Financing Receivables (Tables)


	Commercial Loans		Consumer Loans		Total
	(in millions)


Balance, January 1, 2021	$	66	$	2	$	68
Provisions	(13)		2		(11)
Charge-offs	(8)		(2)		(10)
Recoveries	—		1		1
Other	2		—		2
Balance, December 31, 2021	$	47	$	3	$	50


	Commercial Loans		Consumer Loans		Total
	(in millions)
Balance, December 31, 2019 (1)	$	51	$	—	$	51
Cumulative effect of adoption of current expected credit losses guidance	2		3		5
Balance, January 1, 2020	53		3		56
Provisions	19		2		21
Charge-offs	(6)		(3)		(9)

Balance, December 31, 2020	$	66	$	2	$	68

(1) Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset.


	Commercial Loans
	(in millions)
Balance at January 1, 2019	$	49
Provisions	5
Charge-offs	(4)
Recoveries of amounts previously written off	1
Balance at December 31, 2019	$	51


	Loans				Percentage
	December 31,				December 31,
	2021		2020		2021		2020
	(in millions)
East North Central	$	194	$	259	10	%	10	%
East South Central	57		115		3		4
Middle Atlantic	122		178		6		7
Mountain	119		247		6		9
New England	28		54		2		2
Pacific	627		825		33		30
South Atlantic	497		681		26		25
West North Central	141		198		7		7
West South Central	131		168		7		6
	1,916		2,725		100	%	100	%
Less: allowance for credit losses	12		29
Total	$	1,904	$	2,696

Concentrations of credit risk of commercial mortgage loans by property type were as follows:


	Loans				Percentage
	December 31,				December 31,
	2021		2020		2021		2020
	(in millions)
Apartments	$	496	$	713	26	%	26	%
Hotel	14		50		1		2
Industrial	319		427		17		16
Mixed use	68		87		3		3
Office	271		372		14		14
Retail	617		881		32		32
Other	131		195		7		7
	1,916		2,725		100	%	100	%
Less: allowance for credit losses	12		29
Total	$	1,904	$	2,696


	December 31, 2021
Loan-to-Value Ratio	2021		2020		2019		2018		2017		Prior		Total
	(in millions)
> 100%	$	—	$	—	$	20	$	10	$	—	$	29	$	59
80% - 100%	9		2		9		2		—		29		51
60% - 80%	142		80		60		23		61		138		504
40% - 60%	42		33		86		74		57		401		693
< 40%	11		8		48		6		58		478		609
Total	$	204	$	123	$	223	$	115	$	176	$	1,075	$	1,916


	December 31, 2020
Loan-to-Value Ratio	2020		2019		2018		2017		2016		Prior		Total
	(in millions)
> 100%	$	—	$	—	$	2	$	—	$	—	$	10	$	12
80% - 100%	15		16		12		3		7		15		68
60% - 80%	89		166		27		32		46		144		504
40% - 60%	23		57		74		155		113		551		973
< 40%	7		23		80		99		64		895		1,168
Total	$	134	$	262	$	195	$	289	$	230	$	1,615	$	2,725


	December 31, 2021
Termination Status	2021		2020		2019		2018		2017		Prior		Total
	(in millions)
Active	$	136	$	147	$	119	$	89	$	116	$	113	$	720
Terminated	1		1		—		—		—		6		8
Total	$	137	$	148	$	119	$	89	$	116	$	119	$	728


	December 31, 2020
Termination Status	2020		2019		2018		2017		2016		Prior		Total
	(in millions)
Active	$	171	$	137	$	101	$	127	$	83	$	86	$	705
Terminated	—		—		—		1		1		8		10
Total	$	171	$	137	$	101	$	128	$	84	$	94	$	715