v3.26.1
DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Contract Holder Bonus Interest Credits [Abstract]  
Schedule of Reconciliation of Deferred Acquisition Cost
The following table presents a reconciliation of DAC to the consolidated balance sheets:
June 30, 2026December 31, 2025
(in millions)
Retirement
GMxB Core
$1,569 $1,587 
EQUI-VEST Individual
152 153 
Investment Edge301 273 
SCS2,413 2,274 
EQUI-VEST Group
795 789 
Momentum76 79 
Corporate and Other
Term265 288 
Universal Life
164 167 
Variable Universal Life
1,161 1,143 
Indexed Universal Life
177 181 
GMxB Legacy
452 472 
Closed Block
94 98 
Other
19 19 
Total$7,638 $7,523 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Six Months Ended June 30, 2026
Retirement
Corporate and OtherTotal
GMxB CoreEI IE SCSEG MomentumTermULVUL IUL GMxB LegacyCB
(in millions)
Balance, beginning of period$1,587 $153 $273 $2,274 $789 $79 $288 $167 $1,143 $181 $472 $98 $7,504 
Capitalization 63 5 41 373 30 5 2 6 57 3 9 — 594 
Amortization (1)(81)(6)(13)(192)(24)(8)(17)(6)(35)(6)(29)(4)(421)
Recovery of acquisition costs (2)— — — (42)— — (8)(3)(4)(1)— — (58)
Balance, end of period$1,569 $152 $301 $2,413 $795 $76 $265 $164 $1,161 $177 $452 $94 $7,619 
______________
(1)DAC amortization of $2 million related to Other not reflected in table above.
(2)Related to third party reinsurance transactions.

Six Months Ended June 30, 2025
Retirement
Corporate and OtherTotal
GMxB CoreEI IE SCSEG MomentumTermULVUL IUL GMxB Legacy
CB
(in millions)
Balance, beginning of period$1,605 $154 $225 $1,938 $768 $83 $314 $170 $1,083 $186 $517 $107 $7,150 
Capitalization70 5 36 326 31 5 5 7 72 6 9 — 572 
Amortization (1)
(76)(5)(11)(157)(23)(8)(18)(6)(33)(6)(32)(4)(379)
Balance, end of period$1,599 $154 $250 $2,107 $776 $80 $301 $171 $1,122 $186 $494 $103 $7,343 
______________
(1)DAC amortization of $2 million related to Other not reflected in table above.
Changes in the Retirement and Corporate and Other sales inducement assets were as follows:
Six Months Ended June 30,
20262025
Retirement
Corporate and OtherRetirementCorporate and Other
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$107 $141 $117 $160 
Capitalization1 — 1 — 
Amortization(6)(9)(6)(9)
Balance, end of period$102 $132 $112 $151 
Changes in the Corporate and Other unearned revenue liability were as follows:
Six Months Ended June 30,
20262025
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$112 $866 $254 $114 $840 $250 
Capitalization5 77 19 7 74 23 
Amortization(4)(29)(9)(4)(27)(8)
Recovery of unearned revenue reserves (1)
(3)(41)(13)— — — 
Balance, end of period$110 $873 $251 $117 $887 $265 
______________
(1)    Related to third party reinsurance transactions.