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Valuation allowances as of December 31, 2024 primarily relate to tax credits, capital loss carryforwards, and income tax loss carryforwards of $ 1.2 billion. If these items are not utilized against taxable income, $ 520 of the income tax loss carryforwards will expire from 2025 through 2044. The remaining $ 724 has no expiration date. | text | 520 | monetaryItemType | text: <entity> 520 </entity> <entity type> monetaryItemType </entity type> <context> Valuation allowances as of December 31, 2024 primarily relate to tax credits, capital loss carryforwards, and income tax loss carryforwards of $ 1.2 billion. If these items are not utilized against taxable income, $ 520 of the income tax loss carryforwards will expire from 2025 through 2044. The remaining $ 724 has no expiration date. </context> | us-gaap:OperatingLossCarryforwards |
As of December 31, 2024, we have accumulated undistributed earnings generated by our foreign subsidiaries of approximately $ 10.6 billion. Earnings of | text | 10.6 | monetaryItemType | text: <entity> 10.6 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, we have accumulated undistributed earnings generated by our foreign subsidiaries of approximately $ 10.6 billion. Earnings of </context> | us-gaap:UndistributedEarningsOfForeignSubsidiaries |
were previously subject to U.S. federal income tax. Any additional taxes due with respect to such previously-taxed foreign earnings, if repatriated, would generally be limited to foreign and U.S. state income taxes. Deferred taxes have been recorded on $ 932 of earnings of foreign consolidated subsidiaries expected to be repatriated. We do not intend to distribute any remaining foreign earnings and therefore have not recorded deferred taxes for foreign and U.S. income taxes on such earnings. | text | 932 | monetaryItemType | text: <entity> 932 </entity> <entity type> monetaryItemType </entity type> <context> were previously subject to U.S. federal income tax. Any additional taxes due with respect to such previously-taxed foreign earnings, if repatriated, would generally be limited to foreign and U.S. state income taxes. Deferred taxes have been recorded on $ 932 of earnings of foreign consolidated subsidiaries expected to be repatriated. We do not intend to distribute any remaining foreign earnings and therefore have not recorded deferred taxes for foreign and U.S. income taxes on such earnings. </context> | us-gaap:DeferredTaxLiabilitiesUndistributedForeignEarnings |
We recognize accrued interest and penalties related to unrecognized income tax benefits in Provision for income taxes. The net impact of interest and penalties for the years ended December 31, 2024, 2023, and 2022 was not significant. Total accrued penalties and net accrued interest was $ 54 and $ 45 as of December 31, 2024 and 2023, | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> We recognize accrued interest and penalties related to unrecognized income tax benefits in Provision for income taxes. The net impact of interest and penalties for the years ended December 31, 2024, 2023, and 2022 was not significant. Total accrued penalties and net accrued interest was $ 54 and $ 45 as of December 31, 2024 and 2023, </context> | us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued |
We recognize accrued interest and penalties related to unrecognized income tax benefits in Provision for income taxes. The net impact of interest and penalties for the years ended December 31, 2024, 2023, and 2022 was not significant. Total accrued penalties and net accrued interest was $ 54 and $ 45 as of December 31, 2024 and 2023, | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> We recognize accrued interest and penalties related to unrecognized income tax benefits in Provision for income taxes. The net impact of interest and penalties for the years ended December 31, 2024, 2023, and 2022 was not significant. Total accrued penalties and net accrued interest was $ 54 and $ 45 as of December 31, 2024 and 2023, </context> | us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued |
Options outstanding not included in the computation of diluted EPS because their exercise price was greater than the average market price of the common shares were insignificant. The number of common shares outstanding as of December 31, 2024, 2023 and 2022 was 331.8 million, | text | 331.8 | sharesItemType | text: <entity> 331.8 </entity> <entity type> sharesItemType </entity type> <context> Options outstanding not included in the computation of diluted EPS because their exercise price was greater than the average market price of the common shares were insignificant. The number of common shares outstanding as of December 31, 2024, 2023 and 2022 was 331.8 million, </context> | us-gaap:CommonStockSharesOutstanding |
Net sales in the U.S. to third parties totaled $ 10.4 billion in 2024 and 2023 and $ 9.8 billion in 2022. No other individual country's net sales exceed 10% of consolidated net sales. | text | 9.8 | monetaryItemType | text: <entity> 9.8 </entity> <entity type> monetaryItemType </entity type> <context> Net sales in the U.S. to third parties totaled $ 10.4 billion in 2024 and 2023 and $ 9.8 billion in 2022. No other individual country's net sales exceed 10% of consolidated net sales. </context> | us-gaap:Revenues |
Net sales to Walmart Inc. as a percent of our consolidated net sales were approximately 14 % in 2024 and 13 % in 2023 and 2022. Net sales to Walmart Inc. were primarily in the NA segment. | text | 14 | percentItemType | text: <entity> 14 </entity> <entity type> percentItemType </entity type> <context> Net sales to Walmart Inc. as a percent of our consolidated net sales were approximately 14 % in 2024 and 13 % in 2023 and 2022. Net sales to Walmart Inc. were primarily in the NA segment. </context> | us-gaap:ConcentrationRiskPercentage1 |
ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. | text | 47.9 | percentItemType | text: <entity> 47.9 </entity> <entity type> percentItemType </entity type> <context> ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. | text | 256 | monetaryItemType | text: <entity> 256 </entity> <entity type> monetaryItemType </entity type> <context> ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. </context> | us-gaap:EquityMethodInvestments |
ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> ompany. As of December 31, 2024, our ownership interest in Kimberly-Clark de Mexico, S.A.B. de C.V. and subsidiaries ("KCM") was 47.9 %. KCM is partially owned by the public, and its stock is publicly traded in Mexico. As of December 31, 2024, our investment in this equity company was $ 256 , and the estimated fair value of the investment was $ 2.0 billion based on the market price of publicly traded shares. Our other equity ownership interests are not significant to our consolidated financial statements. </context> | us-gaap:EquityMethodInvestmentsFairValueDisclosure |
As of December 31, 2024, undistributed net income of equity companies included in consolidated retained earnings was $ 1.2 billion. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, undistributed net income of equity companies included in consolidated retained earnings was $ 1.2 billion. </context> | us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees |
Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 773 | monetaryItemType | text: <entity> 773 </entity> <entity type> monetaryItemType </entity type> <context> Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Depreciation |
Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 740 | monetaryItemType | text: <entity> 740 </entity> <entity type> monetaryItemType </entity type> <context> Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Depreciation |
Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 739 | monetaryItemType | text: <entity> 739 </entity> <entity type> monetaryItemType </entity type> <context> Property, plant and equipment, net in the U.S. as of December 31, 2024 and 2023 was $ 4.4 billion. Depreciation expense was $ 773 , $ 740 and $ 739 for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:Depreciation |
We currently operate in one reportable segment which represents our core business of offering financing programs that enable Dealers to sell vehicles to consumers regardless of their credit history. For information regarding our one reportable segment and related entity wide disclosures, see Note 15 to the consolidated financial statements. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> We currently operate in one reportable segment which represents our core business of offering financing programs that enable Dealers to sell vehicles to consumers regardless of their credit history. For information regarding our one reportable segment and related entity wide disclosures, see Note 15 to the consolidated financial statements. </context> | us-gaap:NumberOfReportableSegments |
Cash equivalents consist of readily marketable securities with original maturities at the date of acquisition of three months or less. As of December 31, 2023 and 2022, we had $ 12.8 million and $ 7.1 million, respectively, in cash and cash equivalents that were not insured by the Federal Deposit Insurance Corporation (“FDIC”). | text | 12.8 | monetaryItemType | text: <entity> 12.8 </entity> <entity type> monetaryItemType </entity type> <context> Cash equivalents consist of readily marketable securities with original maturities at the date of acquisition of three months or less. As of December 31, 2023 and 2022, we had $ 12.8 million and $ 7.1 million, respectively, in cash and cash equivalents that were not insured by the Federal Deposit Insurance Corporation (“FDIC”). </context> | us-gaap:CashUninsuredAmount |
Cash equivalents consist of readily marketable securities with original maturities at the date of acquisition of three months or less. As of December 31, 2023 and 2022, we had $ 12.8 million and $ 7.1 million, respectively, in cash and cash equivalents that were not insured by the Federal Deposit Insurance Corporation (“FDIC”). | text | 7.1 | monetaryItemType | text: <entity> 7.1 </entity> <entity type> monetaryItemType </entity type> <context> Cash equivalents consist of readily marketable securities with original maturities at the date of acquisition of three months or less. As of December 31, 2023 and 2022, we had $ 12.8 million and $ 7.1 million, respectively, in cash and cash equivalents that were not insured by the Federal Deposit Insurance Corporation (“FDIC”). </context> | us-gaap:CashUninsuredAmount |
Restricted cash and cash equivalents consist of cash pledged as collateral for secured financings and cash held in a trust for future vehicle service contract claims. As of December 31, 2023 and 2022, we had $ 453.7 million and $ 406.5 million, respectively, in restricted cash and cash equivalents that were not insured by the FDIC. | text | 453.7 | monetaryItemType | text: <entity> 453.7 </entity> <entity type> monetaryItemType </entity type> <context> Restricted cash and cash equivalents consist of cash pledged as collateral for secured financings and cash held in a trust for future vehicle service contract claims. As of December 31, 2023 and 2022, we had $ 453.7 million and $ 406.5 million, respectively, in restricted cash and cash equivalents that were not insured by the FDIC. </context> | us-gaap:CashUninsuredAmount |
Restricted cash and cash equivalents consist of cash pledged as collateral for secured financings and cash held in a trust for future vehicle service contract claims. As of December 31, 2023 and 2022, we had $ 453.7 million and $ 406.5 million, respectively, in restricted cash and cash equivalents that were not insured by the FDIC. | text | 406.5 | monetaryItemType | text: <entity> 406.5 </entity> <entity type> monetaryItemType </entity type> <context> Restricted cash and cash equivalents consist of cash pledged as collateral for secured financings and cash held in a trust for future vehicle service contract claims. As of December 31, 2023 and 2022, we had $ 453.7 million and $ 406.5 million, respectively, in restricted cash and cash equivalents that were not insured by the FDIC. </context> | us-gaap:CashUninsuredAmount |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanEmployerMatchingContributionPercentOfMatch |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 4 | percentItemType | text: <entity> 4 </entity> <entity type> percentItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 5 | percentItemType | text: <entity> 5 </entity> <entity type> percentItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 9.4 | monetaryItemType | text: <entity> 9.4 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 8.5 | monetaryItemType | text: <entity> 8.5 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. | text | 7.5 | monetaryItemType | text: <entity> 7.5 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor a 401(k) plan that covers substantially all of our team members. We offer matching contributions to the 401(k) plan based on each enrolled team members’ eligible annual gross pay (subject to statutory limitations). Our matching contribution rate is equal to 100 % of the first 4 % participants contribute and an additional 50 % of the next 2 % participants contribute, for a maximum matching contribution of 5 % of each participant’s eligible annual gross pay. For the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense of $ 9.4 million, $ 8.5 million, and $ 7.5 million, respectively, for our matching contributions to the plan. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred. Advertising expenses were $ 0.5 million for the year ended December 31, 2023, $ 1.0 million for the year ended December 31, 2022, and $ 0.3 million for the year ended December 31, 2021. </context> | us-gaap:AdvertisingExpense |
Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. | text | 8.9 | monetaryItemType | text: <entity> 8.9 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:Depreciation |
Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. | text | 9.0 | monetaryItemType | text: <entity> 9.0 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:Depreciation |
Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. | text | 9.7 | monetaryItemType | text: <entity> 9.7 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense on property and equipment was $ 8.9 million, $ 9.0 million, and $ 9.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:Depreciation |
Excludes deferred debt issuance costs of $ 4.2 million and $ 3.9 million as of December 31, 2023 and December 31, 2022, respectively, which are included in other assets. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> Excludes deferred debt issuance costs of $ 4.2 million and $ 3.9 million as of December 31, 2023 and December 31, 2022, respectively, which are included in other assets. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
Excludes deferred debt issuance costs of $ 4.2 million and $ 3.9 million as of December 31, 2023 and December 31, 2022, respectively, which are included in other assets. | text | 3.9 | monetaryItemType | text: <entity> 3.9 </entity> <entity type> monetaryItemType </entity type> <context> Excludes deferred debt issuance costs of $ 4.2 million and $ 3.9 million as of December 31, 2023 and December 31, 2022, respectively, which are included in other assets. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
We have two revolving secured lines of credit: (1) a $ 390.0 million revolving secured line of credit facility, to which we refer as our revolving secured line of credit facility, with a commercial bank syndicate and (2) an uncommitted $20.0 million revolving secured line of credit facility, to which we refer as the RTP facility, with a lender for use solely in facilitating payments by the Company through the lender’s real-time payments service. | text | 390.0 | monetaryItemType | text: <entity> 390.0 </entity> <entity type> monetaryItemType </entity type> <context> We have two revolving secured lines of credit: (1) a $ 390.0 million revolving secured line of credit facility, to which we refer as our revolving secured line of credit facility, with a commercial bank syndicate and (2) an uncommitted $20.0 million revolving secured line of credit facility, to which we refer as the RTP facility, with a lender for use solely in facilitating payments by the Company through the lender’s real-time payments service. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
We have five Warehouse facilities with total borrowing capacity of $ 1,175.0 million. Each of the facilities is with a different lender or group of lenders. Under each Warehouse facility, we can convey Loans to the applicable wholly owned subsidiary in return for cash and/or an increase in the value of our equity in such subsidiary. In turn, each such subsidiary pledges the Loans as collateral to secure financing that will fund the cash portion of the purchase price of the Loans. The financing provided to each such subsidiary under the applicable facility is generally limited to the lesser of 80 % of the outstanding balance of the conveyed Loans, as determined in accordance with the applicable agreement, plus certain restricted cash and cash equivalents pledged as collateral, or the facility limit. | text | 1175.0 | monetaryItemType | text: <entity> 1175.0 </entity> <entity type> monetaryItemType </entity type> <context> We have five Warehouse facilities with total borrowing capacity of $ 1,175.0 million. Each of the facilities is with a different lender or group of lenders. Under each Warehouse facility, we can convey Loans to the applicable wholly owned subsidiary in return for cash and/or an increase in the value of our equity in such subsidiary. In turn, each such subsidiary pledges the Loans as collateral to secure financing that will fund the cash portion of the purchase price of the Loans. The financing provided to each such subsidiary under the applicable facility is generally limited to the lesser of 80 % of the outstanding balance of the conveyed Loans, as determined in accordance with the applicable agreement, plus certain restricted cash and cash equivalents pledged as collateral, or the facility limit. </context> | us-gaap:DebtInstrumentFaceAmount |
On March 7, 2019, we issued $ 400.0 million aggregate principal amount of 6.625 % senior notes due 2026 (the “2026 senior notes”). The 2026 senior notes were issued pursuant to an indenture, dated as of March 7, 2019, among the Company, as issuer, the Guarantors and the trustee under the indenture. | text | 400.0 | monetaryItemType | text: <entity> 400.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 7, 2019, we issued $ 400.0 million aggregate principal amount of 6.625 % senior notes due 2026 (the “2026 senior notes”). The 2026 senior notes were issued pursuant to an indenture, dated as of March 7, 2019, among the Company, as issuer, the Guarantors and the trustee under the indenture. </context> | us-gaap:SeniorLongTermNotes |
On March 7, 2019, we issued $ 400.0 million aggregate principal amount of 6.625 % senior notes due 2026 (the “2026 senior notes”). The 2026 senior notes were issued pursuant to an indenture, dated as of March 7, 2019, among the Company, as issuer, the Guarantors and the trustee under the indenture. | text | 6.625 | percentItemType | text: <entity> 6.625 </entity> <entity type> percentItemType </entity type> <context> On March 7, 2019, we issued $ 400.0 million aggregate principal amount of 6.625 % senior notes due 2026 (the “2026 senior notes”). The 2026 senior notes were issued pursuant to an indenture, dated as of March 7, 2019, among the Company, as issuer, the Guarantors and the trustee under the indenture. </context> | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
The 2026 senior notes mature on March 15, 2026 and bear interest at a rate of 6.625 % per annum, computed on the basis of a 360-day year composed of twelve 30-day months and payable semi-annually on March 15 and September 15 of each year, beginning on September 15, 2019. We used the net proceeds from the offering of the 2026 senior notes for general corporate purposes, including repayment of outstanding borrowings under our revolving secured line of credit facility. | text | 6.625 | percentItemType | text: <entity> 6.625 </entity> <entity type> percentItemType </entity type> <context> The 2026 senior notes mature on March 15, 2026 and bear interest at a rate of 6.625 % per annum, computed on the basis of a 360-day year composed of twelve 30-day months and payable semi-annually on March 15 and September 15 of each year, beginning on September 15, 2019. We used the net proceeds from the offering of the 2026 senior notes for general corporate purposes, including repayment of outstanding borrowings under our revolving secured line of credit facility. </context> | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
We have a $ 9.0 million mortgage note with a commercial bank that is secured by a first mortgage lien on a building acquired by us and an assignment of all leases, rents, revenues, and profits under all present and future leases of the building. The note matures on August 6, 2028, and bears interest at BSBY plus 150 basis points. | text | 9.0 | monetaryItemType | text: <entity> 9.0 </entity> <entity type> monetaryItemType </entity type> <context> We have a $ 9.0 million mortgage note with a commercial bank that is secured by a first mortgage lien on a building acquired by us and an assignment of all leases, rents, revenues, and profits under all present and future leases of the building. The note matures on August 6, 2028, and bears interest at BSBY plus 150 basis points. </context> | us-gaap:DebtInstrumentFaceAmount |
We have a $ 9.0 million mortgage note with a commercial bank that is secured by a first mortgage lien on a building acquired by us and an assignment of all leases, rents, revenues, and profits under all present and future leases of the building. The note matures on August 6, 2028, and bears interest at BSBY plus 150 basis points. | text | 150 | percentItemType | text: <entity> 150 </entity> <entity type> percentItemType </entity type> <context> We have a $ 9.0 million mortgage note with a commercial bank that is secured by a first mortgage lien on a building acquired by us and an assignment of all leases, rents, revenues, and profits under all present and future leases of the building. The note matures on August 6, 2028, and bears interest at BSBY plus 150 basis points. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The interest rate caps have not been designated as hedging instruments. As of December 31, 2023 and 2022, the interest rate caps had a fair value of $ 0.1 million and $ 2.0 million, respectively. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> The interest rate caps have not been designated as hedging instruments. As of December 31, 2023 and 2022, the interest rate caps had a fair value of $ 0.1 million and $ 2.0 million, respectively. </context> | us-gaap:DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral |
The interest rate caps have not been designated as hedging instruments. As of December 31, 2023 and 2022, the interest rate caps had a fair value of $ 0.1 million and $ 2.0 million, respectively. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> The interest rate caps have not been designated as hedging instruments. As of December 31, 2023 and 2022, the interest rate caps had a fair value of $ 0.1 million and $ 2.0 million, respectively. </context> | us-gaap:DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral |
The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. | text | 61.0 | monetaryItemType | text: <entity> 61.0 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. | text | 15.1 | monetaryItemType | text: <entity> 15.1 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. | text | 13.2 | monetaryItemType | text: <entity> 13.2 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of gross unrecognized tax benefits that, if recognized, would favorably affect our effective income tax rate in future periods was $ 61.0 million as of December 31, 2023. As of December 31, 2023, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. Accrued interest related to uncertain tax positions was $ 15.1 million and $ 13.2 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
Represents repurchases under authorizations by the board of directors for the repurchase of shares by us from time to time in the open market through privately negotiated transactions, through block trades, pursuant to trading plans adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, or otherwise. On August 21, 2023, the board of directors authorized the repurchase of up to two million shares of our common stock in addition to the board’s prior authorizations. As of December 31, 2023, we had authorization to repurchase 1,806,007 shares of our common stock. | text | 1806007 | sharesItemType | text: <entity> 1806007 </entity> <entity type> sharesItemType </entity type> <context> Represents repurchases under authorizations by the board of directors for the repurchase of shares by us from time to time in the open market through privately negotiated transactions, through block trades, pursuant to trading plans adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, or otherwise. On August 21, 2023, the board of directors authorized the repurchase of up to two million shares of our common stock in addition to the board’s prior authorizations. As of December 31, 2023, we had authorization to repurchase 1,806,007 shares of our common stock. </context> | us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased |
Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. | text | 250000 | sharesItemType | text: <entity> 250000 </entity> <entity type> sharesItemType </entity type> <context> Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized |
Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. | text | 3000000 | sharesItemType | text: <entity> 3000000 </entity> <entity type> sharesItemType </entity type> <context> Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. | text | 455100 | sharesItemType | text: <entity> 455100 </entity> <entity type> sharesItemType </entity type> <context> Pursuant to our Amended and Restated Incentive Compensation Plan (the “Incentive Plan”), at any time prior to April 12, 2031, we can grant stock-based awards in the form of restricted stock, restricted stock units, and stock options to team members, officers, directors, and contractors. On April 10, 2023, our board of directors approved an amendment to the Incentive Plan, subject to shareholder approval, increasing the number of shares authorized for issuance by 250,000 shares, to 3,000,000 shares. Shareholder approval was received at our annual meeting of shareholders on June 2, 2023. The shares available for future grants under the Incentive Plan totaled 455,100 as of December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
The total intrinsic value of stock options exercised during 2023 was $ 2.8 million. Net cash proceeds from the exercise of stock options in 2023 was $ 5.2 million. | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> The total intrinsic value of stock options exercised during 2023 was $ 2.8 million. Net cash proceeds from the exercise of stock options in 2023 was $ 5.2 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
The total intrinsic value of stock options exercised during 2023 was $ 2.8 million. Net cash proceeds from the exercise of stock options in 2023 was $ 5.2 million. | text | 5.2 | monetaryItemType | text: <entity> 5.2 </entity> <entity type> monetaryItemType </entity type> <context> The total intrinsic value of stock options exercised during 2023 was $ 2.8 million. Net cash proceeds from the exercise of stock options in 2023 was $ 5.2 million. </context> | us-gaap:ProceedsFromStockOptionsExercised |
The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. | text | 454.04 | perShareItemType | text: <entity> 454.04 </entity> <entity type> perShareItemType </entity type> <context> The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. | text | 488.27 | perShareItemType | text: <entity> 488.27 </entity> <entity type> perShareItemType </entity type> <context> The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. | text | 366.07 | perShareItemType | text: <entity> 366.07 </entity> <entity type> perShareItemType </entity type> <context> The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensation |
The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. | text | 31000 | sharesItemType | text: <entity> 31000 </entity> <entity type> sharesItemType </entity type> <context> The grant-date weighted average fair value of RSUs granted in 2023, 2022, and 2021 was $ 454.04 , $ 488.27 , and $ 366.07 , respectively. The total intrinsic value of RSUs converted to common stock during 2023, 2022, and 2021 was $ 84.8 million, $ 27.5 million, and $ 7.9 million, respectively. During 2021, we recognized a $ 3.0 million reversal of stock-based compensation expense due to the forfeiture of 31,000 unvested RSUs upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures |
Prior to 2020, we granted performance-based and time-based shares of restricted stock to team members in accordance with the Incentive Plan. As of December 31, 2023 and December 31, 2022, there were no unvested shares of restricted stock. During 2021, we recognized an $ 8.5 million reversal of stock-based compensation expense due to the forfeiture of 109,000 shares of unvested restricted stock upon the retirement of our former Chief Executive Officer in May 2021. | text | 8.5 | monetaryItemType | text: <entity> 8.5 </entity> <entity type> monetaryItemType </entity type> <context> Prior to 2020, we granted performance-based and time-based shares of restricted stock to team members in accordance with the Incentive Plan. As of December 31, 2023 and December 31, 2022, there were no unvested shares of restricted stock. During 2021, we recognized an $ 8.5 million reversal of stock-based compensation expense due to the forfeiture of 109,000 shares of unvested restricted stock upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensation |
Prior to 2020, we granted performance-based and time-based shares of restricted stock to team members in accordance with the Incentive Plan. As of December 31, 2023 and December 31, 2022, there were no unvested shares of restricted stock. During 2021, we recognized an $ 8.5 million reversal of stock-based compensation expense due to the forfeiture of 109,000 shares of unvested restricted stock upon the retirement of our former Chief Executive Officer in May 2021. | text | 109000 | sharesItemType | text: <entity> 109000 </entity> <entity type> sharesItemType </entity type> <context> Prior to 2020, we granted performance-based and time-based shares of restricted stock to team members in accordance with the Incentive Plan. As of December 31, 2023 and December 31, 2022, there were no unvested shares of restricted stock. During 2021, we recognized an $ 8.5 million reversal of stock-based compensation expense due to the forfeiture of 109,000 shares of unvested restricted stock upon the retirement of our former Chief Executive Officer in May 2021. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures |
We identify operating segments as components of our business for which separate financial information is regularly evaluated by the chief operating decision-maker (“CODM”) in making decisions regarding resource allocation and assessing performance. We periodically review and redefine our segment reporting as internal management reporting practices evolve and the components of our business change. Currently, the CODM reviews consolidated financial statements and metrics to allocate resources and assess performance. Thus, we have determined that we operate in one reportable operating segment. The consolidated financial statements reflect the financial results of our one reportable operating segment. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> We identify operating segments as components of our business for which separate financial information is regularly evaluated by the chief operating decision-maker (“CODM”) in making decisions regarding resource allocation and assessing performance. We periodically review and redefine our segment reporting as internal management reporting practices evolve and the components of our business change. Currently, the CODM reviews consolidated financial statements and metrics to allocate resources and assess performance. Thus, we have determined that we operate in one reportable operating segment. The consolidated financial statements reflect the financial results of our one reportable operating segment. </context> | us-gaap:NumberOfOperatingSegments |
On October 2, 2020, a shareholder filed a putative class action complaint against the Company, its Chief Executive Officer (now former Chief Executive Officer), and its Chief Financial Officer (now Chief Executive Officer) in the United States District Court for the Eastern District of Michigan, Southern Division, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, promulgated thereunder, based on alleged false and/or misleading statements or omissions regarding the Company and its business, and seeking class certification, unspecified damages plus interest and attorney and expert witness fees, and other costs on behalf of a purported class consisting of all persons and entities (subject to specified exceptions) that purchased or otherwise acquired Credit Acceptance common stock from November 1, 2019 through August 28, 2020. In 2022, the Company reached an agreement to make an aggregate cash payment of $ 12.0 million, all of which was recognized during the second quarter of 2022, to settle claims brought on behalf of all persons and entities that purchased or otherwise acquired Credit Acceptance common stock from May 4, 2018 through August 28, 2020, and provided for a full release of all claims against all defendants, including the Company and its officers. On December 16, 2022, the court entered a final order and judgment consistent with the settlement agreement, including dismissal with prejudice of all claims asserted against the Company and its officers. | text | 12.0 | monetaryItemType | text: <entity> 12.0 </entity> <entity type> monetaryItemType </entity type> <context> On October 2, 2020, a shareholder filed a putative class action complaint against the Company, its Chief Executive Officer (now former Chief Executive Officer), and its Chief Financial Officer (now Chief Executive Officer) in the United States District Court for the Eastern District of Michigan, Southern Division, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, promulgated thereunder, based on alleged false and/or misleading statements or omissions regarding the Company and its business, and seeking class certification, unspecified damages plus interest and attorney and expert witness fees, and other costs on behalf of a purported class consisting of all persons and entities (subject to specified exceptions) that purchased or otherwise acquired Credit Acceptance common stock from November 1, 2019 through August 28, 2020. In 2022, the Company reached an agreement to make an aggregate cash payment of $ 12.0 million, all of which was recognized during the second quarter of 2022, to settle claims brought on behalf of all persons and entities that purchased or otherwise acquired Credit Acceptance common stock from May 4, 2018 through August 28, 2020, and provided for a full release of all claims against all defendants, including the Company and its officers. On December 16, 2022, the court entered a final order and judgment consistent with the settlement agreement, including dismissal with prejudice of all claims asserted against the Company and its officers. </context> | us-gaap:LossContingencyAccrualProvision |
On August 30, 2020, we were served with a complaint, filed by the Attorney General in Massachusetts Superior Court in Suffolk County, alleging that the Company engaged in unfair and deceptive trade practices in subprime auto lending, debt collection and asset-backed securitizations in the Commonwealth of Massachusetts, in violation of the Massachusetts Consumer Protection Law, M.G.L. c. 93A. The complaint sought injunctive relief, restitution, disgorgement, civil penalties and payment of the Commonwealth’s attorney’s fees and costs. On September 1, 2021, we entered into a settlement agreement with the Office of the Attorney General, reflecting the parties’ agreement to settle and fully resolve the claims asserted against us. We made a payment in the total amount of $ 27.2 million, which was recognized as a contingent loss during the first quarter of 2021, to an independent trust for purposes of making payments to provide relief for eligible Massachusetts consumers, paying costs of implementation of the agreement and paying the Attorney General’s costs of investigation, and to pay up to $ 95,000 to cover costs and expenses incurred by an independent trustee for management of the independent trust. | text | 27.2 | monetaryItemType | text: <entity> 27.2 </entity> <entity type> monetaryItemType </entity type> <context> On August 30, 2020, we were served with a complaint, filed by the Attorney General in Massachusetts Superior Court in Suffolk County, alleging that the Company engaged in unfair and deceptive trade practices in subprime auto lending, debt collection and asset-backed securitizations in the Commonwealth of Massachusetts, in violation of the Massachusetts Consumer Protection Law, M.G.L. c. 93A. The complaint sought injunctive relief, restitution, disgorgement, civil penalties and payment of the Commonwealth’s attorney’s fees and costs. On September 1, 2021, we entered into a settlement agreement with the Office of the Attorney General, reflecting the parties’ agreement to settle and fully resolve the claims asserted against us. We made a payment in the total amount of $ 27.2 million, which was recognized as a contingent loss during the first quarter of 2021, to an independent trust for purposes of making payments to provide relief for eligible Massachusetts consumers, paying costs of implementation of the agreement and paying the Attorney General’s costs of investigation, and to pay up to $ 95,000 to cover costs and expenses incurred by an independent trustee for management of the independent trust. </context> | us-gaap:LossContingencyAccrualProvision |
On August 30, 2020, we were served with a complaint, filed by the Attorney General in Massachusetts Superior Court in Suffolk County, alleging that the Company engaged in unfair and deceptive trade practices in subprime auto lending, debt collection and asset-backed securitizations in the Commonwealth of Massachusetts, in violation of the Massachusetts Consumer Protection Law, M.G.L. c. 93A. The complaint sought injunctive relief, restitution, disgorgement, civil penalties and payment of the Commonwealth’s attorney’s fees and costs. On September 1, 2021, we entered into a settlement agreement with the Office of the Attorney General, reflecting the parties’ agreement to settle and fully resolve the claims asserted against us. We made a payment in the total amount of $ 27.2 million, which was recognized as a contingent loss during the first quarter of 2021, to an independent trust for purposes of making payments to provide relief for eligible Massachusetts consumers, paying costs of implementation of the agreement and paying the Attorney General’s costs of investigation, and to pay up to $ 95,000 to cover costs and expenses incurred by an independent trustee for management of the independent trust. | text | 95000 | monetaryItemType | text: <entity> 95000 </entity> <entity type> monetaryItemType </entity type> <context> On August 30, 2020, we were served with a complaint, filed by the Attorney General in Massachusetts Superior Court in Suffolk County, alleging that the Company engaged in unfair and deceptive trade practices in subprime auto lending, debt collection and asset-backed securitizations in the Commonwealth of Massachusetts, in violation of the Massachusetts Consumer Protection Law, M.G.L. c. 93A. The complaint sought injunctive relief, restitution, disgorgement, civil penalties and payment of the Commonwealth’s attorney’s fees and costs. On September 1, 2021, we entered into a settlement agreement with the Office of the Attorney General, reflecting the parties’ agreement to settle and fully resolve the claims asserted against us. We made a payment in the total amount of $ 27.2 million, which was recognized as a contingent loss during the first quarter of 2021, to an independent trust for purposes of making payments to provide relief for eligible Massachusetts consumers, paying costs of implementation of the agreement and paying the Attorney General’s costs of investigation, and to pay up to $ 95,000 to cover costs and expenses incurred by an independent trustee for management of the independent trust. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: </context> | us-gaap:OperatingLeaseExpense |
We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: </context> | us-gaap:OperatingLeaseExpense |
We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> We lease office equipment and, until December 31, 2022, we also leased office space. We expect that, in the normal course of business, leases will be renewed or replaced by other leases. Total rental expense on all operating leases was $ 1.2 million for 2023, $ 1.3 million for 2022, and $ 1.4 million for 2021. Contingent rentals under the operating leases were insignificant. Our total minimum future lease commitments under operating leases as of December 31, 2023 are as follows: </context> | us-gaap:OperatingLeaseExpense |
As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. | text | 55.4 | monetaryItemType | text: <entity> 55.4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. </context> | us-gaap:AssetsUnderManagementCarryingAmount |
For the year ended December 31, 2023, there was an income tax benefit of $ 96 million on income from operations, resulting in an effective tax rate on income from operations of (10.2)%. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> For the year ended December 31, 2023, there was an income tax benefit of $ 96 million on income from operations, resulting in an effective tax rate on income from operations of (10.2)%. </context> | us-gaap:IncomeTaxExpenseBenefit |
As described in Notes 5, 15, and 16 to the consolidated financial statements, the total fair value of the individual retirement MRB assets and liabilities were $ 740 million and $ 5,225 million, respectively and the fair value of the embedded derivatives for certain guaranteed features on fixed index annuity contracts was $ 1.5 billion at December 31, 2023. Certain variable annuity and fixed index annuity contracts contain MRBs related to guaranteed benefit features that management separates from the host contracts and accounts for at fair value. As disclosed by management, the fair value of MRBs contained in certain variable and fixed index annuity contracts and the associated EDs for certain guaranteed features on fixed index annuities is measured based on policyholder behavior and capital market assumptions related to projected cash flows over the expected lives of the contracts. The projected cash flows incorporate best estimate assumptions for policyholder behavior (including lapses, withdrawals and benefit utilization), along with an explicit risk margin to reflect a market participant’s estimates of the fair value of projected cash flows and policyholder behavior. Estimating the underlying cash flows for these features also involves judgments regarding the capital market assumptions including expected market rates of return, market volatility, credit spreads, correlations of certain market variables, fund performance and discount rates. The guaranteed product features in the fixed index annuity contracts that are not MRBs and are accounted for as EDs utilize option pricing models to estimate fair value, taking into account the capital market assumptions for future index growth rates, volatility of the index, future interest rates, and the Company’s ability to adjust the participation rate and the cap on fixed index credited rates in light of market conditions and policyholder behavior assumptions. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> As described in Notes 5, 15, and 16 to the consolidated financial statements, the total fair value of the individual retirement MRB assets and liabilities were $ 740 million and $ 5,225 million, respectively and the fair value of the embedded derivatives for certain guaranteed features on fixed index annuity contracts was $ 1.5 billion at December 31, 2023. Certain variable annuity and fixed index annuity contracts contain MRBs related to guaranteed benefit features that management separates from the host contracts and accounts for at fair value. As disclosed by management, the fair value of MRBs contained in certain variable and fixed index annuity contracts and the associated EDs for certain guaranteed features on fixed index annuities is measured based on policyholder behavior and capital market assumptions related to projected cash flows over the expected lives of the contracts. The projected cash flows incorporate best estimate assumptions for policyholder behavior (including lapses, withdrawals and benefit utilization), along with an explicit risk margin to reflect a market participant’s estimates of the fair value of projected cash flows and policyholder behavior. Estimating the underlying cash flows for these features also involves judgments regarding the capital market assumptions including expected market rates of return, market volatility, credit spreads, correlations of certain market variables, fund performance and discount rates. The guaranteed product features in the fixed index annuity contracts that are not MRBs and are accounted for as EDs utilize option pricing models to estimate fair value, taking into account the capital market assumptions for future index growth rates, volatility of the index, future interest rates, and the Company’s ability to adjust the participation rate and the cap on fixed index credited rates in light of market conditions and policyholder behavior assumptions. </context> | us-gaap:PolicyholderContractDeposits |
Corebridge Financial, Inc. (“Corebridge Parent”) is a leading provider of retirement solutions and life insurance products in the United States. Our primary business operations consist of sales of individual and group annuities products, life insurance products to individuals and institutional markets products. Corebridge Parent common stock, par value $ 0.01 per share, is listed on the New York Stock Exchange (NYSE: CRBG). The terms “Corebridge,” “we,” “us,” “our” or the “Company” mean Corebridge Parent and its consolidated subsidiaries, unless the context refers to Corebridge Parent only. | text | 0.01 | perShareItemType | text: <entity> 0.01 </entity> <entity type> perShareItemType </entity type> <context> Corebridge Financial, Inc. (“Corebridge Parent”) is a leading provider of retirement solutions and life insurance products in the United States. Our primary business operations consist of sales of individual and group annuities products, life insurance products to individuals and institutional markets products. Corebridge Parent common stock, par value $ 0.01 per share, is listed on the New York Stock Exchange (NYSE: CRBG). The terms “Corebridge,” “we,” “us,” “our” or the “Company” mean Corebridge Parent and its consolidated subsidiaries, unless the context refers to Corebridge Parent only. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. | text | 80.0 | monetaryItemType | text: <entity> 80.0 </entity> <entity type> monetaryItemType </entity type> <context> On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. | text | 159.8 | monetaryItemType | text: <entity> 159.8 </entity> <entity type> monetaryItemType </entity type> <context> On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. | text | 17.2 | sharesItemType | text: <entity> 17.2 </entity> <entity type> sharesItemType </entity type> <context> On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. </context> | us-gaap:StockRepurchasedDuringPeriodShares |
On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. | text | 52.2 | percentItemType | text: <entity> 52.2 </entity> <entity type> percentItemType </entity type> <context> On September 19, 2022, we completed an initial public offering (the “IPO”) in which American International Group, Inc. (“AIG Parent”) sold 80.0 million shares of Corebridge Parent common stock to the public. Since our IPO, AIG has sold 159.8 million shares of Corebridge Parent common stock and we have repurchased 17.2 million shares of our common stock from AIG. As of December 31, 2023, AIG owns 52.2 % of the outstanding common stock of Corebridge Parent. AIG Parent is a publicly traded entity, listed on the New York Stock Exchange (NYSE: AIG). The term “AIG” means AIG Parent and its consolidated subsidiaries, unless the context refers to AIG Parent only. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
In connection with the Reorganization, Corebridge and AIG entered into agreements under which we purchased AIG Technologies, Inc. (“AIGT”) and Eastgreen, Inc. (“Eastgreen”) from AIG on February 28, 2022 for total consideration of $ 107 million. AIGT provides data processing, technology and infrastructure services to Corebridge and AIG entities in the United States, including management of AIG hardware and networks. To the extent needed, AIGT will continue to provide services to AIG for a transition period. | text | 107 | monetaryItemType | text: <entity> 107 </entity> <entity type> monetaryItemType </entity type> <context> In connection with the Reorganization, Corebridge and AIG entered into agreements under which we purchased AIG Technologies, Inc. (“AIGT”) and Eastgreen, Inc. (“Eastgreen”) from AIG on February 28, 2022 for total consideration of $ 107 million. AIGT provides data processing, technology and infrastructure services to Corebridge and AIG entities in the United States, including management of AIG hardware and networks. To the extent needed, AIGT will continue to provide services to AIG for a transition period. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On September 25, 2023 Corebridge announced that it has entered into a definitive agreement to sell AIG Life, to Aviva plc for a total consideration of £ 460 million in cash, subject to certain adjustments. The sale is expected to close in the first half of 2024, subject to customary closing conditions including regulatory approvals. | text | 460 | monetaryItemType | text: <entity> 460 </entity> <entity type> monetaryItemType </entity type> <context> On September 25, 2023 Corebridge announced that it has entered into a definitive agreement to sell AIG Life, to Aviva plc for a total consideration of £ 460 million in cash, subject to certain adjustments. The sale is expected to close in the first half of 2024, subject to customary closing conditions including regulatory approvals. </context> | us-gaap:ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries |
On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. | text | 691 | monetaryItemType | text: <entity> 691 </entity> <entity type> monetaryItemType </entity type> <context> On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. </context> | us-gaap:ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries |
On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. | text | 731 | monetaryItemType | text: <entity> 731 </entity> <entity type> monetaryItemType </entity type> <context> On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. </context> | us-gaap:ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries |
On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. | text | 652 | monetaryItemType | text: <entity> 652 </entity> <entity type> monetaryItemType </entity type> <context> On October 31, 2023, Corebridge completed the sale of Laya to AXA and received gross proceeds (i.e., net cash before transaction costs) of € 691 million ($ 731 million), resulting in a pre-tax gain of $ 652 million. </context> | us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal |
On February 8, 2021, we announced the execution of a definitive agreement with Touchstone Investments, Inc. (“Touchstone”), an indirect wholly-owned subsidiary of Western & Southern Financial Group, to sell certain assets of our retail mutual funds business. This sale consisted of the reorganization of twelve of the retail mutual funds managed by our subsidiary SunAmerica Asset Management, LLC (“SAAMCo”) into certain Touchstone funds. The transaction closed on July 16, 2021, at which time we received initial proceeds and recognized a gain on the sale of $ 103 million. Concurrently, the twelve retail mutual funds managed by SAAMCo, with $ 6.8 billion in assets, were reorganized into Touchstone funds. Additional consideration has been and may be earned over a three-year period based on asset levels in certain reorganized funds. Six retail mutual funds managed by SAAMCo and not included in the transaction were liquidated. We continue to retain our fund management platform and capabilities dedicated to our variable annuity insurance products. | text | 103 | monetaryItemType | text: <entity> 103 </entity> <entity type> monetaryItemType </entity type> <context> On February 8, 2021, we announced the execution of a definitive agreement with Touchstone Investments, Inc. (“Touchstone”), an indirect wholly-owned subsidiary of Western & Southern Financial Group, to sell certain assets of our retail mutual funds business. This sale consisted of the reorganization of twelve of the retail mutual funds managed by our subsidiary SunAmerica Asset Management, LLC (“SAAMCo”) into certain Touchstone funds. The transaction closed on July 16, 2021, at which time we received initial proceeds and recognized a gain on the sale of $ 103 million. Concurrently, the twelve retail mutual funds managed by SAAMCo, with $ 6.8 billion in assets, were reorganized into Touchstone funds. Additional consideration has been and may be earned over a three-year period based on asset levels in certain reorganized funds. Six retail mutual funds managed by SAAMCo and not included in the transaction were liquidated. We continue to retain our fund management platform and capabilities dedicated to our variable annuity insurance products. </context> | us-gaap:GainOnSaleOfInvestments |
On February 8, 2021, we announced the execution of a definitive agreement with Touchstone Investments, Inc. (“Touchstone”), an indirect wholly-owned subsidiary of Western & Southern Financial Group, to sell certain assets of our retail mutual funds business. This sale consisted of the reorganization of twelve of the retail mutual funds managed by our subsidiary SunAmerica Asset Management, LLC (“SAAMCo”) into certain Touchstone funds. The transaction closed on July 16, 2021, at which time we received initial proceeds and recognized a gain on the sale of $ 103 million. Concurrently, the twelve retail mutual funds managed by SAAMCo, with $ 6.8 billion in assets, were reorganized into Touchstone funds. Additional consideration has been and may be earned over a three-year period based on asset levels in certain reorganized funds. Six retail mutual funds managed by SAAMCo and not included in the transaction were liquidated. We continue to retain our fund management platform and capabilities dedicated to our variable annuity insurance products. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> On February 8, 2021, we announced the execution of a definitive agreement with Touchstone Investments, Inc. (“Touchstone”), an indirect wholly-owned subsidiary of Western & Southern Financial Group, to sell certain assets of our retail mutual funds business. This sale consisted of the reorganization of twelve of the retail mutual funds managed by our subsidiary SunAmerica Asset Management, LLC (“SAAMCo”) into certain Touchstone funds. The transaction closed on July 16, 2021, at which time we received initial proceeds and recognized a gain on the sale of $ 103 million. Concurrently, the twelve retail mutual funds managed by SAAMCo, with $ 6.8 billion in assets, were reorganized into Touchstone funds. Additional consideration has been and may be earned over a three-year period based on asset levels in certain reorganized funds. Six retail mutual funds managed by SAAMCo and not included in the transaction were liquidated. We continue to retain our fund management platform and capabilities dedicated to our variable annuity insurance products. </context> | us-gaap:AssetsUnderManagementCarryingAmount |
On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. | text | 9.9 | percentItemType | text: <entity> 9.9 </entity> <entity type> percentItemType </entity type> <context> On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. | text | 50 | monetaryItemType | text: <entity> 50 </entity> <entity type> monetaryItemType </entity type> <context> On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. </context> | us-gaap:AssetsUnderManagementCarryingAmount |
On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. | text | 92.5 | monetaryItemType | text: <entity> 92.5 </entity> <entity type> monetaryItemType </entity type> <context> On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. </context> | us-gaap:AssetsUnderManagementCarryingAmount |
On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. | text | 55.4 | monetaryItemType | text: <entity> 55.4 </entity> <entity type> monetaryItemType </entity type> <context> On November 2, 2021, Argon Holdco LLC (“Argon”), a wholly-owned subsidiary of Blackstone, Inc. (“Blackstone”), acquired a 9.9 % position in our common stock and we entered into a long-term asset management relationship with Blackstone ISG-1 Advisors L.L.C (“Blackstone IM”). Blackstone IM initially managed $ 50 billion of our existing investment portfolio, with that amount to increase to an aggregate of $ 92.5 billion by the third quarter of 2027. As of December 31, 2023, Blackstone managed approximately $ 55.4 billion in book value of assets in our investment portfolio. </context> | us-gaap:AssetsUnderManagementCarryingAmount |
On December 15, 2021, Corebridge and Blackstone Real Estate Income Trust (“BREIT”), a long-term, perpetual capital vehicle affiliated with Blackstone, completed the acquisition by BREIT of Corebridge’s interests in a U.S. affordable housing portfolio for $ 4.9 billion, in an all cash transaction, subject to certain adjustments, resulting in a pre-tax gain of $ 3.0 billion. | text | 4.9 | monetaryItemType | text: <entity> 4.9 </entity> <entity type> monetaryItemType </entity type> <context> On December 15, 2021, Corebridge and Blackstone Real Estate Income Trust (“BREIT”), a long-term, perpetual capital vehicle affiliated with Blackstone, completed the acquisition by BREIT of Corebridge’s interests in a U.S. affordable housing portfolio for $ 4.9 billion, in an all cash transaction, subject to certain adjustments, resulting in a pre-tax gain of $ 3.0 billion. </context> | us-gaap:ProceedsFromSaleOfRealEstate |
On December 15, 2021, Corebridge and Blackstone Real Estate Income Trust (“BREIT”), a long-term, perpetual capital vehicle affiliated with Blackstone, completed the acquisition by BREIT of Corebridge’s interests in a U.S. affordable housing portfolio for $ 4.9 billion, in an all cash transaction, subject to certain adjustments, resulting in a pre-tax gain of $ 3.0 billion. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> On December 15, 2021, Corebridge and Blackstone Real Estate Income Trust (“BREIT”), a long-term, perpetual capital vehicle affiliated with Blackstone, completed the acquisition by BREIT of Corebridge’s interests in a U.S. affordable housing portfolio for $ 4.9 billion, in an all cash transaction, subject to certain adjustments, resulting in a pre-tax gain of $ 3.0 billion. </context> | us-gaap:GainsLossesOnSalesOfInvestmentRealEstate |
On November 1, 2021, Corebridge Parent declared a dividend payable to AIG in the amount of $ 8.3 billion. In connection with that dividend, Corebridge Parent issued a promissory note to AIG Parent in the amount of $ 8.3 billion. The promissory note to AIG Parent was paid in full during 2022. | text | 8.3 | monetaryItemType | text: <entity> 8.3 </entity> <entity type> monetaryItemType </entity type> <context> On November 1, 2021, Corebridge Parent declared a dividend payable to AIG in the amount of $ 8.3 billion. In connection with that dividend, Corebridge Parent issued a promissory note to AIG Parent in the amount of $ 8.3 billion. The promissory note to AIG Parent was paid in full during 2022. </context> | us-gaap:DividendsPayableCurrentAndNoncurrent |
Following the sale of AIG’s majority ownership interest in Fortitude Group Holdings, LLC (“Fortitude Holdings”) and a restructuring transaction involving Fortitude Holdings and FHG Parent, L.P. (“Fortitude Re Bermuda”), AIG retained a 3.5 % ownership interest in Fortitude Holdings and one seat on its Board of Managers. On October 1, 2021, AIG, Inc. contributed its remaining 3.5 % ownership interest in Fortitude Re Bermuda to Corebridge. On March 31, 2022, our ownership interest in Fortitude Re Bermuda was reduced to 2.46 % due to a round of equity financing by third-party investors, in which we did not participate. | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> Following the sale of AIG’s majority ownership interest in Fortitude Group Holdings, LLC (“Fortitude Holdings”) and a restructuring transaction involving Fortitude Holdings and FHG Parent, L.P. (“Fortitude Re Bermuda”), AIG retained a 3.5 % ownership interest in Fortitude Holdings and one seat on its Board of Managers. On October 1, 2021, AIG, Inc. contributed its remaining 3.5 % ownership interest in Fortitude Re Bermuda to Corebridge. On March 31, 2022, our ownership interest in Fortitude Re Bermuda was reduced to 2.46 % due to a round of equity financing by third-party investors, in which we did not participate. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
Following the sale of AIG’s majority ownership interest in Fortitude Group Holdings, LLC (“Fortitude Holdings”) and a restructuring transaction involving Fortitude Holdings and FHG Parent, L.P. (“Fortitude Re Bermuda”), AIG retained a 3.5 % ownership interest in Fortitude Holdings and one seat on its Board of Managers. On October 1, 2021, AIG, Inc. contributed its remaining 3.5 % ownership interest in Fortitude Re Bermuda to Corebridge. On March 31, 2022, our ownership interest in Fortitude Re Bermuda was reduced to 2.46 % due to a round of equity financing by third-party investors, in which we did not participate. | text | 2.46 | percentItemType | text: <entity> 2.46 </entity> <entity type> percentItemType </entity type> <context> Following the sale of AIG’s majority ownership interest in Fortitude Group Holdings, LLC (“Fortitude Holdings”) and a restructuring transaction involving Fortitude Holdings and FHG Parent, L.P. (“Fortitude Re Bermuda”), AIG retained a 3.5 % ownership interest in Fortitude Holdings and one seat on its Board of Managers. On October 1, 2021, AIG, Inc. contributed its remaining 3.5 % ownership interest in Fortitude Re Bermuda to Corebridge. On March 31, 2022, our ownership interest in Fortitude Re Bermuda was reduced to 2.46 % due to a round of equity financing by third-party investors, in which we did not participate. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
We adopted the FASB targeted improvements to the accounting for long-duration contracts (the “standard” or “LDTI”) on January 1, 2023 with a transition date of January 1, 2021 (“the transition date”). We adopted the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. We also adopted the standard in relation to MRBs on a full retrospective basis. As of the transition date, the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (“AOCI”) of $ 2.3 billion and a net increase to beginning Shareholders’ net investment of $ 1.2 billion primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement segments, including the impact of non-performance risk adjustments (“NPA”) which reclassified the portion of the changes in fair value attributable to non-performance risk from Shareholders' net investment to AOCI, (2) changes to the discount rate used to measure the liability for future policy benefits which most significantly impacted our Life Insurance and Institutional Markets segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> We adopted the FASB targeted improvements to the accounting for long-duration contracts (the “standard” or “LDTI”) on January 1, 2023 with a transition date of January 1, 2021 (“the transition date”). We adopted the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. We also adopted the standard in relation to MRBs on a full retrospective basis. As of the transition date, the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (“AOCI”) of $ 2.3 billion and a net increase to beginning Shareholders’ net investment of $ 1.2 billion primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement segments, including the impact of non-performance risk adjustments (“NPA”) which reclassified the portion of the changes in fair value attributable to non-performance risk from Shareholders' net investment to AOCI, (2) changes to the discount rate used to measure the liability for future policy benefits which most significantly impacted our Life Insurance and Institutional Markets segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. </context> | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
We adopted the FASB targeted improvements to the accounting for long-duration contracts (the “standard” or “LDTI”) on January 1, 2023 with a transition date of January 1, 2021 (“the transition date”). We adopted the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. We also adopted the standard in relation to MRBs on a full retrospective basis. As of the transition date, the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (“AOCI”) of $ 2.3 billion and a net increase to beginning Shareholders’ net investment of $ 1.2 billion primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement segments, including the impact of non-performance risk adjustments (“NPA”) which reclassified the portion of the changes in fair value attributable to non-performance risk from Shareholders' net investment to AOCI, (2) changes to the discount rate used to measure the liability for future policy benefits which most significantly impacted our Life Insurance and Institutional Markets segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> We adopted the FASB targeted improvements to the accounting for long-duration contracts (the “standard” or “LDTI”) on January 1, 2023 with a transition date of January 1, 2021 (“the transition date”). We adopted the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. We also adopted the standard in relation to MRBs on a full retrospective basis. As of the transition date, the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (“AOCI”) of $ 2.3 billion and a net increase to beginning Shareholders’ net investment of $ 1.2 billion primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement segments, including the impact of non-performance risk adjustments (“NPA”) which reclassified the portion of the changes in fair value attributable to non-performance risk from Shareholders' net investment to AOCI, (2) changes to the discount rate used to measure the liability for future policy benefits which most significantly impacted our Life Insurance and Institutional Markets segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. </context> | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest |
We report our results of operations as five reportable segments: | text | five | integerItemType | text: <entity> five </entity> <entity type> integerItemType </entity type> <context> We report our results of operations as five reportable segments: </context> | us-gaap:NumberOfReportableSegments |
Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 590 | monetaryItemType | text: <entity> 590 </entity> <entity type> monetaryItemType </entity type> <context> Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 6841 | monetaryItemType | text: <entity> 6841 </entity> <entity type> monetaryItemType </entity type> <context> Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. | text | 2012 | monetaryItemType | text: <entity> 2012 </entity> <entity type> monetaryItemType </entity type> <context> Adjustments include Fortitude Re activity of $( 590 ) million, $ 6,841 million and $ 2,012 million for the years ended December 31, 2023, 2022 and 2021, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
To further simplify Corebridge’s business model, on September 25, 2023, Corebridge announced that it entered into a definitive agreement to sell its subsidiary, AIG Life, to Aviva plc for £ 460 million in cash, subject to certain adjustments. The sale is expected to close in the first half of 2024, subject to regulatory approvals and other customary closing conditions. The results of AIG Life are reported in the Life segment. | text | 460 | monetaryItemType | text: <entity> 460 </entity> <entity type> monetaryItemType </entity type> <context> To further simplify Corebridge’s business model, on September 25, 2023, Corebridge announced that it entered into a definitive agreement to sell its subsidiary, AIG Life, to Aviva plc for £ 460 million in cash, subject to certain adjustments. The sale is expected to close in the first half of 2024, subject to regulatory approvals and other customary closing conditions. The results of AIG Life are reported in the Life segment. </context> | us-gaap:ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries |
We have elected fair value option on certain GICs recorded using discounted cash flow calculations based on interest rates currently being offered for similar contracts and our current market observable implicit credit spread rates with maturities consistent with those remaining for the contracts being valued. Obligations may be called at various times prior to maturity at the option of the counterparty. Interest rates on these borrowings are primarily fixed, vary by maturity and range up to 5.04 %. | text | 5.04 | percentItemType | text: <entity> 5.04 </entity> <entity type> percentItemType </entity type> <context> We have elected fair value option on certain GICs recorded using discounted cash flow calculations based on interest rates currently being offered for similar contracts and our current market observable implicit credit spread rates with maturities consistent with those remaining for the contracts being valued. Obligations may be called at various times prior to maturity at the option of the counterparty. Interest rates on these borrowings are primarily fixed, vary by maturity and range up to 5.04 %. </context> | us-gaap:LiabilityForPolicyholderContractDepositsInterestRate |
Includes investments in residential-backed mortgage securities (“RMBS”) issued by related parties of $ 36 million and $ 7 million classified as Level 2 and Level 3, respectively, as of December 31, 2023. Additionally, includes investments in RMBS issued by related parties of $ 37 million and $ 2 million classified as Level 2 and Level 3, respectively, as of December 31, 2022. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> Includes investments in residential-backed mortgage securities (“RMBS”) issued by related parties of $ 36 million and $ 7 million classified as Level 2 and Level 3, respectively, as of December 31, 2023. Additionally, includes investments in RMBS issued by related parties of $ 37 million and $ 2 million classified as Level 2 and Level 3, respectively, as of December 31, 2022. </context> | us-gaap:DebtSecuritiesAvailableForSaleExcludingAccruedInterest |
Includes investments in residential-backed mortgage securities (“RMBS”) issued by related parties of $ 36 million and $ 7 million classified as Level 2 and Level 3, respectively, as of December 31, 2023. Additionally, includes investments in RMBS issued by related parties of $ 37 million and $ 2 million classified as Level 2 and Level 3, respectively, as of December 31, 2022. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> Includes investments in residential-backed mortgage securities (“RMBS”) issued by related parties of $ 36 million and $ 7 million classified as Level 2 and Level 3, respectively, as of December 31, 2023. Additionally, includes investments in RMBS issued by related parties of $ 37 million and $ 2 million classified as Level 2 and Level 3, respectively, as of December 31, 2022. </context> | us-gaap:DebtSecuritiesAvailableForSaleExcludingAccruedInterest |
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