Offsetting Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

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:


	March 31, 2023
	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	$	3,436	$	—	$	3,436	$	(2,715)	$	(608)	$	(77)	$	36
OTC cleared	105		—		105		(47)		—		—		58
Exchange-traded	93		—		93		(90)		—		—		3
Total derivatives	3,634		—		3,634		(2,852)		(608)		(77)		97
Securities borrowed	162		—		162		(65)		—		(97)		—
Total	$	3,796	$	—	$	3,796	$	(2,917)	$	(608)	$	(174)	$	97


	December 31, 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	$	2,900	$	—	$	2,900	$	(2,322)	$	(568)	$	(5)	$	5
OTC cleared	23		—		23		(9)		—		—		14
Exchange-traded	97		—		97		(75)		—		—		22
Total derivatives	3,020		—		3,020		(2,406)		(568)		(5)		41
Securities borrowed	199		—		199		(31)		—		(164)		4
Total	$	3,219	$	—	$	3,219	$	(2,437)	$	(568)	$	(169)	$	45

(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:


	March 31, 2023
	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	$	2,909	$	—	$	2,909	$	(2,715)	$	(54)	$	(133)	$	7
OTC cleared	47		—		47		(47)		—		—		—
Exchange-traded	136		—		136		(90)		—		(4)		42
Total derivatives	3,092		—		3,092		(2,852)		(54)		(137)		49
Securities loaned	208		—		208		(65)		—		(140)		3
Total	$	3,300	$	—	$	3,300	$	(2,917)	$	(54)	$	(277)	$	52


	December 31, 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	$	2,646	$	—	$	2,646	$	(2,322)	$	(43)	$	(277)	$	4
OTC cleared	9		—		9		(9)		—		—		—
Exchange-traded	93		—		93		(75)		—		(17)		1
Total derivatives	2,748		—		2,748		(2,406)		(43)		(294)		5
Securities loaned	235		—		235		(31)		—		(197)		7
Total	$	2,983	$	—	$	2,983	$	(2,437)	$	(43)	$	(491)	$	12

(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.