as follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Expected income tax (expense) benefit	$	393	$	291	$	517
Non-taxable investment income	79		91		73
Tax audit interest	(14)		(8)		(14)
Tax settlements/uncertain tax position release	—		231		—
Tax credits	28		21		—
Other	(12)		1		3
Income tax (expense) benefit	$	474	$	627	$	579

Schedule Of Net Deferred Income Taxes

The components of the net deferred income taxes are as follows:

	December 31,
	2021				2020
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Compensation and related benefits	$	46	$	—	$	58	$	—
Net operating loss and credits	732		—		—		—
Reserves and reinsurance	2,072		—		1,483		—
DAC	—		685		—		606
Unrealized investment gains (losses)	—		892		—		1,668
Investments	—		18		1,071		—
Other	31		—		—		111
Total	$	2,881	$	1,595	$	2,612	$	2,385

Unrecognized Tax Benefits Reconciliation

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Balance at January 1,	$	281	$	297	$	273
Additions for tax positions of prior years	17		229		24
Reductions for tax positions of prior years	(3)		(250)		—
Additions for tax positions of current year	—		—		—
Settlements with tax authorities	—		5		—
Balance at December 31,	$	295	$	281	$	297
Unrecognized tax benefits that, if recognized, would impact the effective rate	$	43	$	47	$	222