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DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
3 Months Ended
Mar. 31, 2023
Contract holder Bonus Interest Credits [Abstract]  
Schedule of Deferred Policy Acquisition Costs
The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12:
TermUL (1)VUL (2)IUL (3)GMxB LegacyGMxB CoreEI (4)IE (5)SCSEG (6)MomentumTotal
(in millions)
Balance, December 31, 2020$403 $ $ $ $192 $1,635 $141 $95 $645 $581 $79 $3,771 
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income 5 6  8 11 13 (1)210 53 22 327 
Balance, January 1, 2020 (7)$403 $5 $6 $ $200 $1,646 $154 $94 $855 $634 $101 $4,098 
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(1) “UL” defined as Universal Life
(2) “VUL” defined as Variable Universal Life
(3) “IUL” defined as Indexed Universal Life
(4) “EI” defined as EQUI-VEST Individual
(5) “IE” defined as Investment Edge
(6) “EG” defined as EQUI-VEST Group
(7) DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment.
Changes in the DAC asset for the three months ended March 31, 2023 and 2022 were as follows:
TermULVULIULGMxB CoreEI IE SCSGMxB LegacyEG MomentumCB Total
(in millions)
Balance, beginning of the period
$362 $20 $112 $ $1,585 $156 $147 $1,266 $213 $711 $89 $127 $4,788 
Capitalization 4 1 17  10 3 6 58 7 16 3  125 
Amortization(10) (2) (34)(3)(3)(45)(6)(11)(5)(3)(122)
Balance, March 31, 2023$356 $21 $127 $ $1,561 $156 $150 $1,279 $214 $716 $87 $124 $4,791 


TermULVULGMxB CoreEI IE SCSGMxB LegacyEG MomentumCB Total
(in millions)
Balance, beginning of the period
$385 $14 $50 $1,639 $156 $121 $1,070 $209 $678 $94 $138 $4,554 
Capitalization 20 26 88 18 — 182 
Amortization(10)— (1)(33)(3)(3)(40)(5)(10)(5)(3)(113)
Balance, March 31, 2022$379 $16 $69 $1,632 $156 $127 $1,118 $212 $686 $93 $135 $4,623 
_______________
(1)    DAC amortization of $2 million related to Other not reflected in table above.
Changes in the Sales Inducement Assets for the three months ended March 31, 2023 and 2022 were as follows:
Three Months Ended March 31,
20232022
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of the period
$137 $200 $147 $222 
Amortization(3)(5)(3)(5)
Balance, end of the period
$134 $195 $144 $217 

Changes in the Unearned Revenue Liability for the three months ended March 31, 2023 and 2022 were as follows:
Three Months Ended March 31,
20232022
ULVULULVUL
(in millions)
Balance, beginning of the period$95 $525 $80 $501 
Capitalization5 14 14 
Amortization(2)(8)(1)(8)
Balance, end of the period$98 $531 $84 $507 
Schedule of Reconciliation of Deferred Acquisition Cost The following table presents a reconciliation of DAC to the consolidated balance sheet as of March 31, 2023 and December 31, 2022
March 31, 2023December 31, 2022
(in millions)
 Term
$356 $362 
 UL
21 20 
 VUL
127 112 
 IUL
 — 
GMxB Core
1,561 1,585 
 EQUI-VEST Individual
156 156 
 Investment Edge
150 147 
 SCS
1,279 1,266 
 EQUI-VEST Group
716 711 
 Momentum
87 89 
GMxB Legacy214 127 
 Closed Block124 213 
 Other26 26 
Total$4,817 $4,814