EQUITY (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of December 31, 2021, 2020, and 2019 follow:


	December 31,
	2021		2020
	(in millions)
Unrealized gains (losses) on investments	$	2,362	$	4,600
Defined benefit pension plans	(5)		(5)
Accumulated other comprehensive income (loss) attributable to Equitable Financial	$	2,357	$	4,595

Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The components of OCI, net of taxes for the years ended December 31, 2021, 2020 and 2019, follow:


	Year Ended December 31,
		2021		2020		2019
		(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period		$	(2,293)	$	4,698	$	3,052
(Gains) losses reclassified into net income (loss) during the period (1)		(686)		(633)		(160)
Net unrealized gains (losses) on investments		(2,979)		4,065		2,892
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other		741		(1,066)		(797)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(595), $798, and $547)		(2,238)		2,999		2,095
Change in defined benefit plans:
Reclassification to net income (loss) of amortization of net prior service credit included in net periodic cost		—		—		2
Change in defined benefit plans, (net of deferred income tax expense (benefit) of $0, $0 and $0 (2))		—		—		2
Other comprehensive income (loss), attributable to Equitable Financial		$	(2,238)	$	2,999	$	2,097

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(1)See “Reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $182 million, $(168) million , and $(42) million for the years ended December 31, 2021, 2020 and 2019, respectively.