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DAC AND OTHER DEFERRED ASSETS/LIABILITIES
 12 Months Ended
Dec. 31, 2022
Contract holder Bonus Interest Credits [Abstract]  
DAC AND OTHER DEFERRED ASSETS/LIABILITIES DAC AND OTHER DEFERRED ASSETS/LIABILITIES
Changes in the DAC asset for the years ended December 31, 2022 and 2021 were as follows:
December 31, 2022VUL (1)IUL (2)GMxB CoreInvestment
Edge		SCSMomentumTotal
(in millions)
Balance beginning of the year$361 $297 $14 $— $— $— $672 
Capitalization 70 16 28 1 13 — 128 
Amortization (3)
(21)(17)(2)— — — (40)
Balance, December 31, 2022$410 $296 $40 $1 $13 $— $760 
______________
(1)    “VUL” defined as Variable Universal Life.
(2)    “IUL” defined as Indexed Universal Life.
(3)     DAC amortization of $1 million related to Other not reflected in table above.

December 31, 2021VUL (1)IUL (2)GMxB CoreInvestment
Edge		SCSMomentumTotal
(in millions)
Balance beginning of the year$300 $287 $— $— $— $— $587 
Capitalization 79 27 14 — — — 120 
Amortization (3)
(18)(17)— — — — (35)
Balance, December 31, 2021$361 $297 $14 $— $— $— $672 
______________
(1)    “VUL” defined as Variable Universal Life.
(2)    “IUL” defined as Indexed Universal Life.
(3)     DAC amortization of $1 million related to Other not reflected in table above.


Prior to the Company’s adoption of ASU 2018-12 effective January 1, 2021, changes in the DAC asset for the year ended 2020 were as follows:
 Year Ended December 31,
 2020
(in millions)
Balance, beginning of year$471 
Capitalization of commissions, sales and issue expenses95 
Amortization:
Impact of assumptions updates and model changes(8)
All other(23)
Total amortization(31)
Change in unrealized investment gains and losses(58)
Balance, end of year$477 


Changes in the Sales Inducement Assets for the years ended December 31, 2022 and 2021 were as follows:
December 31, 2022December 31, 2021
GMxB CoreGMxB Core
(in millions)
Balance beginning of the year$— $— 
Capitalization1 — 
Amortization— — 
Balance, end of the year$1 $— 

Changes in the Unearned Revenue Liability for the years ended December 31, 2022, and 2021 were as follows:
December 31, 2022December 31, 2021
VULIULVULIUL
(in millions)
Balance beginning of the year$118 $94 $85 $24 
Capitalization49 71 40 74 
Amortization(8)(8)(7)(4)
Balance, end of the year$159 $157 $118 $94 


The following table presents a reconciliation of DAC to the balance sheet.
December 31,
20222021
(in millions)
VUL
$410 $361 
IUL296 297 
GMxB Core
40 14 
Investment Edge1 — 
SCS13 — 
Total$760 $672 

Annually, or as circumstances warrant, we will review the associated decrements assumptions. (i.e. mortality and lapse) based on our multi-year average of companies experience with actuarial judgements to reflect other observable industry trends. In addition to DAC, the Unearned Revenue Liability and Sales Inducement Asset (“SIA”) use similar techniques and quarterly update processes for balance amortization.
During the third quarter of 2022 and 2021, we completed our annual assumption update and the impact to the current period amortization of DAC and DAC like balances due to the new assumptions is immaterial. There were as no other material changes to the inputs, judgements or calculation processes used in the DAC calculation this period or year.