Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles (Tables)

9 Months Ended

Sep. 30, 2023

Information regarding DAC and VOBA was as follows:


	Variable Annuities		Fixed Rate Annuities		Index-linked Annuities		Term and Whole Life Insurance		Universal Life Insurance
	(In millions)
Nine Months Ended September 30, 2023
DAC:
Balance, beginning of period	$	2,414	$	107	$	1,213	$	347	$	115
Capitalization	29		9		255		1		9
Amortization	(178)		(8)		(167)		(33)		(7)
Balance, end of period	2,265		108		1,301		315		117
VOBA:
Balance, beginning of period	341		65		—		5		35
Amortization	(24)		(4)		—		(1)		(3)
Balance, end of period	317		61		—		4		32
Total DAC and VOBA:
Balance, end of period	$	2,582	$	169	$	1,301	$	319	$	149
Nine Months Ended September 30, 2022
DAC:
Balance, beginning of period	$	2,614	$	88	$	1,081	$	397	$	114
Capitalization	48		20		253		(1)		8
Amortization	(193)		(10)		(145)		(37)		(7)
Balance, end of period	2,469		98		1,189		359		115
VOBA:
Balance, beginning of period	377		70		—		6		39
Amortization	(27)		(4)		—		(1)		(3)
Balance, end of period	350		66		—		5		36
Total DAC and VOBA:
Balance, end of period	$	2,819	$	164	$	1,189	$	364	$	151


	Variable Annuities		Fixed Rate Annuities		Index-linked Annuities		Term and Whole Life Insurance		Universal Life Insurance
	(In millions)
DAC:
Adjusted balance at January 1, 2021 (1)	$	2,786	$	64	$	886	$	451	$	107
Capitalization	90		36		355		(3)		16
Amortization	(262)		(12)		(160)		(51)		(9)
Balance at December 31, 2021	2,614		88		1,081		397		114
Capitalization	54		31		330		(1)		10
Amortization	(254)		(12)		(198)		(49)		(9)
Balance at December 31, 2022	$	2,414	$	107	$	1,213	$	347	$	115
VOBA:
Adjusted balance at January 1, 2021 (1)	$	428	$	76	$	—	$	8	$	44
Amortization	(51)		(6)		—		(2)		(5)
Balance at December 31, 2021	377		70		—		6		39
Amortization	(36)		(5)		—		(1)		(4)
Balance at December 31, 2022	341		65		—		5		35
Total DAC and VOBA:
Balance at December 31, 2022	$	2,755	$	172	$	1,213	$	352	$	150
Balance at December 31, 2021	$	2,991	$	158	$	1,081	$	403	$	153

_______________

(1)Includes an adjustment to eliminate balances included in AOCI related to the adoption of ASU 2018-12 (see Note 2).

Information regarding DAC and VOBA was as follows:


	Variable Annuities		Fixed Rate Annuities		Index-linked Annuities		Term and Whole Life Insurance		Universal Life Insurance
	(In millions)
Nine Months Ended September 30, 2023
DAC:
Balance, beginning of period	$	2,414	$	107	$	1,213	$	347	$	115
Capitalization	29		9		255		1		9
Amortization	(178)		(8)		(167)		(33)		(7)
Balance, end of period	2,265		108		1,301		315		117
VOBA:
Balance, beginning of period	341		65		—		5		35
Amortization	(24)		(4)		—		(1)		(3)
Balance, end of period	317		61		—		4		32
Total DAC and VOBA:
Balance, end of period	$	2,582	$	169	$	1,301	$	319	$	149
Nine Months Ended September 30, 2022
DAC:
Balance, beginning of period	$	2,614	$	88	$	1,081	$	397	$	114
Capitalization	48		20		253		(1)		8
Amortization	(193)		(10)		(145)		(37)		(7)
Balance, end of period	2,469		98		1,189		359		115
VOBA:
Balance, beginning of period	377		70		—		6		39
Amortization	(27)		(4)		—		(1)		(3)
Balance, end of period	350		66		—		5		36
Total DAC and VOBA:
Balance, end of period	$	2,819	$	164	$	1,189	$	364	$	151


	Variable Annuities		Fixed Rate Annuities		Index-linked Annuities		Term and Whole Life Insurance		Universal Life Insurance
	(In millions)
DAC:
Adjusted balance at January 1, 2021 (1)	$	2,786	$	64	$	886	$	451	$	107
Capitalization	90		36		355		(3)		16
Amortization	(262)		(12)		(160)		(51)		(9)
Balance at December 31, 2021	2,614		88		1,081		397		114
Capitalization	54		31		330		(1)		10
Amortization	(254)		(12)		(198)		(49)		(9)
Balance at December 31, 2022	$	2,414	$	107	$	1,213	$	347	$	115
VOBA:
Adjusted balance at January 1, 2021 (1)	$	428	$	76	$	—	$	8	$	44
Amortization	(51)		(6)		—		(2)		(5)
Balance at December 31, 2021	377		70		—		6		39
Amortization	(36)		(5)		—		(1)		(4)
Balance at December 31, 2022	341		65		—		5		35
Total DAC and VOBA:
Balance at December 31, 2022	$	2,755	$	172	$	1,213	$	352	$	150
Balance at December 31, 2021	$	2,991	$	158	$	1,081	$	403	$	153

_______________

(1)Includes an adjustment to eliminate balances included in AOCI related to the adoption of ASU 2018-12 (see Note 2).

Information regarding DSI, included in other assets, was as follows:

Information regarding unearned revenue, included in other policy-related balances, was as follows:

BRIGHTHOUSE LIFE INSURANCE Co 10-Q