EQUITY (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of June 30, 2022 and December 31, 2021 follow:

	June 30,		December 31,
	2022		2021
	(in millions)
Unrealized gains (losses) on investments	$	(201)	$	86
Accumulated other comprehensive income (loss)	$	(201)	$	86

Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The components of OCI, net of taxes for the three and six months ended June 30, 2022 and 2021, follow:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period	$	(159)	$	50	$	(335)	$	(59)
(Gains) losses reclassified into net income (loss) during the period (1)	2		—		3		(2)
Net unrealized gains (losses) on investments	(157)		50		(332)		(61)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	20		(13)		45		25
Other comprehensive income (loss), net of adjustments (net of deferred income tax expense (benefit) of $(37), $(30), $(77), and $((10))	(137)		37		(287)		(36)
Other comprehensive income (loss)	$	(137)	$	37	$	(287)	$	(36)

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(1)See “Reclassification adjustments” in Note 3 of the Notes to these Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(1) million, $0 million, $(1) million and $1 million for the three and six months ended June 30, 2022 and 2021, respectively.