Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of amounts related to each component of OCI

The following tables provide the amounts related to each component of OCI:

	Year Ended December 31, 2022
	Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	(4,146)	$	918	$	(3,228)
Reclassification of net (gains) losses on securities included in net income (2)	85		(18)		67
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	821		(172)		649
Net unrealized gains (losses) on securities	(3,240)		728		(2,512)
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	(1)		—		(1)
Net unrealized gains (losses) on derivatives	(1)		—		(1)
Defined benefit plans:
Prior service credits and costs	(1)		—		(1)
Net gains (losses)	97		(20)		77
Defined benefit plans	96		(20)		76
Foreign currency translation	(216)		45		(171)
Total other comprehensive income (loss)	$	(3,361)	$	753	$	(2,608)

	Year Ended December 31, 2021
	Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	(622)	$	137	$	(485)
Reclassification of net (gains) losses on securities included in net income (2)	(561)		118		(443)
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables(4)	322		(67)		255
Net unrealized gains (losses) on securities	(861)		188		(673)
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	(1)		—		(1)
Net unrealized gains (losses) on derivatives	(1)		—		(1)
Defined benefit plans:
Prior service credits and costs	(3)		1		(2)
Net gains (losses)	70		(15)		55
Defined benefit plans	67		(14)		53
Foreign currency translation	(16)		3		(13)
Total other comprehensive income (loss)	$	(811)	$	177	$	(634)

	Year Ended December 31, 2020
	Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	907	$	(192)	$	715
Reclassification of net (gains) losses on securities included in net income (2)	(11)		2		(9)
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables(4)	(274)		57		(217)
Net unrealized gains (losses) on securities	622		(133)		489
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	(2)		1		(1)
Net unrealized gains (losses) on derivatives	(2)		1		(1)
Defined benefit plans:
Prior service credits	(2)		—		(2)
Net gains (losses)	(82)		18		(64)
Defined benefit plans	(84)		18		(66)
Foreign currency translation	32		(5)		27
Total other comprehensive income (loss)	$	568	$	(119)	$	449

(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period.

(2) Reclassification amounts are recorded in Net investment income.

(3) Includes a $1 million, $1 million and $1 million pretax gain reclassified to Interest and debt expense and nil pretax loss reclassified to Net investment income for the years ended December 31, 2022, 2021 and 2020, respectively.

(4) See Note 28 for a summary of the revision to the Company’s previously reported Consolidated Financial Statements.

Schedule of changes in the balances of each component of AOCI

The following table presents the changes in the balances of each component of AOCI, net of tax:

	Net Unrealized Gains (Losses) on Securities		Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance at January 1, 2020	$	758	$	6	$	(138)	$	(181)	$	(1)	$	444
OCI before reclassifications	498		—		(66)		27		—		459
Amounts reclassified from AOCI	(9)		(1)		—		—		—		(10)
Total OCI	489		(1)		(66)		27		—		449
Balance at December 31, 2020	1,247		5		(204)		(154)		(1)		893
OCI before reclassifications	(230)		—		36		(13)		—		(207)
Amounts reclassified from AOCI	(443)		(1)		17		—		—		(427)
Total OCI	(673)		(1)		53		(13)		—		(634)
Balance at December 31, 2021	574		4		(151)		(167)		(1)		259
OCI before reclassifications	(2,579)		—		61		(171)		—		(2,689)
Amounts reclassified from AOCI	67		(1)		15		—		—		81
Total OCI	(2,512)		(1)		76		(171)		—		(2,608)
Balance at December 31, 2022	$	(1,938)	$	3	$	(75)	$	(338)	$	(1)	$	(2,349)