v3.26.3
DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)
 9 Months Ended
Sep. 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:
September 30, 2026December 31, 2025
(in millions)
Retirement
GMxB Core
$1,557 $1,587 
EQUI-VEST Individual
149 153 
Investment Edge317 273 
SCS2,466 2,274 
EQUI-VEST Group
800 789 
Momentum76 79 
Corporate and Other
Term256 288 
Universal Life
162 167 
Variable Universal Life
1,174 1,143 
Indexed Universal Life
175 181 
GMxB Legacy
442 472 
Closed Block
92 98 
Other
20 19 
Total$7,686 $7,523 
Schedule of Deferred Policy Acquisition Costs
Changes in the DAC asset were as follows:
Nine Months Ended September 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 92 6 64 563 49 8 4 8 90 4 13 — 901 
Amortization (1)(122)(10)(20)(304)(38)(11)(26)(9)(53)(9)(43)(6)(651)
Recovery of acquisition costs (2)— — — (67)— — (10)(4)(6)(1)— — (88)
Balance, end of period$1,557 $149 $317 $2,466 $800 $76 $256 $162 $1,174 $175 $442 $92 $7,666 
______________
(1)DAC amortization of $2 million related to Other not reflected in table above.
(2)Related to third party reinsurance transactions.

Nine Months Ended September 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 
Capitalization104 8 53 495 47 7 7 10 103 8 12 — 854 
Amortization (1)
(117)(9)(17)(245)(34)(11)(27)(9)(51)(9)(47)(7)(583)
Recovery of acquisition costs (2)— — — — — — — (2)(7)(2)— — (11)
Balance, end of period$1,592 $153 $261 $2,188 $781 $79 $294 $169 $1,128 $183 $482 $100 $7,410 
______________
(1)DAC amortization of $1 million related to Other not reflected in table above.
(2)Related to third party reinsurance transactions.
Changes in the Retirement and Corporate and Other sales inducement assets were as follows:
Nine Months Ended September 30,
20262025
Retirement
Corporate and OtherRetirementCorporate and Other
GMxB CoreGMxB LegacyGMxB CoreGMxB Legacy
(in millions)
Balance, beginning of period$107 $141 $117 $160 
Capitalization1 — 2 — 
Amortization(9)(13)(9)(15)
Balance, end of period$99 $128 $110 $145 
Changes in the Corporate and Other unearned revenue liability were as follows:
Nine Months Ended September 30,
20262025
ULVULIULULVULIUL
(in millions)
Balance, beginning of period$112 $866 $254 $114 $840 $250 
Capitalization8 117 28 10 111 34 
Amortization(6)(45)(14)(6)(41)(12)
Recovery of unearned revenue reserves (1)
(5)(60)(19)(4)(47)(16)
Balance, end of period$109 $878 $249 $114 $863 $256 
______________
(1)    Related to third party reinsurance transactions.