XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
[1]
Revenues    
Net investment income $ 698 $ 261
Premiums, policy and contract charges 362 338
Other revenues 131 123
Total revenues 3,845 3,627
Banking and deposit interest expense 103 2
Total net revenues 3,742 3,625
Benefits and expenses    
Distribution expenses 1,226 1,300
Interest credited to fixed accounts 164 141
Benefits, claims, losses and settlement expenses 301 32
Remeasurement (gains) losses of future policy benefit reserves (5) (6)
Change in fair value of market risk benefits 489 100
Amortization of deferred acquisition costs 62 65
Interest and debt expense 72 40
General and administrative expense 937 947
Total benefits and expenses 3,246 2,619
Pretax income 496 1,006
Income tax provision 79 181
Net income $ 417 $ 825
Earnings per share    
Basic (in dollars per share) $ 3.86 $ 7.26
Diluted (in dollars per share) $ 3.79 $ 7.10
Management and financial advice fees    
Revenues    
Revenue from contracts with customers $ 2,137 $ 2,459
Distribution fees    
Revenues    
Revenue from contracts with customers $ 517 $ 446
[1] Certain prior period amounts have been restated. See Note 3 for more information.