2023 Q2 Form 10-Q Financial Statement

#000113777423000067 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $13.50B $17.05B $13.22B
YoY Change 3.66% 28.98% -22.04%
Cost Of Revenue $7.661B $10.30B $8.868B
YoY Change -20.3% 16.19% 9.35%
Gross Profit $5.837B $6.741B $4.347B
YoY Change 71.22% 55.07% -50.84%
Gross Profit Margin 43.24% 39.55% 32.89%
Selling, General & Admin $3.446B $3.523B $3.446B
YoY Change 28.87% 2.23% -12.07%
% of Gross Profit 59.04% 52.26% 79.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $366.0M $41.00M $18.00M
YoY Change -37.01% 127.78% -40.0%
% of Gross Profit 6.27% 0.61% 0.41%
Operating Expenses $12.88B $15.20B $13.33B
YoY Change -4.84% 14.01% -1.54%
Operating Profit -$7.040B -$8.457B -$8.983B
YoY Change -30.46% -5.86% 91.29%
Interest Expense $459.0M $441.0M $365.0M
YoY Change 14.46% 20.82%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $621.0M $1.847B -$115.0M
YoY Change -221.53% -1706.09% -103.37%
Income Tax $123.0M $382.0M -$69.00M
% Of Pretax Income 19.81% 20.68%
Net Earnings $511.0M $1.462B -$31.00M
YoY Change -190.44% -4816.13% -101.1%
Net Earnings / Revenue 3.79% 8.58% -0.23%
Basic Earnings Per Share $1.38 $3.94 -$0.10
Diluted Earnings Per Share $1.38 $3.93 -$0.10
COMMON SHARES
Basic Shares Outstanding 365.0M shares 366.0M shares 376.1M shares
Diluted Shares Outstanding 366.1M shares 367.7M shares 376.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $14.65B $17.43B $14.09B
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
YoY Change
Intangibles
YoY Change
Long-Term Investments $425.3B $432.1B $460.3B
YoY Change 1.66% -6.14% -11.27%
Other Assets $42.00M $48.00M $142.2B
YoY Change -23.64% -99.97%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $697.3B $709.3B $878.1B
YoY Change 0.25% -19.22% -3.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $507.0M $623.0M $394.0M
YoY Change 26.75% 58.12% -2.72%
Long-Term Debt Due $256.0M $82.00M $150.0M
YoY Change 62.03% -45.33% -67.53%
Total Short-Term Liabilities $1.821B $2.709B $10.63B
YoY Change -35.29% -74.52% -38.81%
LONG-TERM LIABILITIES
Long-Term Debt $18.88B $20.45B $19.69B
YoY Change -3.75% 3.87% -0.21%
Other Long-Term Liabilities $21.72B $20.54B $152.5B
YoY Change 13.04% -86.53% 668.0%
Total Long-Term Liabilities $18.88B $20.45B $19.69B
YoY Change -3.75% 3.87% -0.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.821B $2.709B $10.63B
Total Long-Term Liabilities $18.88B $20.45B $19.69B
Total Liabilities $667.8B $676.8B $833.4B
YoY Change 0.18% -18.79% -1.78%
SHAREHOLDERS EQUITY
Retained Earnings $32.76B $32.71B $36.16B
YoY Change -6.78% -9.54% 9.21%
Common Stock $25.68B $25.65B $25.67B
YoY Change 0.06% -0.06% 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.36B $23.15B $22.05B
YoY Change 4.31% 4.97% 10.93%
Treasury Stock Shares 300.4M shares 290.6M shares
Shareholders Equity $28.43B $31.39B $43.98B
YoY Change
Total Liabilities & Shareholders Equity $697.3B $709.3B $878.1B
YoY Change 0.25% -19.22% -3.22%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $511.0M $1.462B -$31.00M
YoY Change -190.44% -4816.13% -101.1%
Depreciation, Depletion And Amortization $366.0M $41.00M $18.00M
YoY Change -37.01% 127.78% -40.0%
Cash From Operating Activities $1.224B $1.343B $1.000M
YoY Change -61.82% 134200.0% -100.03%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$2.840B $68.00M -$29.00M
YoY Change -23.96% -334.48% -141.43%
Cash From Investing Activities -$2.840B -$3.303B $495.0M
YoY Change -23.96% -767.27% -92.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $364.0M
YoY Change 1.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.015B $2.129B $426.0M
YoY Change -197.78% 399.77% -163.58%
NET CHANGE
Cash From Operating Activities 1.224B $1.343B $1.000M
Cash From Investing Activities -2.840B -$3.303B $495.0M
Cash From Financing Activities -1.015B $2.129B $426.0M
Net Change In Cash -2.631B $174.0M $1.202B
YoY Change -616.9% -85.52% -47.65%
FREE CASH FLOW
Cash From Operating Activities $1.224B $1.343B $1.000M
Capital Expenditures
Free Cash Flow
YoY Change

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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><br/></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><br/></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 future policy benefits; 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; market risk benefits; the measurement of goodwill and any related impairment; the valuation of investments including derivatives, the measurement of allowance for credit losses, and the recognition of other-than-temporary impairments (“OTTI”); pension and other postretirement benefits; any provision for income taxes and valuation of deferred tax </span></div>assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters.
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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><br/></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 for reasons unrelated to the adoption of ASU 2018-12 to conform to the current period presentation.</span></div>
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CY2023Q1 us-gaap Schedule Of Closed Block Assets And Liabilities
ScheduleOfClosedBlockAssetsAndLiabilities
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:<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%">March 31,<br/>2023</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/>2022</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%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44,119 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</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%">44,414 </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%">629 </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%">617 </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%">770 </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%">0 </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%">4,572 </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%">4,607 </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%">3,364 </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%">3,499 </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%">53,454 </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%">53,137 </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%">30,716 </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%">29,898 </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%">868 </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%">900 </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%">1,843 </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%">1,733 </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%">7,781 </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%">7,926 </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%">3,586 </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%">3,637 </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%">4,828 </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%">4,254 </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%">331 </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%">337 </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%">49,953 </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%">48,685 </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%">484 </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%">1,307 </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%">430 </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%">402 </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%">127 </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%">162 </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%">50,994 </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%">50,556 </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;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%">2,460 </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%">2,581 </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%">(2,570)</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%">(3,458)</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%">2,412 </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%">3,207 </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%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,302 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</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%">2,330 </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>
CY2023Q1 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
44119000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
44414000000 usd
CY2023Q1 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
629000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
617000000 usd
CY2023Q1 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
770000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
0 usd
CY2023Q1 us-gaap Closed Block Liabilities Other Policyholder Funds
ClosedBlockLiabilitiesOtherPolicyholderFunds
4572000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Other Policyholder Funds
ClosedBlockLiabilitiesOtherPolicyholderFunds
4607000000 usd
CY2023Q1 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
3364000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
3499000000 usd
CY2023Q1 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
53454000000 usd
CY2022Q4 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
53137000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Fixed Maturity Available For Sale At Fair Value
AssetsDesignatedToClosedBlockFixedMaturityAvailableForSaleAtFairValue
30716000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Fixed Maturity Available For Sale At Fair Value
AssetsDesignatedToClosedBlockFixedMaturityAvailableForSaleAtFairValue
29898000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Trading Securities Debt
AssetsDesignatedToClosedBlockTradingSecuritiesDebt
868000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Trading Securities Debt
AssetsDesignatedToClosedBlockTradingSecuritiesDebt
900000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Equity Securities At Fair Value
AssetsDesignatedToClosedBlockEquitySecuritiesAtFairValue
1843000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Equity Securities At Fair Value
AssetsDesignatedToClosedBlockEquitySecuritiesAtFairValue
1733000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Mortgage Loans On Real Estate
AssetsDesignatedToClosedBlockMortgageLoansOnRealEstate
7781000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Mortgage Loans On Real Estate
AssetsDesignatedToClosedBlockMortgageLoansOnRealEstate
7926000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Policy Loans
AssetsDesignatedToClosedBlockPolicyLoans
3586000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Policy Loans
AssetsDesignatedToClosedBlockPolicyLoans
3637000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Other Investments
AssetsDesignatedToClosedBlockOtherInvestments
4828000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Other Investments
AssetsDesignatedToClosedBlockOtherInvestments
4254000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Short Term Investments
AssetsDesignatedToClosedBlockShortTermInvestments
331000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Short Term Investments
AssetsDesignatedToClosedBlockShortTermInvestments
337000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Investments
AssetsDesignatedToClosedBlockInvestments
49953000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Investments
AssetsDesignatedToClosedBlockInvestments
48685000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Cash And Cash Equivalents
AssetsDesignatedToClosedBlockCashAndCashEquivalents
484000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Cash And Cash Equivalents
AssetsDesignatedToClosedBlockCashAndCashEquivalents
1307000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Accrued Investment Income
AssetsDesignatedToClosedBlockAccruedInvestmentIncome
430000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Accrued Investment Income
AssetsDesignatedToClosedBlockAccruedInvestmentIncome
402000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block Other Closed Block Assets1
AssetsDesignatedToClosedBlockOtherClosedBlockAssets1
127000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Other Closed Block Assets1
AssetsDesignatedToClosedBlockOtherClosedBlockAssets1
162000000 usd
CY2023Q1 us-gaap Assets Designated To Closed Block
AssetsDesignatedToClosedBlock
50994000000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block
AssetsDesignatedToClosedBlock
50556000000 usd
CY2023Q1 us-gaap Excess Of Reported Closed Block Liabilities Over Assets Designated To Closed Block
ExcessOfReportedClosedBlockLiabilitiesOverAssetsDesignatedToClosedBlock
2460000000 usd
CY2022Q4 us-gaap Excess Of Reported Closed Block Liabilities Over Assets Designated To Closed Block
ExcessOfReportedClosedBlockLiabilitiesOverAssetsDesignatedToClosedBlock
2581000000 usd
CY2023Q1 us-gaap Closed Block Investments Available For Sale Change In Unrealized Appreciation
ClosedBlockInvestmentsAvailableForSaleChangeInUnrealizedAppreciation
-2570000000 usd
CY2022Q4 us-gaap Closed Block Investments Available For Sale Change In Unrealized Appreciation
ClosedBlockInvestmentsAvailableForSaleChangeInUnrealizedAppreciation
-3458000000 usd
CY2023Q1 us-gaap Closed Block Assets And Liabilities Change In Policyholder Dividend Obligation
ClosedBlockAssetsAndLiabilitiesChangeInPolicyholderDividendObligation
2412000000 usd
CY2022Q4 us-gaap Closed Block Assets And Liabilities Change In Policyholder Dividend Obligation
ClosedBlockAssetsAndLiabilitiesChangeInPolicyholderDividendObligation
3207000000 usd
CY2023Q1 us-gaap Closed Block Assets And Liabilities Maximum Future Earnings To Be Recognized
ClosedBlockAssetsAndLiabilitiesMaximumFutureEarningsToBeRecognized
2302000000 usd
CY2022Q4 us-gaap Closed Block Assets And Liabilities Maximum Future Earnings To Be Recognized
ClosedBlockAssetsAndLiabilitiesMaximumFutureEarningsToBeRecognized
2330000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
0 usd
CY2023Q1 us-gaap Closed Block Dividend Obligation Increase Decrease For Effect Of Operating Results
ClosedBlockDividendObligationIncreaseDecreaseForEffectOfOperatingResults
-25000000 usd
CY2023Q1 us-gaap Closed Block Dividend Obligation Change In Unrealized Investment Gains Losses
ClosedBlockDividendObligationChangeInUnrealizedInvestmentGainsLosses
795000000 usd
CY2023Q1 us-gaap Closed Block Liabilities Policyholder Dividend Obligation
ClosedBlockLiabilitiesPolicyholderDividendObligation
770000000 usd
CY2023Q1 us-gaap Closed Block Operations Premiums
ClosedBlockOperationsPremiums
406000000 usd
CY2022Q1 us-gaap Closed Block Operations Premiums
ClosedBlockOperationsPremiums
408000000 usd
CY2023Q1 us-gaap Closed Block Operations Net Investment Income
ClosedBlockOperationsNetInvestmentIncome
479000000 usd
CY2022Q1 us-gaap Closed Block Operations Net Investment Income
ClosedBlockOperationsNetInvestmentIncome
556000000 usd
CY2023Q1 us-gaap Closed Block Operations Realized Investment Gains Losses
ClosedBlockOperationsRealizedInvestmentGainsLosses
-17000000 usd
CY2022Q1 us-gaap Closed Block Operations Realized Investment Gains Losses
ClosedBlockOperationsRealizedInvestmentGainsLosses
100000000 usd
CY2023Q1 us-gaap Closed Block Operations Other Revenue
ClosedBlockOperationsOtherRevenue
100000000 usd
CY2022Q1 us-gaap Closed Block Operations Other Revenue
ClosedBlockOperationsOtherRevenue
-98000000 usd
CY2023Q1 us-gaap Closed Block Operations Revenue
ClosedBlockOperationsRevenue
968000000 usd
CY2022Q1 us-gaap Closed Block Operations Revenue
ClosedBlockOperationsRevenue
966000000 usd
CY2023Q1 us-gaap Closed Block Operations Policyholder Benefits
ClosedBlockOperationsPolicyholderBenefits
572000000 usd
CY2022Q1 us-gaap Closed Block Operations Policyholder Benefits
ClosedBlockOperationsPolicyholderBenefits
624000000 usd
CY2023Q1 us-gaap Closed Block Operations Change In Policyholder Benefits And Interest Credited To Policyholder Account Balances
ClosedBlockOperationsChangeInPolicyholderBenefitsAndInterestCreditedToPolicyholderAccountBalances
30000000 usd
CY2022Q1 us-gaap Closed Block Operations Change In Policyholder Benefits And Interest Credited To Policyholder Account Balances
ClosedBlockOperationsChangeInPolicyholderBenefitsAndInterestCreditedToPolicyholderAccountBalances
30000000 usd
CY2023Q1 us-gaap Closed Block Operations Policyholder Dividends
ClosedBlockOperationsPolicyholderDividends
302000000 usd
CY2022Q1 us-gaap Closed Block Operations Policyholder Dividends
ClosedBlockOperationsPolicyholderDividends
211000000 usd
CY2023Q1 us-gaap Closed Block Operations Other Expense
ClosedBlockOperationsOtherExpense
73000000 usd
CY2022Q1 us-gaap Closed Block Operations Other Expense
ClosedBlockOperationsOtherExpense
73000000 usd
CY2023Q1 us-gaap Closed Block Operations Benefits And Expense
ClosedBlockOperationsBenefitsAndExpense
977000000 usd
CY2022Q1 us-gaap Closed Block Operations Benefits And Expense
ClosedBlockOperationsBenefitsAndExpense
938000000 usd
CY2023Q1 us-gaap Closed Block Operations Results Before Income Taxes
ClosedBlockOperationsResultsBeforeIncomeTaxes
-9000000 usd
CY2022Q1 us-gaap Closed Block Operations Results Before Income Taxes
ClosedBlockOperationsResultsBeforeIncomeTaxes
28000000 usd
CY2023Q1 us-gaap Closed Block Operations Income Taxes
ClosedBlockOperationsIncomeTaxes
-32000000 usd
CY2022Q1 us-gaap Closed Block Operations Income Taxes
ClosedBlockOperationsIncomeTaxes
1000000 usd
CY2023Q1 us-gaap Closed Block Operations Net Results
ClosedBlockOperationsNetResults
23000000 usd
CY2022Q1 us-gaap Closed Block Operations Net Results
ClosedBlockOperationsNetResults
27000000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
382000000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-144000000 usd
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 pru Tax Expense From Change In Foreign Tax Credit Regulations
TaxExpenseFromChangeInForeignTaxCreditRegulations
16000000 usd
CY2023Q1 pru High Tax Exception Percentage
HighTaxExceptionPercentage
0.189
CY2023Q1 pru Percentageofthe Effective Income Tax Rate Recat Federal Statutory Income
PercentageoftheEffectiveIncomeTaxRateRecatFederalStatutoryIncome
0.90
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 pru High Tax Exception Percentage
HighTaxExceptionPercentage
0.189
CY2023Q1 pru High Tax Exception Percentage
HighTaxExceptionPercentage
0.189
CY2023Q1 pru Book Income Alternative Minimum Tax Rate
BookIncomeAlternativeMinimumTaxRate
0.15
CY2023Q1 us-gaap Debt Current
DebtCurrent
705000000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
775000000 usd
CY2023Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0502
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0469
CY2023Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
0 usd
CY2023Q1 pru Long Term Debt Excluding Current Maturities Including Assets Under Set Off Arrangements
LongTermDebtExcludingCurrentMaturitiesIncludingAssetsUnderSetOffArrangements
32241000000 usd
CY2022Q4 pru Long Term Debt Excluding Current Maturities Including Assets Under Set Off Arrangements
LongTermDebtExcludingCurrentMaturitiesIncludingAssetsUnderSetOffArrangements
31698000000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20451000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19908000000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.25
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-263000000 usd
CY2023Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-154000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-90000000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
1218000000 usd
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-322000000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
599000000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
1477000000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-506000000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-13000000 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
18000000 usd
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
7000000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1444000000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
366500000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.94
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-500000000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376100000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.33
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
18000000 usd
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
7000000 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
18000000 usd
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
7000000 usd
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0.0 shares
CY2023Q1 pru Incremental Common Shares Attributable To Deferred And Long Term Compensation Awards
IncrementalCommonSharesAttributableToDeferredAndLongTermCompensationAwards
1000000.0 shares
CY2022Q1 pru Incremental Common Shares Attributable To Deferred And Long Term Compensation Awards
IncrementalCommonSharesAttributableToDeferredAndLongTermCompensationAwards
0.0 shares
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1444000000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
367700000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.93
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-500000000 usd
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
376100000 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.33
CY2023Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
4200000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
5100000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3100000 shares
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1847000000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-658000000 usd
CY2023Q1 us-gaap Assets
Assets
709269000000 usd
CY2022Q4 us-gaap Assets
Assets
689029000000 usd
CY2023Q1 us-gaap Revenues
Revenues
17045000000 usd
CY2023Q1 us-gaap Net Investment Income
NetInvestmentIncome
4320000000 usd
CY2023Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
15198000000 usd
CY2023Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
10304000000 usd
CY2023Q1 us-gaap Interest Credited To Policyholders Account Balances
InterestCreditedToPolicyholdersAccountBalances
981000000 usd
CY2023Q1 us-gaap Policyholder Dividends
PolicyholderDividends
319000000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
441000000 usd
CY2023Q1 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
365000000 usd
CY2022Q1 us-gaap Revenues
Revenues
11855000000 usd
CY2022Q1 us-gaap Net Investment Income
NetInvestmentIncome
4358000000 usd
CY2022Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
12513000000 usd
CY2022Q1 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
8775000000 usd
CY2022Q1 us-gaap Interest Credited To Policyholders Account Balances
InterestCreditedToPolicyholdersAccountBalances
60000000 usd
CY2022Q1 us-gaap Policyholder Dividends
PolicyholderDividends
235000000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
365000000 usd
CY2022Q1 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
371000000 usd
CY2023Q1 us-gaap Insurance Agency Management Fee
InsuranceAgencyManagementFee
917000000 usd
CY2022Q1 us-gaap Insurance Agency Management Fee
InsuranceAgencyManagementFee
1133000000 usd
CY2023Q1 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
250000000 usd

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