INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule 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,
	2022		2021		2020
	(in millions)
Income tax (expense) benefit:
Current (expense) benefit	$	32	$	11	$	(112)
Deferred (expense) benefit	(311)		463		739
Total	$	(279)	$	474	$	627

Schedule Of Effective Income Tax Rate Reconciliation

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

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Expected income tax (expense) benefit	$	(308)	$	393	$	291
Non-taxable investment income	50		79		91
Tax audit interest	(13)		(14)		(8)
Tax settlements/uncertain tax position release	—		—		231
Tax credits	17		28		21
Deferred tax adjustment	(21)		—		—
Other	(4)		(12)		1
Income tax (expense) benefit	$	(279)	$	474	$	627

Schedule Of Net Deferred Income Taxes

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

	December 31,
	2022				2021
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Compensation and related benefits	$	62	$	—	$	46	$	—
Net operating loss and credits	505		—		732		—
Reserves and reinsurance	1,307		—		2,072		—
DAC	—		1,008		—		685
Unrealized investment gains (losses)	1,910		—		—		892
Investments	451		—		—		18
Other	108		—		31		—
Valuation allowance	(1,489)		—		—		—
Total	$	2,854	$	1,008	$	2,881	$	1,595

Schedule Of Unrecognized Tax Benefits Reconciliation

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

	Year Ended December 31,
	2022		2021		2020
	(in millions)
Balance at January 1,	$	295	$	281	$	297
Additions for tax positions of prior years	—		17		229
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	$	295	$	281
Unrecognized tax benefits that, if recognized, would impact the effective rate	$	43	$	43	$	47