XML 225 R184.htm IDEA: XBRL DOCUMENT v3.24.0.1
Income Taxes - Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Effective Income Tax Rate (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
(Loss) income before income taxes $ (348) $ (1,830) $ 6,466
Statutory federal income tax rate on income from operations (73) (384) 1,357
Tax credits (47) (55) (42)
Tax-exempt income (23) (17) (18)
U.S. shareholder’s tax (benefit) expense (17) 13 4
Share-based payments (14) (22) (18)
State income taxes (7) 0 13
Dividend received deduction (4) (7) (5)
Uncertain tax positions 33 2 0
Change in valuation allowance 6 10 (3)
Other 11 (28) 4
Total income tax (benefit) expense $ (135) $ (488) $ 1,292
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Statutory federal income tax rate on income from operations 21.00% 21.00% 21.00%
Tax credits 13.50% 3.00% (0.60%)
Tax-exempt income 6.60% 0.90% (0.30%)
U.S. shareholder’s tax (benefit) expense 4.90% (0.70%) 0.10%
Share-based payments 4.00% 1.20% (0.30%)
State income taxes 2.00% 0.00% 0.20%
Dividend received deduction 1.10% 0.40% (0.10%)
Uncertain tax positions (9.50%) (0.10%) 0.00%
Change in valuation allowance (1.70%) (0.60%) (0.10%)
Other (3.10%) 1.60% 0.10%
Effective income tax rate on income from operations 38.80% 26.70% 20.00%