2022 Q4 Form 10-Q Financial Statement

#000113777422000110 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $13.33B $20.48B
YoY Change -18.81% -5.36%
Cost Of Revenue $16.58B
YoY Change 15.14%
Gross Profit $3.899B
YoY Change -46.15%
Gross Profit Margin 19.04%
Selling, General & Admin $3.423B $3.148B
YoY Change -23.7% -21.06%
% of Gross Profit 80.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.00M $485.0M
YoY Change -47.01% -8.32%
% of Gross Profit 12.44%
Operating Expenses $13.14B $20.92B
YoY Change -5.95% 5.46%
Operating Profit -$17.02B
YoY Change 35.12%
Interest Expense $410.0M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$713.0M -$437.0M
YoY Change -151.37% -124.2%
Income Tax -$164.0M -$148.0M
% Of Pretax Income
Net Earnings -$564.0M -$284.0M
YoY Change -146.69% -118.56%
Net Earnings / Revenue -4.23% -1.39%
Basic Earnings Per Share -$0.16 -$0.78
Diluted Earnings Per Share -$1.53 -$0.78
COMMON SHARES
Basic Shares Outstanding 368.0M shares 372.0M shares
Diluted Shares Outstanding 371.0M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $17.25B $20.10B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $876.0M
YoY Change -51.44%
Intangibles $518.0M
YoY Change -16.32%
Long-Term Investments $417.4B $405.2B
YoY Change -15.19% -17.09%
Other Assets $48.00M $48.00M
YoY Change -99.97% -99.97%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $689.9B $677.8B
YoY Change -26.42% -27.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $620.0M $439.0M
YoY Change 18.1% 15.83%
Long-Term Debt Due $155.0M $328.0M
YoY Change -21.32% -38.11%
Total Short-Term Liabilities $1.469B $1.432B
YoY Change -92.25% -92.8%
LONG-TERM LIABILITIES
Long-Term Debt $19.91B $19.90B
YoY Change 6.91% 6.48%
Other Long-Term Liabilities $20.54B $20.47B
YoY Change -87.41% -87.28%
Total Long-Term Liabilities $19.91B $19.90B
YoY Change 6.91% 6.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.469B $1.432B
Total Long-Term Liabilities $19.91B $19.90B
Total Liabilities $672.7B $660.6B
YoY Change -23.12% -24.07%
SHAREHOLDERS EQUITY
Retained Earnings $33.39B $34.40B
YoY Change -8.89% -4.15%
Common Stock $25.75B $25.71B
YoY Change 0.06% 0.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.07B $22.74B
YoY Change 5.63% 5.64%
Treasury Stock Shares 300.3M shares 297.2M shares
Shareholders Equity $16.25B $16.50B
YoY Change
Total Liabilities & Shareholders Equity $689.9B $677.8B
YoY Change -26.42% -27.32%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$564.0M -$284.0M
YoY Change -146.69% -118.56%
Depreciation, Depletion And Amortization $62.00M $485.0M
YoY Change -47.01% -8.32%
Cash From Operating Activities -$2.693B $4.278B
YoY Change -180.8% -21.03%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$3.376B -$1.022B
YoY Change -43.16% -60.16%
Cash From Investing Activities -$3.376B -$1.022B
YoY Change -43.16% -60.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 858.0M 2.611B
YoY Change 66.28% -403.6%
NET CHANGE
Cash From Operating Activities -2.693B 4.278B
Cash From Investing Activities -3.376B -1.022B
Cash From Financing Activities 858.0M 2.611B
Net Change In Cash -5.211B 5.867B
YoY Change 149.33% 194.53%
FREE CASH FLOW
Cash From Operating Activities -$2.693B $4.278B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization; policyholders’ account balances related to the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products; value of business acquired (“VOBA”) and its amortization; amortization of deferred sales inducements (“DSI”); measurement of goodwill and any related impairment; valuation of investments including derivatives, measurement of allowance for credit losses, and the recognition of other-than-temporary impairments (“OTTI”); future policy benefits including guarantees; pension and other postretirement benefits; provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters.</span></div>
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts in prior periods have been reclassified to conform to the current period presentation.</span></div>
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CY2022Q3 pru Carryingvalueofloansheldforsale
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CY2021Q4 pru Carryingvalueofloansheldforsale
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CY2022Q3 us-gaap Allowance For Loan And Lease Losses Adjustments Net
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CY2021Q3 us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
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CY2021Q3 us-gaap Allowance For Loan And Lease Losses Adjustments Net
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us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
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us-gaap Allowance For Loan And Lease Losses Adjustments Net
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us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
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pru Allowance For Loan And Lease Losses Reclassifiedto Asset Held For Sale
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CY2022Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2021Q4 us-gaap Notes Receivable Gross
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us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
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us-gaap Investment Income Investment Expense
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us-gaap Investment Income Investment Expense
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us-gaap Net Investment Income
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us-gaap Realized Investment Gains Losses
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us-gaap Realized Investment Gains Losses
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CY2021Q4 pru Net Unrealized Gains Losseson Investments
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CY2022Q3 us-gaap Derivative Assets
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CY2022Q3 us-gaap Derivative Notional Amount
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CY2022Q3 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Net
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CY2022Q3 us-gaap Securities Sold Under Agreements To Repurchase
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CY2022Q3 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
7647000000 usd
CY2022Q3 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
576000000 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
35676000000 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
24251000000 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
11425000000 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
10275000000 usd
CY2022Q3 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
1150000000 usd
CY2021Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
17272000000 usd
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
14150000000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
3122000000 usd
CY2021Q4 us-gaap Derivative Asset Fair Value Of Collateral
DerivativeAssetFairValueOfCollateral
802000000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
2320000000 usd
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Gross
SecuritiesPurchasedUnderAgreementsToResellGross
704000000 usd
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
0 usd
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
704000000 usd
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Fair Value Of Collateral
SecuritiesPurchasedUnderAgreementsToResellFairValueOfCollateral
704000000 usd
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Amount Offset Against Collateral
SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral
0 usd
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
17976000000 usd
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
14150000000 usd
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
3826000000 usd
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Securities
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedCollateralObligationToReturnSecurities
1506000000 usd
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Amount Offset Against Collateral
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedAmountOffsetAgainstCollateral
2320000000 usd
CY2021Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
19587000000 usd
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
17314000000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
2273000000 usd
CY2021Q4 us-gaap Derivative Liability Fair Value Of Collateral
DerivativeLiabilityFairValueOfCollateral
797000000 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
1476000000 usd
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
10185000000 usd
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 usd
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
10185000000 usd
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
9699000000 usd
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
486000000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
29772000000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
17314000000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
12458000000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
10496000000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
1962000000 usd
CY2022Q3 pru Non Derivative Aoci Net Investment Hedge Before Tax
NonDerivativeAOCINetInvestmentHedgeBeforeTax
2000000 usd
pru Non Derivative Aoci Net Investment Hedge Before Tax
NonDerivativeAOCINetInvestmentHedgeBeforeTax
134000000 usd
CY2021Q3 pru Non Derivative Aoci Net Investment Hedge Before Tax
NonDerivativeAOCINetInvestmentHedgeBeforeTax
-7000000 usd
pru Non Derivative Aoci Net Investment Hedge Before Tax
NonDerivativeAOCINetInvestmentHedgeBeforeTax
7000000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
311000000 usd
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P29Y
CY2022Q3 pru Accumulated Other Comprehensive Income Loss Net Investment Hedge Before Tax
AccumulatedOtherComprehensiveIncomeLossNetInvestmentHedgeBeforeTax
26000000 usd
pru Accumulated Other Comprehensive Income Loss Net Investment Hedge Before Tax
AccumulatedOtherComprehensiveIncomeLossNetInvestmentHedgeBeforeTax
166000000 usd
CY2021Q3 pru Accumulated Other Comprehensive Income Loss Net Investment Hedge Before Tax
AccumulatedOtherComprehensiveIncomeLossNetInvestmentHedgeBeforeTax
-6000000 usd
pru Accumulated Other Comprehensive Income Loss Net Investment Hedge Before Tax
AccumulatedOtherComprehensiveIncomeLossNetInvestmentHedgeBeforeTax
-5000000 usd
CY2022Q3 us-gaap Credit Derivative Maximum Exposure Undiscounted
CreditDerivativeMaximumExposureUndiscounted
11625000000 usd
CY2022Q3 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
-192000000 usd
CY2021Q4 us-gaap Credit Derivative Maximum Exposure Undiscounted
CreditDerivativeMaximumExposureUndiscounted
3374000000 usd
CY2021Q4 us-gaap Credit Risk Derivatives At Fair Value Net
CreditRiskDerivativesAtFairValueNet
128000000 usd
CY2022Q3 pru Credit Derivative Protection Purchased Notional Amount
CreditDerivativeProtectionPurchasedNotionalAmount
1256000000 usd
CY2021Q4 pru Credit Derivative Protection Purchased Notional Amount
CreditDerivativeProtectionPurchasedNotionalAmount
115000000 usd
CY2022Q3 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
19460000000 usd
CY2022Q3 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
19460000000 usd
CY2022Q3 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
19460000000 usd
CY2022Q3 us-gaap Derivative Assets
DerivativeAssets
1914000000 usd
CY2022Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
24251000000 usd
CY2022Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
24251000000 usd
CY2022Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
24251000000 usd
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
3203000000 usd
CY2021Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
14150000000 usd
CY2021Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
14150000000 usd
CY2021Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
14150000000 usd
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
3266000000 usd
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
17314000000 usd
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
17314000000 usd
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
17314000000 usd
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
2278000000 usd
CY2022Q3 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
0 usd
us-gaap Schedule Of Closed Block Assets And Liabilities
ScheduleOfClosedBlockAssetsAndLiabilities
<div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Closed Block liabilities and assets designated to the Closed Block, as well as maximum future earnings to be recognized from these liabilities and assets, are as follows:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:74.923%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.157%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.160%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30,<br/>2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,<br/>2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(in millions)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Closed Block liabilities</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Future policy benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44,615 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45,596 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policyholders’ dividends payable</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">612 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">616 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policyholders’ dividend obligation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,027 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policyholders’ account balances</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,634 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,737 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other Closed Block liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,634 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,107 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Closed Block liabilities</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52,495 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62,083 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Closed Block assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed maturities, available-for-sale, at fair value</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,442 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,160 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed maturities, trading, at fair value</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">887 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,137 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity securities, at fair value</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,599 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,288 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Commercial mortgage and other loans</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,070 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,241 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policy loans</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,665 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,815 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other invested assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,118 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,358 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Short-term investments</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">137 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">557 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47,918 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,556 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,076 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">451 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accrued investment income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">423 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">392 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other Closed Block assets</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">137 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Closed Block assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49,518 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59,536 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Excess of reported Closed Block liabilities over Closed Block assets</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,977 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,547 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Portion of above representing accumulated other comprehensive income (loss):</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net unrealized investment gains (losses)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,113)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,535 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Allocated to policyholder dividend obligation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,640)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Future earnings to be recognized from Closed Block assets and Closed Block liabilities</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,366 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,442 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2022Q3 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
44615000000 usd
CY2021Q4 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
45596000000 usd
CY2022Q3 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
612000000 usd
CY2021Q4 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
616000000 usd
CY2022Q3 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
0 usd
CY2021Q4 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
8027000000 usd
CY2022Q3 us-gaap Closed Block Liabilities Other Policyholder Funds
ClosedBlockLiabilitiesOtherPolicyholderFunds
4634000000 usd
CY2021Q4 us-gaap Closed Block Liabilities Other Policyholder Funds
ClosedBlockLiabilitiesOtherPolicyholderFunds
4737000000 usd
CY2022Q3 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
2634000000 usd
CY2021Q4 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
3107000000 usd
CY2022Q3 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
52495000000 usd
CY2021Q4 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
62083000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Fixed Maturity Available For Sale At Fair Value
AssetsDesignatedToClosedBlockFixedMaturityAvailableForSaleAtFairValue
29442000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Fixed Maturity Available For Sale At Fair Value
AssetsDesignatedToClosedBlockFixedMaturityAvailableForSaleAtFairValue
38160000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Trading Securities Debt
AssetsDesignatedToClosedBlockTradingSecuritiesDebt
887000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Trading Securities Debt
AssetsDesignatedToClosedBlockTradingSecuritiesDebt
1137000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Equity Securities At Fair Value
AssetsDesignatedToClosedBlockEquitySecuritiesAtFairValue
1599000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Equity Securities At Fair Value
AssetsDesignatedToClosedBlockEquitySecuritiesAtFairValue
2288000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Mortgage Loans On Real Estate
AssetsDesignatedToClosedBlockMortgageLoansOnRealEstate
8070000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Mortgage Loans On Real Estate
AssetsDesignatedToClosedBlockMortgageLoansOnRealEstate
8241000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Policy Loans
AssetsDesignatedToClosedBlockPolicyLoans
3665000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Policy Loans
AssetsDesignatedToClosedBlockPolicyLoans
3815000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Other Investments
AssetsDesignatedToClosedBlockOtherInvestments
4118000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Other Investments
AssetsDesignatedToClosedBlockOtherInvestments
4358000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Short Term Investments
AssetsDesignatedToClosedBlockShortTermInvestments
137000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Short Term Investments
AssetsDesignatedToClosedBlockShortTermInvestments
557000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Investments
AssetsDesignatedToClosedBlockInvestments
47918000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Investments
AssetsDesignatedToClosedBlockInvestments
58556000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Cash And Cash Equivalents
AssetsDesignatedToClosedBlockCashAndCashEquivalents
1076000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Cash And Cash Equivalents
AssetsDesignatedToClosedBlockCashAndCashEquivalents
451000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Accrued Investment Income
AssetsDesignatedToClosedBlockAccruedInvestmentIncome
423000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Accrued Investment Income
AssetsDesignatedToClosedBlockAccruedInvestmentIncome
392000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block Other Closed Block Assets1
AssetsDesignatedToClosedBlockOtherClosedBlockAssets1
101000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block Other Closed Block Assets1
AssetsDesignatedToClosedBlockOtherClosedBlockAssets1
137000000 usd
CY2022Q3 us-gaap Assets Designated To Closed Block
AssetsDesignatedToClosedBlock
49518000000 usd
CY2021Q4 us-gaap Assets Designated To Closed Block
AssetsDesignatedToClosedBlock
59536000000 usd
CY2022Q3 us-gaap Excess Of Reported Closed Block Liabilities Over Assets Designated To Closed Block
ExcessOfReportedClosedBlockLiabilitiesOverAssetsDesignatedToClosedBlock
2977000000 usd
CY2021Q4 us-gaap Excess Of Reported Closed Block Liabilities Over Assets Designated To Closed Block
ExcessOfReportedClosedBlockLiabilitiesOverAssetsDesignatedToClosedBlock
2547000000 usd
CY2022Q3 us-gaap Closed Block Investments Available For Sale Change In Unrealized Appreciation
ClosedBlockInvestmentsAvailableForSaleChangeInUnrealizedAppreciation
-4113000000 usd
CY2021Q4 us-gaap Closed Block Investments Available For Sale Change In Unrealized Appreciation
ClosedBlockInvestmentsAvailableForSaleChangeInUnrealizedAppreciation
3535000000 usd
CY2022Q3 us-gaap Closed Block Assets And Liabilities Change In Policyholder Dividend Obligation
ClosedBlockAssetsAndLiabilitiesChangeInPolicyholderDividendObligation
3502000000 usd
CY2021Q4 us-gaap Closed Block Assets And Liabilities Change In Policyholder Dividend Obligation
ClosedBlockAssetsAndLiabilitiesChangeInPolicyholderDividendObligation
-3640000000 usd
CY2022Q3 us-gaap Closed Block Assets And Liabilities Maximum Future Earnings To Be Recognized
ClosedBlockAssetsAndLiabilitiesMaximumFutureEarningsToBeRecognized
2366000000 usd
CY2021Q4 us-gaap Closed Block Assets And Liabilities Maximum Future Earnings To Be Recognized
ClosedBlockAssetsAndLiabilitiesMaximumFutureEarningsToBeRecognized
2442000000 usd
CY2021Q4 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
8027000000 usd
us-gaap Closed Block Dividend Obligation Increase Decrease For Effect Of Operating Results
ClosedBlockDividendObligationIncreaseDecreaseForEffectOfOperatingResults
-885000000 usd
us-gaap Closed Block Dividend Obligation Change In Unrealized Investment Gains Losses
ClosedBlockDividendObligationChangeInUnrealizedInvestmentGainsLosses
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CY2022Q3 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
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