Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of gross and net information about assets subject to master netting arrangements

The following tables present the gross and net information about the Company’s assets subject to master netting arrangements:


	September 30, 2022
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	2,989	$	—	$	2,989	$	(2,391)	$	(554)	$	(7)	$	37
OTC cleared	105		—		105		(105)		—		—		—
Exchange-traded	118		—		118		(79)		—		—		39
Total derivatives	3,212		—		3,212		(2,575)		(554)		(7)		76
Securities borrowed	177		—		177		(40)		—		(132)		5
Total	$	3,389	$	—	$	3,389	$	(2,615)	$	(554)	$	(139)	$	81


	December 31, 2021
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	5,387	$	—	$	5,387	$	(3,613)	$	(1,637)	$	(114)	$	23
OTC cleared	88		—		88		(41)		—		—		47
Exchange-traded	99		—		99		(91)		—		—		8
Total derivatives	5,574		—		5,574		(3,745)		(1,637)		(114)		78
Securities borrowed	135		—		135		(41)		—		(91)		3
Total	$	5,709	$	—	$	5,709	$	(3,786)	$	(1,637)	$	(205)	$	81

(1) Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

Schedule of gross and net information about liabilities subject to master netting arrangements

The following tables present the gross and net information about the Company’s liabilities subject to master netting arrangements:


	September 30, 2022
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	2,836	$	—	$	2,836	$	(2,391)	$	(93)	$	(323)	$	29
OTC cleared	201		—		201		(105)		—		—		96
Exchange-traded	90		—		90		(79)		—		(9)		2
Total derivatives	3,127		—		3,127		(2,575)		(93)		(332)		127
Securities loaned	230		—		230		(40)		—		(182)		8
Total	$	3,357	$	—	$	3,357	$	(2,615)	$	(93)	$	(514)	$	135


	December 31, 2021
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	4,091	$	—	$	4,091	$	(3,613)	$	(183)	$	(292)	$	3
OTC cleared	41		—		41		(41)		—		—		—
Exchange-traded	91		—		91		(91)		—		—		—
Total derivatives	4,223		—		4,223		(3,745)		(183)		(292)		3
Securities loaned	207		—		207		(41)		—		(160)		6
Total	$	4,430	$	—	$	4,430	$	(3,786)	$	(183)	$	(452)	$	9

(1) Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.