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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Net investment income $ 387,000,000 $ 420,000,000 $ 771,000,000 $ 869,000,000
Fee income 247,000,000 246,000,000 484,000,000 509,000,000
Premiums 6,000,000 5,000,000 9,000,000 8,000,000
Other revenue 3,000,000 17,000,000 9,000,000 28,000,000
Total revenues 591,000,000 553,000,000 1,196,000,000 1,097,000,000
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 178,000,000 203,000,000 362,000,000 379,000,000
Operating expenses 278,000,000 303,000,000 581,000,000 599,000,000
Net amortization of Deferred policy acquisition costs and Value of business acquired 20,000,000 20,000,000 39,000,000 41,000,000
Total benefits and expenses 478,000,000 527,000,000 984,000,000 1,020,000,000
Income tax expense (benefit) 13,000,000 (6,000,000) 22,000,000 (7,000,000)
Net income (loss) 100,000,000 32,000,000 190,000,000 84,000,000
Net investment income 387,000,000 420,000,000 771,000,000 869,000,000
Fee income 247,000,000 246,000,000 484,000,000 509,000,000
Premiums 6,000,000 5,000,000 9,000,000 8,000,000
Realized capital gains (losses) (53,000,000) (136,000,000) (78,000,000) (318,000,000)
Other revenue 3,000,000 17,000,000 9,000,000 28,000,000
Revenues 591,000,000 553,000,000 1,196,000,000 1,097,000,000
Interest credited and other benefits to contract owners/policyholders 178,000,000 203,000,000 362,000,000 379,000,000
Operating expenses 278,000,000 303,000,000 581,000,000 599,000,000
Net amortization of Deferred policy acquisition costs and Value of business acquired 20,000,000 20,000,000 39,000,000 41,000,000
Interest Expense 1,000,000 0 1,000,000 0
Benefits, Losses and Expenses 478,000,000 527,000,000 984,000,000 1,020,000,000
Income tax expense (benefit) 13,000,000 (6,000,000) 22,000,000 (7,000,000)
Net income (loss) 100,000,000 32,000,000 190,000,000 84,000,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 113,000,000 26,000,000 212,000,000 77,000,000
Broker-dealer commission revenue 1,000,000 1,000,000 1,000,000 1,000,000
Broker-Dealer Commission Expense $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000