DAC, VOBA, AND DSI - PREDECESSOR COMPANY (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Deferred Policy Acquisition Costs

The balances of and changes in DAC are disclosed below for the respective periods.

	Three Months Ended March 31		Year Ended December 31
	2022		2021
	(in millions)
Balance, beginning of period	$	567	$	4,238
Capitalization of commissions, sales and issue expenses	—		200
Amortization - Impact of assumption and experience unlocking and true-ups	(69)		4
Amortization - All other	(35)		(384)
Change due to unrealized investment gains and losses	6		347
Other(1)	—		(3,838)
Balance, end of period	$	469	$	567

(1) 2021 includes the impact of the 2021 Variable Annuities Recapture as well as the ceding of DAC upon the Affiliated Reinsurance Agreement with Pruco Life. See Note 8 for additional information.

Present Value of Future Insurance Profits

The balances of and changes in VOBA are disclosed below for the respective periods.

	Three Months Ended March 31		Year Ended December 31
	2022		2021
	(in millions)
Balance, beginning of period	$	28	$	27
Amortization - Impact of assumption and experience unlocking and true-ups	(2)		4
Amortization - All other	(2)		(6)
Interest	—		2
Change due to unrealized investment gains and losses	1		1
Balance, end of period	$	25	$	28

Deferred Sale Inducement Cost

The balances of and changes in DSI are disclosed below for the respective periods.

	Three Months Ended March 31		Year Ended December 31
	2022		2021
	(in millions)
Balance, beginning of period	$	295	$	715
Capitalization	—		1
Amortization - Impact of assumption and experience unlocking and true-ups	(37)		15
Amortization - All other	(17)		(112)
Change in unrealized investment gains and losses	3		64
Other(1)	—		(388)
Balance, end of period	$	244	$	295

(1) Represents the impact of the 2021 Variable Annuities recapture. See Note 8 for additional information.