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DAC AND OTHER DEFERRED ASSETS/LIABILITIES
 3 Months Ended
Mar. 31, 2024
Contract Holder Bonus Interest Credits [Abstract]  
DAC AND OTHER DEFERRED ASSETS/LIABILITIES DAC AND OTHER DEFERRED ASSETS/LIABILITIES
The following table presents a reconciliation of DAC to the consolidated balance sheets:
March 31, 2024December 31, 2023
(in millions)
VUL$467 $457 
IUL290 293 
GMxB Core
144 119 
Investment Edge31 22 
SCS375 289 
Other41 32 
Total$1,348 $1,212 
Annually, or as circumstances warrant, we 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.
Changes in the DAC asset were as follows:
Three Months Ended March 31, 2024
VUL (1)IUL (2)GMxB CoreIE (3)SCSTotal
(in millions)
Balance, beginning of period$457 $293 $119 $22 $289 $1,180 
Capitalization16 2 28 10 98 154 
Amortization
(6)(5)(3)(1)(12)(27)
Balance, end of period$467 $290 $144 $31 $375 $1,307 
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(1)“VUL” defined as Variable Universal Life.
(2)“IUL” defined as Indexed Universal Life.
(3)“IE” defined as Investment Edge.
Three Months Ended March 31, 2023
VUL
IUL
GMxB Core
IE
SCSTotal
(in millions)
Balance, beginning of period$410 $296 $40 $1 $13 $760 
Capitalization 17 3 9 5 42 76 
Amortization
(6)(4)(1)— (1)(12)
Balance, end of period$421 $295 $48 $6 $54 $824 
Changes in the unearned revenue liability were as follows:
Three Months Ended March 31,
20242023
VULIULVULIUL
(in millions)
Balance, beginning of period$203 $210 $159 $157 
Capitalization15 14 13 17 
Amortization(3)(3)(2)(3)
Balance, end of period$215 $221 $170 $171