SEC Info - Separate Account A of Pacific Life Insurance Co.

Separate Account A of Pacific Life Insurance Co. – ‘N-VPFS/A’ for 12/31/22

Separate Account A of Pacific Life Insurance Co. – ‘N-VPFS/A’ for 12/31/22

On: Wednesday, 4/12/23, at 4:43pm ET · Effective: 4/12/23 · For: 12/31/22 · Accession #: 1104659-23-44636 · File #: 811-08946

Previous ‘N-VPFS’: ‘N-VPFS’ on 4/10/23 for 12/31/22 · Next & Latest: ‘N-VPFS’ on 4/9/24 for 12/31/23 · 46 References:

Amendment to Financial Statements of a Variable Annuity/Life Contract — Form N-VPFS — ICA’40

Filing Table of Contents

This is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

46 Subsequent Filings that Reference this Filing

On: Wednesday, 4/12/23, at 4:43pm ET · Effective: 4/12/23 · For: 12/31/22 · Accession #: 1104659-23-44636 · File #: 811-08946

Amendment to Financial Statements of a Variable Annuity/Life Contract — Form N-VPFS — ICA’40Filing Table of Contents

This is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

46 Subsequent Filings that Reference this Filing

Amendment to Financial Statements of a Variable Annuity/Life Contract — Form N-VPFS — ICA’40

Filing Table of Contents

TABLE OF CONTENTS

SEPARATE ACCOUNT A

Investments		SA-1
Financial Statements:
Statements of Assets and Liabilities		SA-6
Statements of Operations		SA-26
Statements of Changes in Net Assets		SA-39
Financial Highlights		SA-78
Notes to Financial Statements		SA-95
Report of Independent Registered Public Accounting Firm		SA-105

SEPARATE ACCOUNT A

INVESTMENTS

DECEMBER 31, 2022

Each variable account invests in shares of the corresponding portfolio (with the same name). The shares owned and value of investments as of December 31, 2022; and the cost of purchases and proceeds from sales of investments for the year or period ended December 31, 2022, were as follows:

					Cost of		Proceeds
Variable Accounts	Shares Owned		Value		Purchases		from Sales
Core Income Class I *		3,207,460	$	35,593,228	$	7,792,779	$	6,578,629
Diversified Bond Class I *		18,665,122		181,361,076		21,017,214		38,238,115
Floating Rate Income Class I *		12,139,125		164,833,926		68,270,647		53,829,082
Floating Rate Income Class P *		78,520		1,086,677		712,461		436,695
High Yield Bond Class I *		13,937,646		123,575,629		19,328,882		47,752,865
Inflation Managed Class I *		14,510,293		168,894,834		23,558,905		44,157,552
Intermediate Bond Class I *		907,694		7,883,776		7,853,709		564,288
Managed Bond Class I *		23,095,387		293,081,321		17,875,753		64,375,705
Short Duration Bond Class I *		30,378,531		310,343,731		46,063,705		87,977,981
Emerging Markets Debt Class I *		1,133,771		12,529,287		1,278,234		4,469,663
Dividend Growth Class I *		12,645,685		417,475,598		42,708,507		59,607,348
Equity Index Class I *		13,348,717		1,298,654,410		136,342,334		170,441,586
Focused Growth Class I *		4,018,065		167,696,395		24,685,908		35,772,572
Growth Class I *		6,616,192		295,380,175		46,651,783		64,954,454
Hedged Equity Class I *		12,548,758		121,719,147		104,461,503		15,729,143
Hedged Equity Class P *		158,301		1,540,620		1,468,742		32,672
Large-Cap Core Class I *		4,165,880		227,082,192		12,759,708		39,840,886
Large-Cap Growth Class I *		12,737,328		194,885,971		24,025,261		35,246,247
Large-Cap Value Class I *		7,461,952		239,656,982		40,178,967		39,477,729
Mid-Cap Equity Class I *		7,492,643		211,890,583		22,471,455		30,484,008
Mid-Cap Growth Class I *		11,159,950		247,778,314		32,829,963		39,990,088
Mid-Cap Value Class I *		3,990,419		101,435,500		15,998,534		26,124,471
Small-Cap Equity Class I *		2,215,570		58,278,852		8,765,280		15,005,166
Small-Cap Growth Class I *		4,808,829		112,682,170		23,665,163		17,190,649
Small-Cap Index Class I *		8,025,711		223,771,258		27,768,597		39,641,044
Small-Cap Value Class I *		4,234,109		108,565,074		13,202,690		27,683,467
Value Class I *		9,114,234		177,382,616		26,486,017		35,702,847
Value Advantage Class I *		3,827,437		89,633,794		33,510,697		17,105,640
Emerging Markets Class I *		8,497,240		140,558,833		21,463,284		17,874,769
International Growth Class I *		201,860		1,570,360		1,553,401		313,309
International Large-Cap Class I *		20,528,804		239,860,742		16,032,239		27,104,611
International Small-Cap Class I *		3,100,322		34,140,924		2,833,903		4,978,729
International Value Class I *		7,925,400		111,615,378		13,415,631		20,305,263
Health Sciences Class I *		4,756,638		290,029,923		19,000,841		51,083,482
Real Estate Class I *		3,523,530		104,645,358		8,733,200		26,508,707
Technology Class I *		13,930,466		147,239,438		34,630,338		33,951,643
ESG Diversified Class I *		956,570		8,537,218		5,301,179		521,846
ESG Diversified Class P *		51,142		457,964		467,699		284
ESG Diversified Growth Class I *		98,772		817,932		804,953		135,406
ESG Diversified Growth Class P *		2,482		20,588		19,827		46
PSF Avantis Balanced Allocation Class D *		20,718,315		298,043,025		30,560,212		45,206,867
PSF Avantis Balanced Allocation Class P *		123,160		1,786,035		551,639		145,512
Pacific Dynamix - Conservative Growth Class I *		25,198,493		447,594,685		31,591,240		76,292,250
Pacific Dynamix - Conservative Growth Class P *		90,184		1,612,112		1,711,098		24,279
Pacific Dynamix - Moderate Growth Class I *		91,126,327		2,142,080,679		106,820,414		245,762,252
Pacific Dynamix - Moderate Growth Class P *		23,208		549,068		412,011		9,815
Pacific Dynamix - Growth Class I *		52,835,686		1,451,738,886		234,830,131		100,660,413
Pacific Dynamix - Growth Class P *		29,672		820,502		756,766		61,499
Portfolio Optimization Conservative Class I *		79,380,535		1,049,683,974		135,410,763		262,515,603
Portfolio Optimization Moderate-Conservative Class I *		97,460,553		1,475,089,156		39,408,836		275,907,161
Portfolio Optimization Moderate Class I *		377,120,663		6,383,973,258		49,048,715		968,182,011
Portfolio Optimization Growth Class I *		306,611,421		5,762,247,774		33,894,935		758,116,493
Portfolio Optimization Aggressive-Growth Class I *		63,197,274		1,245,648,547		16,927,390		159,774,460

See Notes to Financial Statements

SA-1

See explanation of symbol on page SA-5

SEPARATE ACCOUNT A

INVESTMENTS (Continued)

DECEMBER 31, 2022

					Cost of		Proceeds
Variable Accounts	Shares Owned		Value		Purchases		from Sales
Invesco Oppenheimer V.I. International Growth Series I		8,319	$	13,976	$	2,751	$	142
Invesco Oppenheimer V.I. International Growth Series II		9,523,903		16,952,547		6,101,175		2,938,457
Invesco® V.I. American Value Series I		2,703		42,440		47,529		585
Invesco® V.I. Balanced-Risk Allocation Series I		14,718		119,803		120,964		973
Invesco® V.I. Balanced-Risk Allocation Series II		37,053,551		295,316,805		114,768,640		49,717,048
Invesco® V.I. Discovery Mid Cap Growth Series I		1,568		87,065		97,810		3,606
Invesco® V.I. Equity and Income Series II		3,369,136		54,007,250		17,399,223		10,495,818
Invesco® V.I. Global Real Estate Series II		629,368		8,005,555		2,376,406		1,887,368
Invesco® V.I. Global Series II		582,384		17,646,231		6,113,667		3,561,678
Invesco® V.I. Main Street Small Cap Fund® Series I		32,294		745,336		901,156		168,611
Invesco® V.I. Nasdaq 100 Buffer - September Series I *		9,562		80,034		94,325		1,707
Invesco® V.I. Nasdaq 100 Buffer - September Series II *		257,303		2,148,477		2,843,494		920,071
Invesco® V.I. Nasdaq 100 Buffer - December Series I *		1,550		11,734		13,456		46
Invesco® V.I. Nasdaq 100 Buffer - December Series II *		344,811		2,603,325		3,589,109		417,113
Invesco® V.I. Nasdaq 100 Buffer - March Series I *		1,511		12,343		13,194		33
Invesco® V.I. Nasdaq 100 Buffer - March Series II *		140,970		1,150,316		1,353,211		82,679
Invesco® V.I. Nasdaq 100 Buffer - June Series II *		312,713		3,055,207		3,312,753		114,318
Invesco® V.I. S&P 500 Buffer - September Series I		41,415		383,915		401,390		19,270
Invesco® V.I. S&P 500 Buffer - September Series II		1,352,471		12,496,833		18,440,544		9,940,028
Invesco® V.I. S&P 500 Buffer - December Series II *		926,105		8,251,594		9,810,777		829,627
Invesco® V.I. S&P 500 Buffer - March Series II *		1,004,692		9,223,073		10,362,731		418,027
Invesco® V.I. S&P 500 Buffer - June Series II		817,210		8,302,851		8,532,034		184,225
Invesco® V.I. Technology Series I		41,409		521,337		887,727		227,258
American Century VP Mid Cap Value Class I		8,240		174,269		172,265		403
American Century VP Mid Cap Value Class II		4,751,202		100,582,939		37,180,584		21,286,313
American Funds IS American High-Income Trust Class 4		4,906,600		45,386,050		17,209,156		14,409,004
American Funds IS Asset Allocation Class 1		126,835		2,815,739		2,089,573		542,745
American Funds IS Asset Allocation Class 4		153,142,131		3,329,309,930		582,764,937		356,223,687
American Funds IS Capital Income Builder® Class 1		74,056		813,873		373,682		46,136
American Funds IS Capital Income Builder® Class 4		10,753,651		117,860,020		16,344,240		15,038,827
American Funds IS Capital World Bond Class 1		15,205		145,206		172,754		11,528
American Funds IS Capital World Bond Class 4		2,297,758		21,438,082		4,050,313		3,259,487
American Funds IS Capital World Growth and Income Class 1		11,358		132,544		110,153		970
American Funds IS Capital World Growth and Income Class 4		5,586,942		63,411,795		24,418,939		9,318,265
American Funds IS Global Balanced Class 4		5,501,934		67,783,829		5,087,815		11,321,136
American Funds IS Global Growth Class 1		11,395		343,899		214,551		7,402
American Funds IS Global Growth Class 4		4,899,063		144,571,353		38,228,813		20,079,522
American Funds IS Global Small Capitalization Class 4		2,545,574		38,896,373		22,181,129		3,859,540
American Funds IS Growth Class 1		25,960		1,980,468		2,513,712		564,840
American Funds IS Growth Class 4		7,500,064		552,304,721		164,777,293		82,821,329
American Funds IS Growth-Income Class 1		33,784		1,696,302		1,634,899		78,792
American Funds IS Growth-Income Class 4		8,430,049		410,711,974		81,173,895		54,831,920
American Funds IS International Class 1		24,330		372,498		371,619		2,697
American Funds IS International Class 4		5,677,415		85,104,452		23,536,475		9,462,124
American Funds IS International Growth and Income Class 1		35,201		314,693		266,628		4,432
American Funds IS International Growth and Income Class 4		6,066,414		51,928,503		33,114,443		7,317,677
American Funds IS Managed Risk Asset Allocation Class P1		23,242		288,901		292,680		8,768
American Funds IS Managed Risk Asset Allocation Class P2		13,754,289		166,289,356		33,053,876		23,823,978
American Funds IS New World Fund® Class 1		41,107		916,682		854,639		98,010
American Funds IS New World Fund® Class 4		2,952,423		64,480,917		16,214,633		8,260,985
American Funds IS The Bond Fund of America Class 1		321,797		3,028,110		3,421,978		183,009
American Funds IS The Bond Fund of America Class 4		14,391,590		132,834,371		24,927,079		19,565,295
American Funds IS U.S. Government Securities Class 1		76,940		768,635		914,263		159,092
American Funds IS U.S. Government Securities Class 4		5,979,700		58,959,841		22,377,162		30,957,875
American Funds IS Washington Mutual Investors Class 1		60,125		762,988		781,149		111,335
American Funds IS Washington Mutual Investors Class 4		16,214,076		200,081,703		85,703,243		26,934,460
BlackRock® 60/40 Target Allocation ETF V.I. Class I		16,291,912		190,452,457		56,420,920		19,862,904

See Notes to Financial Statements

SA-2

See explanation of symbol on page SA-5

SEPARATE ACCOUNT A

INVESTMENTS (Continued)

DECEMBER 31, 2022

					Cost of		Proceeds
Variable Accounts	Shares Owned		Value		Purchases		from Sales
BlackRock® Capital Appreciation V.I. Class III		5,414,923	$	31,189,955	$	8,446,468	$	2,175,228
BlackRock® Equity Dividend V.I. Class I		75,718		768,538		792,922		300,965
BlackRock® Global Allocation V.I. Class I		71,997		1,063,393		1,103,349		13,765
BlackRock® Global Allocation V.I. Class III		100,439,277		1,192,214,218		55,221,990		180,769,102
BlackRock® High Yield V.I. Class I		93,897		605,635		718,490		243,577
BlackRock® S&P 500 Index V.I. Class I		37,340		921,553		1,188,433		355,537
BlackRock® Small Cap Index V.I. Class I		347,875		3,506,583		3,629,097		124,134
BlackRock® Total Return V.I. Class I		108,078		1,086,183		1,066,667		3,041
Delaware Ivy VIP Asset Strategy Class II		2,453,000		19,256,046		8,336,419		4,362,076
Delaware Ivy VIP Energy Class II		12,285,519		62,287,580		56,989,810		50,214,819
DFA VA Equity Allocation Institutional Class		12,169		149,928		59,140		16,942
DFA VA Global Bond Institutional Class		42,248		406,428		226,005		124,394
DFA VA Global Moderate Allocation Institutional Class		26,967		367,834		233,842		12,018
DFA VA International Small Institutional Class		30,960		332,816		204,739		11,247
DFA VA International Value Institutional Class		111,624		1,366,275		758,267		91,549
DFA VA Short-Term Fixed Institutional Class		243,348		2,416,441		2,478,178		464,263
DFA VA US Large Value Institutional Class		93,176		2,835,346		2,698,822		195,686
DFA VA US Targeted Value Institutional Class		46,069		946,259		653,662		147,221
Fidelity® VIP Consumer Discretionary Initial Class *		160		3,776		3,733		-
Fidelity® VIP Contrafund® Initial Class		9,836		372,599		361,946		24,903
Fidelity® VIP Contrafund® Service Class 2		7,552,532		275,969,504		55,272,339		45,255,353
Fidelity® VIP Emerging Markets Initial Class		57,933		571,802		559,148		82,486
Fidelity® VIP Energy Initial Class		28,674		721,447		765,135		226,027
Fidelity® VIP Extended Market Index Initial Class		123,005		1,380,120		1,009,376		134,751
Fidelity® VIP FundsManager® 60% Investor Class		606,011		5,266,237		5,356,804		431
Fidelity® VIP FundsManager® 60% Service Class 2		43,025,716		372,172,439		111,754,293		34,178,503
Fidelity® VIP Government Money Market Initial Class		15,847,110		15,847,110		33,689,151		18,265,029
Fidelity® VIP Government Money Market Service Class		502,230,425		502,230,425		446,748,376		335,301,209
Fidelity® VIP Growth Opportunities Initial Class		8,518		349,503		387,022		13,507
Fidelity® VIP Index 500 Initial Class		7,986		2,993,109		3,707,714		597,262
Fidelity® VIP Investment Grade Bond Initial Class		115,802		1,250,664		1,265,346		6,674
Fidelity® VIP Strategic Income Service Class 2		8,185,143		81,032,912		14,203,343		18,189,668
Fidelity® VIP Value Strategies Initial Class		42,220		607,118		515,034		22,074
First Trust Dorsey Wright Tactical Core Class I		3,188,238		33,444,620		9,837,311		12,543,683
First Trust Multi Income Allocation Class I		1,598,874		17,795,470		3,305,161		4,289,676
First Trust/Dow Jones Dividend & Income Allocation Class I		47,606,101		593,648,079		133,184,454		70,753,015
Franklin Allocation VIP Class 2		4,865,875		21,458,509		3,131,379		2,279,127
Franklin Allocation VIP Class 4		47,916,473		219,457,446		41,002,659		28,813,492
Franklin Income VIP Class 1		15,724		241,997		266,938		11,446
Franklin Income VIP Class 2		4,115,474		60,620,929		23,935,092		11,774,003
Franklin Mutual Global Discovery VIP Class 2		9,046,788		150,267,145		21,060,572		31,052,139
Franklin Mutual Shares VIP Class 1		3,485		54,126		63,169		1,475
Franklin Rising Dividends VIP Class 1		30,319		854,382		1,112,825		266,303
Franklin Rising Dividends VIP Class 2		8,197,672		221,583,077		54,175,266		37,586,596
Franklin Small Cap Value VIP Class 1		10,032		133,632		146,312		739
Franklin Small-Mid Cap Growth VIP Class 1		27,474		368,695		372,516		2,659
Franklin Strategic Income VIP Class 1		33,559		305,052		290,010		837
Templeton Foreign VIP Class 1		2,254		28,042		962		879
Templeton Global Bond VIP Class 1 *		8,117		106,734		57,569		5,976
Templeton Global Bond VIP Class 2 *		4,716,899		58,866,895		3,329,840		12,581,791
Goldman Sachs VIT Large Cap Value Institutional Shares		7,004		58,410		63,287		656
Goldman Sachs VIT Mid Cap Value Institutional Shares		13,050		194,315		133,373		1,653
Goldman Sachs VIT Strategic Growth Institutional Shares		11,328		104,214		133,279		959
Goldman Sachs VIT Trends Driven Allocation Institutional Shares		23,439		235,797		306,479		27,802
Janus Henderson Balanced Institutional Shares		57,666		2,309,509		1,158,301		301,098
Janus Henderson Balanced Service Shares		118,647,137		5,038,943,907		763,122,318		344,677,531
Janus Henderson Enterprise Institutional Shares		8,619		599,718		746,774		162,388

See Notes to Financial Statements

SA-3

See explanation of symbol on page SA-5

SEPARATE ACCOUNT A

INVESTMENTS (Continued)

DECEMBER 31, 2022

					Cost of		Proceeds
Variable Accounts	Shares Owned		Value		Purchases		from Sales
Janus Henderson Flexible Bond Service Shares		2,724,804	$	29,945,595	$	4,802,036	$	7,235,770
JPMorgan Insurance Trust Core Bond Class 1		17,880		172,900		47,953		23,619
JPMorgan Insurance Trust Global Allocation Class 2		684,517		10,664,771		1,973,986		2,049,044
JPMorgan Insurance Trust Income Builder Class 2		1,185,686		11,513,013		1,361,472		2,491,093
JPMorgan Insurance Trust Mid Cap Value Class 1		51,786		540,126		606,200		168,411
JPMorgan Insurance Trust U.S. Equity Class 1		423		13,376		9,941		19,810
ClearBridge Variable Aggressive Growth - Class II		757,300		11,230,759		3,441,161		1,368,154
Western Asset Core Plus VIT Class I		289,363		1,394,731		1,001,309		30,965
Lord Abbett Bond Debenture Class VC		13,353,582		136,206,541		20,752,666		22,598,345
Lord Abbett Total Return Class VC		16,958,527		236,571,455		16,707,352		30,149,443
MFS® International Growth - Initial Class		59,616		795,872		387,018		22,703
MFS® Massachusetts Investors Growth Stock - Service Class		3,543,223		66,825,180		12,841,349		6,480,297
MFS® New Discovery Series - Initial Class		47,333		535,332		410,827		25,416
MFS® Total Return Series - Service Class		19,478,144		427,545,258		97,150,636		63,605,104
MFS® Utilities Series - Initial Class		4,659		169,209		136,603		4,773
MFS® Utilities Series - Service Class		1,933,278		68,766,693		28,000,385		17,603,393
MFS® Value Series - Initial Class		5,752		123,947		117,887		2,452
MFS® Value Series - Service Class		3,634,922		76,442,410		7,938,712		10,462,516
Neuberger Berman U.S. Equity Index PutWrite Strategy Class S		464,367		3,807,812		2,505,837		855,158
TOPS® Aggressive Growth ETF Class 1		256		4,222		68,467		53,107
TOPS® Balanced ETF Class 1		15,360		199,061		163,560		2,277
TOPS® Conservative ETF Class 1		26,321		316,110		633,312		304,333
TOPS® Growth ETF Class 1		10,533		172,316		139,350		202,197
TOPS® Managed Risk Growth ETF Class 1		1,557		8,594		13,707		85
TOPS® Moderate Growth ETF Class 1		4,052		53,329		53,990		240
PIMCO All Asset - Advisor Class		510,162		4,469,021		1,701,765		1,208,078
PIMCO CommodityRealReturn® Strategy - Advisor Class		4,524,367		31,715,813		65,227,866		47,537,803
PIMCO Emerging Markets Bond - Institutional Class		28,176		283,167		184,353		20,916
PIMCO Income - Advisor Class		2,075,499		20,111,583		8,738,020		6,446,972
PIMCO Long-Term U.S. Government - Institutional Class		26,465		207,223		234,170		2,778
PIMCO Low Duration - Institutional Class		75,590		716,589		987,983		284,224
PIMCO Total Return - Institutional Class		166,530		1,495,439		1,576,540		138,179
PSF International Growth Class II *		4,870		45,434		-		3,678
PSF Mid-Cap Growth Class II *		1,030		21,312		1,233		1,178
PSF PGIM Jennison Growth Class II *		862		75,093		-		1,351
PSF PGIM Jennison Value Class II *		2,097		89,053		-		5,438
Schwab S&P 500 Index		351,524		19,818,905		17,187,751		2,578,517
Schwab VIT Balanced		4,649,962		57,334,034		7,369,198		11,451,095
Schwab VIT Balanced with Growth		9,034,457		125,849,991		9,379,867		10,729,597
Schwab VIT Growth		8,727,224		136,930,148		14,079,957		15,480,575
State Street Total Return V.I.S. Class 3		20,924,610		273,066,166		12,893,738		52,313,182
T. Rowe Price Blue Chip Growth - I		28,539		882,996		1,087,270		29,569
T. Rowe Price Equity Income - I		10,736		289,975		225,879		20,177
T. Rowe Price Health Sciences - I		7,981		444,847		217,083		18,285
VanEck VIP Global Resources Class S		1,023,819		27,806,919		22,090,083		17,234,349
Vanguard® VIF Balanced		479,877		10,422,930		8,361,983		594,245
Vanguard® VIF Capital Growth		32,644		1,266,897		1,268,208		171,907
Vanguard® VIF Conservative Allocation		144,857		3,295,501		2,719,901		1,395,135
Vanguard® VIF Diversified Value		81,318		1,139,262		604,941		124,728
Vanguard® VIF Equity Income		89,053		2,147,062		3,351,993		1,561,657
Vanguard® VIF Equity Index		41,072		2,084,017		311,032		241,360
Vanguard® VIF Global Bond Index		53,450		953,006		273,691		36,995
Vanguard® VIF Growth		81,320		1,474,332		1,611,353		233,323
Vanguard® VIF High Yield Bond		130,529		907,174		871,445		276,850
Vanguard® VIF International		19,055		429,112		535,883		165,779
Vanguard® VIF Mid-Cap Index		158,952		3,398,383		3,452,525		269,389
Vanguard® VIF Moderate Allocation		513,389		13,681,809		9,688,878		1,013,239

See Notes to Financial Statements

SA-4

See explanation of symbol on page SA-5

SEPARATE ACCOUNT A

INVESTMENTS (Continued)

DECEMBER 31, 2022

					Cost of		Proceeds
Variable Accounts	Shares Owned		Value		Purchases		from Sales
Vanguard® VIF Real Estate Index		113,881	$	1,313,050	$	1,510,515	$	29,325
Vanguard® VIF Short-Term Investment-Grade		405,301		4,020,588		3,446,019		426,202
Vanguard® VIF Total Bond Market Index		736,721		7,602,958		4,461,749		2,250,939
Vanguard® VIF Total International Stock Market Index		376,976		7,181,400		5,197,150		205,907
Vanguard® VIF Total Stock Market Index		170,900		7,229,076		6,656,447		1,567,095

* The variable account did not receive any dividend or capital gain distributions from its underlying portfolio during the reporting period.

See Notes to Financial Statements

SA-5

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES

DECEMBER 31, 2022

	Variable Accounts
	Core		Diversified		Floating		Floating		High Yield		Inflation
	Income		Bond		Rate Income		Rate Income		Bond		Managed
	Class I		Class I		Class I		Class P		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	35,593,228	$	181,361,076	$	164,833,926	$	1,086,677	$	123,575,629	$	168,894,834
Receivables:
Due from Pacific Life Insurance Company		106,357		39,535		-		-		-		15,049
Investments sold		-		-		152,960		569		43,498		-
Total Assets		35,699,585		181,400,611		164,986,886		1,087,246		123,619,127		168,909,883
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		160,007		590		40,029		-
Investments purchased		108,029		39,738		-		-		-		9,422
Total Liabilities		108,029		39,738		160,007		590		40,029		9,422
NET ASSETS	$	35,591,556	$	181,360,873	$	164,826,879	$	1,086,656	$	123,579,098	$	168,900,461
NET ASSETS CONSIST OF:
Accumulation units		35,540,010		181,252,245		164,728,797		1,086,656		123,397,800		168,799,538
Contracts in payout (annuitization) period		51,546		108,628		98,082		-		181,298		100,923
NET ASSETS	$	35,591,556	$	181,360,873	$	164,826,879	$	1,086,656	$	123,579,098	$	168,900,461
Units Outstanding		3,478,965		16,208,941		13,808,314		107,305		7,526,318		11,807,580
Accumulation Unit Value		$8.71 - $10.83		$8.07 - $15.43		$9.86 - $13.06		$10.11 - $10.14		$10.08 - $27.79		$9.01 - $23.87
Cost of Investments	$	35,346,156	$	164,036,060	$	142,036,268	$	1,080,787	$	65,244,219	$	144,187,860

	Intermediate		Managed		Short Duration		Emerging		Dividend		Equity
	Bond		Bond		Bond		Markets Debt		Growth		Index
	Class I		Class I		Class I		Class I		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	7,883,776	$	293,081,321	$	310,343,731	$	12,529,287	$	417,475,598	$	1,298,654,410
Receivables:
Due from Pacific Life Insurance Company		5,462		-		-		-		-		22,728
Investments sold		-		23,353		355,078		4,332		144,981		-
Total Assets		7,889,238		293,104,674		310,698,809		12,533,619		417,620,579		1,298,677,138
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		18,169		353,698		4,796		140,571		-
Investments purchased		5,738		-		-		-		-		18,750
Total Liabilities		5,738		18,169		353,698		4,796		140,571		18,750
NET ASSETS	$	7,883,500	$	293,086,505	$	310,345,111	$	12,528,823	$	417,480,008	$	1,298,658,388
NET ASSETS CONSIST OF:
Accumulation units		7,883,500		292,721,126		310,281,876		12,520,325		417,086,936		1,298,244,887
Contracts in payout (annuitization) period		-		365,379		63,235		8,498		393,072		413,501
NET ASSETS	$	7,883,500	$	293,086,505	$	310,345,111	$	12,528,823	$	417,480,008	$	1,298,658,388
Units Outstanding		914,805		20,838,582		30,813,210		1,318,192		14,678,660		48,691,993
Accumulation Unit Value		$8.51 - $9.60		$8.54 - $23.89		$9.07 - $12.58		$8.51 - $10.83		$9.93 - $41.20		$9.13 - $65.04
Cost of Investments	$	8,193,921	$	239,027,657	$	278,893,383	$	11,069,303	$	94,242,139	$	445,614,837

See Notes to Financial Statements

SA-6

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Focused				Hedged		Hedged		Large-Cap		Large-Cap
	Growth		Growth		Equity		Equity		Core		Growth
	Class I		Class I		Class I		Class P		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	167,696,395	$	295,380,175	$	121,719,147	$	1,540,620	$	227,082,192	$	194,885,971
Receivables:
Due from Pacific Life Insurance Company		102,870		78,942		-		-		48,159		128,232
Investments sold		-		-		31,703		2,385		-		-
Total Assets		167,799,265		295,459,117		121,750,850		1,543,005		227,130,351		195,014,203
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		34,806		2,406		-		-
Investments purchased		100,629		78,224		-		-		43,212		125,420
Total Liabilities		100,629		78,224		34,806		2,406		43,212		125,420
NET ASSETS	$	167,698,636	$	295,380,893	$	121,716,044	$	1,540,599	$	227,087,139	$	194,888,783
NET ASSETS CONSIST OF:
Accumulation units		167,636,211		294,972,020		121,716,044		1,540,599		226,225,106		194,626,014
Contracts in payout (annuitization) period		62,425		408,873		-		-		862,033		262,769
NET ASSETS	$	167,698,636	$	295,380,893	$	121,716,044	$	1,540,599	$	227,087,139	$	194,888,783
Units Outstanding		5,455,323		7,706,459		12,776,603		162,474		6,807,796		8,517,159
Accumulation Unit Value		$7.27 - $68.57		$7.86 - $74.31		$9.40 - $10.03		$9.48 - $9.48		$9.96 - $47.51		$9.17 - $36.74
Cost of Investments	$	24,575,704	$	81,275,107	$	123,560,558	$	1,546,168	$	50,779,996	$	47,207,475

	Large-Cap		Mid-Cap		Mid-Cap		Mid-Cap		Small-Cap		Small-Cap
	Value		Equity		Growth		Value		Equity		Growth
	Class I		Class I		Class I		Class I		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	239,656,982	$	211,890,583	$	247,778,314	$	101,435,500	$	58,278,852	$	112,682,170
Receivables:
Due from Pacific Life Insurance Company		-		-		112,329		-		-		29,001
Investments sold		195,135		83,299		-		66,224		28,411		-
Total Assets		239,852,117		211,973,882		247,890,643		101,501,724		58,307,263		112,711,171
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		191,629		80,606		-		63,902		28,460		-
Investments purchased		-		-		109,749		-		-		26,724
Total Liabilities		191,629		80,606		109,749		63,902		28,460		26,724
NET ASSETS	$	239,660,488	$	211,893,276	$	247,780,894	$	101,437,822	$	58,278,803	$	112,684,447
NET ASSETS CONSIST OF:
Accumulation units		239,269,966		211,653,050		247,569,101		101,281,329		58,241,964		112,500,211
Contracts in payout (annuitization) period		390,522		240,226		211,793		156,493		36,839		184,236
NET ASSETS	$	239,660,488	$	211,893,276	$	247,780,894	$	101,437,822	$	58,278,803	$	112,684,447
Units Outstanding		9,393,789		6,835,391		9,155,547		4,211,163		2,731,229		4,818,532
Accumulation Unit Value		$9.68 - $36.24		$8.31 - $54.70		$7.53 - $36.70		$9.39 - $42.68		$8.43 - $39.48		$6.70 - $31.93
Cost of Investments	$	61,656,480	$	59,248,394	$	48,833,164	$	38,857,489	$	19,853,808	$	34,053,362

See Notes to Financial Statements

SA-7

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Small-Cap		Small-Cap				Value		Emerging		International
	Index		Value		Value		Advantage		Markets		Growth
	Class I		Class I		Class I		Class I		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	223,771,258	$	108,565,074	$	177,382,616	$	89,633,794	$	140,558,833	$	1,570,360
Receivables:
Due from Pacific Life Insurance Company		-		148,452		-		-		21,561		-
Investments sold		43,705		-		335,056		74,070		-		168
Total Assets		223,814,963		108,713,526		177,717,672		89,707,864		140,580,394		1,570,528
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		41,139		-		332,070		76,692		-		234
Investments purchased		-		146,261		-		-		20,415		-
Total Liabilities		41,139		146,261		332,070		76,692		20,415		234
NET ASSETS	$	223,773,824	$	108,567,265	$	177,385,602	$	89,631,172	$	140,559,979	$	1,570,294
NET ASSETS CONSIST OF:
Accumulation units		223,608,276		108,481,985		177,317,808		89,596,275		140,423,184		1,570,294
Contracts in payout (annuitization) period		165,548		85,280		67,794		34,897		136,795		-
NET ASSETS	$	223,773,824	$	108,567,265	$	177,385,602	$	89,631,172	$	140,559,979	$	1,570,294
Units Outstanding		10,299,941		4,332,834		7,848,410		4,430,519		9,163,589		203,289
Accumulation Unit Value		$7.61 - $38.93		$8.11 - $60.14		$10.32 - $30.80		$10.46 - $22.53		$6.29 - $63.03		$7.54 - $10.48
Cost of Investments	$	61,164,107	$	36,040,238	$	49,480,139	$	65,252,124	$	49,697,613	$	1,610,472

	International		International		International		Health		Real
	Large-Cap		Small-Cap		Value		Sciences		Estate		Technology
	Class I		Class I		Class I		Class I		Class I		Class I
ASSETS
Investments in mutual funds, at value	$	239,860,742	$	34,140,924	$	111,615,378	$	290,029,923	$	104,645,358	$	147,239,438
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		63,254		324,159
Investments sold		441,322		41,794		314,655		51,341		-		-
Total Assets		240,302,064		34,182,718		111,930,033		290,081,264		104,708,612		147,563,597
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		436,807		40,276		311,928		45,928		-		-
Investments purchased		-		-		-		-		59,414		323,137
Total Liabilities		436,807		40,276		311,928		45,928		59,414		323,137
NET ASSETS	$	239,865,257	$	34,142,442	$	111,618,105	$	290,035,336	$	104,649,198	$	147,240,460
NET ASSETS CONSIST OF:
Accumulation units		239,648,829		34,102,624		111,365,283		289,888,043		104,439,907		147,204,888
Contracts in payout (annuitization) period		216,428		39,818		252,822		147,293		209,291		35,572
NET ASSETS	$	239,865,257	$	34,142,442	$	111,618,105	$	290,035,336	$	104,649,198	$	147,240,460
Units Outstanding		13,611,310		2,513,634		8,564,092		6,978,977		4,308,652		7,575,806
Accumulation Unit Value		$8.71 - $31.13		$10.39 - $19.97		$7.87 - $15.97		$10.06 - $94.07		$9.27 - $61.08		$6.88 - $24.73
Cost of Investments	$	86,930,399	$	14,236,068	$	57,043,698	$	34,792,792	$	24,172,683	$	50,438,142

See Notes to Financial Statements

SA-8

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
					ESG		ESG		PSF Avantis		PSF Avantis
	ESG		ESG		Diversified		Diversified		Balanced		Balanced
	Diversified		Diversified		Growth		Growth		Allocation		Allocation
	Class I		Class P		Class I		Class P		Class D		Class P
ASSETS
Investments in mutual funds, at value	$	8,537,218	$	457,964	$	817,932	$	20,588	$	298,043,025	$	1,786,035
Receivables:
Due from Pacific Life Insurance Company		-		-		6,972		-		-		-
Investments sold		-		164		-		31		12,935		1,040
Total Assets		8,537,218		458,128		824,904		20,619		298,055,960		1,787,075
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		232		170		-		31		17,413		1,068
Investments purchased		160		-		6,997		-		-		-
Total Liabilities		392		170		6,997		31		17,413		1,068
NET ASSETS	$	8,536,826	$	457,958	$	817,907	$	20,588	$	298,038,547	$	1,786,007
NET ASSETS CONSIST OF:
Accumulation units		8,536,826		457,958		817,907		20,588		297,988,429		1,786,007
Contracts in payout (annuitization) period		-		-		-		-		50,118		-
NET ASSETS	$	8,536,826	$	457,958	$	817,907	$	20,588	$	298,038,547	$	1,786,007
Units Outstanding		977,900		52,658		98,168		2,201		23,391,029		192,749
Accumulation Unit Value		$8.61 - $9.96		$8.70 - $8.70		$8.08 - $10.03		$9.35 - $9.35		$8.78 - $13.96		$9.27 - $9.27
Cost of Investments	$	9,329,937	$	467,411	$	868,153	$	19,780	$	247,007,210	$	1,975,906

	Pacific		Pacific		Pacific		Pacific
	Dynamix -		Dynamix -		Dynamix -		Dynamix -		Pacific		Pacific
	Conservative		Conservative		Moderate		Moderate		Dynamix -		Dynamix -
	Growth		Growth		Growth		Growth		Growth		Growth
	Class I		Class P		Class I		Class P		Class I		Class P
ASSETS
Investments in mutual funds, at value	$	447,594,685	$	1,612,112	$	2,142,080,679	$	549,068	$	1,451,738,886	$	820,502
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		88,094		1,882		260,886		987		820,137		1,831
Total Assets		447,682,779		1,613,994		2,142,341,565		550,055		1,452,559,023		822,333
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		86,261		1,907		254,258		995		817,093		1,852
Investments purchased		-		-		-		-		-		-
Total Liabilities		86,261		1,907		254,258		995		817,093		1,852
NET ASSETS	$	447,596,518	$	1,612,087	$	2,142,087,307	$	549,060	$	1,451,741,930	$	820,481
NET ASSETS CONSIST OF:
Accumulation units		447,219,611		1,612,087		2,141,550,152		549,060		1,451,256,134		820,481
Contracts in payout (annuitization) period		376,907		-		537,155		-		485,796		-
NET ASSETS	$	447,596,518	$	1,612,087	$	2,142,087,307	$	549,060	$	1,451,741,930	$	820,481
Units Outstanding		31,221,950		181,540		136,624,336		61,197		79,846,588		90,287
Accumulation Unit Value		$8.81 - $20.45		$8.87 - $8.89		$8.58 - $25.10		$8.96 - $8.99		$10.09 - $30.30		$9.09 - $9.09
Cost of Investments	$	293,449,335	$	1,761,439	$	1,255,576,440	$	585,400	$	1,057,545,141	$	911,605

See Notes to Financial Statements

SA-9

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
			Portfolio						Portfolio		Invesco
	Portfolio		Optimization		Portfolio		Portfolio		Optimization		Oppenheimer
	Optimization		Moderate-		Optimization		Optimization		Aggressive-		V.I. International
	Conservative		Conservative		Moderate		Growth		Growth		Growth
	Class I		Class I		Class I		Class I		Class I		Series I
ASSETS
Investments in mutual funds, at value	$	1,049,683,974	$	1,475,089,156	$	6,383,973,258	$	5,762,247,774	$	1,245,648,547	$	13,976
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		1,079,213		722,893		2,345,377		2,498,792		620,604		-
Total Assets		1,050,763,187		1,475,812,049		6,386,318,635		5,764,746,566		1,246,269,151		13,976
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		1,071,496		712,326		2,332,831		2,487,825		614,143		-
Investments purchased		-		-		-		-		-		-
Total Liabilities		1,071,496		712,326		2,332,831		2,487,825		614,143		-
NET ASSETS	$	1,049,691,691	$	1,475,099,723	$	6,383,985,804	$	5,762,258,741	$	1,245,655,008	$	13,976
NET ASSETS CONSIST OF:
Accumulation units		1,048,076,093		1,473,899,717		6,378,262,574		5,758,287,618		1,244,980,344		13,976
Contracts in payout (annuitization) period		1,615,598		1,200,006		5,723,230		3,971,123		674,664		-
NET ASSETS	$	1,049,691,691	$	1,475,099,723	$	6,383,985,804	$	5,762,258,741	$	1,245,655,008	$	13,976
Units Outstanding		92,539,434		112,884,194		438,793,672		358,621,932		74,256,762		1,821
Accumulation Unit Value		$8.60 - $13.06		$8.57 - $14.89		$8.55 - $16.84		$8.51 - $19.11		$10.18 - $20.55		$7.67 - $7.67
Cost of Investments	$	776,094,844	$	945,752,415	$	3,612,987,220	$	2,898,368,912	$	589,444,092	$	24,469

	Invesco								Invesco V.I.
	Oppenheimer		Invesco V.I.		Invesco V.I.		Invesco V.I.		Discovery		Invesco V.I.
	V.I. International		American		Balanced-Risk		Balanced-Risk		Mid Cap		Equity and
	Growth		Value		Allocation		Allocation		Growth		Income
	Series II		Series I		Series I		Series II		Series I		Series II
ASSETS
Investments in mutual funds, at value	$	16,952,547	$	42,440	$	119,803	$	295,316,805	$	87,065	$	54,007,250
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		4,954		160		165		99,486		67		55,402
Total Assets		16,957,501		42,600		119,968		295,416,291		87,132		54,062,652
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		5,680		161		167		96,376		72		58,095
Investments purchased		-		-		-		-		-		-
Total Liabilities		5,680		161		167		96,376		72		58,095
NET ASSETS	$	16,951,821	$	42,439	$	119,801	$	295,319,915	$	87,060	$	54,004,557
NET ASSETS CONSIST OF:
Accumulation units		16,923,057		42,439		119,801		295,309,557		87,060		54,004,557
Contracts in payout (annuitization) period		28,764		-		-		10,358		-		-
NET ASSETS	$	16,951,821	$	42,439	$	119,801	$	295,319,915	$	87,060	$	54,004,557
Units Outstanding		1,501,782		3,682		13,320		20,395,509		11,622		3,539,176
Accumulation Unit Value		$7.39 - $12.76		$11.53 - $11.53		$8.99 - $8.99		$8.94 - $22.34		$7.48 - $7.50		$10.40 - $16.51
Cost of Investments	$	20,992,420	$	46,894	$	143,705	$	363,658,881	$	123,435	$	55,451,901

See Notes to Financial Statements

SA-10

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
									Invesco V.I.		Invesco V.I.
	Invesco V.I.		Invesco V.I.				Invesco V.I.		Nasdaq 100		Nasdaq 100
	EQV International		Global		Invesco V.I.		Main Street		Buffer -		Buffer -
	Equity		Real Estate		Global		Small Cap Fund		September		September
	Series I (1)		Series II		Series II		Series I		Series I		Series II
ASSETS
Investments in mutual funds, at value	$	-	$	8,005,555	$	17,646,231	$	745,336	$	80,034	$	2,148,477
Receivables:
Due from Pacific Life Insurance Company		-		3,089		19,541		58,749		-		-
Investments sold		-		-		-		-		9		68
Total Assets		-		8,008,644		17,665,772		804,085		80,043		2,148,545
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		-		-		10		175
Investments purchased		-		3,572		20,220		58,761		-		-
Total Liabilities		-		3,572		20,220		58,761		10		175
NET ASSETS	$	-	$	8,005,072	$	17,645,552	$	745,324	$	80,033	$	2,148,370
NET ASSETS CONSIST OF:
Accumulation units		-		8,005,072		17,631,165		745,324		80,033		2,148,370
Contracts in payout (annuitization) period		-		-		14,387		-		-		-
NET ASSETS	$	-	$	8,005,072	$	17,645,552	$	745,324	$	80,033	$	2,148,370
Units Outstanding		-		852,966		1,274,354		82,118		9,654		254,767
Accumulation Unit Value		See Note (1)		$8.07 - $10.82		$9.74 - $15.36		$9.07 - $9.09		$8.29 - $8.29		$8.14 - $9.44
Cost of Investments	$	-	$	9,268,689	$	20,879,495	$	783,069	$	92,427	$	2,264,759

	Invesco V.I.		Invesco V.I.		Invesco V.I.		Invesco V.I.		Invesco V.I.		Invesco V.I.
	Nasdaq 100		Nasdaq 100		Nasdaq 100		Nasdaq 100		Nasdaq 100		S&P 500
	Buffer -		Buffer -		Buffer -		Buffer -		Buffer -		Buffer -
	December		December		March		March		June		September
	Series I		Series II		Series I		Series II		Series II		Series I
ASSETS
Investments in mutual funds, at value	$	11,734	$	2,603,325	$	12,343	$	1,150,316	$	3,055,207	$	383,915
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		-		87		8		38		103		372
Total Assets		11,734		2,603,412		12,351		1,150,354		3,055,310		384,287
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		1		211		8		113		347		376
Investments purchased		-		-		-		-		-		-
Total Liabilities		1		211		8		113		347		376
NET ASSETS	$	11,733	$	2,603,201	$	12,343	$	1,150,241	$	3,054,963	$	383,911
NET ASSETS CONSIST OF:
Accumulation units		11,733		2,603,201		12,343		1,150,241		3,054,963		383,911
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	11,733	$	2,603,201	$	12,343	$	1,150,241	$	3,054,963	$	383,911
Units Outstanding		1,557		347,498		1,513		141,942		316,981		40,765
Accumulation Unit Value		$7.54 - $7.54		$7.44 - $9.32		$8.16 - $8.16		$8.09 - $9.49		$9.50 - $9.64		$9.42 - $9.42
Cost of Investments	$	13,408	$	3,072,919	$	13,159	$	1,260,761	$	3,187,734	$	399,330

(1) All units were fully redeemed or transferred prior to December 31, 2022 (See Financial Highlights for date of full redemption).

See Notes to Financial Statements

SA-11

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Invesco V.I.		Invesco V.I.		Invesco V.I.		Invesco V.I.
	S&P 500		S&P 500		S&P 500		S&P 500				American
	Buffer -		Buffer -		Buffer -		Buffer -		Invesco V.I.		Century
	September		December		March		June		Technology		VP Mid Cap Value
	Series II		Series II		Series II		Series II		Series I		Class I
ASSETS
Investments in mutual funds, at value	$	12,496,833	$	8,251,594	$	9,223,073	$	8,302,851	$	521,337	$	174,269
Receivables:
Due from Pacific Life Insurance Company		20,344		-		176,141		-		-		-
Investments sold		-		263		-		281		423		159
Total Assets		12,517,177		8,251,857		9,399,214		8,303,132		521,760		174,428
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		587		-		750		435		163
Investments purchased		21,022		-		176,867		-		-		-
Total Liabilities		21,022		587		176,867		750		435		163
NET ASSETS	$	12,496,155	$	8,251,270	$	9,222,347	$	8,302,382	$	521,325	$	174,265
NET ASSETS CONSIST OF:
Accumulation units		12,496,155		8,251,270		9,222,347		8,302,382		521,325		174,265
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	12,496,155	$	8,251,270	$	9,222,347	$	8,302,382	$	521,325	$	174,265
Units Outstanding		1,329,890		939,885		1,014,794		824,362		82,946		15,076
Accumulation Unit Value		$9.24 - $10.14		$8.74 - $10.12		$9.06 - $10.19		$10.04 - $10.07		$6.28 - $6.30		$11.54 - $11.57
Cost of Investments	$	12,279,010	$	8,871,457	$	9,893,647	$	8,335,140	$	730,057	$	171,845

			American Funds
	American		IS American						American Funds		American Funds
	Century		High-		American Funds		American Funds		IS Capital		IS Capital
	VP Mid Cap		Income		IS Asset		IS Asset		Income		Income
	Value		Trust		Allocation		Allocation		Builder		Builder
	Class II		Class 4		Class 1		Class 4		Class 1		Class 4
ASSETS
Investments in mutual funds, at value	$	100,582,939	$	45,386,050	$	2,815,739	$	3,329,309,930	$	813,873	$	117,860,020
Receivables:
Due from Pacific Life Insurance Company		205,733		164,249		-		-		-		-
Investments sold		-		-		3,667		676,265		1,406		28,260
Total Assets		100,788,672		45,550,299		2,819,406		3,329,986,195		815,279		117,888,280
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		3,708		675,473		1,425		31,145
Investments purchased		206,636		165,387		-		-		-		-
Total Liabilities		206,636		165,387		3,708		675,473		1,425		31,145
NET ASSETS	$	100,582,036	$	45,384,912	$	2,815,698	$	3,329,310,722	$	813,854	$	117,857,135
NET ASSETS CONSIST OF:
Accumulation units		100,538,520		45,384,912		2,815,698		3,328,782,267		813,854		117,805,578
Contracts in payout (annuitization) period		43,516		-		-		528,455		-		51,557
NET ASSETS	$	100,582,036	$	45,384,912	$	2,815,698	$	3,329,310,722	$	813,854	$	117,857,135
Units Outstanding		4,624,001		3,641,673		291,614		235,781,171		78,483		9,376,116
Accumulation Unit Value	$10.05 - $26.36			$9.17 - $13.29		$9.64 - $9.67		$8.92 - $15.99		$10.37 - $10.40		$9.48 - $13.62
Cost of Investments	$	87,868,829	$	49,875,437	$	3,143,111	$	3,259,499,308	$	858,926	$	105,166,929

See Notes to Financial Statements

SA-12

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
					American Funds		American Funds
	American Funds		American Funds		IS Capital World		IS Capital World
	IS Capital		IS Capital		Growth and		Growth and		American Funds		American Funds
	World Bond		World Bond		Income		Income		IS Global Balanced		IS Global Growth
	Class 1		Class 4		Class 1		Class 4		Class 4		Class 1
ASSETS
Investments in mutual funds, at value	$	145,206	$	21,438,082	$	132,544	$	63,411,795	$	67,783,829	$	343,899
Receivables:
Due from Pacific Life Insurance Company		-		8,169		-		3,466		-		-
Investments sold		294		-		157		-		18,798		417
Total Assets		145,500		21,446,251		132,701		63,415,261		67,802,627		344,316
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		302		-		159		-		20,451		423
Investments purchased		-		9,064		-		4,755		-		-
Total Liabilities		302		9,064		159		4,755		20,451		423
NET ASSETS	$	145,198	$	21,437,187	$	132,542	$	63,410,506	$	67,782,176	$	343,893
NET ASSETS CONSIST OF:
Accumulation units		145,198		21,413,785		132,542		63,363,140		67,767,309		343,893
Contracts in payout (annuitization) period		-		23,402		-		47,366		14,867		-
NET ASSETS	$	145,198	$	21,437,187	$	132,542	$	63,410,506	$	67,782,176	$	343,893
Units Outstanding		18,467		2,381,252		14,549		4,314,793		5,130,674		42,404
Accumulation Unit Value		$7.86 - $7.88		$7.87 - $9.83		$9.09 - $9.12		$10.53 - $15.48		$10.27 - $13.87		$8.10 - $8.12
Cost of Investments	$	159,259	$	26,045,575	$	154,997	$	75,978,011	$	67,737,900	$	430,277

			American Funds
	American Funds		IS Global Small		American Funds		American Funds		American Funds		American Funds
	IS Global Growth		Capitalization		IS Growth		IS Growth		IS Growth-Income		IS Growth-Income
	Class 4		Class 4		Class 1		Class 4		Class 1		Class 4
ASSETS
Investments in mutual funds, at value	$	144,571,353	$	38,896,373	$	1,980,468	$	552,304,721	$	1,696,302	$	410,711,974
Receivables:
Due from Pacific Life Insurance Company		22,380		5,631		-		449,965		-		-
Investments sold		-		-		898		-		2,682		157,859
Total Assets		144,593,733		38,902,004		1,981,366		552,754,686		1,698,984		410,869,833
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		929		-		2,710		158,482
Investments purchased		25,317		7,194		-		450,672		-		-
Total Liabilities		25,317		7,194		929		450,672		2,710		158,482
NET ASSETS	$	144,568,416	$	38,894,810	$	1,980,437	$	552,304,014	$	1,696,274	$	410,711,351
NET ASSETS CONSIST OF:
Accumulation units		144,421,864		38,881,495		1,980,437		552,027,242		1,696,274		410,446,154
Contracts in payout (annuitization) period		146,552		13,315		-		276,772		-		265,197
NET ASSETS	$	144,568,416	$	38,894,810	$	1,980,437	$	552,304,014	$	1,696,274	$	410,711,351
Units Outstanding		7,747,403		2,931,121		249,427		26,097,738		170,804		23,213,330
Accumulation Unit Value		$7.89 - $20.36		$10.21 - $14.04		$7.93 - $7.95		$7.67 - $25.39		$9.91 - $9.94		$8.98 - $20.13
Cost of Investments	$	138,537,745	$	54,225,749	$	2,101,915	$	544,261,689	$	1,983,482	$	383,995,462

See Notes to Financial Statements

SA-13

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
					American		American		American Funds		American Funds
	American		American		Funds IS		Funds IS		IS Managed		IS Managed
	Funds IS		Funds IS		International Growth		International Growth		Risk Asset		Risk Asset
	International		International		and Income		and Income		Allocation		Allocation
	Class 1		Class 4		Class 1		Class 4		Class P1		Class P2
ASSETS
Investments in mutual funds, at value	$	372,498	$	85,104,452	$	314,693	$	51,928,503	$	288,901	$	166,289,356
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		46,151
Investments sold		504		124,242		241		76,241		729		-
Total Assets		373,002		85,228,694		314,934		52,004,744		289,630		166,335,507
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		510		126,607		247		78,376		732		-
Investments purchased		-		-		-		-		-		49,447
Total Liabilities		510		126,607		247		78,376		732		49,447
NET ASSETS	$	372,492	$	85,102,087	$	314,687	$	51,926,368	$	288,898	$	166,286,060
NET ASSETS CONSIST OF:
Accumulation units		372,492		85,102,087		314,687		51,924,492		288,898		166,266,452
Contracts in payout (annuitization) period		-		-		-		1,876		-		19,608
NET ASSETS	$	372,492	$	85,102,087	$	314,687	$	51,926,368	$	288,898	$	166,286,060
Units Outstanding		50,049		7,919,990		36,552		4,829,629		30,658		13,359,897
Accumulation Unit Value		$7.42 - $7.44		$9.85 - $12.17		$8.59 - $8.61		$8.07 - $12.75		$9.42 - $9.42		$8.84 - $14.33
Cost of Investments	$	431,710	$	103,184,075	$	376,368	$	72,687,110	$	283,306	$	166,700,408

					American		American
					Funds		Funds		American		American
	American		American		IS The Bond		IS The Bond		Funds IS		Funds IS
	Funds IS		Funds IS		Fund		Fund		U.S. Government		U.S. Government
	New World Fund		New World Fund		of America		of America		Securities		Securities
	Class 1		Class 4		Class 1		Class 4		Class 1		Class 4
ASSETS
Investments in mutual funds, at value	$	916,682	$	64,480,917	$	3,028,110	$	132,834,371	$	768,635	$	58,959,841
Receivables:
Due from Pacific Life Insurance Company		-		-		331,757		308,444		-		591,799
Investments sold		1,573		-		-		-		1,646		-
Total Assets		918,255		64,480,917		3,359,867		133,142,815		770,281		59,551,640
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		1,590		152		-		-		1,659		-
Investments purchased		-		1,450		331,838		311,126		-		593,596
Total Liabilities		1,590		1,602		331,838		311,126		1,659		593,596
NET ASSETS	$	916,665	$	64,479,315	$	3,028,029	$	132,831,689	$	768,622	$	58,958,044
NET ASSETS CONSIST OF:
Accumulation units		916,665		64,449,555		3,028,029		132,771,612		768,622		58,925,989
Contracts in payout (annuitization) period		-		29,760		-		60,077		-		32,055
NET ASSETS	$	916,665	$	64,479,315	$	3,028,029	$	132,831,689	$	768,622	$	58,958,044
Units Outstanding		121,178		5,239,889		347,156		13,216,178		86,569		6,026,456
Accumulation Unit Value		$7.55 - $7.57		$7.35 - $14.23		$8.70 - $8.72		$8.67 - $10.50		$8.88 - $8.88		$8.84 - $10.52
Cost of Investments	$	1,155,256	$	65,145,395	$	3,317,742	$	154,376,595	$	793,280	$	67,668,344

See Notes to Financial Statements

SA-14

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	American Funds		American Funds		BlackRock		BlackRock		BlackRock		BlackRock
	IS Washington		IS Washington		60/40 Target		Capital		Equity		Global
	Mutual Investors		Mutual Investors		Allocation ETF		Appreciation		Dividend		Allocation
	Class 1		Class 4		V.I. Class I		V.I. Class III		V.I. Class I		V.I. Class I
ASSETS
Investments in mutual funds, at value	$	762,988	$	200,081,703	$	190,452,457	$	31,189,955	$	768,538	$	1,063,393
Receivables:
Due from Pacific Life Insurance Company		-		151,270		1,467		58,298		-		-
Investments sold		286		-		-		-		1,047		1,560
Total Assets		763,274		200,232,973		190,453,924		31,248,253		769,585		1,064,953
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		297		-		-		-		1,057		1,581
Investments purchased		-		156,974		5,136		57,932		-		-
Total Liabilities		297		156,974		5,136		57,932		1,057		1,581
NET ASSETS	$	762,977	$	200,075,999	$	190,448,788	$	31,190,321	$	768,528	$	1,063,372
NET ASSETS CONSIST OF:
Accumulation units		762,977		199,904,160		190,448,788		31,166,343		768,528		1,063,372
Contracts in payout (annuitization) period		-		171,839		-		23,978		-		-
NET ASSETS	$	762,977	$	200,075,999	$	190,448,788	$	31,190,321	$	768,528	$	1,063,372
Units Outstanding		68,968		11,726,592		14,271,032		1,036,425		69,864		123,714
Accumulation Unit Value		$11.03 - $11.07		$9.90 - $18.31		$8.79 - $14.54		$24.73 - $34.17		$10.97 - $11.00		$8.60 - $8.60
Cost of Investments	$	800,042	$	207,282,906	$	202,140,812	$	40,978,108	$	829,861	$	1,113,198

	BlackRock										Delaware Ivy
	Global		BlackRock		BlackRock		BlackRock		BlackRock		VIP Asset
	Allocation		High Yield		S&P 500 Index		Small Cap Index		Total Return		Strategy
	V.I. Class III		V.I. Class I		V.I. Class I		V.I. Class I		V.I. Class I		Class II
ASSETS
Investments in mutual funds, at value	$	1,192,214,218	$	605,635	$	921,553	$	3,506,583	$	1,086,183	$	19,256,046
Receivables:
Due from Pacific Life Insurance Company		-		-		-		24,408		-		-
Investments sold		596,428		427		794		-		469		10,357
Total Assets		1,192,810,646		606,062		922,347		3,530,991		1,086,652		19,266,403
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		587,945		436		808		-		483		10,920
Investments purchased		-		-		-		24,458		-		-
Total Liabilities		587,945		436		808		24,458		483		10,920
NET ASSETS	$	1,192,222,701	$	605,626	$	921,539	$	3,506,533	$	1,086,169	$	19,255,483
NET ASSETS CONSIST OF:
Accumulation units		1,191,701,404		605,626		921,539		3,506,533		1,086,169		19,255,483
Contracts in payout (annuitization) period		521,297		-		-		-		-		-
NET ASSETS	$	1,192,222,701	$	605,626	$	921,539	$	3,506,533	$	1,086,169	$	19,255,483
Units Outstanding		85,813,546		65,450		92,239		451,935		128,322		1,803,794
Accumulation Unit Value		$8.22 - $16.92		$9.23 - $9.26		$9.97 - $10.00		$7.74 - $7.76		$8.44 - $8.47		$8.88 - $14.51
Cost of Investments	$	1,194,932,544	$	622,086	$	984,499	$	3,930,061	$	1,121,227	$	21,121,543

See Notes to Financial Statements

SA-15

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
							DFA VA
			DFA VA		DFA VA		Global Moderate		DFA VA		DFA VA
	Delaware Ivy		Equity Allocation		Global Bond		Allocation		International		International
	VIP Energy		Institutional		Institutional		Institutional		Small		Value
	Class II		Class		Class		Class		Institutional Class		Institutional Class
ASSETS
Investments in mutual funds, at value	$	62,287,580	$	149,928	$	406,428	$	367,834	$	332,816	$	1,366,275
Receivables:
Due from Pacific Life Insurance Company		190,274		-		-		-		-		-
Investments sold		-		194		358		298		426		3,775
Total Assets		62,477,854		150,122		406,786		368,132		333,242		1,370,050
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		197		364		305		431		3,798
Investments purchased		191,041		-		-		-		-		-
Total Liabilities		191,041		197		364		305		431		3,798
NET ASSETS	$	62,286,813	$	149,925	$	406,422	$	367,827	$	332,811	$	1,366,252
NET ASSETS CONSIST OF:
Accumulation units		62,286,813		149,925		406,422		367,827		332,811		1,366,252
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	62,286,813	$	149,925	$	406,422	$	367,827	$	332,811	$	1,366,252
Units Outstanding		8,944,575		15,034		44,252		37,988		37,415		127,002
Accumulation Unit Value		$6.52 - $11.77		$9.96 - $9.99		$9.16 - $9.19		$9.66 - $9.69		$8.88 - $8.90		$10.74 - $10.77
Cost of Investments	$	31,405,863	$	180,305	$	433,262	$	401,084	$	387,016	$	1,439,936

							Fidelity VIP
	DFA VA		DFA VA		DFA VA US		Consumer		Fidelity VIP		Fidelity VIP
	Short-Term Fixed		US Large Value		Targeted Value		Discretionary		Contrafund		Contrafund
	Institutional Class		Institutional Class		Institutional Class		Initial Class		Initial Class		Service Class 2
ASSETS
Investments in mutual funds, at value	$	2,416,441	$	2,835,346	$	946,259	$	3,776	$	372,599	$	275,969,504
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		57		81,070
Investments sold		506		4,620		1,982		-		-		-
Total Assets		2,416,947		2,839,966		948,241		3,776		372,656		276,050,574
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		540		4,667		1,998		-		-		-
Investments purchased		-		-		-		-		65		83,604
Total Liabilities		540		4,667		1,998		-		65		83,604
NET ASSETS	$	2,416,407	$	2,835,299	$	946,243	$	3,776	$	372,591	$	275,966,970
NET ASSETS CONSIST OF:
Accumulation units		2,416,407		2,835,299		946,243		3,776		372,591		275,915,187
Contracts in payout (annuitization) period		-		-		-		-		-		51,783
NET ASSETS	$	2,416,407	$	2,835,299	$	946,243	$	3,776	$	372,591	$	275,966,970
Units Outstanding		247,160		251,430		82,020		520		41,710		11,942,263
Accumulation Unit Value		$9.75 - $9.78		$11.25 - $11.28		$11.51 - $11.55		$7.26 - $7.26		$8.92 - $8.95		$8.47 - $26.93
Cost of Investments	$	2,440,999	$	2,880,199	$	1,038,958	$	3,733	$	453,711	$	249,951,451

See Notes to Financial Statements

SA-16

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
					Fidelity VIP						Fidelity VIP
	Fidelity VIP		Fidelity		Extended		Fidelity VIP		Fidelity VIP		Government
	Emerging Markets		VIP Energy		Market Index		Funds Manager 60%		Funds Manager 60%		Money Market
	Initial Class		Initial Class		Initial Class		Investor Class		Service Class 2		Initial Class
ASSETS
Investments in mutual funds, at value	$	571,802	$	721,447	$	1,380,120	$	5,266,237	$	372,172,439	$	15,847,110
Receivables:
Due from Pacific Life Insurance Company		-		-		-		532,688		136,910		-
Investments sold		835		1,145		983		-		-		16,974
Total Assets		572,637		722,592		1,381,103		5,798,925		372,309,349		15,864,084
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		846		1,158		1,002		-		-		17,307
Investments purchased		-		-		-		532,908		135,477		-
Total Liabilities		846		1,158		1,002		532,908		135,477		17,307
NET ASSETS	$	571,791	$	721,434	$	1,380,101	$	5,266,017	$	372,173,872	$	15,846,777
NET ASSETS CONSIST OF:
Accumulation units		571,791		721,434		1,380,101		5,266,017		372,067,770		15,846,777
Contracts in payout (annuitization) period		-		-		-		-		106,102		-
NET ASSETS	$	571,791	$	721,434	$	1,380,101	$	5,266,017	$	372,173,872	$	15,846,777
Units Outstanding		81,945		32,901		158,402		538,685		25,259,177		1,576,714
Accumulation Unit Value		$6.96 - $6.98		$21.89 - $21.95		$8.70 - $8.72		$9.78 - $9.78		$8.73 - $18.53		$10.03 - $10.06
Cost of Investments	$	595,251	$	594,214	$	1,618,825	$	5,356,368	$	435,900,865	$	15,847,110

	Fidelity VIP		Fidelity VIP				Fidelity VIP
	Government		Growth		Fidelity VIP		Investment		Fidelity VIP		Fidelity VIP
	Money Market		Opportunities		Index 500		Grade Bond		Strategic Income		Value Strategies
	Service Class		Initial Class		Initial Class		Initial Class		Service Class 2		Initial Class
ASSETS
Investments in mutual funds, at value	$	502,230,425	$	349,503	$	2,993,109	$	1,250,664	$	81,032,912	$	607,118
Receivables:
Due from Pacific Life Insurance Company		-		-		-		176,938		-		-
Investments sold		46,168		777		2,576		-		39,771		519
Total Assets		502,276,593		350,280		2,995,685		1,427,602		81,072,683		607,637
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		50,653		782		2,644		-		41,745		539
Investments purchased		-		-		-		176,958		-		-
Total Liabilities		50,653		782		2,644		176,958		41,745		539
NET ASSETS	$	502,225,940	$	349,498	$	2,993,041	$	1,250,644	$	81,030,938	$	607,098
NET ASSETS CONSIST OF:
Accumulation units		501,848,415		349,498		2,993,041		1,250,644		81,030,938		607,098
Contracts in payout (annuitization) period		377,525		-		-		-		-		-
NET ASSETS	$	502,225,940	$	349,498	$	2,993,041	$	1,250,644	$	81,030,938	$	607,098
Units Outstanding		52,653,369		56,819		299,731		144,963		7,296,355		54,117
Accumulation Unit Value		$8.91 - $10.39		$6.14 - $6.16		$9.97 - $10.00		$8.60 - $8.63		$8.89 - $11.97		$11.20 - $11.24
Cost of Investments	$	502,230,425	$	401,523	$	3,109,842	$	1,326,997	$	90,165,604	$	660,001

See Notes to Financial Statements

SA-17

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	First Trust		First Trust		First Trust/Dow
	Dorsey Wright		Multi Income		Jones Dividend &		Franklin		Franklin		Franklin
	Tactical Core		Allocation		Income Allocation		Allocation		Allocation		Income
	Class I		Class I		Class I		VIP Class 2		VIP Class 4		VIP Class 1
ASSETS
Investments in mutual funds, at value	$	33,444,620	$	17,795,470	$	593,648,079	$	21,458,509	$	219,457,446	$	241,997
Receivables:
Due from Pacific Life Insurance Company		296		-		-		-		324,946		-
Investments sold		-		446		284,498		61,821		-		513
Total Assets		33,444,916		17,795,916		593,932,577		21,520,330		219,782,392		242,510
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		1,208		283,699		62,259		-		517
Investments purchased		804		-		-		-		321,460		-
Total Liabilities		804		1,208		283,699		62,259		321,460		517
NET ASSETS	$	33,444,112	$	17,794,708	$	593,648,878	$	21,458,071	$	219,460,932	$	241,993
NET ASSETS CONSIST OF:
Accumulation units		33,444,112		17,779,846		593,454,791		21,450,849		219,400,060		241,993
Contracts in payout (annuitization) period		-		14,862		194,087		7,222		60,872		-
NET ASSETS	$	33,444,112	$	17,794,708	$	593,648,878	$	21,458,071	$	219,460,932	$	241,993
Units Outstanding		2,657,693		1,434,676		37,836,927		1,187,062		15,596,987		22,536
Accumulation Unit Value		$9.77 - $13.72		$10.12 - $13.46		$9.05 - $19.21		$16.13 - $19.22		$8.73 - $17.33		$10.71 - $10.74
Cost of Investments	$	34,030,435	$	16,723,147	$	572,177,896	$	27,545,280	$	252,309,776	$	254,252

			Franklin				Franklin		Franklin		Franklin
	Franklin		Mutual Global		Franklin		Rising		Rising		Small Cap
	Income		Discovery		Mutual Shares		Dividends		Dividends		Value
	VIP Class 2		VIP Class 2		VIP Class 1		VIP Class 1		VIP Class 2		VIP Class 1
ASSETS
Investments in mutual funds, at value	$	60,620,929	$	150,267,145	$	54,126	$	854,382	$	221,583,077	$	133,632
Receivables:
Due from Pacific Life Insurance Company		3,098		-		-		57,794		-		-
Investments sold		-		411,747		136		-		37,276		81
Total Assets		60,624,027		150,678,892		54,262		912,176		221,620,353		133,713
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		410,073		138		-		35,714		83
Investments purchased		5,193		-		-		57,823		-		-
Total Liabilities		5,193		410,073		138		57,823		35,714		83
NET ASSETS	$	60,618,834	$	150,268,819	$	54,124	$	854,353	$	221,584,639	$	133,630
NET ASSETS CONSIST OF:
Accumulation units		60,618,834		150,226,323		54,124		854,353		221,386,644		133,630
Contracts in payout (annuitization) period		-		42,496		-		-		197,995		-
NET ASSETS	$	60,618,834	$	150,268,819	$	54,124	$	854,353	$	221,584,639	$	133,630
Units Outstanding		4,782,643		8,376,154		5,119		76,816		9,023,367		13,128
Accumulation Unit Value		$10.18 - $13.66		$10.54 - $21.57		$10.57 - $10.57		$11.10 - $11.14		$10.05 - $28.83		$10.18 - $10.18
Cost of Investments	$	60,080,528	$	153,112,890	$	61,463	$	876,713	$	200,140,831	$	145,280

See Notes to Financial Statements

SA-18

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
											Goldman Sachs
	Franklin		Franklin								VIT Large Cap
	Small-Mid		Strategic		Templeton		Templeton		Templeton		Value
	Cap Growth		Income		Foreign		Global Bond		Global Bond		Institutional
	VIP Class 1		VIP Class 1		VIP Class 1		VIP Class 1		VIP Class 2		Shares
ASSETS
Investments in mutual funds, at value	$	368,695	$	305,052	$	28,042	$	106,734	$	58,866,895	$	58,410
Receivables:
Due from Pacific Life Insurance Company		-		118,106		-		-		-		-
Investments sold		453		-		35		110		45,889		158
Total Assets		369,148		423,158		28,077		106,844		58,912,784		58,568
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		458		-		35		112		46,480		159
Investments purchased		-		118,110		-		-		-		-
Total Liabilities		458		118,110		35		112		46,480		159
NET ASSETS	$	368,690	$	305,048	$	28,042	$	106,732	$	58,866,304	$	58,409
NET ASSETS CONSIST OF:
Accumulation units		368,690		305,048		28,042		106,732		58,720,337		58,409
Contracts in payout (annuitization) period		-		-		-		-		145,967		-
NET ASSETS	$	368,690	$	305,048	$	28,042	$	106,732	$	58,866,304	$	58,409
Units Outstanding		55,186		33,823		3,088		11,819		7,088,492		5,265
Accumulation Unit Value		$6.68 - $6.68		$9.00 - $9.02		$9.08 - $9.08		$9.01 - $9.04		$7.52 - $10.60		$11.09 - $11.12
Cost of Investments	$	448,224	$	323,886	$	32,512	$	110,701	$	69,027,714	$	62,537

	Goldman Sachs		Goldman Sachs		Goldman Sachs		Janus		Janus		Janus
	VIT Mid Cap		VIT Strategic		VIT Trends		Henderson		Henderson		Henderson
	Value		Growth		Driven Allocation		Balanced		Balanced		Enterprise
	Institutional		Institutional		Institutional		Institutional		Service		Institutional
	Shares		Shares		Shares		Shares		Shares		Shares
ASSETS
Investments in mutual funds, at value	$	194,315	$	104,214	$	235,797	$	2,309,509	$	5,038,943,907	$	599,718
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		1,885,138		-
Investments sold		202		262		597		4,952		-		297
Total Assets		194,517		104,476		236,394		2,314,461		5,040,829,045		600,015
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		206		266		614		4,989		-		308
Investments purchased		-		-		-		-		1,880,466		-
Total Liabilities		206		266		614		4,989		1,880,466		308
NET ASSETS	$	194,311	$	104,210	$	235,780	$	2,309,472	$	5,038,948,579	$	599,707
NET ASSETS CONSIST OF:
Accumulation units		194,311		104,210		235,780		2,309,472		5,038,337,177		599,707
Contracts in payout (annuitization) period		-		-		-		-		611,402		-
NET ASSETS	$	194,311	$	104,210	$	235,780	$	2,309,472	$	5,038,948,579	$	599,707
Units Outstanding		17,620		13,477		26,381		241,281		308,691,102		64,087
Accumulation Unit Value		$11.03 - $11.03		$7.73 - $7.73		$8.94 - $8.94		$9.57 - $9.57		$9.08 - $20.78		$9.35 - $9.38
Cost of Investments	$	248,670	$	132,190	$	276,756	$	2,561,621	$	4,497,816,770	$	588,991

See Notes to Financial Statements

SA-19

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Janus		JPMorgan		JPMorgan		JPMorgan		JPMorgan		JPMorgan
	Henderson		Insurance Trust		Insurance Trust		Insurance Trust		Insurance Trust		Insurance Trust
	Flexible Bond		Core Bond		Global Allocation		Income Builder		Mid Cap Value		U.S. Equity
	Service Shares		Class 1		Class 2		Class 2		Class 1		Class 1
ASSETS
Investments in mutual funds, at value	$	29,945,595	$	172,900	$	10,664,771	$	11,513,013	$	540,126	$	13,376
Receivables:
Due from Pacific Life Insurance Company		364,502		-		-		-		-		-
Investments sold		-		18		44,741		8,849		68		1
Total Assets		30,310,097		172,918		10,709,512		11,521,862		540,194		13,377
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		45,285		9,473		73		2
Investments purchased		365,624		-		-		-		-		-
Total Liabilities		365,624		-		45,285		9,473		73		2
NET ASSETS	$	29,944,473	$	172,918	$	10,664,227	$	11,512,389	$	540,121	$	13,375
NET ASSETS CONSIST OF:
Accumulation units		29,935,330		172,871		10,664,227		11,512,389		540,121		13,375
Contracts in payout (annuitization) period		9,143		47		-		-		-		-
NET ASSETS	$	29,944,473	$	172,918	$	10,664,227	$	11,512,389	$	540,121	$	13,375
Units Outstanding		3,071,967		12,696		876,062		1,020,221		41,765		311
Accumulation Unit Value		$9.15 - $10.51		$8.62 - $14.02		$10.01 - $13.22		$10.02 - $12.11		$11.09 - $35.91		$43.07 - $43.07
Cost of Investments	$	34,180,585	$	183,337	$	10,641,807	$	11,844,266	$	505,266	$	4,847

											MFS
	ClearBridge				Lord Abbett				MFS		Massachusetts
	Variable		Western Asset		Bond		Lord Abbett		International		Investors
	Aggressive		Core Plus		Debenture		Total Return		Growth -		Growth Stock -
	Growth - Class II		VIT Class I		Class VC		Class VC		Initial Class		Service Class
ASSETS
Investments in mutual funds, at value	$	11,230,759	$	1,394,731	$	136,206,541	$	236,571,455	$	795,872	$	66,825,180
Receivables:
Due from Pacific Life Insurance Company		1,291		118,040		75,536		504,465		-		-
Investments sold		-		-		-		-		2,260		57,447
Total Assets		11,232,050		1,512,771		136,282,077		237,075,920		798,132		66,882,627
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		-		-		-		2,275		56,100
Investments purchased		1,728		118,063		77,184		504,853		-		-
Total Liabilities		1,728		118,063		77,184		504,853		2,275		56,100
NET ASSETS	$	11,230,322	$	1,394,708	$	136,204,893	$	236,571,067	$	795,857	$	66,826,527
NET ASSETS CONSIST OF:
Accumulation units		11,230,322		1,394,708		136,155,099		236,455,795		795,857		66,779,899
Contracts in payout (annuitization) period		-		-		49,794		115,272		-		46,628
NET ASSETS	$	11,230,322	$	1,394,708	$	136,204,893	$	236,571,067	$	795,857	$	66,826,527
Units Outstanding		969,943		171,475		10,968,206		21,830,030		89,358		3,071,316
Accumulation Unit Value		$9.65 - $12.45		$8.11 - $8.14		$8.66 - $13.69		$9.17 - $12.26		$8.89 - $8.92		$20.61 - $21.85
Cost of Investments	$	17,109,244	$	1,587,736	$	157,473,217	$	277,132,202	$	894,428	$	61,691,020

See Notes to Financial Statements

SA-20

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	MFS		MFS		MFS		MFS		MFS		MFS
	New Discovery		Total Return		Utilities		Utilities		Value		Value
	Series -		Series -		Series -		Series -		Series -		Series -
	Initial Class		Service Class		Initial Class		Service Class		Initial Class		Service Class
ASSETS
Investments in mutual funds, at value	$	535,332	$	427,545,258	$	169,209	$	68,766,693	$	123,947	$	76,442,410
Receivables:
Due from Pacific Life Insurance Company		-		-		-		36,193		-		-
Investments sold		591		75,648		279		-		90		178,980
Total Assets		535,923		427,620,906		169,488		68,802,886		124,037		76,621,390
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		601		77,344		281		-		92		177,654
Investments purchased		-		-		-		36,741		-		-
Total Liabilities		601		77,344		281		36,741		92		177,654
NET ASSETS	$	535,322	$	427,543,562	$	169,207	$	68,766,145	$	123,945	$	76,443,736
NET ASSETS CONSIST OF:
Accumulation units		535,322		427,347,589		169,207		68,760,997		123,945		76,438,795
Contracts in payout (annuitization) period		-		195,973		-		5,148		-		4,941
NET ASSETS	$	535,322	$	427,543,562	$	169,207	$	68,766,145	$	123,945	$	76,443,736
Units Outstanding		83,316		26,167,176		14,917		3,834,938		10,879		2,587,909
Accumulation Unit Value		$6.42 - $6.44		$9.22 - $20.10		$11.33 - $11.37		$10.42 - $21.06		$11.36 - $11.40		$26.55 - $33.97
Cost of Investments	$	895,229	$	423,906,023	$	169,955	$	55,056,848	$	136,809	$	56,901,351

	Neuberger Berman
	U.S. Equity Index		TOPS								TOPS
	PutWrite Strategy		Aggressive Growth		TOPS Balanced		TOPS Conservative		TOPS Growth		Managed Risk Growth
	Class S		ETF Class 1		ETF Class 1		ETF Class 1		ETF Class 1		ETF Class 1
ASSETS
Investments in mutual funds, at value	$	3,807,812	$	4,222	$	199,061	$	316,110	$	172,316	$	8,594
Receivables:
Due from Pacific Life Insurance Company		1,305		-		-		-		-		-
Investments sold		-		4		237		87		144		7
Total Assets		3,809,117		4,226		199,298		316,197		172,460		8,601
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		-		4		239		100		139		7
Investments purchased		1,459		-		-		-		-		-
Total Liabilities		1,459		4		239		100		139		7
NET ASSETS	$	3,807,658	$	4,222	$	199,059	$	316,097	$	172,321	$	8,594
NET ASSETS CONSIST OF:
Accumulation units		3,807,658		4,222		199,059		316,097		172,321		8,594
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	3,807,658	$	4,222	$	199,059	$	316,097	$	172,321	$	8,594
Units Outstanding		329,190		452		21,162		33,232		18,405		931
Accumulation Unit Value		$9.94 - $12.78		$9.34 - $9.34		$9.39 - $9.41		$9.51 - $9.51		$9.34 - $9.37		$9.23 - $9.23
Cost of Investments	$	4,355,175	$	4,588	$	214,854	$	322,797	$	181,409	$	13,596

See Notes to Financial Statements

SA-21

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	TOPS				PIMCO Commodity-		PIMCO Emerging				PIMCO Long-Term U.S.
	Moderate		PIMCO All		RealReturn		Markets Bond -		PIMCO		Government -
	Growth ETF Class 1		Asset - Advisor Class		Strategy - Advisor Class		Institutional Class		Income - Advisor Class		Institutional Class
ASSETS
Investments in mutual funds, at value	$	53,329	$	4,469,021	$	31,715,813	$	283,167	$	20,111,583	$	207,223
Receivables:
Due from Pacific Life Insurance Company		-		-		19		-		-		-
Investments sold		46		147		-		435		16,987		333
Total Assets		53,375		4,469,168		31,715,832		283,602		20,128,570		207,556
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		47		345		-		440		17,802		336
Investments purchased		-		-		1,363		-		-		-
Total Liabilities		47		345		1,363		440		17,802		336
NET ASSETS	$	53,328	$	4,468,823	$	31,714,469	$	283,162	$	20,110,768	$	207,220
NET ASSETS CONSIST OF:
Accumulation units		53,328		4,392,929		31,714,469		283,162		20,110,768		207,220
Contracts in payout (annuitization) period		-		75,894		-		-		-		-
NET ASSETS	$	53,328	$	4,468,823	$	31,714,469	$	283,162	$	20,110,768	$	207,220
Units Outstanding		5,675		365,550		3,924,178		34,412		1,966,152		29,262
Accumulation Unit Value		$9.40 - $9.40		$10.01 - $12.53		$6.91 - $14.12		$8.22 - $8.24		$9.14 - $10.46		$7.06 - $7.08
Cost of Investments	$	53,746	$	5,273,840	$	31,781,733	$	322,056	$	21,625,006	$	230,706

	PIMCO		PIMCO		PSF		PSF		PSF PGIM		PSF PGIM
	Low Duration -		Total Return -		International		Mid-Cap		Jennison		Jennison
	Institutional Class		Institutional Class		Growth Class II		Growth Class II		Growth Class II		Value Class II
ASSETS
Investments in mutual funds, at value	$	716,589	$	1,495,439	$	45,434	$	21,312	$	75,093	$	89,053
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		450		987		2		17		26		4
Total Assets		717,039		1,496,426		45,436		21,329		75,119		89,057
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		458		1,011		36		21		60		34
Investments purchased		-		-		-		-		-		-
Total Liabilities		458		1,011		36		21		60		34
NET ASSETS	$	716,581	$	1,495,415	$	45,400	$	21,308	$	75,059	$	89,023
NET ASSETS CONSIST OF:
Accumulation units		716,581		1,495,415		45,400		21,308		75,059		89,023
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	716,581	$	1,495,415	$	45,400	$	21,308	$	75,059	$	89,023
Units Outstanding		77,215		176,640		2,158		502		1,989		3,132
Accumulation Unit Value		$9.25 - $9.28		$8.45 - $8.47		$20.30 - $21.92		$41.72 - $44.95		$36.69 - $38.29		$27.02 - $29.11
Cost of Investments	$	743,145	$	1,530,465	$	16,973	$	5,342	$	10,382	$	25,857

See Notes to Financial Statements

SA-22

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
					Schwab				State Street		T. Rowe Price
	Schwab		Schwab		VIT Balanced		Schwab		Total Return		Blue Chip
	S&P 500 Index		VIT Balanced		with Growth		VIT Growth		V.I.S. Class 3		Growth - I
ASSETS
Investments in mutual funds, at value	$	19,818,905	$	57,334,034	$	125,849,991	$	136,930,148	$	273,066,166	$	882,996
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		58,169
Investments sold		259,825		3,678		15,550		33,882		83,223		-
Total Assets		20,078,730		57,337,712		125,865,541		136,964,030		273,149,389		941,165
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		260,155		3,877		15,807		33,573		79,382		-
Investments purchased		-		-		-		-		-		58,192
Total Liabilities		260,155		3,877		15,807		33,573		79,382		58,192
NET ASSETS	$	19,818,575	$	57,333,835	$	125,849,734	$	136,930,457	$	273,070,007	$	882,973
NET ASSETS CONSIST OF:
Accumulation units		19,818,575		57,333,835		125,849,734		136,930,457		272,800,863		882,973
Contracts in payout (annuitization) period		-		-		-		-		269,144		-
NET ASSETS	$	19,818,575	$	57,333,835	$	125,849,734	$	136,930,457	$	273,070,007	$	882,973
Units Outstanding		1,978,924		4,329,481		8,399,508		8,001,432		17,034,547		129,871
Accumulation Unit Value		$9.99 - $10.02		$11.52 - $13.31		$12.61 - $15.23		$13.59 - $17.29		$9.00 - $22.37		$6.79 - $6.80
Cost of Investments	$	21,573,653	$	51,698,064	$	104,150,482	$	106,379,584	$	306,469,657	$	1,106,899

	T. Rowe Price		T. Rowe Price		VanEck VIP						Vanguard VIF
	Equity		Health		Global Resources		Vanguard VIF		Vanguard VIF		Conservative
	Income - I		Sciences - I		Class S		Balanced		Capital Growth		Allocation
ASSETS
Investments in mutual funds, at value	$	289,975	$	444,847	$	27,806,919	$	10,422,930	$	1,266,897	$	3,295,501
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		303		513		15,772		12,738		1,992		3,143
Total Assets		290,278		445,360		27,822,691		10,435,668		1,268,889		3,298,644
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		309		524		17,013		12,955		2,005		3,195
Investments purchased		-		-		-		-		-		-
Total Liabilities		309		524		17,013		12,955		2,005		3,195
NET ASSETS	$	289,969	$	444,836	$	27,805,678	$	10,422,713	$	1,266,884	$	3,295,449
NET ASSETS CONSIST OF:
Accumulation units		289,969		444,836		27,788,742		10,422,713		1,266,884		3,295,449
Contracts in payout (annuitization) period		-		-		16,936		-		-		-
NET ASSETS	$	289,969	$	444,836	$	27,805,678	$	10,422,713	$	1,266,884	$	3,295,449
Units Outstanding		25,404		48,604		3,035,536		1,051,615		134,526		374,633
Accumulation Unit Value		$11.39 - $11.42		$9.14 - $9.17		$8.08 - $11.39		$9.89 - $9.92		$9.39 - $9.42		$8.77 - $8.80
Cost of Investments	$	322,602	$	488,206	$	18,013,893	$	11,429,082	$	1,404,133	$	3,593,413

See Notes to Financial Statements

SA-23

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Vanguard VIF		Vanguard VIF		Vanguard VIF		Vanguard VIF				Vanguard VIF
	Diversified Value		Equity Income		Equity Index		Global Bond Index		Vanguard VIF Growth		High Yield Bond
ASSETS
Investments in mutual funds, at value	$	1,139,262	$	2,147,062	$	2,084,017	$	953,006	$	1,474,332	$	907,174
Receivables:
Due from Pacific Life Insurance Company		-		-		-		-		-		-
Investments sold		2,199		1,365		1,877		1,336		619		1,048
Total Assets		1,141,461		2,148,427		2,085,894		954,342		1,474,951		908,222
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		2,218		1,400		1,914		1,353		644		1,063
Investments purchased		-		-		-		-		-		-
Total Liabilities		2,218		1,400		1,914		1,353		644		1,063
NET ASSETS	$	1,139,243	$	2,147,027	$	2,083,980	$	952,989	$	1,474,307	$	907,159
NET ASSETS CONSIST OF:
Accumulation units		1,139,243		2,147,027		2,083,980		952,989		1,474,307		907,159
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	1,139,243	$	2,147,027	$	2,083,980	$	952,989	$	1,474,307	$	907,159
Units Outstanding		105,601		180,021		208,502		111,871		199,651		98,151
Accumulation Unit Value		$10.77 - $10.81		$11.91 - $11.95		$10.00 - $10.00		$8.51 - $8.54		$7.37 - $7.39		$9.22 - $9.25
Cost of Investments	$	1,282,255	$	2,047,628	$	2,459,393	$	1,110,217	$	1,826,722	$	969,516

									Vanguard VIF
									Short-Term		Vanguard VIF
	Vanguard VIF		Vanguard VIF		Vanguard VIF		Vanguard VIF		Investment-		Total Bond
	International		Mid-Cap Index		Moderate Allocation		Real Estate Index		Grade		Market Index
ASSETS
Investments in mutual funds, at value	$	429,112	$	3,398,383	$	13,681,809	$	1,313,050	$	4,020,588	$	7,602,958
Receivables:
Due from Pacific Life Insurance Company		-		41,120		-		29,800		-		-
Investments sold		600		-		18,707		-		3,563		261,760
Total Assets		429,712		3,439,503		13,700,516		1,342,850		4,024,151		7,864,718
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		605		-		19,011		-		3,635		261,860
Investments purchased		-		41,175		-		29,827		-		-
Total Liabilities		605		41,175		19,011		29,827		3,635		261,860
NET ASSETS	$	429,107	$	3,398,328	$	13,681,505	$	1,313,023	$	4,020,516	$	7,602,858
NET ASSETS CONSIST OF:
Accumulation units		429,107		3,398,328		13,681,505		1,313,023		4,020,516		7,602,858
Contracts in payout (annuitization) period		-		-		-		-		-		-
NET ASSETS	$	429,107	$	3,398,328	$	13,681,505	$	1,313,023	$	4,020,516	$	7,602,858
Units Outstanding		69,731		361,211		1,535,831		134,155		432,776		890,474
Accumulation Unit Value		$6.14 - $6.16		$9.38 - $9.41		$8.89 - $8.91		$9.76 - $9.79		$9.27 - $9.30		$8.52 - $8.54
Cost of Investments	$	440,554	$	3,778,719	$	15,212,712	$	1,658,898	$	4,139,127	$	8,368,256

See Notes to Financial Statements

SA-24

SEPARATE ACCOUNT A

STATEMENTS OF ASSETS AND LIABILITIES (Continued)

DECEMBER 31, 2022

	Variable Accounts
	Vanguard VIF
	Total
	International		Vanguard VIF
	Stock Market		Total Stock
	Index		Market Index
ASSETS
Investments in mutual funds, at value	$	7,181,400	$	7,229,076
Receivables:
Due from Pacific Life Insurance Company		-		113,823
Investments sold		76,210		-
Total Assets		7,257,610		7,342,899
LIABILITIES
Payables:
Due to Pacific Life Insurance Company		76,337		-
Investments purchased		-		113,932
Total Liabilities		76,337		113,932
NET ASSETS	$	7,181,273	$	7,228,967
NET ASSETS CONSIST OF:
Accumulation units		7,181,273		7,228,967
Contracts in payout (annuitization) period		-		-
NET ASSETS	$	7,181,273	$	7,228,967
Units Outstanding		836,490		764,373
Accumulation Unit Value		$8.56 - $8.59		$9.43 - $9.46
Cost of Investments	$	7,993,735	$	8,203,383

See Notes to Financial Statements

SA-25

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

	Variable Accounts
	Core			Diversified			Floating			Floating			High Yield			Inflation
	Income			Bond			Rate Income			Rate Income			Bond			Managed
	Class I			Class I			Class I			Class P			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		326,716			1,890,859			1,709,791			2,232			1,588,847			2,171,761
Administrative fees		75,758			409,617			349,729			3,289			282,298			366,533
Total Expenses		402,474			2,300,476			2,059,520			5,521			1,871,145			2,538,294
Net Investment Income (Loss)		(402,474	)		(2,300,476	)		(2,059,520	)		(5,521	)		(1,871,145	)		(2,538,294	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(532,190	)		(5,005,758	)		(736,909	)		(6,847	)		11,604,730			(1,375,154	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		(532,190	)		(5,005,758	)		(736,909	)		(6,847	)		11,604,730			(1,375,154	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(4,494,953	)		(38,905,212	)		(2,008,250	)		(5,018	)		(28,715,987	)		(23,198,842	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(5,429,617	)	$	(46,211,446	)	$	(4,804,679	)	$	(17,386	)	$	(18,982,402	)	$	(27,112,290	)

	Intermediate			Managed			Short Duration			Emerging			Dividend			Equity
	Bond			Bond			Bond			Markets Debt			Growth			Index
	Class I			Class I			Class I			Class I			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		29,995			3,584,961			2,757,537			136,639			4,071,256			13,351,706
Administrative fees		7,151			621,321			606,212			28,739			828,207			2,958,464
Total Expenses		37,146			4,206,282			3,363,749			165,378			4,899,463			16,310,170
Net Investment Income (Loss)		(37,146	)		(4,206,282	)		(3,363,749	)		(165,378	)		(4,899,463	)		(16,310,170	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(59,767	)		9,538,846			(944,004	)		143,218			10,444,131			(5,628,567	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		(59,767	)		9,538,846			(944,004	)		143,218			10,444,131			(5,628,567	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(309,874	)		(61,940,554	)		(15,292,588	)		(1,690,517	)		(61,173,849	)		(292,077,983	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(406,787	)	$	(56,607,990	)	$	(19,600,341	)	$	(1,712,677	)	$	(55,629,181	)	$	(314,016,720	)

	Focused						Hedged			Hedged			Large-Cap			Large-Cap
	Growth			Growth			Equity			Equity			Core			Growth
	Class I			Class I			Class I			Class P			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		2,067,301			3,672,977			771,864			775			3,056,179			2,495,091
Administrative fees		395,956			616,893			181,536			1,550			452,506			486,238
Total Expenses		2,463,257			4,289,870			953,400			2,325			3,508,685			2,981,329
Net Investment Income (Loss)		(2,463,257	)		(4,289,870	)		(953,400	)		(2,325	)		(3,508,685	)		(2,981,329	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		5,710,646			13,572,389			(1,211,273	)		(2,514	)		20,910,663			8,606,304
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		5,710,646			13,572,389			(1,211,273	)		(2,514	)		20,910,663			8,606,304
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(93,523,205	)		(154,688,523	)		(2,765,995	)		(8,811	)		(83,810,553	)		(131,126,463	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(90,275,816	)	$	(145,406,004	)	$	(4,930,668	)	$	(13,650	)	$	(66,408,575	)	$	(125,501,488	)

See Notes to Financial Statements

SA-26

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2022

	Variable Accounts
	Large-Cap			Mid-Cap			Mid-Cap			Mid-Cap			Small-Cap			Small-Cap
	Value			Equity			Growth			Value			Equity			Growth
	Class I			Class I			Class I			Class I			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		2,647,981			2,614,136			2,825,893			1,064,581			625,732			1,184,012
Administrative fees		470,954			447,555			537,327			217,291			129,608			224,633
Total Expenses		3,118,935			3,061,691			3,363,220			1,281,872			755,340			1,408,645
Net Investment Income (Loss)		(3,118,935	)		(3,061,691	)		(3,363,220	)		(1,281,872	)		(755,340	)		(1,408,645	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(810,820	)		4,594,998			5,662,697			(127,452	)		1,206,139			(1,972,493	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		(810,820	)		4,594,998			5,662,697			(127,452	)		1,206,139			(1,972,493	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(16,499,662	)		(50,140,731	)		(119,065,705	)		(8,843,335	)		(10,400,174	)		(44,741,138	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(20,429,417	)	$	(48,607,424	)	$	(116,766,228	)	$	(10,252,659	)	$	(9,949,375	)	$	(48,122,276	)

	Small-Cap			Small-Cap						Value			Emerging			International
	Index			Value			Value			Advantage			Markets			Growth
	Class I			Class I			Class I			Class I			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		2,566,376			1,286,724			1,563,834			798,049			1,586,024			5,908
Administrative fees		500,452			240,261			304,927			177,779			297,184			1,744
Total Expenses		3,066,828			1,526,985			1,868,761			975,828			1,883,208			7,652
Net Investment Income (Loss)		(3,066,828	)		(1,526,985	)		(1,868,761	)		(975,828	)		(1,883,208	)		(7,652	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		5,530,358			6,532,013			7,614,061			(1,058,747	)		(1,522,859	)		(47,241	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		5,530,358			6,532,013			7,614,061			(1,058,747	)		(1,522,859	)		(47,241	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(67,238,281	)		(29,747,506	)		(8,773,661	)		(3,074,733	)		(45,651,155	)		(51,671	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(64,774,751	)	$	(24,742,478	)	$	(3,028,361	)	$	(5,109,308	)	$	(49,057,222	)	$	(106,564	)

	International			International			International			Health			Real
	Large-Cap			Small-Cap			Value			Sciences			Estate			Technology
	Class I			Class I			Class I			Class I			Class I			Class I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		2,425,235			385,180			1,238,554			3,352,052			1,455,008			1,865,551
Administrative fees		455,311			76,199			214,566			619,213			247,788			369,946
Total Expenses		2,880,546			461,379			1,453,120			3,971,265			1,702,796			2,235,497
Net Investment Income (Loss)		(2,880,546	)		(461,379	)		(1,453,120	)		(3,971,265	)		(1,702,796	)		(2,235,497	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		6,639,173			1,056,269			2,960,080			27,529,852			13,677,917			(513,101	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		6,639,173			1,056,269			2,960,080			27,529,852			13,677,917			(513,101	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(51,327,327	)		(8,366,212	)		(4,674,764	)		(48,919,674	)		(52,661,964	)		(83,086,408	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(47,568,700	)	$	(7,771,322	)	$	(3,167,804	)	$	(25,361,087	)	$	(40,686,843	)	$	(85,835,006	)

See Notes to Financial Statements

SA-27

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
							ESG			ESG			PSF Avantis			PSF Avantis
	ESG			ESG			Diversified			Diversified			Balanced			Balanced
	Diversified			Diversified			Growth			Growth			Allocation			Allocation
	Class I			Class P (1)			Class I			Class P (1)			Class D			Class P
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		64,201			42			3,917			6			3,088,495			2,385
Administrative fees		15,692			84			1,064			11			750,217			4,770
Total Expenses		79,893			126			4,981			17			3,838,712			7,155
Net Investment Income (Loss)		(79,893	)		(126	)		(4,981	)		(17	)		(3,838,712	)		(7,155	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(98,848	)		(5	)		(24,785	)		-			(3,303,567	)		(22,981	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		(98,848	)		(5	)		(24,785	)		-			(3,303,567	)		(22,981	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(993,570	)		(9,447	)		(56,417	)		808			(50,928,415	)		(204,579	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(1,172,311	)	$	(9,578	)	$	(86,183	)	$	(791		$	(58,070,694	)	$	(234,715	)

	Pacific			Pacific			Pacific			Pacific
	Dynamix -			Dynamix -			Dynamix -			Dynamix -			Pacific			Pacific
	Conservative			Conservative			Moderate			Moderate			Dynamix -			Dynamix -
	Growth			Growth			Growth			Growth			Growth			Growth
	Class I			Class P			Class I			Class P			Class I			Class P
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		4,965,197			2,694			22,974,595			1,002			14,846,015			1,024
Administrative fees		1,022,805			3,512			5,001,309			1,205			3,382,919			2,049
Total Expenses		5,988,002			6,206			27,975,904			2,207			18,228,934			3,073
Net Investment Income (Loss)		(5,988,002	)		(6,206	)		(27,975,904	)		(2,207	)		(18,228,934	)		(3,073	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		10,542,197			(3,655	)		44,832,529			(1,630	)		(14,230,106	)		(11,955	)
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		10,542,197			(3,655	)		44,832,529			(1,630	)		(14,230,106	)		(11,955	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(92,617,207	)		(149,716	)		(463,969,066	)		(38,396	)		(263,383,583	)		(100,103	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(88,063,012	)	$	(159,577	)	$	(447,112,441	)	$	(42,233	)	$	(295,842,623	)	$	(115,131	)

				Portfolio									Portfolio			Invesco
	Portfolio			Optimization			Portfolio			Portfolio			Optimization			Oppenheimer
	Optimization			Moderate-			Optimization			Optimization			Aggressive-			V.I. International
	Conservative			Conservative			Moderate			Growth			Growth			Growth
	Class I			Class I			Class I			Class I			Class I			Series I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		14,287,689			20,327,333			88,924,687			83,420,718			18,043,332			22
Administrative fees		2,302,306			3,171,346			13,740,985			12,487,724			2,690,797			44
Total Expenses		16,589,995			23,498,679			102,665,672			95,908,442			20,734,129			66
Net Investment Income (Loss)		(16,589,995	)		(23,498,679	)		(102,665,672	)		(95,908,442	)		(20,734,129	)		(66	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		34,480,155			89,872,600			419,332,885			374,489,694			77,918,796			(83	)
Capital gain distributions		-			-			-			-			-			2,751
Realized Gain (Loss) on Investments		34,480,155			89,872,600			419,332,885			374,489,694			77,918,796			2,668
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(215,921,424	)		(379,222,664	)		(1,735,145,502	)		(1,654,108,352	)		(365,153,425	)		(7,921	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(198,031,264	)	$	(312,848,743	)	$	(1,418,478,289	)	$	(1,375,527,100	)	$	(307,968,758	)	$	(5,319	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-28

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
	Invesco			Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.
	Oppenheimer			American			Balanced-Risk			Balanced-Risk			Discovery			Equity and
	V.I. International			Value			Allocation			Allocation			Mid Cap Growth			Income
	Growth Series II			Series I (1)			Series I			Series II			Series I			Series II
INVESTMENT INCOME
Dividends	$	-		$	318		$	9,626		$	23,700,284		$	-		$	816,500
EXPENSES
Mortality and expense risk		159,847			65			89			3,549,764			102			487,053
Administrative fees		38,154			65			178			668,317			134			109,740
Total Expenses		198,001			130			267			4,218,081			236			596,793
Net Investment Income (Loss)		(198,001	)		188			9,359			19,482,203			(236	)		219,707
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(1,139,811	)		(50	)		(260	)		(4,710,749	)		(1,916	)		(507,037	)
Capital gain distributions		3,180,157			7,763			4,485			11,466,372			21,504			7,534,183
Realized Gain (Loss) on Investments		2,040,346			7,713			4,225			6,755,623			19,588			7,027,146
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(8,346,199	)		(4,454	)		(23,242	)		(79,689,589	)		(36,364	)		(12,715,463	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(6,503,854	)	$	3,447		$	(9,658	)	$	(53,451,763	)	$	(17,012	)	$	(5,468,610	)

	Invesco V.I.												Invesco V.I.			Invesco V.I.
	EQV			Invesco V.I.						Invesco V.I.			Nasdaq 100			Nasdaq 100
	International			Global			Invesco V.I.			Main Street			Buffer -			Buffer -
	Equity			Real Estate			Global			Small Cap Fund			September			September
	Series I (2)			Series II			Series II			Series I			Series I (1)			Series II
INVESTMENT INCOME
Dividends	$	-		$	229,008		$	-		$	2,052		$	-		$	-
EXPENSES
Mortality and expense risk		10			83,814			198,592			372			106			12,985
Administrative fees		20			19,542			45,478			555			213			3,457
Total Expenses		30			103,356			244,070			927			319			16,442
Net Investment Income (Loss)		(30	)		125,652			(244,070	)		1,125			(319	)		(16,442	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(6,796	)		(277,466	)		(954,649	)		(13,479	)		(190	)		(135,759	)
Capital gain distributions		-			-			3,507,849			44,531			-			-
Realized Gain (Loss) on Investments		(6,796	)		(277,466	)		2,553,200			31,052			(190	)		(135,759	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		-			(2,555,718	)		(11,171,692	)		(36,913	)		(12,393	)		(122,816	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(6,826	)	$	(2,707,532	)	$	(8,862,562	)	$	(4,736	)	$	(12,902	)	$	(275,017	)

	Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.
	Nasdaq 100			Nasdaq 100			Nasdaq 100			Nasdaq 100			Nasdaq 100			S&P 500
	Buffer -			Buffer -			Buffer -			Buffer -			Buffer -			Buffer -
	December			December			March			March			June			September
	Series I (1)			Series II (1)			Series I (1)			Series II (1)			Series II (1)			Series I
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		15			21,426			6			7,011			12,620			477
Administrative fees		31			5,485			12			1,836			3,205			955
Total Expenses		46			26,911			18			8,847			15,825			1,432
Net Investment Income (Loss)		(46	)		(26,911	)		(18	)		(8,847	)		(15,825	)		(1,432	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(2	)		(99,077	)		(2	)		(9,771	)		(10,701	)		(1,577	)
Capital gain distributions		-			-			-			-			-			1,578
Realized Gain (Loss) on Investments		(2	)		(99,077	)		(2	)		(9,771	)		(10,701	)		1
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(1,674	)		(469,594	)		(816	)		(110,445	)		(132,527	)		(15,124	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(1,722	)	$	(595,582	)	$	(836	)	$	(129,063	)	$	(159,053	)	$	(16,555	)

(1)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2022 and all units were fully redeemed or transferred prior to December 31, 2022 (See Financial Highlights for commencement date of operations and date of full redemption).

See Notes to Financial Statements

SA-29

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
	Invesco V.I.			Invesco V.I.			Invesco V.I.			Invesco V.I.						American
	S&P 500			S&P 500			S&P 500			S&P 500						Century
	Buffer -			Buffer -			Buffer -			Buffer -			Invesco V.I.			VP Mid Cap
	September			December			March			June			Technology			Value
	Series II			Series II (1)			Series II (1)			Series II (1)			Series I			Class I (1)
INVESTMENT INCOME
Dividends	$	-		$	-		$	-		$	-		$	-		$	919
EXPENSES
Mortality and expense risk		73,538			64,533			63,865			29,470			634			56
Administrative fees		19,439			17,292			16,266			7,535			844			90
Total Expenses		92,977			81,825			80,131			37,005			1,478			146
Net Investment Income (Loss)		(92,977	)		(81,825	)		(80,131	)		(37,005	)		(1,478	)		773
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(523,996	)		(109,693	)		(51,058	)		(12,669	)		(73,141	)		(17	)
Capital gain distributions		54,940			-			-			60,909			162,751			-
Realized Gain (Loss) on Investments		(469,056	)		(109,693	)		(51,058	)		48,240			89,610			(17	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		219,343			(619,863	)		(670,574	)		(32,289	)		(203,839	)		2,424
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(342,690	)	$	(811,381	)	$	(801,763	)	$	(21,054	)	$	(115,707	)	$	3,180

	American			American Funds
	Century			IS American			American Funds			American Funds			American Funds			American Funds
	VP Mid Cap			High-Income			IS Asset			IS Asset			IS Capital			IS Capital
	Value			Trust			Allocation			Allocation			Income Builder			Income Builder
	Class II			Class 4			Class 1			Class 4			Class 1			Class 4
INVESTMENT INCOME
Dividends	$	2,108,641		$	3,268,665		$	56,126		$	58,698,776		$	22,706		$	3,084,983
EXPENSES
Mortality and expense risk		972,889			426,043			4,727			36,671,451			2,022			1,050,500
Administrative fees		213,875			96,232			6,011			7,697,225			2,104			233,098
Total Expenses		1,186,764			522,275			10,738			44,368,676			4,126			1,283,598
Net Investment Income (Loss)		921,877			2,746,390			45,388			14,330,100			18,580			1,801,385
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(1,707,369	)		(1,271,345	)		(58,865	)		(30,406,345	)		(2,860	)		(835,925	)
Capital gain distributions		13,283,244			-			147,066			369,721,764			-			-
Realized Gain (Loss) on Investments		11,575,875			(1,271,345	)		88,201			339,315,419			(2,860	)		(835,925	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(15,598,095	)		(6,671,401	)		(361,580	)		(951,022,705	)		(58,523	)		(11,941,544	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(3,100,343	)	$	(5,196,356	)	$	(227,991	)	$	(597,377,186	)	$	(42,803	)	$	(10,976,084	)

							American Funds			American Funds
	American Funds			American Funds			IS Capital World			IS Capital World			American Funds			American Funds
	IS Capital			IS Capital			Growth and			Growth and			IS Global			IS Global
	World Bond			World Bond			Income			Income			Balanced			Growth
	Class 1 (1)			Class 4			Class 1			Class 4			Class 4			Class 1
INVESTMENT INCOME
Dividends	$	450		$	48,553		$	2,807		$	1,433,056		$	-		$	2,876
EXPENSES
Mortality and expense risk		283			188,045			165			544,330			628,211			613
Administrative fees		323			44,364			211			133,430			150,429			771
Total Expenses		606			232,409			376			677,760			778,640			1,384
Net Investment Income (Loss)		(156	)		(183,856	)		2,431			755,296			(778,640	)		1,492
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(1,967	)		(769,142	)		(457	)		(3,258,559	)		(1,649,311	)		(3,400	)
Capital gain distributions		2,458			381,856			14,659			15,091,915			425,512			25,928
Realized Gain (Loss) on Investments		491			(387,286	)		14,202			11,833,356			(1,223,799	)		22,528
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(14,053	)		(4,409,911	)		(23,192	)		(26,973,865	)		(11,623,225	)		(93,014	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(13,718	)	$	(4,981,053	)	$	(6,559	)	$	(14,385,213	)	$	(13,625,664	)	$	(68,994	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-30

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
				American Funds									American Funds			American Funds
	American Funds			IS Global Small			American Funds			American Funds			IS			IS
	IS Global Growth			Capitalization			IS Growth			IS Growth			Growth-Income			Growth-Income
	Class 4			Class 4			Class 1			Class 4			Class 1			Class 4
INVESTMENT INCOME
Dividends	$	673,865		$	-		$	8,499		$	649,667		$	25,408		$	4,692,664
EXPENSES
Mortality and expense risk		1,313,596			330,092			1,930			6,210,430			2,510			4,347,936
Administrative fees		310,821			77,660			2,889			1,312,838			4,114			885,703
Total Expenses		1,624,417			407,752			4,819			7,523,268			6,624			5,233,639
Net Investment Income (Loss)		(950,552	)		(407,752	)		3,680			(6,873,601	)		18,784			(540,975	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(6,205,352	)		(3,101,068	)		(279,000	)		(20,911,856	)		(23,657	)		(3,983,406	)
Capital gain distributions		16,933,336			13,902,598			125,307			91,581,071			127,294			43,718,297
Realized Gain (Loss) on Investments		10,727,984			10,801,530			(153,693	)		70,669,215			103,637			39,734,891
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(59,296,190	)		(26,092,952	)		(143,492	)		(310,889,074	)		(305,462	)		(130,274,323	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(49,518,758	)	$	(15,699,174	)	$	(293,505	)	$	(247,093,460	)	$	(183,041	)	$	(91,080,407	)

							American Funds			American Funds			American Funds			American Funds
	American Funds			American Funds			IS International			IS International			IS Managed			IS Managed
	IS International			IS International			Growth and Income			Growth and Income			Risk Asset Allocation			Risk Asset Allocation
	Class 1			Class 4			Class 1			Class 4			Class P1 (1)			Class P2
INVESTMENT INCOME
Dividends	$	7,039		$	1,399,201		$	9,009		$	1,464,601		$	2,872		$	3,753,604
EXPENSES
Mortality and expense risk		338			777,688			332			452,859			91			1,728,868
Administrative fees		661			180,765			511			102,743			174			394,456
Total Expenses		999			958,453			843			555,602			265			2,123,324
Net Investment Income (Loss)		6,040			440,748			8,166			908,999			2,607			1,630,280
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(1,513	)		(3,997,513	)		(3,909	)		(4,618,425	)		(606	)		(1,654,600	)
Capital gain distributions		30,791			12,904,158			47,752			24,822,603			145			6,210,544
Realized Gain (Loss) on Investments		29,278			8,906,645			43,843			20,204,178			(461	)		4,555,944
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(55,578	)		(33,391,553	)		(57,737	)		(31,161,349	)		5,595			(35,078,943	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(20,260	)	$	(24,044,160	)	$	(5,728	)	$	(10,048,172	)	$	7,741		$	28,892,719	)

							American Funds			American Funds			American Funds			American Funds
	American Funds IS			American Funds IS			IS The Bond Fund			IS The Bond Fund			IS U.S. Government			IS U.S. Government
	New World Fund			New World Fund			of America			of America			Securities			Securities
	Class 1			Class 4			Class 1			Class 4			Class 1			Class 4
INVESTMENT INCOME
Dividends	$	14,662		$	756,360		$	85,955		$	3,792,690		$	28,564		$	2,172,273
EXPENSES
Mortality and expense risk		1,695			604,232			2,971			1,083,805			343			589,846
Administrative fees		2,462			139,769			5,629			261,279			687			130,053
Total Expenses		4,157			744,001			8,600			1,345,084			1,030			719,899
Net Investment Income (Loss)		10,505			12,359			77,355			2,447,606			27,534			1,452,374
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(43,393	)		(2,966,272	)		(25,475	)		(3,290,675	)		(3,491	)		(4,046,143	)
Capital gain distributions		76,812			6,343,512			25,016			1,605,508			-			-
Realized Gain (Loss) on Investments		33,419			3,377,240			(459	)		(1,685,167	)		(3,491	)		(4,046,143	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(225,958	)		(22,705,148	)		(288,065	)		(21,566,138	)		(24,209	)		(5,860,973	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(182,034	)	$	(19,315,549	)	$	(211,169	)	$	(20,803,699	)	$	(166	)	$	(8,454,742	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-31

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2022

	Variable Accounts
	American Funds			American Funds			BlackRock			BlackRock			BlackRock			BlackRock
	IS Washington			IS Washington			60/40 Target			Capital			Equity			Global
	Mutual Investors			Mutual Investors			Allocation ETF			Appreciation			Dividend			Allocation
	Class 1			Class 4			V.I. Class I			V.I. Class III			V.I. Class I			V.I. Class I
INVESTMENT INCOME
Dividends	$	14,111		$	3,522,168		$	4,103,971		$	-		$	10,631		$	-
EXPENSES
Mortality and expense risk		742			1,706,977			1,625,604			233,480			1,316			854
Administrative fees		1,294			401,130			405,484			51,930			1,695			1,708
Total Expenses		2,036			2,108,107			2,031,088			285,410			3,011			2,562
Net Investment Income (Loss)		12,075			1,414,061			2,072,883			(285,410	)		7,620			(2,562	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(46,605	)		(5,477,261	)		(3,942,701	)		(696,703	)		(55,956	)		(5,195	)
Capital gain distributions		58,775			44,862,415			57,298			1,785,309			84,992			7,370
Realized Gain (Loss) on Investments		12,170			39,385,154			(3,885,403	)		1,088,606			29,036			2,175
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(49,160	)		(61,407,592	)		(29,515,972	)		(18,382,194	)		(27,709	)		(46,485	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(24,915	)	$	(20,608,377	)	$	(31,328,492	)	$	(17,578,998	)	$	8,947		$	(46,872	)

	BlackRock															Delaware Ivy
	Global			BlackRock			BlackRock			BlackRock			BlackRock			VIP Asset
	Allocation			High Yield			S&P 500 Index			Small Cap Index			Total Return			Strategy
	V.I. Class III			V.I. Class I			V.I. Class I			V.I. Class I			V.I. Class I			Class II
INVESTMENT INCOME
Dividends	$	-		$	12,499		$	13,375		$	44,234		$	10,793		$	313,774
EXPENSES
Mortality and expense risk		14,687,010			470			811			3,078			577			175,394
Administrative fees		2,703,589			668			1,414			5,625			1,107			40,049
Total Expenses		17,390,599			1,138			2,225			8,703			1,684			215,443
Net Investment Income (Loss)		(17,390,599	)		11,361			11,150			35,531			9,109			98,331
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(28,418,625	)		(16,933	)		(62,707	)		(41,610	)		(504	)		(667,849	)
Capital gain distributions		20,321,821			-			37,963			51,657			54			1,464,019
Realized Gain (Loss) on Investments		(8,096,804	)		(16,933	)		(24,744	)		10,047			(450	)		796,170
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(241,657,776	)		(15,840	)		(63,825	)		(383,874	)		(35,014	)		(3,875,035	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(267,145,179	)	$	(21,412	)	$	(77,419	)	$	(338,296	)	$	(26,355	)	$	(2,980,534	)

										DFA VA			DFA VA			DFA VA
				DFA VA			DFA VA			Global Moderate			International			International
	Delaware Ivy			Equity Allocation			Global Bond			Allocation			Small			Value
	VIP Energy			Institutional			Institutional			Institutional			Institutional			Institutional
	Class II			Class			Class			Class			Class			Class
INVESTMENT INCOME
Dividends	$	1,822,093		$	2,789		$	6,546		$	5,554		$	8,884		$	52,156
EXPENSES
Mortality and expense risk		665,033			347			722			415			490			2,080
Administrative fees		141,058			446			1,106			583			654			2,874
Total Expenses		806,091			793			1,828			998			1,144			4,954
Net Investment Income (Loss)		1,016,002			1,996			4,718			4,556			7,740			47,202
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		327,287			(3,138	)		(10,685	)		(1,685	)		(4,128	)		(7,281	)
Capital gain distributions		-			4,092			-			5,420			6,048			14,494
Realized Gain (Loss) on Investments		327,287			954			(10,685	)		3,735			1,920			7,213
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		18,128,436			(26,987	)		(19,722	)		(29,515	)		(36,937	)		(50,703	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	19,471,725		$	(24,037	)	$	(25,689	)	$	(21,224	)	$	(27,277	)	$	3,712

See Notes to Financial Statements

SA-32

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
	DFA VA									Fidelity VIP
	Short-Term			DFA VA			DFA VA US			Consumer		Fidelity VIP			Fidelity VIP
	Fixed			US Large Value			Targeted Value			Discretionary		Contrafund			Contrafund
	Institutional Class			Institutional Class			Institutional Class			Initial Class (1)		Initial Class			Service Class 2
INVESTMENT INCOME
Dividends	$	29,694		$	42,840		$	12,189		$	-	$	2,112		$	808,713
EXPENSES
Mortality and expense risk		2,617			2,024			1,670			-		570			2,905,021
Administrative fees		3,963			3,573			2,320			-		778			644,433
Total Expenses		6,580			5,597			3,990			-		1,348			3,549,454
Net Investment Income (Loss)		23,114			37,243			8,199			-		764			(2,740,741	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(8,414	)		(17,693	)		(22,075	)		-		(12,493	)		(8,739,913	)
Capital gain distributions		-			23,155			72,198			-		18,044			15,136,785
Realized Gain (Loss) on Investments		(8,414	)		5,462			50,123			-		5,551			6,396,872
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(23,736	)		(58,365	)		(77,829	)		43		(80,841	)		(106,541,917	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(9,036	)	$	(15,660	)	$	(19,507	)	$	43	$	(74,526	)	$	(102,885,786	)

	Fidelity VIP						Fidelity VIP			Fidelity VIP			Fidelity VIP			Fidelity VIP
	Emerging			Fidelity VIP			Extended Market			FundsManager			FundsManager			Government
	Markets			Energy			Index			60%			60%			Money Market
	Initial Class			Initial Class			Initial Class			Investor Class (1)			Service Class 2			Initial Class
INVESTMENT INCOME
Dividends	$	9,990		$	12,165		$	19,247		$	76,350		$	6,535,136		$	161,475
EXPENSES
Mortality and expense risk		504			688			2,461			698			3,977,286			14,481
Administrative fees		834			887			3,469			233			878,206			21,123
Total Expenses		1,338			1,575			5,930			931			4,855,492			35,604
Net Investment Income (Loss)		8,652			10,590			13,317			75,419			1,679,644			125,871
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(27,202	)		(9,767	)		(33,390	)		(4	)		(9,083,336	)		-
Capital gain distributions		-			-			23,960			-			66,590,423			-
Realized Gain (Loss) on Investments		(27,202	)		(9,767	)		(9,430	)		(4	)		57,507,087			-
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(5,239	)		119,980			(201,807	)		(90,131	)		(131,006,601	)		-
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(23,789	)	$	120,803		$	(197,920	)	$	(14,716	)	$	(71,819,870	)	$	125,871

	Fidelity VIP		Fidelity VIP						Fidelity VIP
	Government		Growth			Fidelity VIP			Investment			Fidelity VIP			Fidelity VIP
	Money Market		Opportunities			Index 500			Grade Bond			Strategic Income			Value Strategies
	Service Class		Initial Class			Initial Class			Initial Class			Service Class 2			Initial Class
INVESTMENT INCOME
Dividends	$	6,717,208	$	-		$	22,176		$	24,999		$	2,940,410		$	7,008
EXPENSES
Mortality and expense risk		4,633,336		274			2,064			811			808,075			1,044
Administrative fees		923,914		443			3,148			1,507			191,363			1,312
Total Expenses		5,557,250		717			5,212			2,318			999,438			2,356
Net Investment Income (Loss)		1,159,958		(717	)		16,964			22,681			1,940,972			4,652
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		-		(14,137	)		(75,884	)		(1,566	)		(1,873,643	)		(2,943	)
Capital gain distributions		-		11,590			866			4,252			93,607			24,783
Realized Gain (Loss) on Investments		-		(2,547	)		(75,018	)		2,686			(1,780,036	)		21,840
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		-		(48,775	)		(122,060	)		(74,271	)		(12,424,733	)		(45,787	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,159,958	$	(52,039	)	$	(180,114	)	$	(48,904	)	$	(12,263,797	)	$	(19,295	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-33

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
							First Trust/Dow
	First Trust			First Trust			Jones Dividend &
	Dorsey Wright Tactical Core			Multi Income Allocation			Income Allocation			Franklin Allocation			Franklin Allocation			Franklin Income
	Class I			Class I			Class I			VIP Class 2			VIP Class 4			VIP Class 1 (1)
INVESTMENT INCOME
Dividends	$	568,565		$	551,223		$	8,701,611		$	379,876		$	3,510,297		$	8,516
EXPENSES
Mortality and expense risk		368,071			186,568			6,501,602			157,690			2,800,207			206
Administrative fees		85,021			44,641			1,357,958			35,105			487,334			373
Total Expenses		453,092			231,209			7,859,560			192,795			3,287,541			579
Net Investment Income (Loss)		115,473			320,014			842,051			187,081			222,756			7,937
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(1,242,900	)		(165,191	)		(1,343,906	)		(1,051,938	)		(7,959,757	)		(1,240	)
Capital gain distributions		5,300,675			281,658			76,802,374			2,283,311			22,122,732			3,247
Realized Gain (Loss) on Investments		4,057,775			116,467			75,458,468			1,231,373			14,162,975			2,007
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(12,333,323	)		(2,277,808	)		(169,236,499	)		(5,987,221	)		(62,079,987	)		(12,255	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(8,160,075	)	$	(1,841,327	)	$	(92,935,980	)	$	(4,568,767	)	$	(47,694,256	)	$	(2,311	)

				Franklin						Franklin			Franklin			Franklin
	Franklin			Mutual Global			Franklin			Rising			Rising			Small Cap
	Income			Discovery			Mutual Shares			Dividends			Dividends			Value
	VIP Class 2			VIP Class 2			VIP Class 1 (1)			VIP Class 1			VIP Class 2			VIP Class 1 (1)
INVESTMENT INCOME
Dividends	$	2,976,321		$	2,224,234		$	1,210		$	6,076		$	1,833,958		$	658
EXPENSES
Mortality and expense risk		586,730			1,296,592			51			1,293			2,129,140			101
Administrative fees		122,572			281,268			101			1,656			464,495			201
Total Expenses		709,302			1,577,860			152			2,949			2,593,635			302
Net Investment Income (Loss)		2,267,019			646,374			1,058			3,127			(759,677	)		356
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(888,588	)		(2,002,921	)		(232	)		(53,874	)		(841,662	)		(294	)
Capital gain distributions		1,208,104			13,300,887			6,143			69,687			29,261,522			9,447
Realized Gain (Loss) on Investments		319,516			11,297,966			5,911			15,813			28,419,860			9,153
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(6,593,337	)		(22,001,083	)		(7,337	)		(31,344	)		(58,505,428	)		(11,648	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(4,006,802	)	$	(10,056,743	)	$	(368	)	$	(12,404	)	$	(30,845,245	)	$	(2,139	)

																Goldman Sachs
	Franklin			Franklin												VIT Large Cap
	Small-Mid			Strategic			Templeton			Templeton			Templeton			Value
	Cap Growth			Income			Foreign			Global Bond			Global Bond			Institutional
	VIP Class 1			VIP Class 1			VIP Class 1			VIP Class 1			VIP Class 2			Shares (1)
INVESTMENT INCOME
Dividends	$	-		$	6,466		$	962		$	-		$	-		$	806
EXPENSES
Mortality and expense risk		321			226			43			152			600,806			85
Administrative fees		643			424			85			234			132,093			102
Total Expenses		964			650			128			386			732,899			187
Net Investment Income (Loss)		(964	)		5,816			834			(386	)		(732,899	)		619
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(2,426	)		(124	)		(273	)		(468	)		(3,699,040	)		(94	)
Capital gain distributions		34,928			-			-			-			-			5,731
Realized Gain (Loss) on Investments		32,502			(124	)		(273	)		(468	)		(3,699,040	)		5,637
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(77,131	)		(18,834	)		(3,117	)		(2,749	)		173,369			(4,127	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(45,593	)	$	(13,142	)	$	(2,556	)	$	(3,603	)	$	(4,258,570	)	$	2,129

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-34

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
							Goldman Sachs
	Goldman Sachs			Goldman Sachs			VIT Trends			Janus			Janus			Janus
	VIT Mid Cap			VIT Strategic			Driven			Henderson			Henderson			Henderson
	Value			Growth			Allocation			Balanced			Balanced			Enterprise
	Institutional			Institutional			Institutional			Institutional			Service			Institutional
	Shares			Shares (1)			Shares (1)			Shares			Shares			Shares
INVESTMENT INCOME
Dividends	$	1,385		$	-		$	-		$	27,638		$	57,471,264		$	25
EXPENSES
Mortality and expense risk		288			102			546			3,166			51,868,478			241
Administrative fees		577			205			546			6,333			12,088,981			322
Total Expenses		865			307			1,092			9,499			63,957,459			563
Net Investment Income (Loss)		520			(307	)		(1,092	)		18,139			(6,486,195	)		(538	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(339	)		(130	)		(1,921	)		(45,558	)		(51,206,210	)		(7,268	)
Capital gain distributions		29,794			20,310			9,664			61,571			149,669,817			1,994
Realized Gain (Loss) on Investments		29,455			20,180			7,743			16,013			98,463,607			(5,274	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(51,598	)		(27,976	)		(40,959	)		(375,258	)		(1,138,781,797	)		10,685
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(21,623	)	$	(8,103	)	$	(34,308	)	$	(341,106	)	$	(1,046,804,385	)	$	4,873

	Janus			JPMorgan			JPMorgan			JPMorgan			JPMorgan			JPMorgan
	Henderson			Insurance Trust			Insurance Trust			Insurance Trust			Insurance Trust			Insurance Trust
	Flexible Bond			Core Bond			Global Allocation			Income Builder			Mid Cap Value			U.S. Equity
	Service Shares			Class 1			Class 2			Class 2			Class 1			Class 1
INVESTMENT INCOME
Dividends	$	639,201		$	3,099		$	164,565		$	464,005		$	1,087		$	76
EXPENSES
Mortality and expense risk		326,913			1,957			109,038			121,181			1,617			259
Administrative fees		71,523			250			24,270			26,243			311			31
Total Expenses		398,436			2,207			133,308			147,424			1,928			290
Net Investment Income (Loss)		240,765			892			31,257			316,581			(841	)		(214	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(829,222	)		(1,471	)		(107,007	)		(113,447	)		(544	)		6,517
Capital gain distributions		553,247			810			725,056			376,615			16,334			2,108
Realized Gain (Loss) on Investments		(275,975	)		(661	)		618,049			263,168			15,790			8,625
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(5,437,202	)		(23,938	)		(3,246,090	)		(2,558,081	)		(20,574	)		(13,242	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(5,472,412	)	$	(23,707	)	$	(2,596,784	)	$	(1,978,332	)	$	(5,625	)	$	(4,831	)

																MFS
	ClearBridge						Lord Abbett						MFS			Massachusetts
	Variable			Western Asset			Bond			Lord Abbett			International			Investors
	Aggressive			Core Plus			Debenture			Total Return			Growth -			Growth Stock -
	Growth - Class II			VIT Class I			Class VC			Class VC			Initial Class			Service Class
INVESTMENT INCOME
Dividends	$	-		$	27,480		$	6,360,699		$	8,279,820		$	3,703		$	-
EXPENSES
Mortality and expense risk		112,201			1,793			1,259,172			1,805,700			1,545			470,525
Administrative fees		26,730			2,936			282,642			413,687			1,783			107,919
Total Expenses		138,931			4,729			1,541,814			2,219,387			3,328			578,444
Net Investment Income (Loss)		(138,931	)		22,751			4,818,885			6,060,433			375			(578,444	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(694,959	)		(7,305	)		(3,497,292	)		(3,663,769	)		(6,019	)		(873,522	)
Capital gain distributions		1,603,651			-			401,453			558,138			35,134			9,949,445
Realized Gain (Loss) on Investments		908,692			(7,305	)		(3,095,839	)		(3,105,631	)		29,115			9,075,923
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(4,897,104	)		(175,486	)		(24,516,727	)		(46,341,244	)		(93,577	)		(25,558,998	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(4,127,343	)	$	(160,040	)	$	(22,793,681	)	$	(43,386,442	)	$	(64,087	)	$	(17,061,519	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-35

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2022

	Variable Accounts
	MFS			MFS			MFS			MFS			MFS			MFS
	New Discovery			Total Return			Utilities			Utilities			Value			Value
	Series -			Series -			Series -			Series -			Series -			Series -
	Initial Class			Service Class			Initial Class			Service Class			Initial Class			Service Class
INVESTMENT INCOME
Dividends	$	-		$	6,528,323		$	2,298		$	1,528,391		$	1,586		$	913,768
EXPENSES
Mortality and expense risk		1,211			4,436,073			238			653,492			173			536,166
Administrative fees		1,444			926,001			286			140,267			299			118,788
Total Expenses		2,655			5,362,074			524			793,759			472			654,954
Net Investment Income (Loss)		(2,655	)		1,166,249			1,774			734,632			1,114			258,814
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(31,989	)		(4,530,022	)		(43	)		(930,538	)		(295	)		963,344
Capital gain distributions		161,377			38,825,149			3,643			2,687,269			6,761			4,810,145
Realized Gain (Loss) on Investments		129,388			34,295,127			3,600			1,756,731			6,466			5,773,489
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(292,677	)		(88,854,681	)		(1,899	)		(3,296,883	)		(13,801	)		(12,322,452	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(165,944	)	$	(53,393,305	)	$	3,475		$	(805,520	)	$	(6,221	)	$	(6,290,149	)

	Neuberger Berman
	U.S. Equity			TOPS												TOPS
	Index PutWrite			Aggressive			TOPS			TOPS			TOPS			Managed Risk
	Strategy			Growth			Balanced			Conservative			Growth			Growth
	Class S			ETF Class 1 (1)			ETF Class 1			ETF Class 1 (1)			ETF Class 1			ETF Class 1 (1)
INVESTMENT INCOME
Dividends	$	-		$	59		$	2,858		$	2,813		$	841		$	827
EXPENSES
Mortality and expense risk		29,242			65			218			233			330			9
Administrative fees		7,630			130			291			467			342			18
Total Expenses		36,872			195			509			700			672			27
Net Investment Income (Loss)		(36,872	)		(136	)		2,349			2,113			169			800
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(191,179	)		(10,773	)		(264	)		(6,182	)		(5,411	)		(26	)
Capital gain distributions		666,350			3			2,469			2,273			309			3,660
Realized Gain (Loss) on Investments		475,171			(10,770	)		2,205			(3,909	)		(5,102	)		3,634
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(876,896	)		(366	)		(15,972	)		(6,687	)		(19,590	)		(5,002	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(438,597	)	$	(11,272	)	$	(11,418	)	$	(8,483	)	$	(24,523	)	$	(568	)

							PIMCO			PIMCO						PIMCO
	TOPS						Commodity-			Emerging						Long-Term U.S.
	Moderate			PIMCO			RealReturn			Markets Bond -			PIMCO			Government -
	Growth			All Asset -			Strategy -			Institutional			Income -			Institutional
	ETF Class 1 (1)			Advisor Class			Advisor Class			Class			Advisor Class			Class (1)
INVESTMENT INCOME
Dividends	$	894		$	371,445		$	8,445,402		$	11,578		$	698,295		$	2,329
EXPENSES
Mortality and expense risk		22			48,409			392,045			466			165,697			154
Administrative fees		43			10,726			82,332			681			40,640			299
Total Expenses		65			59,135			474,377			1,147			206,337			453
Net Investment Income (Loss)		829			312,310			7,971,025			10,431			491,958			1,876
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(4	)		(206,706	)		(5,659,844	)		(5,166	)		(618,383	)		(714	)
Capital gain distributions		655			395,581			-			-			1,512			-
Realized Gain (Loss) on Investments		651			188,875			(5,659,844	)		(5,166	)		(616,871	)		(714	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(417	)		(1,219,149	)		(2,548,685	)		(34,674	)		(1,584,731	)		(23,483	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,063		$	(717,964	)	$	(237,504	)	$	(29,409	)	$	(1,709,644	)	$	(22,321	)

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-36

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2022

	Variable Accounts
													PSF PGIM			PSF PGIM
	PIMCO			PIMCO			PSF International			PSF Mid-Cap			Jennison			Jennison
	Low Duration -			Total Return -			Growth			Growth			Growth			Value
	Institutional Class			Institutional Class			Class II			Class II			Class II			Class II
INVESTMENT INCOME
Dividends	$	10,265		$	17,391		$	-		$	-		$	-		$	-
EXPENSES
Mortality and expense risk		742			930			726			351			1,170			1,273
Administrative fees		1,416			1,608			76			35			133			140
Total Expenses		2,158			2,538			802			386			1,303			1,413
Net Investment Income (Loss)		8,107			14,853			(802	)		(386	)		(1,303	)		(1,413	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(4,079	)		(22,289	)		2,260			(121	)		1,191			3,763
Capital gain distributions		-			-			-			-			-			-
Realized Gain (Loss) on Investments		(4,079	)		(22,289	)		2,260			(121	)		1,191			3,763
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(26,196	)		(34,235	)		(22,208	)		(7,796	)		(47,431	)		(12,199	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(22,168	)	$	(41,671	)	$	(20,750	)	$	(8,303	)	$	(47,543	)	$	(9,849	)

							Schwab						State Street			T. Rowe Price
	Schwab			Schwab			VIT Balanced			Schwab			Total Return			Blue Chip
	S&P 500 Index			VIT Balanced			with Growth			VIT Growth			V.I.S. Class 3			Growth - I
INVESTMENT INCOME
Dividends	$	225,623		$	990,596		$	2,217,352		$	2,499,175		$	1,190,936		$	-
EXPENSES
Mortality and expense risk		28,819			230,554			517,197			532,687			3,253,341			1,032
Administrative fees		49,155			159,467			339,338			368,980			588,073			1,469
Total Expenses		77,974			390,021			856,535			901,667			3,841,414			2,501
Net Investment Income (Loss)		147,649			600,575			1,360,817			1,597,508			(2,650,478	)		(2,501	)
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(467,628	)		348,029			392,414			(673,027	)		(6,653,206	)		(15,730	)
Capital gain distributions		140,222			1,199,016			2,734,584			3,638,051			4,450,264			43,547
Realized Gain (Loss) on Investments		(327,406	)		1,547,045			3,126,998			2,965,024			(2,202,942	)		27,817
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(2,270,675	)		(13,196,190	)		(30,357,237	)		(35,448,935	)		(59,445,045	)		(221,807	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(2,450,432	)	$	(11,048,570	)	$	(25,869,422	)	$	(30,886,403	)	$	(64,298,465	)	$	(196,491	)

	T. Rowe Price			T. Rowe Price			VanEck VIP									Vanguard VIF
	Equity			Health			Global Resources			Vanguard VIF			Vanguard VIF			Conservative
	Income - I			Sciences - I			Class S			Balanced			Capital Growth			Allocation
INVESTMENT INCOME
Dividends	$	5,390		$	-		$	423,981		$	98,528		$	6,790		$	42,765
EXPENSES
Mortality and expense risk		480			912			266,977			12,996			1,579			4,262
Administrative fees		757			1,099			56,559			20,979			2,676			7,785
Total Expenses		1,237			2,011			323,536			33,975			4,255			12,047
Net Investment Income (Loss)		4,153			(2,011	)		100,445			64,553			2,535			30,718
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(2,001	)		(4,263	)		(269,061	)		(172,493	)		(38,148	)		(170,286	)
Capital gain distributions		15,017			7,029			-			493,543			73,370			75,110
Realized Gain (Loss) on Investments		13,016			2,766			(269,061	)		321,050			35,222			(95,176	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(30,143	)		(40,412	)		1,432,065			(1,239,513	)		(145,174	)		(326,302	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(12,974	)	$	(39,657	)	$	1,263,449		$	(853,910	)	$	(107,417	)	$	(390,760	)

See Notes to Financial Statements

SA-37

SEPARATE ACCOUNT A

STATEMENTS OF OPERATIONS (Continued)

FOR THE YEAR ENDED DECEMBER 31, 2022

	Variable Accounts
	Vanguard VIF			Vanguard VIF			Vanguard VIF			Vanguard VIF			Vanguard VIF			Vanguard VIF
	Diversified Value			Equity Income			Equity Index			Global Bond Index			Growth			High Yield Bond
INVESTMENT INCOME
Dividends	$	10,221		$	8,734		$	31,353		$	25,192		$	-		$	27,211
EXPENSES
Mortality and expense risk		2,481			1,998			3,333			2,432			2,305			1,331
Administrative fees		2,946			2,950			6,667			2,736			2,910			1,972
Total Expenses		5,427			4,948			10,000			5,168			5,215			3,303
Net Investment Income (Loss)		4,794			3,786			21,353			20,024			(5,215	)		23,908
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(21,278	)		(7,087	)		(29,928	)		(7,646	)		(195,699	)		(18,373	)
Capital gain distributions		80,862			37,131			104,838			9,304			241,758			-
Realized Gain (Loss) on Investments		59,584			30,044			74,910			1,658			46,059			(18,373	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(173,465	)		82,587			(560,758	)		(157,191	)		(358,564	)		(64,941	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(109,087	)	$	116,417		$	(464,495	)	$	(135,509	)	$	(317,720	)	$	(59,406	)

													Vanguard VIF
													Short-Term			Vanguard VIF
	Vanguard VIF			Vanguard VIF			Vanguard VIF			Vanguard VIF			Investment-			Total Bond
	International			Mid-Cap Index			Moderate Allocation			Real Estate Index			Grade			Market Index
INVESTMENT INCOME
Dividends	$	2,427		$	15,892		$	175,290		$	18,827		$	34,399		$	128,856
EXPENSES
Mortality and expense risk		561			3,467			17,390			1,801			5,385			12,944
Administrative fees		840			5,657			29,216			3,294			7,642			19,998
Total Expenses		1,401			9,124			46,606			5,095			13,027			32,942
Net Investment Income (Loss)		1,026			6,768			128,684			13,732			21,372			95,914
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(119,997	)		(77,509	)		(132,274	)		(8,271	)		(38,015	)		(287,188	)
Capital gain distributions		35,976			150,763			326,610			42,524			16,419			45,723
Realized Gain (Loss) on Investments		(84,021	)		73,254			194,336			34,253			(21,596	)		(241,465	)
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		2,007			(404,889	)		(1,602,587	)		(360,256	)		(112,899	)		(760,100	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(80,988	)	$	(324,867	)	$	(1,279,567	)	$	(312,271	)	$	(113,123	)	$	(905,651	)

	Vanguard VIF
	Total
	International			Vanguard VIF
	Stock Market			Total Stock
	Index			Market Index
INVESTMENT INCOME
Dividends	$	108,307		$	62,144
EXPENSES
Mortality and expense risk		8,890			9,379
Administrative fees		14,258			15,640
Total Expenses		23,148			25,019
Net Investment Income (Loss)		85,159			37,125
REALIZED GAIN (LOSS) ON INVESTMENTS
Realized gain (loss) on sale of investments		(66,842	)		(210,004	)
Capital gain distributions		113,378			332,882
Realized Gain (Loss) on Investments		46,536			122,878
CHANGE IN NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS		(818,870	)		(1,151,349	)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	(687,175	)	$	(991,346	)

See Notes to Financial Statements

SA-38

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Core Income						Diversified Bond						Floating Rate Income
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(402,474	)	$	(413,066	)	$	(2,300,476	)	$	(2,755,007	)	$	(2,059,520	)	$	(1,896,350	)
Realized gain (loss) on investments		(532,190	)		(7,658	)		(5,005,758	)		(373,028	)		(736,909	)		29,333
Change in net unrealized appreciation (depreciation) on investments		(4,494,953	)		(147,565	)		(38,905,212	)		(3,884,202	)		(2,008,250	)		6,524,342
Net Increase (Decrease) in Net Assets Resulting from Operations		(5,429,617	)		(568,289	)		(46,211,446	)		(7,012,237	)		(4,804,679	)		4,657,325
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,309,364			5,910,656			10,441,602			32,741,645			12,247,378			10,197,689
Transfers between variable and fixed accounts, net		1,988,801			(1,250,320	)		(7,660,091	)		16,753,315			24,545,729			24,343,106
Contract benefits and terminations		(3,680,029	)		(3,013,583	)		(17,421,538	)		(25,228,936	)		(20,043,735	)		(19,626,081	)
Contract charges and deductions		(4,300	)		(3,967	)		(280,737	)		(275,451	)		(240,825	)		(217,996	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		380			409			(2,117	)		(3,953	)		325			(9,970	)
Other		2,639			(465	)		3,215			(7,110	)		(8,707	)		957
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,616,855			1,642,730			(14,919,666	)		23,979,510			16,500,165			14,687,705
NET INCREASE (DECREASE) IN NET ASSETS		(3,812,762	)		1,074,441			(61,131,112	)		16,967,273			11,695,486			19,345,030
NET ASSETS
Beginning of Year		39,404,318			38,329,877			242,491,985			225,524,712			153,131,393			133,786,363
End of Year	$	35,591,556		$	39,404,318		$	181,360,873		$	242,491,985		$	164,826,879		$	153,131,393


	Floating Rate Income						High Yield Bond						Inflation Managed
	Class P (1)						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(5,521	)	$	(1,490	)	$	(1,871,145	)	$	(2,286,528	)	$	(2,538,294	)	$	(2,696,782	)
Realized gain (loss) on investments		(6,847	)		17			11,604,730			2,726,946			(1,375,154	)		(67,631	)
Change in net unrealized appreciation (depreciation) on investments		(5,018	)		10,908			(28,715,987	)		6,192,117			(23,198,842	)		10,882,476
Net Increase (Decrease) in Net Assets Resulting from Operations		(17,386	)		9,435			(18,982,402	)		6,632,535			(27,112,290	)		8,118,063
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		602,643			816,248			3,702,160			10,100,544			8,281,465			14,714,702
Transfers between variable and fixed accounts, net		40,800			1,807			(14,654,586	)		4,498,267			(4,667,467	)		32,024,228
Contract benefits and terminations		(362,148	)		(4,689	)		(15,296,489	)		(21,770,283	)		(21,341,174	)		(22,075,582	)
Contract charges and deductions		-			-			(295,320	)		(296,195	)		(318,890	)		(304,063	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(9,710	)		(13,126	)		(9,662	)		(9,514	)
Other		(14	)		(40	)		1,765			21,371			(3,775	)		(155	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		281,281			813,326			(26,552,180	)		(7,459,422	)		(18,059,503	)		24,349,616
NET INCREASE (DECREASE) IN NET ASSETS		263,895			822,761			(45,534,582	)		(826,887	)		(45,171,793	)		32,467,679
NET ASSETS
Beginning of Year or Period		822,761			-			169,113,680			169,940,567			214,072,254			181,604,575
End of Year or Period	$	1,086,656		$	822,761		$	123,579,098		$	169,113,680		$	168,900,461		$	214,072,254

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-39

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Intermediate Bond						Managed Bond						Short Duration Bond
	Class I (1)						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(37,146	)	$	(573	)	$	(4,206,282	)	$	(5,137,019	)	$	(3,363,749	)	$	(3,833,257	)
Realized gain (loss) on investments		(59,767	)		(14	)		9,538,846			1,113,071			(944,004	)		(68,106	)
Change in net unrealized appreciation (depreciation) on investments		(309,874	)		(271	)		(61,940,554	)		(5,670,882	)		(15,292,588	)		(1,653,375	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(406,787	)		(858	)		(56,607,990	)		(9,694,830	)		(19,600,341	)		(5,554,738	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,165,724			720,471			17,421,036			31,967,006			15,031,108			24,924,186
Transfers between variable and fixed accounts, net		4,313,334			264,002			(10,017,580	)		22,588,787			(10,329,463	)		45,560,960
Contract benefits and terminations		(141,946	)		(19,594	)		(49,095,017	)		(55,827,165	)		(41,956,377	)		(54,546,352	)
Contract charges and deductions		(10,484	)		(25	)		(585,728	)		(597,715	)		(1,295,262	)		(1,383,425	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(38,681	)		(28,409	)		(479	)		(52	)
Other		(305	)		(32	)		23,452			1,498			387			3,179
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		7,326,323			964,822			(42,292,518	)		(1,895,998	)		(38,550,086	)		14,558,496
NET INCREASE (DECREASE) IN NET ASSETS		6,919,536			963,964			(98,900,508	)		(11,590,828	)		(58,150,427	)		9,003,758
NET ASSETS
Beginning of Year or Period		963,964			-			391,987,013			403,577,841			368,495,538			359,491,780
End of Year or Period	$	7,883,500		$	963,964		$	293,086,505		$	391,987,013		$	310,345,111		$	368,495,538


	Emerging Markets Debt						Dividend Growth						Equity Index
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(165,378	)	$	(208,205	)	$	(4,899,463	)	$	(5,081,372	)	$	(16,310,170	)	$	(16,901,404	)
Realized gain (loss) on investments		143,218			9,377			10,444,131			5,064,990			(5,628,567	)		45,849
Change in net unrealized appreciation (depreciation) on investments		(1,690,517	)		(1,138,942	)		(61,173,849	)		95,056,118			(292,077,983	)		351,066,628
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,712,677	)		(1,337,770	)		(55,629,181	)		95,039,736			(314,016,720	)		334,211,073
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		264,743			1,564,016			30,591,946			39,706,495			110,006,276			219,946,080
Transfers between variable and fixed accounts, net		(1,093,640	)		809,795			(3,181,764	)		3,322,200			(2,561,790	)		(6,569,485	)
Contract benefits and terminations		(2,167,787	)		(1,874,123	)		(38,649,440	)		(44,770,291	)		(124,618,376	)		(124,097,171	)
Contract charges and deductions		(29,097	)		(29,124	)		(792,507	)		(786,669	)		(608,183	)		(593,228	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(4,265	)		(10,881	)		(12,987	)		(9,467	)
Other		(107	)		(234	)		38,021			15,576			6,704			30,765
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(3,025,888	)		470,330			(11,998,009	)		(2,523,570	)		(17,788,356	)		88,707,494
NET INCREASE (DECREASE) IN NET ASSETS		(4,738,565	)		(867,440	)		(67,627,190	)		92,516,166			(331,805,076	)		422,918,567
NET ASSETS
Beginning of Year		17,267,388			18,134,828			485,107,198			392,591,032			1,630,463,464			1,207,544,897
End of Year	$	12,528,823		$	17,267,388		$	417,480,008		$	485,107,198		$	1,298,658,388		$	1,630,463,464

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-40

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Focused Growth						Growth						Hedged Equity
	Class I						Class I						Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(2,463,257	)	$	(3,270,801	)	$	(4,289,870	)	$	(5,450,750	)	$	(953,400	)	$	(148,362	)
Realized gain (loss) on investments		5,710,646			815,069			13,572,389			15,907,382			(1,211,273	)		15,693
Change in net unrealized appreciation (depreciation) on investments		(93,523,205	)		42,551,095			(154,688,523	)		72,796,833			(2,765,995	)		924,584
Net Increase (Decrease) in Net Assets Resulting from Operations		(90,275,816	)		40,095,363			(145,406,004	)		83,253,465			(4,930,668	)		791,915
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		11,372,052			26,882,414			16,575,457			38,593,612			39,151,807			25,517,971
Transfers between variable and fixed accounts, net		(1,007,094	)		3,041,380			(786,278	)		(10,456,522	)		56,494,250			11,218,209
Contract benefits and terminations		(18,809,717	)		(22,588,124	)		(29,466,358	)		(42,404,905	)		(5,118,697	)		(468,769	)
Contract charges and deductions		(181,334	)		(194,488	)		(376,774	)		(412,766	)		(877,331	)		(95,199	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(3,238	)		(4,466	)		(5,388	)		(10,776	)		-			-
Other		5,644			(1,734	)		47,548			11,786			34,179			(1,623	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(8,623,687	)		7,134,982			(14,011,793	)		(14,679,571	)		89,684,208			36,170,589
NET INCREASE (DECREASE) IN NET ASSETS		(98,899,503	)		47,230,345			(159,417,797	)		68,573,894			84,753,540			36,962,504
NET ASSETS
Beginning of Year or Period		266,598,139			219,367,794			454,798,690			386,224,796			36,962,504			-
End of Year or Period	$	167,698,636		$	266,598,139		$	295,380,893		$	454,798,690		$	121,716,044		$	36,962,504


	Hedged Equity						Large-Cap Core						Large-Cap Growth
	Class P (1)						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(2,325	)	$	(136	)	$	(3,508,685	)	$	(4,198,259	)	$	(2,981,329	)	$	(4,030,020	)
Realized gain (loss) on investments		(2,514	)		7			20,910,663			32,166,716			8,606,304			7,795,234
Change in net unrealized appreciation (depreciation) on investments		(8,811	)		3,263			(83,810,553	)		41,684,869			(131,126,463	)		48,466,042
Net Increase (Decrease) in Net Assets Resulting from Operations		(13,650	)		3,134			(66,408,575	)		69,653,326			(125,501,488	)		52,231,256
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		921,232			12,800			7,705,190			7,860,014			13,230,471			32,459,983
Transfers between variable and fixed accounts, net		532,079			101,088			(2,677,191	)		(8,810,113	)		2,424,272			(17,163,770	)
Contract benefits and terminations		(10,128	)		(781	)		(28,219,627	)		(34,710,742	)		(23,675,007	)		(31,236,786	)
Contract charges and deductions		(4,789	)		(275	)		(375,453	)		(417,387	)		(203,836	)		(239,495	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(25,351	)		(47,736	)		(14,854	)		(5,524	)
Other		(18	)		(93	)		20,329			8,454			(1,424	)		19,197
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,438,376			112,739			(23,572,103	)		(36,117,510	)		(8,240,378	)		(16,166,395	)
NET INCREASE (DECREASE) IN NET ASSETS		1,424,726			115,873			(89,980,678	)		33,535,816			(133,741,866	)		36,064,861
NET ASSETS
Beginning of Year or Period		115,873			-			317,067,817			283,532,001			328,630,649			292,565,788
End of Year or Period	$	1,540,599		$	115,873		$	227,087,139		$	317,067,817		$	194,888,783		$	328,630,649

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-41

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Large-Cap Value						Mid-Cap Equity						Mid-Cap Growth
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(3,118,935	)	$	(3,134,231	)	$	(3,061,691	)	$	(3,447,719	)	$	(3,363,220	)	$	(4,416,992	)
Realized gain (loss) on investments		(810,820	)		1,537,757			4,594,998			6,440,347			5,662,697			23,975,974
Change in net unrealized appreciation (depreciation) on investments		(16,499,662	)		51,060,325			(50,140,731	)		31,386,135			(119,065,705	)		30,774,212
Net Increase (Decrease) in Net Assets Resulting from Operations		(20,429,417	)		49,463,851			(48,607,424	)		34,378,763			(116,766,228	)		50,333,194
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		15,308,554			19,581,232			10,470,875			19,222,736			11,925,667			31,517,119
Transfers between variable and fixed accounts, net		8,365,340			11,659,079			3,854,418			2,510,903			9,003,560			(21,612,443	)
Contract benefits and terminations		(19,657,798	)		(24,794,655	)		(19,030,116	)		(25,269,675	)		(24,186,367	)		(33,101,164	)
Contract charges and deductions		(208,042	)		(205,062	)		(253,112	)		(248,749	)		(522,783	)		(618,725	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(3,920	)		(16,012	)		481			(8,911	)		(4,728	)		(9,988	)
Other		15,934			21,002			6,521			8,509			(12,698	)		10,671
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		3,820,068			6,245,584			(4,950,933	)		(3,785,187	)		(3,797,349	)		(23,814,530	)
NET INCREASE (DECREASE) IN NET ASSETS		(16,609,349	)		55,709,435			(53,558,357	)		30,593,576			(120,563,577	)		26,518,664
NET ASSETS
Beginning of Year		256,269,837			200,560,402			265,451,633			234,858,057			368,344,471			341,825,807
End of Year	$	239,660,488		$	256,269,837		$	211,893,276		$	265,451,633		$	247,780,894		$	368,344,471


	Mid-Cap Value						Small-Cap Equity						Small-Cap Growth
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(1,281,872	)	$	(1,327,731	)	$	(755,340	)	$	(874,329	)	$	(1,408,645	)	$	(1,905,564	)
Realized gain (loss) on investments		(127,452	)		242,671			1,206,139			(225,082	)		(1,972,493	)		5,794,629
Change in net unrealized appreciation (depreciation) on investments		(8,843,335	)		23,755,232			(10,400,174	)		14,845,419			(44,741,138	)		(3,182,181	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(10,252,659	)		22,670,172			(9,949,375	)		13,746,008			(48,122,276	)		706,884
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		7,321,748			13,943,220			5,845,852			9,987,117			7,128,960			21,739,561
Transfers between variable and fixed accounts, net		(5,978,837	)		8,478,026			(5,814,947	)		697,420			11,339,161			(7,004,778	)
Contract benefits and terminations		(10,015,500	)		(9,812,591	)		(5,417,337	)		(5,389,147	)		(10,269,787	)		(17,325,600	)
Contract charges and deductions		(168,350	)		(150,041	)		(93,690	)		(95,377	)		(306,618	)		(327,663	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(634	)		(223	)		(3,097	)		(3,930	)		(2,861	)		(3,703	)
Other		(2,096	)		3,644			(948	)		(13,997	)		(7,064	)		(5,075	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(8,843,669	)		12,462,035			(5,484,167	)		5,182,086			7,881,791			(2,927,258	)
NET INCREASE (DECREASE) IN NET ASSETS		(19,096,328	)		35,132,207			(15,433,542	)		18,928,094			(40,240,485	)		(2,220,374	)
NET ASSETS
Beginning of Year		120,534,150			85,401,943			73,712,345			54,784,251			152,924,932			155,145,306
End of Year	$	101,437,822		$	120,534,150		$	58,278,803		$	73,712,345		$	112,684,447		$	152,924,932

See Notes to Financial Statements

SA-42

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Small-Cap Index						Small-Cap Value						Value
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(3,066,828	)	$	(3,739,437	)	$	(1,526,985	)	$	(1,811,429	)	$	(1,868,761	)	$	(1,951,096	)
Realized gain (loss) on investments		5,530,358			7,569,077			6,532,013			2,829,411			7,614,061			14,472,683
Change in net unrealized appreciation (depreciation) on investments		(67,238,281	)		29,978,235			(29,747,506	)		34,715,726			(8,773,661	)		21,514,543
Net Increase (Decrease) in Net Assets Resulting from Operations		(64,774,751	)		33,807,875			(24,742,478	)		35,733,708			(3,028,361	)		34,036,130
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		12,241,628			27,135,140			6,254,005			12,594,678			5,302,581			4,768,752
Transfers between variable and fixed accounts, net		1,856,404			(366,974	)		(7,680,289	)		3,563,972			4,833,556			(6,543,140	)
Contract benefits and terminations		(22,674,898	)		(28,849,524	)		(11,349,843	)		(13,566,118	)		(16,790,518	)		(20,208,874	)
Contract charges and deductions		(206,775	)		(224,453	)		(174,141	)		(183,727	)		(702,903	)		(766,694	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(16,204	)		(5,875	)		(2,896	)		686			203			(8,812	)
Other		(5,535	)		14,024			12			1,421			8,248			5,204
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(8,805,380	)		(2,297,662	)		(12,953,152	)		2,410,912			(7,348,833	)		(22,753,564	)
NET INCREASE (DECREASE) IN NET ASSETS		(73,580,131	)		31,510,213			(37,695,630	)		38,144,620			(10,377,194	)		11,282,566
NET ASSETS
Beginning of Year		297,353,955			265,843,742			146,262,895			108,118,275			187,762,796			176,480,230
End of Year	$	223,773,824		$	297,353,955		$	108,567,265		$	146,262,895		$	177,385,602		$	187,762,796


	Value Advantage						Emerging Markets						International Growth
	Class I						Class I						Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(975,828	)	$	(742,863	)	$	(1,883,208	)	$	(2,579,157	)	$	(7,652	)	$	(263	)
Realized gain (loss) on investments		(1,058,747	)		(68,755	)		(1,522,859	)		4,646,603			(47,241	)		(14	)
Change in net unrealized appreciation (depreciation) on investments		(3,074,733	)		14,757,360			(45,651,155	)		(20,855,736	)		(51,671	)		11,559
Net Increase (Decrease) in Net Assets Resulting from Operations		(5,109,308	)		13,945,742			(49,057,222	)		(18,788,290	)		(106,564	)		11,282
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		7,266,819			16,468,105			4,850,561			13,051,082			969,514			330,496
Transfers between variable and fixed accounts, net		16,072,985			4,574,230			13,420,508			3,775,999			299,146			87,401
Contract benefits and terminations		(5,860,233	)		(4,287,631	)		(12,475,381	)		(18,199,923	)		(20,116	)		-
Contract charges and deductions		(92,890	)		(61,315	)		(320,780	)		(343,481	)		(801	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		181			114			(5,478	)		(5,393	)		-			-
Other		(6,939	)		(961	)		1,596			655			(49	)		(15	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		17,379,923			16,692,542			5,471,026			(1,721,061	)		1,247,694			417,882
NET INCREASE (DECREASE) IN NET ASSETS		12,270,615			30,638,284			(43,586,196	)		(20,509,351	)		1,141,130			429,164
NET ASSETS
Beginning of Year or Period		77,360,557			46,722,273			184,146,175			204,655,526			429,164			-
End of Year or Period	$	89,631,172		$	77,360,557		$	140,559,979		$	184,146,175		$	1,570,294		$	429,164

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-43

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	International Large-Cap						International Small-Cap						International Value
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	2,880,546	)	$	(3,307,218	)	$	(461,379	)	$	(569,610	)	$	(1,453,120	)	$	(1,554,487	)
Realized gain (loss) on investments		6,639,173			8,795,900			1,056,269			2,230,170			2,960,080			2,037,626
Change in net unrealized appreciation (depreciation) on investments		(51,327,327	)		30,015,099			(8,366,212	)		3,365,904			(4,674,764	)		18,797,152
Net Increase (Decrease) in Net Assets Resulting from Operations		(47,568,700	)		35,503,781			(7,771,322	)		5,026,464			(3,167,804	)		19,280,291
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		8,496,479			19,003,843			1,474,705			3,663,129			3,689,298			9,771,615
Transfers between variable and fixed accounts, net		3,482,446			1,225,323			9,224			(2,315,665	)		(37,462	)		1,172,038
Contract benefits and terminations		(19,322,980	)		(29,532,247	)		(3,061,804	)		(4,015,961	)		(8,863,055	)		(14,176,083	)
Contract charges and deductions		(850,226	)		(917,352	)		(102,936	)		(103,715	)		(222,629	)		(209,472	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		49			(2,230	)		(1,467	)		151			(6,690	)		(22,080	)
Other		2,091			7,143			(1,305	)		(859	)		4,171			4,729
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(8,192,141	)		(10,215,520	)		(1,683,583	)		(2,772,920	)		(5,436,367	)		(3,459,253	)
NET INCREASE (DECREASE) IN NET ASSETS		(55,760,841	)		25,288,261			(9,454,905	)		2,253,544			(8,604,171	)		15,821,038
NET ASSETS
Beginning of Year		295,626,098			270,337,837			43,597,347			41,343,803			120,222,276			104,401,238
End of Year	$	239,865,257		$	295,626,098		$	34,142,442		$	43,597,347		$	111,618,105		$	120,222,276


	Health Sciences						Real Estate						Technology
	Class I						Class I						Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(3,971,265	)	$	(4,508,758	)	$	(1,702,796	)	$	(1,936,833	)	$	(2,235,497	)	$	(2,938,997	)
Realized gain (loss) on investments		27,529,852			12,927,756			13,677,917			8,575,791			(513,101	)		3,257,968
Change in net unrealized appreciation (depreciation) on investments		(48,919,674	)		25,810,461			(52,661,964	)		39,134,236			(83,086,408	)		25,005,805
Net Increase (Decrease) in Net Assets Resulting from Operations		(25,361,087	)		34,229,459			(40,686,843	)		45,773,194			(85,835,006	)		25,324,776
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		12,153,360			23,619,567			4,107,175			7,213,706			10,242,383			22,494,595
Transfers between variable and fixed accounts, net		(8,261,466	)		4,761,743			(6,303,489	)		161,615			10,702,987			(5,709,371	)
Contract benefits and terminations		(31,672,584	)		(38,052,704	)		(13,649,119	)		(16,341,905	)		(17,833,821	)		(20,464,410	)
Contract charges and deductions		(326,059	)		(332,994	)		(222,574	)		(223,797	)		(192,954	)		(211,519	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(7,824	)		(13,300	)		(2,620	)		(15,411	)		(4,562	)		(9,759	)
Other		4,708			9,943			(2,246	)		116			(152	)		5,995
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(28,109,865	)		(10,007,745	)		(16,072,873	)		(9,205,676	)		2,913,881			(3,894,469	)
NET INCREASE (DECREASE) IN NET ASSETS		(53,470,952	)		24,221,714			(56,759,716	)		36,567,518			(82,921,125	)		21,430,307
NET ASSETS
Beginning of Year		343,506,288			319,284,574			161,408,914			124,841,396			230,161,585			208,731,278
End of Year	$	290,035,336		$	343,506,288		$	104,649,198		$	161,408,914		$	147,240,460		$	230,161,585

See Notes to Financial Statements

SA-44

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Period Ended			Year/Period Ended			Year Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	ESG Diversified						ESG Diversified						ESG Diversified Growth
	Class I (1)						Class P (2)						Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(79,893	)	$	(23,047	)	$	(126	)				$	(4,981	)	$	(206	)
Realized gain (loss) on investments		(98,848	)		(2,665	)		(5	)					(24,785	)		(1,684	)
Change in net unrealized appreciation (depreciation) on investments		(993,570	)		200,851			(9,447	)					(56,417	)		6,196
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,172,311	)		175,139			(9,578	)					(86,183	)		4,306
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,370,687			3,356,231			467,699						629,934			213,900
Transfers between variable and fixed accounts, net		1,853,349			1,351,514			-						57,484			12,256
Contract benefits and terminations		(289,457	)		(13,484	)		(158	)					(12,596	)		(877	)
Contract charges and deductions		(75,385	)		(17,498	)		-						(1,127	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-						-			-
Other		(154	)		(1,805	)		(5	)					815			(5	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		4,859,040			4,674,958			467,536						674,510			225,274
NET INCREASE (DECREASE) IN NET ASSETS		3,686,729			4,850,097			457,958						588,327			229,580
NET ASSETS
Beginning of Year or Period		4,850,097			-			-						229,580			-
End of Year or Period	$	8,536,826		$	4,850,097		$	457,958					$	817,907		$	229,580


	ESG Diversified Growth						PSF Avantis						PSF Avantis
	Class P (2)						Balanced Allocation Class D						Balanced Allocation Class P (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(17	)				$	(3,838,712	)	$	(4,002,041	)	$	(7,155	)	$	(1,236	)
Realized gain (loss) on investments		-						(3,303,567	)		(142,942	)		(22,981	)		179
Change in net unrealized appreciation (depreciation) on investments		808						(50,928,415	)		37,925,370			(204,579	)		14,708
Net Increase (Decrease) in Net Assets Resulting from Operations		791						(58,070,694	)		33,780,387			(234,715	)		13,651
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		11,429						26,098,810			55,952,319			427,288			1,596,972
Transfers between variable and fixed accounts, net		8,400						(9,420,078	)		13,181,173			(6,194	)		-
Contract benefits and terminations		(31	)					(24,443,372	)		(21,223,871	)		(6,649	)		(2,920	)
Contract charges and deductions		-						(3,057,496	)		(2,568,841	)		(630	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						159			157			-			-
Other		(1	)					15,739			(6,466	)		(541	)		(255	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		19,797						(10,806,238	)		45,334,471			413,274			1,593,797
NET INCREASE (DECREASE) IN NET ASSETS		20,588						(68,876,932	)		79,114,858			178,559			1,607,448
NET ASSETS
Beginning of Year or Period		-						366,915,479			287,800,621			1,607,448			-
End of Year or Period	$	20,588					$	298,038,547		$	366,915,479		$	1,786,007		$	1,607,448

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-45

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Pacific Dynamix -						Pacific Dynamix -						Pacific Dynamix -
	Conservative Growth Class I						Conservative Growth Class P (1)						Moderate Growth Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(5,988,002	)	$	(6,950,482	)	$	(6,206	)	$	(98	)	$	(27,975,904	)	$	(31,771,719	)
Realized gain (loss) on investments		10,542,197			9,299,244			(3,655	)		(2	)		44,832,529			22,828,961
Change in net unrealized appreciation (depreciation) on investments		(92,617,207	)		26,255,915			(149,716	)		389			(463,969,066	)		238,347,011
Net Increase (Decrease) in Net Assets Resulting from Operations		(88,063,012	)		28,604,677			(159,577	)		289			(447,112,441	)		229,404,253
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		16,023,767			33,248,614			497,712			78,675			126,050,847			244,225,891
Transfers between variable and fixed accounts, net		359,381			24,620,840			1,214,237			182			8,249,526			40,426,196
Contract benefits and terminations		(51,565,625	)		(74,822,073	)		(15,274	)		(318	)		(222,208,471	)		(285,753,068	)
Contract charges and deductions		(3,531,109	)		(3,393,142	)		(3,650	)		(162	)		(23,036,857	)		(20,984,238	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(311	)		(15,180	)		-			-			1,098			937
Other		1,298			1,444			(23	)		(4	)		(19,786	)		(54,851	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(38,712,599	)		(20,359,497	)		1,693,002			78,373			(110,963,643	)		(22,139,133	)
NET INCREASE (DECREASE) IN NET ASSETS		(126,775,611	)		8,245,180			1,533,425			78,662			(558,076,084	)		207,265,120
NET ASSETS
Beginning of Year or Period		574,372,129			566,126,949			78,662			-			2,700,163,391			2,492,898,271
End of Year or Period	$	447,596,518		$	574,372,129		$	1,612,087		$	78,662		$	2,142,087,307		$	2,700,163,391


	Pacific Dynamix -						Pacific Dynamix -						Pacific Dynamix -
	Moderate Growth Class P (1)						Growth Class I						Growth Class P (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(2,207	)	$	(342	)	$	(18,228,934	)	$	(16,704,444	)	$	(3,073	)	$	(539	)
Realized gain (loss) on investments		(1,630	)		4			(14,230,106	)		(891,469	)		(11,955	)		17
Change in net unrealized appreciation (depreciation) on investments		(38,396	)		2,064			(263,383,583	)		173,221,321			(100,103	)		9,000
Net Increase (Decrease) in Net Assets Resulting from Operations		(42,233	)		1,726			(295,842,623	)		155,625,408			(115,131	)		8,478
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		175,292			186,173			200,460,935			388,570,455			757,392			229,932
Transfers between variable and fixed accounts, net		248,166			-			43,834,560			56,107,340			(52,330	)		(80	)
Contract benefits and terminations		(5,304	)		(423	)		(80,438,271	)		(92,749,065	)		(5,998	)		(1,120	)
Contract charges and deductions		(4,478	)		(579	)		(11,484,064	)		(7,778,676	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(12,269	)		(3,688	)		-			-
Other		(9,277	)		(3	)		39,642			(29,010	)		(742	)		80
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		404,399			185,168			152,400,533			344,117,356			698,322			228,812
NET INCREASE (DECREASE) IN NET ASSETS		362,166			186,894			(143,442,090	)		499,742,764			583,191			237,290
NET ASSETS
Beginning of Year or Period		186,894			-			1,595,184,020			1,095,441,256			237,290			-
End of Year or Period	$	549,060		$	186,894		$	1,451,741,930		$	1,595,184,020		$	820,481		$	237,290

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-46

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Portfolio Optimization						Portfolio Optimization						Portfolio Optimization
	Conservative Class I						Moderate-Conservative Class I						Moderate Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(16,589,995	)	$	(20,725,017	)	$	(23,498,679	)	$	(29,610,713	)	$	(102,665,672	)	$	(128,538,239	)
Realized gain (loss) on investments		34,480,155			64,788,253			89,872,600			113,916,575			419,332,885			566,219,345
Change in net unrealized appreciation (depreciation) on investments		(215,921,424	)		(33,977,961	)		(379,222,664	)		13,257,239			(1,735,145,502	)		214,867,298
Net Increase (Decrease) in Net Assets Resulting from Operations		(198,031,264	)		10,085,275			(312,848,743	)		97,563,101			(1,418,478,289	)		652,548,404
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		29,563,839			31,291,408			23,500,234			34,144,804			81,840,091			131,691,385
Transfers between variable and fixed accounts, net		43,906,031			22,848,851			(7,031,489	)		(7,544,863	)		(56,827,109	)		(21,813,770	)
Contract benefits and terminations		(173,377,967	)		(229,519,048	)		(216,701,733	)		(243,621,378	)		(781,955,009	)		(1,042,393,086	)
Contract charges and deductions		(10,603,306	)		(11,197,704	)		(12,772,043	)		(13,699,391	)		(59,695,635	)		(62,941,147	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(44,515	)		2,089			(9,630	)		(60,190	)		(87,051	)		(182,142	)
Other		38,588			13,074			15,466			22,575			257,464			209,860
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(110,517,330	)		(186,561,330	)		(212,999,195	)		(230,758,443	)		(816,467,249	)		(995,428,900	)
NET INCREASE (DECREASE) IN NET ASSETS		(308,548,594	)		(176,476,055	)		(525,847,938	)		(133,195,342	)		(2,234,945,538	)		(342,880,496	)
NET ASSETS
Beginning of Year		1,358,240,285			1,534,716,340			2,000,947,661			2,134,143,003			8,618,931,342			8,961,811,838
End of Year	$	1,049,691,691		$	1,358,240,285		$	1,475,099,723		$	2,000,947,661		$	6,383,985,804		$	8,618,931,342


	Portfolio Optimization						Portfolio Optimization						Invesco Oppenheimer V.I.
	Growth Class I						Aggressive-Growth Class I						International Growth Series I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(95,908,442	)	$	(118,579,495	)	$	(20,734,129	)	$	(25,473,437	)	$	(66	)	$	(26	)
Realized gain (loss) on investments		374,489,694			531,324,751			77,918,796			114,546,721			2,668			1,768
Change in net unrealized appreciation (depreciation) on investments		(1,654,108,352	)		436,693,617			(365,153,425	)		129,573,944			(7,921	)		(2,572	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,375,527,100	)		849,438,873			(307,968,758	)		218,647,228			(5,319	)		(830	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		59,607,312			107,896,524			11,761,592			17,556,897			-			20,241
Transfers between variable and fixed accounts, net		(53,839,349	)		(48,873,851	)		(4,430,638	)		(3,659,323	)		-			-
Contract benefits and terminations		(579,045,750	)		(834,772,702	)		(119,274,273	)		(173,610,934	)		(76	)		(40	)
Contract charges and deductions		(55,131,733	)		(55,676,404	)		(10,219,651	)		(10,196,333	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		(25,938	)		(22,108	)		2,294			(103,709	)		-			-
Other		122,735			34,685			48,928			36,125			(1	)		1
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(628,312,723	)		(831,413,856	)		(122,111,748	)		(169,977,277	)		(77	)		20,202
NET INCREASE (DECREASE) IN NET ASSETS		(2,003,839,823	)		18,025,017			(430,080,506	)		48,669,951			(5,396	)		19,372
NET ASSETS
Beginning of Year or Period		7,766,098,564			7,748,073,547			1,675,735,514			1,627,065,563			19,372			-
End of Year or Period	$	5,762,258,741		$	7,766,098,564		$	1,245,655,008		$	1,675,735,514		$	13,976		$	19,372

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-47

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year/Period Ended			Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Invesco Oppenheimer V.I.						Invesco V.I. American						Invesco V.I. Balanced-Risk
	International Growth Series II						Value Series I (1)						Allocation Series I (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(198,001	)	$	(238,758	)	$	188					$	9,359		$	675
Realized gain (loss) on investments		2,040,346			1,912,840			7,713						4,225			727
Change in net unrealized appreciation (depreciation) on investments		(8,346,199	)		69,519			(4,454	)					(23,242	)		(660	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(6,503,854	)		1,743,601			3,447						(9,658	)		742
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		667,096			2,690,198			-						106,856			22,636
Transfers between variable and fixed accounts, net		1,150,310			1,946,946			39,448						-			-
Contract benefits and terminations		(1,631,721	)		(1,740,491	)		(455	)					(380	)		(62	)
Contract charges and deductions		(5,993	)		(6,994	)		-						(328	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		(2,613	)		-			-						-			-
Other		3,745			5,284			(1	)					(2	)		(3	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		180,824			2,894,943			38,992						106,146			22,571
NET INCREASE (DECREASE) IN NET ASSETS		(6,323,030	)		4,638,544			42,439						96,488			23,313
NET ASSETS
Beginning of Year or Period		23,274,851			18,636,307			-						23,313			-
End of Year or Period	$	16,951,821		$	23,274,851		$	42,439					$	119,801		$	23,313


	Invesco V.I. Balanced-Risk						Invesco V.I. Discovery						Invesco V.I. Equity and
	Allocation Series II						Mid Cap Growth Series I (2)						Income Series II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	19,482,203		$	5,161,289		$	(236	)	$	(88	)	$	219,707		$	336,510
Realized gain (loss) on investments		6,755,623			10,490,515			19,588			2,828			7,027,146			1,009,251
Change in net unrealized appreciation (depreciation) on investments		(79,689,589	)		8,282,406			(36,364	)		(6	)		(12,715,463	)		7,951,614
Net Increase (Decrease) in Net Assets Resulting from Operations		(53,451,763	)		23,934,210			(17,012	)		2,734			(5,468,610	)		9,297,375
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		15,394,003			21,374,089			69,063			30,799			1,924,960			2,631,199
Transfers between variable and fixed accounts, net		53,864,832			(68,893	)		5,411			(1,695	)		2,304,553			(1,334,985	)
Contract benefits and terminations		(31,486,326	)		(42,379,828	)		(1,542	)		(758	)		(4,999,778	)		(5,406,529	)
Contract charges and deductions		(3,710,266	)		(3,100,845	)		-			-			(91,504	)		(92,633	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			22			84
Other		38,034			2,810			-			60			11,644			91
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		34,100,277			(24,172,667	)		72,932			28,406			(850,103	)		(4,202,773	)
NET INCREASE (DECREASE) IN NET ASSETS		(19,351,486	)		(238,457	)		55,920			31,140			(6,318,713	)		5,094,602
NET ASSETS
Beginning of Year or Period		314,671,401			314,909,858			31,140			-			60,323,270			55,228,668
End of Year or Period	$	295,319,915		$	314,671,401		$	87,060		$	31,140		$	54,004,557		$	60,323,270

(1)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-48

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Period Ended			Year/Period Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Invesco V.I. EQV International						Invesco V.I. Global						Invesco V.I.
	Equity Series I (1)						Real Estate Series II						Global Series II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(30	)				$	125,652		$	132,064		$	(244,070	)	$	(312,828	)
Realized gain (loss) on investments		(6,796	)					(277,466	)		(53,794	)		2,553,200			1,384,657
Change in net unrealized appreciation (depreciation) on investments		-						(2,555,718	)		1,844,386			(11,171,692	)		2,100,444
Net Increase (Decrease) in Net Assets Resulting from Operations		(6,826	)					(2,707,532	)		1,922,656			(8,862,562	)		3,172,273
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		76,804						991,342			1,788,795			869,234			2,348,910
Transfers between variable and fixed accounts, net		(69,966	)					259,062			(99,148	)		450,397			701,963
Contract benefits and terminations		(14	)					(884,808	)		(1,204,844	)		(2,027,880	)		(1,741,435	)
Contract charges and deductions		-						(1,794	)		(1,585	)		(8,050	)		(9,574	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						-			-			43			52
Other		2						(300	)		3,045			4,836			1,276
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		6,826						363,502			486,263			(711,420	)		1,301,192
NET INCREASE (DECREASE) IN NET ASSETS		-						(2,344,030	)		2,408,919			(9,573,982	)		4,473,465
NET ASSETS
Beginning of Year or Period		-						10,349,102			7,940,183			27,219,534			22,746,069
End of Year or Period	$	-					$	8,005,072		$	10,349,102		$	17,645,552		$	27,219,534


	Invesco V.I. Main Street						Invesco V.I. Nasdaq 100 Buffer -						Invesco V.I. Nasdaq 100 Buffer -
	Small Cap Fund Series I (2)						September Series I (3)						September Series II (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	1,125		$	52		$	(319	)				$	(16,442	)	$	(545	)
Realized gain (loss) on investments		31,052			1,718			(190	)					(135,759	)		25
Change in net unrealized appreciation (depreciation) on investments		(36,913	)		(820	)		(12,393	)					(122,816	)		6,534
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,736	)		950			(12,902	)					(275,017	)		6,014
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		137,369			62,535			-						1,370,396			239,644
Transfers between variable and fixed accounts, net		551,387			(159	)		94,278						599,943			240,694
Contract benefits and terminations		(2,303	)		(78	)		(1,356	)					(24,781	)		(2,722	)
Contract charges and deductions		-			-			-						(229	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-						-			-
Other		425			(66	)		13						(5,551	)		(21	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		686,878			62,232			92,935						1,939,778			477,595
NET INCREASE (DECREASE) IN NET ASSETS		682,142			63,182			80,033						1,664,761			483,609
NET ASSETS
Beginning of Year or Period		63,182			-			-						483,609			-
End of Year or Period	$	745,324		$	63,182		$	80,033					$	2,148,370		$	483,609

(1)

Operations commenced or resumed during 2022 and all units were fully redeemed or transferred prior to December 31, 2022 (See Financial Highlights for commencement date of operations and date of full redemption).

(2)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(3)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-49

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Period Ended			Period Ended			Year/Period Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,
	2022			2022			2022			2021
	Invesco V.I. Nasdaq 100 Buffer -			Invesco V.I. Nasdaq 100 Buffer -			Invesco V.I. Nasdaq 100 Buffer -
	December Series I (1)			December Series II (1)			March Series I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(46	)	$	(26,911	)	$	(18	)
Realized gain (loss) on investments		(2	)		(99,077	)		(2	)
Change in net unrealized appreciation (depreciation) on investments		(1,674	)		(469,594	)		(816	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,722	)		(595,582	)		(836	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		-			1,438,091			-
Transfers between variable and fixed accounts, net		13,456			1,772,450			13,194
Contract benefits and terminations		-			(10,916	)		(15	)
Contract charges and deductions		-			(258	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-
Other		(1	)		(584	)		-
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		13,455			3,198,783			13,179
NET INCREASE (DECREASE) IN NET ASSETS		11,733			2,603,201			12,343
NET ASSETS
Beginning of Period		-			-			-
End of Period	$	11,733		$	2,603,201		$	12,343


	Invesco V.I. Nasdaq 100 Buffer -			Invesco V.I. Nasdaq 100 Buffer -			Invesco V.I. S&P 500 Buffer -
	March Series II (1)			June Series II (1)			September Series I (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(8,847	)	$	(15,825	)	$	(1,432	)	$	(11	)
Realized gain (loss) on investments		(9,771	)		(10,701	)		1			508
Change in net unrealized appreciation (depreciation) on investments		(110,445	)		(132,527	)		(15,124	)		(291	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(129,063	)		(159,053	)		(16,555	)		206
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		824,251			345,661			263,931			18,316
Transfers between variable and fixed accounts, net		459,019			2,890,511			121,746			-
Contract benefits and terminations		(3,872	)		(21,403	)		(3,709	)		(26	)
Contract charges and deductions		(18	)		(510	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-
Other		(76	)		(243	)		2			-
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,279,304			3,214,016			381,970			18,290
NET INCREASE (DECREASE) IN NET ASSETS		1,150,241			3,054,963			365,415			18,496
NET ASSETS
Beginning of Year or Period		-			-			18,496			-
End of Year or Period	$	1,150,241		$	3,054,963		$	383,911		$	18,496

(1)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-50

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Period Ended			Year/Period Ended			Period Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022
	Invesco V.I. S&P 500 Buffer -						Invesco V.I. S&P 500 Buffer -						Invesco V.I. S&P 500 Buffer -
	September Series II (1)						December Series II (2)						March Series II (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(92,977	)	$	(3,877	)	$	(81,825	)				$	(80,131	)
Realized gain (loss) on investments		(469,056	)		51,414			(109,693	)					(51,058	)
Change in net unrealized appreciation (depreciation) on investments		219,343			(1,520	)		(619,863	)					(670,574	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(342,690	)		46,017			(811,381	)					(801,763	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		5,348,905			556,125			3,379,911						1,250,893
Transfers between variable and fixed accounts, net		3,244,923			3,706,044			5,788,909						9,043,771
Contract benefits and terminations		(69,494	)		(5,370	)		(90,279	)					(254,621	)
Contract charges and deductions		(216	)		(1,846	)		(1,450	)					(1,378	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-						-
Other		13,930			(173	)		(14,440	)					(14,555	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		8,538,048			4,254,780			9,062,651						10,024,110
NET INCREASE (DECREASE) IN NET ASSETS		8,195,358			4,300,797			8,251,270						9,222,347
NET ASSETS
Beginning of Year or Period		4,300,797			-			-						-
End of Year or Period	$	12,496,155		$	4,300,797		$	8,251,270					$	9,222,347


	Invesco V.I. S&P 500 Buffer -						Invesco V.I.						American Century
	June Series II (2)						Technology Series I (1)						VP Mid Cap Value Class I (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(37,005	)				$	(1,478	)	$	(226	)	$	773
Realized gain (loss) on investments		48,240						89,610			9,215			(17	)
Change in net unrealized appreciation (depreciation) on investments		(32,289	)					(203,839	)		(4,881	)		2,424
Net Increase (Decrease) in Net Assets Resulting from Operations		(21,054	)					(115,707	)		4,108			3,180
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,928,901						245,947			134,340			65,161
Transfers between variable and fixed accounts, net		6,457,004						258,003			-			106,206
Contract benefits and terminations		(60,551	)					(2,106	)		(260	)		(279	)
Contract charges and deductions		(1,449	)					-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						-			-			-
Other		(469	)					(2,658	)		(342	)		(3	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		8,323,436						499,186			133,738			171,085
NET INCREASE (DECREASE) IN NET ASSETS		8,302,382						383,479			137,846			174,265
NET ASSETS
Beginning of Year or Period		-						137,846			-			-
End of Year or Period	$	8,302,382					$	521,325		$	137,846		$	174,265

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-51

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Century						American Funds IS American						American Funds IS Asset
	VP Mid Cap Value Class II						High-Income Trust Class 4						Allocation Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	921,877		$	(152,810	)	$	2,746,390		$	1,275,410		$	45,388		$	18,804
Realized gain (loss) on investments		11,575,875			126,847			(1,271,345	)		(17,893	)		88,201			2,821
Change in net unrealized appreciation (depreciation) on investments		(15,598,095	)		18,105,859			(6,671,401	)		1,542,872			(361,580	)		34,208
Net Increase (Decrease) in Net Assets Resulting from Operations		(3,100,343	)		18,079,896			(5,196,356	)		2,800,389			(227,991	)		55,833
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		6,248,240			8,894,519			4,024,376			6,810,269			1,708,464			1,642,836
Transfers between variable and fixed accounts, net		5,731,873			1,290,173			1,371,071			9,557,080			9,866			(188	)
Contract benefits and terminations		(10,210,967	)		(10,269,523	)		(5,311,489	)		(3,960,562	)		(351,596	)		(6,691	)
Contract charges and deductions		(49,976	)		(37,455	)		(33,548	)		(26,212	)		(12,436	)		(2,412	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(4,112	)		(386	)		-			-			-			-
Other		(25,962	)		12,253			3,476			(1,054	)		76			(63	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,689,096			(110,419	)		53,886			12,379,521			1,354,374			1,633,482
NET INCREASE (DECREASE) IN NET ASSETS		(1,411,247	)		17,969,477			(5,142,470	)		15,179,910			1,126,383			1,689,315
NET ASSETS
Beginning of Year or Period		101,993,283			84,023,806			50,527,382			35,347,472			1,689,315			-
End of Year or Period	$	100,582,036		$	101,993,283		$	45,384,912		$	50,527,382		$	2,815,698		$	1,689,315


	American Funds IS Asset						American Funds IS Capital						American Funds IS Capital
	Allocation Class 4						Income Builder Class 1 (1)						Income Builder Class 4
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	14,330,100		$	3,441,071		$	18,580		$	8,489		$	1,801,385		$	1,734,586
Realized gain (loss) on investments		339,315,419			130,344,737			(2,860	)		(78	)		(835,925	)		25,544
Change in net unrealized appreciation (depreciation) on investments		(951,022,705	)		346,276,705			(58,523	)		13,470			(11,941,544	)		13,090,035
Net Increase (Decrease) in Net Assets Resulting from Operations		(597,377,186	)		480,062,513			(42,803	)		21,881			(10,976,084	)		14,850,165
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		186,733,117			403,507,959			322,039			529,615			8,712,006			12,040,367
Transfers between variable and fixed accounts, net		1,406,950			73,156,268			9,755			723			2,734,930			4,761,241
Contract benefits and terminations		(308,154,749	)		(425,286,625	)		(22,828	)		(4,504	)		(11,789,513	)		(11,079,703	)
Contract charges and deductions		(37,536,242	)		(33,644,558	)		-			-			(153,268	)		(158,005	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(282	)		818			-			-			(549	)		(691	)
Other		39,632			(22,499	)		(2	)		(22	)		569			(4,203	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(157,511,574	)		17,711,363			308,964			525,812			(495,825	)		5,559,006
NET INCREASE (DECREASE) IN NET ASSETS		(754,888,760	)		497,773,876			266,161			547,693			(11,471,909	)		20,409,171
NET ASSETS
Beginning of Year or Period		4,084,199,482			3,586,425,606			547,693			-			129,329,044			108,919,873
End of Year or Period	$	3,329,310,722		$	4,084,199,482		$	813,854		$	547,693		$	117,857,135		$	129,329,044

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-52

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Year Ended			Year Ended			Year Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Funds IS						American Funds IS						American Funds IS Capital World
	Capital World Bond Class 1 (1)						Capital World Bond Class 4						Growth and Income Class 1 (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(156	)				$	(183,856	)	$	137,554		$	2,431		$	631
Realized gain (loss) on investments		491						(387,286	)		454,034			14,202			-
Change in net unrealized appreciation (depreciation) on investments		(14,053	)					(4,409,911	)		(2,008,182	)		(23,192	)		739
Net Increase (Decrease) in Net Assets Resulting from Operations		(13,718	)					(4,981,053	)		(1,416,594	)		(6,559	)		1,370
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		169,847						1,615,973			4,751,087			16,190			45,727
Transfers between variable and fixed accounts, net		-						735,773			4,333,424			76,244			-
Contract benefits and terminations		(10,923	)					(1,723,053	)		(1,978,421	)		(341	)		(88	)
Contract charges and deductions		-						(35,422	)		(29,546	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						(334	)		-			-			-
Other		(8	)					39			(436	)		(2	)		1
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		158,916						592,976			7,076,108			92,091			45,640
NET INCREASE (DECREASE) IN NET ASSETS		145,198						(4,388,077	)		5,659,514			85,532			47,010
NET ASSETS
Beginning of Year or Period		-						25,825,264			20,165,750			47,010			-
End of Year or Period	$	145,198					$	21,437,187		$	25,825,264		$	132,542		$	47,010


	American Funds IS Capital World						American Funds IS						American Funds IS
	Growth and Income Class 4						Global Balanced Class 4						Global Growth Class 1 (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	755,296		$	371,865		$	(778,640	)	$	(200,298	)	$	1,492		$	100
Realized gain (loss) on investments		11,833,356			1,464,401			(1,223,799	)		4,582,900			22,528			(7	)
Change in net unrealized appreciation (depreciation) on investments		(26,973,865	)		6,336,147			(11,623,225	)		2,743,023			(93,014	)		6,636
Net Increase (Decrease) in Net Assets Resulting from Operations		(14,385,213	)		8,172,413			(13,625,664	)		7,125,625			(68,994	)		6,729
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		5,980,241			13,982,012			4,150,080			12,829,414			70,145			228,091
Transfers between variable and fixed accounts, net		(800,763	)		7,637,656			(607,970	)		2,709,174			112,489			(117	)
Contract benefits and terminations		(5,845,848	)		(5,275,462	)		(9,337,040	)		(4,673,728	)		(2,905	)		(1,037	)
Contract charges and deductions		(73,823	)		(63,143	)		(86,721	)		(78,491	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		175			(594	)		14			(722	)		-			-
Other		(6,121	)		(3,896	)		2,130			(917	)		(1	)		(507	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(746,139	)		16,276,573			(5,879,507	)		10,784,730			179,728			226,430
NET INCREASE (DECREASE) IN NET ASSETS		(15,131,352	)		24,448,986			(19,505,171	)		17,910,355			110,734			233,159
NET ASSETS
Beginning of Year or Period		78,541,858			54,092,872			87,287,347			69,376,992			233,159			-
End of Year or Period	$	63,410,506		$	78,541,858		$	67,782,176		$	87,287,347		$	343,893		$	233,159

(1)

Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-53

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Funds IS						American Funds IS Global						American Funds IS
	Global Growth Class 4						Small Capitalization Class 4						Growth Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(950,552	)	$	(1,530,062	)	$	(407,752	)	$	(465,324	)	$	3,680		$	655
Realized gain (loss) on investments		10,727,984			7,980,770			10,801,530			955,957			(153,693	)		(82	)
Change in net unrealized appreciation (depreciation) on investments		(59,296,190	)		16,228,027			(26,092,952	)		1,295,382			(143,492	)		22,045
Net Increase (Decrease) in Net Assets Resulting from Operations		(49,518,758	)		22,678,735			(15,699,174	)		1,786,015			(293,505	)		22,618
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		9,262,145			30,693,904			3,784,975			12,215,139			839,580			433,803
Transfers between variable and fixed accounts, net		2,524,041			2,765,024			3,167,847			1,830,789			997,556			-
Contract benefits and terminations		(9,485,197	)		(14,353,632	)		(2,058,746	)		(2,153,708	)		(15,059	)		(2,382	)
Contract charges and deductions		(134,718	)		(130,274	)		(66,105	)		(62,572	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		186			(1,069	)		(206	)		-			-			-
Other		1,248			10,527			(607	)		3,630			(2,213	)		39
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		2,167,705			18,984,480			4,827,158			11,833,278			1,819,864			431,460
NET INCREASE (DECREASE) IN NET ASSETS		(47,351,053	)		41,663,215			(10,872,016	)		13,619,293			1,526,359			454,078
NET ASSETS
Beginning of Year or Period		191,919,469			150,256,254			49,766,826			36,147,533			454,078			-
End of Year or Period	$	144,568,416		$	191,919,469		$	38,894,810		$	49,766,826		$	1,980,437		$	454,078


	American Funds IS						American Funds IS						American Funds IS
	Growth Class 4						Growth-Income Class 1 (1)						Growth-Income Class 4
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(6,873,601	)	$	(8,502,518	)	$	18,784		$	3,626		$	(540,975	)	$	(1,156,799	)
Realized gain (loss) on investments		70,669,215			93,562,466			103,637			548			39,734,891			4,759,197
Change in net unrealized appreciation (depreciation) on investments		(310,889,074	)		47,132,942			(305,462	)		18,282			(130,274,323	)		88,945,461
Net Increase (Decrease) in Net Assets Resulting from Operations		(247,093,460	)		132,192,890			(183,041	)		22,456			(91,080,407	)		92,547,859
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		42,881,827			98,961,721			1,442,982			449,230			27,749,693			62,287,575
Transfers between variable and fixed accounts, net		11,269,610			(11,852,333	)		11,291			-			(5,183,883	)		5,093,129
Contract benefits and terminations		(56,324,937	)		(65,487,817	)		(44,181	)		(2,372	)		(38,961,711	)		(47,327,558	)
Contract charges and deductions		(585,261	)		(578,904	)		-			-			(433,669	)		(453,295	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		(6,930	)		(9,018	)		-			-			(2,054	)		(466	)
Other		17,148			(13,695	)		(85	)		(6	)		(2,458	)		(625	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(2,748,543	)		21,019,954			1,410,007			446,852			(16,834,082	)		19,598,760
NET INCREASE (DECREASE) IN NET ASSETS		(249,842,003	)		153,212,844			1,226,966			469,308			(107,914,489	)		112,146,619
NET ASSETS
Beginning of Year or Period		802,146,017			648,933,173			469,308			-			518,625,840			406,479,221
End of Year or Period	$	552,304,014		$	802,146,017		$	1,696,274		$	469,308		$	410,711,351		$	518,625,840

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-54

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year/Period Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Funds IS						American Funds IS						American Funds IS International
	International Class 1 (1)						International Class 4						Growth and Income Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	6,040		$	1,600		$	440,748		$	1,418,361		$	8,166		$	2,099
Realized gain (loss) on investments		29,278			(4	)		8,906,645			(77,429	)		43,843			(20	)
Change in net unrealized appreciation (depreciation) on investments		(55,578	)		(3,634	)		(33,391,553	)		(4,541,804	)		(57,737	)		(3,938	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(20,260	)		(2,038	)		(24,044,160	)		(3,200,872	)		(5,728	)		(1,859	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		324,951			61,404			4,822,331			12,961,320			197,209			115,783
Transfers between variable and fixed accounts, net		7,808			1,327			2,772,926			5,825,892			9,677			458
Contract benefits and terminations		(1,182	)		(26	)		(6,675,215	)		(8,233,277	)		(606	)		(240	)
Contract charges and deductions		-			-			(194,637	)		(203,689	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		509			(1	)		4,680			(3,826	)		(6	)		(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		332,086			62,704			730,085			10,346,420			206,274			116,000
NET INCREASE (DECREASE) IN NET ASSETS		311,826			60,666			(23,314,075	)		7,145,548			200,546			114,141
NET ASSETS
Beginning of Year or Period		60,666			-			108,416,162			101,270,614			114,141			-
End of Year or Period	$	372,492		$	60,666		$	85,102,087		$	108,416,162		$	314,687		$	114,141


	American Funds IS International						American Funds IS Managed Risk						American Funds IS Managed Risk
	Growth and Income Class 4						Asset Allocation Class P1 (2)						Asset Allocation Class P2
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	908,999		$	1,051,270		$	2,607		$	(305	)	$	1,630,280		$	168,383
Realized gain (loss) on investments		20,204,178			180,119			(461	)		5,986			4,555,944			(19,769	)
Change in net unrealized appreciation (depreciation) on investments		(31,161,349	)		1,044,096			5,595			-			(35,078,943	)		18,440,302
Net Increase (Decrease) in Net Assets Resulting from Operations		(10,048,172	)		2,275,485			7,741			5,681			(28,892,719	)		18,588,916
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,623,642			6,817,806			151,470			579,121			18,105,945			28,738,797
Transfers between variable and fixed accounts, net		1,413,297			(497,425	)		134,239			(584,273	)		319,322			6,643,745
Contract benefits and terminations		(4,919,115	)		(5,202,418	)		(4,550	)		(522	)		(15,032,750	)		(20,582,779	)
Contract charges and deductions		(51,555	)		(55,587	)		-			-			(2,001,773	)		(1,699,504	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			64			63
Other		(678	)		1,611			(2	)		(7	)		(1,097	)		(10,008	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		65,591			1,063,987			281,157			(5,681	)		1,389,711			13,090,314
NET INCREASE (DECREASE) IN NET ASSETS		(9,982,581	)		3,339,472			288,898			-			(27,503,008	)		31,679,230
NET ASSETS
Beginning of Year or Period		61,908,949			58,569,477			-			-			193,789,068			162,109,838
End of Year or Period	$	51,926,368		$	61,908,949		$	288,898		$	-		$	166,286,060		$	193,789,068

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2)

Operations commenced or resumed during 2021 and all units were fully redeemed or transferred prior to December 31, 2021. Operations resumed during 2022. (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-55

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Funds IS						American Funds IS						American Funds IS The Bond
	New World Fund Class 1 (1)						New World Fund Class 4						Fund of America Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	10,505		$	2,949		$	12,359		$	(339,357	)	$	77,355		$	1,294
Realized gain (loss) on investments		33,419			1,306			3,377,240			2,413,715			(459	)		(3	)
Change in net unrealized appreciation (depreciation) on investments		(225,958	)		(12,616	)		(22,705,148	)		244,273			(288,065	)		(1,567	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(182,034	)		(8,361	)		(19,315,549	)		2,318,631			(211,169	)		(276	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		628,001			428,276			4,636,672			15,022,389			1,050,154			103,034
Transfers between variable and fixed accounts, net		46,898			9,910			3,293,281			4,563,227			2,128,442			-
Contract benefits and terminations		(5,588	)		(422	)		(6,270,718	)		(7,803,538	)		(41,998	)		(78	)
Contract charges and deductions		-			-			(60,358	)		(59,316	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(1,220	)		7			-			-
Other		(9	)		(6	)		509			7,049			(79	)		(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		669,302			437,758			1,598,166			11,729,818			3,136,519			102,955
NET INCREASE (DECREASE) IN NET ASSETS		487,268			429,397			(17,717,383	)		14,048,449			2,925,350			102,679
NET ASSETS
Beginning of Year or Period		429,397			-			82,196,698			68,148,249			102,679			-
End of Year or Period	$	916,665		$	429,397		$	64,479,315		$	82,196,698		$	3,028,029		$	102,679


	American Funds IS The Bond						American Funds IS U.S. Government						American Funds IS U.S. Government
	Fund of America Class 4						Securities Class 1 (1)						Securities Class 4
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	2,447,606		$	440,775		$	27,534		$	505		$	1,452,374		$	(207,902	)
Realized gain (loss) on investments		(1,685,167	)		4,767,512			(3,491	)		-			(4,046,143	)		4,933,144
Change in net unrealized appreciation (depreciation) on investments		(21,566,138	)		(7,169,772	)		(24,209	)		(436	)		(5,860,973	)		(7,071,322	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(20,803,699	)		(1,961,485	)		(166	)		69			(8,454,742	)		(2,346,080	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		11,702,782			36,824,675			796,716			41,100			6,513,829			8,966,617
Transfers between variable and fixed accounts, net		1,588,343			11,092,381			(65,410	)		-			(8,708,805	)		(28,270,380	)
Contract benefits and terminations		(11,772,197	)		(12,588,198	)		(3,589	)		(6	)		(7,797,296	)		(16,834,900	)
Contract charges and deductions		(215,809	)		(168,504	)		-			-			(46,519	)		(50,697	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		13			(643	)		-			-			-			-
Other		6,053			(1,703	)		(93	)		1			6,045			373
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,309,185			35,158,008			727,624			41,095			(10,032,746	)		(36,188,987	)
NET INCREASE (DECREASE) IN NET ASSETS		(19,494,514	)		33,196,523			727,458			41,164			(18,487,488	)		(38,535,067	)
NET ASSETS
Beginning of Year or Period		152,326,203			119,129,680			41,164			-			77,445,532			115,980,599
End of Year or Period	$	132,831,689		$	152,326,203		$	768,622		$	41,164		$	58,958,044		$	77,445,532

(1)

Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-56

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	American Funds IS Washington						American Funds IS Washington						BlackRock 60/40 Target
	Mutual Investors Class 1 (1)						Mutual Investors Class 4						Allocation ETF V.I. Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	12,075		$	1,897		$	1,414,061		$	439,852		$	2,072,883		$	1,737,922
Realized gain (loss) on investments		12,170			20			39,385,154			(54,823	)		(3,885,403	)		12,640,072
Change in net unrealized appreciation (depreciation) on investments		(49,160	)		12,106			(61,407,592	)		40,240,184			(29,515,972	)		353,762
Net Increase (Decrease) in Net Assets Resulting from Operations		(24,915	)		14,023			(20,608,377	)		40,625,213			(31,328,492	)		14,731,756
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		589,844			176,689			16,757,922			27,300,423			43,034,523			60,875,769
Transfers between variable and fixed accounts, net		17,109			-			13,495,072			9,277,155			2,760,885			9,235,399
Contract benefits and terminations		(7,989	)		(1,773	)		(17,575,327	)		(13,811,092	)		(11,343,755	)		(8,313,155	)
Contract charges and deductions		-			-			(192,452	)		(149,588	)		(36,175	)		(25,594	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			204			(1,073	)		-			-
Other		(8	)		(3	)		6,953			(19,913	)		11,713			(5,401	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		598,956			174,913			12,492,372			22,595,912			34,427,191			61,767,018
NET INCREASE (DECREASE) IN NET ASSETS		574,041			188,936			(8,116,005	)		63,221,125			3,098,699			76,498,774
NET ASSETS
Beginning of Year or Period		188,936			-			208,192,004			144,970,879			187,350,089			110,851,315
End of Year or Period	$	762,977		$	188,936		$	200,075,999		$	208,192,004		$	190,448,788		$	187,350,089


	BlackRock Capital Appreciation						BlackRock Equity Dividend						BlackRock Global Allocation
	V.I. Class III						V.I. Class I (1)						V.I. Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(285,410	)	$	(352,172	)	$	7,620		$	537		$	(2,562	)	$	71
Realized gain (loss) on investments		1,088,606			8,904,414			29,036			40,215			2,175			3,096
Change in net unrealized appreciation (depreciation) on investments		(18,382,194	)		(813,138	)		(27,709	)		(33,614	)		(46,485	)		(3,320	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(17,578,998	)		7,739,104			8,947			7,138			(46,872	)		(153	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,212,672			3,417,395			559,371			353,351			1,093,678			25,600
Transfers between variable and fixed accounts, net		6,734,786			(2,836,187	)		(157,215	)		-			3,450			261
Contract benefits and terminations		(2,861,001	)		(5,088,819	)		(4,987	)		(243	)		(7,472	)		(139	)
Contract charges and deductions		(309,834	)		(317,488	)		-			-			(4,880	)		(81	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(5,726	)		531			2,172			(6	)		(20	)		-
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		4,770,897			(4,824,568	)		399,341			353,102			1,084,756			25,641
NET INCREASE (DECREASE) IN NET ASSETS		(12,808,101	)		2,914,536			408,288			360,240			1,037,884			25,488
NET ASSETS
Beginning of Year or Period		43,998,422			41,083,886			360,240			-			25,488			-
End of Year or Period	$	31,190,321		$	43,998,422		$	768,528		$	360,240		$	1,063,372		$	25,488

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-57

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	BlackRock Global Allocation						BlackRock High Yield						BlackRock S&P 500 Index
	V.I. Class III						V.I. Class I (1)						V.I. Class I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(17,390,599	)	$	(8,285,523	)	$	11,361		$	2,037		$	11,150		$	2,229
Realized gain (loss) on investments		(8,096,804	)		267,341,474			(16,933	)		335			(24,744	)		11,122
Change in net unrealized appreciation (depreciation) on investments		(241,657,776	)		(179,483,530	)		(15,840	)		(630	)		(63,825	)		879
Net Increase (Decrease) in Net Assets Resulting from Operations		(267,145,179	)		79,572,421			(21,412	)		1,742			(77,419	)		14,230
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		40,921,612			105,021,772			596,134			163,960			737,109			163,611
Transfers between variable and fixed accounts, net		(15,539,160	)		10,646,745			(127,225	)		264			50,027			37,807
Contract benefits and terminations		(138,595,608	)		(200,811,543	)		(5,438	)		(2,435	)		(3,308	)		(461	)
Contract charges and deductions		(15,315,158	)		(15,322,368	)		-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		(24,126	)		(11,684	)		-			-			-			-
Other		73,618			30,335			76			(40	)		(56	)		(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(128,478,822	)		(100,446,743	)		463,547			161,749			783,772			200,956
NET INCREASE (DECREASE) IN NET ASSETS		(395,624,001	)		(20,874,322	)		442,135			163,491			706,353			215,186
NET ASSETS
Beginning of Year or Period		1,587,846,702			1,608,721,024			163,491			-			215,186			-
End of Year or Period	$	1,192,222,701		$	1,587,846,702		$	605,626		$	163,491		$	921,539		$	215,186


	BlackRock Small Cap Index						BlackRock Total Return						Delaware Ivy VIP
	V.I. Class I (1)						V.I. Class I (1)						Asset Strategy Class II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	35,531		$	3,282		$	9,109		$	14		$	98,331		$	94,466
Realized gain (loss) on investments		10,047			36,984			(450	)		9			796,170			1,881,504
Change in net unrealized appreciation (depreciation) on investments		(383,874	)		(39,604	)		(35,014	)		(30	)		(3,875,035	)		(606,550	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(338,296	)		662			(26,355	)		(7	)		(2,980,534	)		1,369,420
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		2,921,003			394,246			993,117			58,007			4,486,090			4,528,533
Transfers between variable and fixed accounts, net		514,797			33,714			64,616			-			(103,517	)		2,319,354
Contract benefits and terminations		(17,435	)		(575	)		(3,272	)		-			(1,880,667	)		(2,855,745	)
Contract charges and deductions		-			-			-			-			(90,316	)		(22,005	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(632	)		(951	)		(11	)		74			366			(66	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		3,417,733			426,434			1,054,450			58,081			2,411,956			3,970,071
NET INCREASE (DECREASE) IN NET ASSETS		3,079,437			427,096			1,028,095			58,074			(568,578	)		5,339,491
NET ASSETS
Beginning of Year or Period		427,096			-			58,074			-			19,824,061			14,484,570
End of Year or Period	$	3,506,533		$	427,096		$	1,086,169		$	58,074		$	19,255,483		$	19,824,061

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-58

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Delaware Ivy VIP						DFA VA Equity Allocation						DFA VA Global Bond
	Energy Class II						Institutional Class (1)						Institutional Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	1,016,002		$	100,237		$	1,996		$	2,523		$	4,718		$	1,946
Realized gain (loss) on investments		327,287			85,682			954			6,531			(10,685	)		21
Change in net unrealized appreciation (depreciation) on investments		18,128,436			8,226,892			(26,987	)		(3,390	)		(19,722	)		(7,112	)
Net Increase (Decrease) in Net Assets Resulting from Operations		19,471,725			8,412,811			(24,037	)		5,664			(25,689	)		(5,145	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		4,148,692			3,088,876			52,261			132,460			214,040			316,020
Transfers between variable and fixed accounts, net		6,266,718			9,418,994			(4,687	)		-			(114,410	)		24,636
Contract benefits and terminations		(4,624,413	)		(2,991,958	)		(11,465	)		(269	)		(2,738	)		(286	)
Contract charges and deductions		(28,999	)		(8,443	)		-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(2,053	)		2,208			-			(2	)		-			(6	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		5,759,945			9,509,677			36,109			132,189			96,892			340,364
NET INCREASE (DECREASE) IN NET ASSETS		25,231,670			17,922,488			12,072			137,853			71,203			335,219
NET ASSETS
Beginning of Year or Period		37,055,143			19,132,655			137,853			-			335,219			-
End of Year or Period	$	62,286,813		$	37,055,143		$	149,925		$	137,853		$	406,422		$	335,219


	DFA VA Global Moderate						DFA VA International Small						DFA VA International Value
	Allocation Institutional Class (1)						Institutional Class (1)						Institutional Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	4,556		$	2,218		$	7,740		$	4,275		$	47,202		$	25,542
Realized gain (loss) on investments		3,735			5,616			1,920			12,154			7,213			(92	)
Change in net unrealized appreciation (depreciation) on investments		(29,515	)		(3,735	)		(36,937	)		(17,263	)		(50,703	)		(22,958	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(21,224	)		4,099			(27,277	)		(834	)		3,712			2,492
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		44,528			173,466			163,010			181,783			516,974			730,459
Transfers between variable and fixed accounts, net		173,985			-			18,256			1,055			95,121			28,028
Contract benefits and terminations		(6,663	)		(354	)		(1,558	)		(1,576	)		(7,104	)		(3,242	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(6	)		(4	)		(6	)		(42	)		19			(207	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		211,844			173,108			179,702			181,220			605,010			755,038
NET INCREASE (DECREASE) IN NET ASSETS		190,620			177,207			152,425			180,386			608,722			757,530
NET ASSETS
Beginning of Year or Period		177,207			-			180,386			-			757,530			-
End of Year or Period	$	367,827		$	177,207		$	332,811		$	180,386		$	1,366,252		$	757,530

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-59

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Period Ended			Year Ended			Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	DFA VA Short-Term Fixed						DFA VA US Large Value						DFA VA US Targeted Value
	Institutional Class (1)						Institutional Class (1)						Institutional Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	23,114		$	(545	)	$	37,243		$	5,498		$	8,199		$	5,939
Realized gain (loss) on investments		(8,414	)		(3	)		5,462			(233	)		50,123			33,780
Change in net unrealized appreciation (depreciation) on investments		(23,736	)		(822	)		(58,365	)		13,512			(77,829	)		(14,870	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(9,036	)		(1,370	)		(15,660	)		18,777			(19,507	)		24,849
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,681,616			436,430			2,115,763			397,425			469,894			527,116
Transfers between variable and fixed accounts, net		358,668			3,024			349,302			(3,609	)		7,284			(7,716	)
Contract benefits and terminations		(49,405	)		(3,407	)		(19,940	)		(4,331	)		(51,201	)		(3,864	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(104	)		(9	)		(2,428	)		-			61			(673	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,990,775			436,038			2,442,697			389,485			426,038			514,863
NET INCREASE (DECREASE) IN NET ASSETS		1,981,739			434,668			2,427,037			408,262			406,531			539,712
NET ASSETS
Beginning of Year or Period		434,668			-			408,262			-			539,712			-
End of Year or Period	$	2,416,407		$	434,668		$	2,835,299		$	408,262		$	946,243		$	539,712


	Fidelity VIP Consumer Discretionary						Fidelity VIP Contrafund						Fidelity VIP Contrafund
	Initial Class (2)						Initial Class (1)						Service Class 2
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	-					$	764		$	(186	)	$	(2,740,741	)	$	(3,942,807	)
Realized gain (loss) on investments		-						5,551			8,152			6,396,872			43,098,988
Change in net unrealized appreciation (depreciation) on investments		43						(80,841	)		(271	)		(106,541,917	)		38,424,000
Net Increase (Decrease) in Net Assets Resulting from Operations		43						(74,526	)		7,695			(102,885,786	)		77,580,181
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,733						310,289			121,580			22,043,576			39,720,518
Transfers between variable and fixed accounts, net		-						9,730			(241	)		7,219,145			3,366,686
Contract benefits and terminations		-						(1,785	)		(143	)		(31,458,257	)		(32,684,550	)
Contract charges and deductions		-						-			-			(190,869	)		(188,492	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						-			-			(2,536	)		(6,003	)
Other		-						(5	)		(3	)		11,458			10,966
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		3,733						318,229			121,193			(2,377,483	)		10,219,125
NET INCREASE (DECREASE) IN NET ASSETS		3,776						243,703			128,888			(105,263,269	)		87,799,306
NET ASSETS
Beginning of Year or Period		-						128,888			-			381,230,239			293,430,933
End of Year or Period	$	3,776					$	372,591		$	128,888		$	275,966,970		$	381,230,239

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-60

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Period Ended			Year Ended			Year/Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Fidelity VIP Emerging Markets						Fidelity VIP Energy						Fidelity VIP Extended Market Index
	Initial Class (1)						Initial Class (1)						Initial Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	8,652		$	2,263		$	10,590		$	1,084		$	13,317		$	8,016
Realized gain (loss) on investments		(27,202	)		8,890			(9,767	)		21			(9,430	)		36,152
Change in net unrealized appreciation (depreciation) on investments		(5,239	)		(18,210	)		119,980			7,253			(201,807	)		(36,898	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(23,789	)		(7,057	)		120,803			8,358			(197,920	)		7,270
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		372,858			127,767			413,014			63,981			871,072			730,645
Transfers between variable and fixed accounts, net		99,228			8,253			119,646			-			(24,738	)		10,295
Contract benefits and terminations		(4,416	)		(1,509	)		(6,567	)		(212	)		(8,985	)		(7,398	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		331			125			2,413			(2	)		(7	)		(133	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		468,001			134,636			528,506			63,767			837,342			733,409
NET INCREASE (DECREASE) IN NET ASSETS		444,212			127,579			649,309			72,125			639,422			740,679
NET ASSETS
Beginning of Year or Period		127,579			-			72,125			-			740,679			-
End of Year or Period	$	571,791		$	127,579		$	721,434		$	72,125		$	1,380,101		$	740,679


	Fidelity VIP Funds Manager 60%						Fidelity VIP FundsManager 60%						Fidelity VIP Government
	Investor Class (2)						Service Class 2						Money Market Initial Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	75,419					$	1,679,644		$	(1,170,458	)	$	125,871		$	(568	)
Realized gain (loss) on investments		(4	)					57,507,087			6,320,493			-			-
Change in net unrealized appreciation (depreciation) on investments		(90,131	)					(131,006,601	)		35,602,756			-			-
Net Increase (Decrease) in Net Assets Resulting from Operations		(14,716	)					(71,819,870	)		40,752,791			125,871			(568	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		5,287,243						36,891,618			59,036,975			27,738,642			896,083
Transfers between variable and fixed accounts, net		-						7,521,607			11,419,282			(11,690,191	)		(471,934	)
Contract benefits and terminations		-						(30,244,651	)		(37,351,214	)		(750,187	)		(603	)
Contract charges and deductions		-						(4,905,423	)		(4,089,258	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-						1,135			927			-			-
Other		(6,510	)					42,004			(8,826	)		(328	)		(8	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		5,280,733						9,306,290			29,007,886			15,297,936			423,538
NET INCREASE (DECREASE) IN NET ASSETS		5,266,017						(62,513,580	)		69,760,677			15,423,807			422,970
NET ASSETS
Beginning of Year or Period		-						434,687,452			364,926,775			422,970			-
End of Year or Period	$	5,266,017					$	372,173,872		$	434,687,452		$	15,846,777		$	422,970

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-61

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Fidelity VIP Government						Fidelity VIP Growth						Fidelity VIP
	Money Market Service Class						Opportunities Initial Class (1)						Index 500 Initial Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	1,159,958		$	(5,140,302	)	$	(717	)	$	(68	)	$	16,964		$	634
Realized gain (loss) on investments		-			-			(2,547	)		967			(75,018	)		89
Change in net unrealized appreciation (depreciation) on investments		-			-			(48,775	)		(3,245	)		(122,060	)		5,327
Net Increase (Decrease) in Net Assets Resulting from Operations		1,159,958			(5,140,302	)		(52,039	)		(2,346	)		(180,114	)		6,050
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		61,051,353			90,071,546			316,326			40,092			1,885,650			75,268
Transfers between variable and fixed accounts, net		266,030,404			30,092,495			45,296			1,246			1,271,992			(553	)
Contract benefits and terminations		(216,256,215	)		(206,464,906	)		(1,454	)		(93	)		(60,895	)		(163	)
Contract charges and deductions		(517,082	)		(456,983	)		-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		(15,717	)		(9,324	)		-			-			-			-
Other		(7,195	)		11,992			2,471			(1	)		(4,186	)		(8	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		110,285,548			(86,755,180	)		362,639			41,244			3,092,561			74,544
NET INCREASE (DECREASE) IN NET ASSETS		111,445,506			(91,895,482	)		310,600			38,898			2,912,447			80,594
NET ASSETS
Beginning of Year or Period		390,780,434			482,675,916			38,898			-			80,594			-
End of Year or Period	$	502,225,940		$	390,780,434		$	349,498		$	38,898		$	2,993,041		$	80,594


	Fidelity VIP Investment						Fidelity VIP Strategic Income						Fidelity VIP Value
	Grade Bond Initial Class (1)						Service Class 2						Strategies Initial Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	22,681		$	752		$	1,940,972		$	1,270,548		$	4,652		$	1,857
Realized gain (loss) on investments		2,686			801			(1,780,036	)		1,476,834			21,840			12,722
Change in net unrealized appreciation (depreciation) on investments		(74,271	)		(2,062	)		(12,424,733	)		(604,309	)		(45,787	)		(7,096	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(48,904	)		(509	)		(12,263,797	)		2,143,073			(19,295	)		7,483
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,028,082			69,179			9,424,359			19,418,750			118,807			160,379
Transfers between variable and fixed accounts, net		205,879			(733	)		(6,491,184	)		1,919,730			355,104			(283	)
Contract benefits and terminations		(2,464	)		(108	)		(8,915,195	)		(11,209,277	)		(10,384	)		(4,692	)
Contract charges and deductions		-			-			(38,083	)		(33,003	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		223			(1	)		(207	)		(1,247	)		(19	)		(2	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,231,720			68,337			(6,020,310	)		10,094,953			463,508			155,402
NET INCREASE (DECREASE) IN NET ASSETS		1,182,816			67,828			(18,284,107	)		12,238,026			444,213			162,885
NET ASSETS
Beginning of Year or Period		67,828			-			99,315,045			87,077,019			162,885			-
End of Year or Period	$	1,250,644		$	67,828		$	81,030,938		$	99,315,045		$	607,098		$	162,885

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-62

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	First Trust Dorsey Wright						First Trust						First Trust/Dow Jones
	Tactical Core Class I						Multi Income Allocation Class I						Dividend & Income Allocation Class I
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	115,473		$	(377,993	)	$	320,014		$	215,549		$	842,051		$	(2,426,902	)
Realized gain (loss) on investments		4,057,775			1,192,705			116,467			(2,375	)		75,458,468			9,327,186
Change in net unrealized appreciation(depreciation) on investments		(12,333,323	)		3,938,875			(2,277,808	)		1,829,400			(169,236,499	)		62,750,167
Net Increase (Decrease) in Net Assets Resulting from Operations		(8,160,075	)		4,753,587			(1,841,327	)		2,042,574			(92,935,980	)		69,650,451
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,197,639			7,954,131			1,350,866			3,495,638			38,708,392			53,458,085
Transfers between variable and fixed accounts, net		(7,235,730	)		4,297,535			(581,777	)		180,648			9,629,901			(6,593,280	)
Contract benefits and terminations		(4,081,357	)		(3,632,109	)		(2,360,774	)		(1,862,598	)		(56,616,397	)		(71,273,848	)
Contract charges and deductions		(4,061	)		(5,253	)		(907	)		(772	)		(6,982,458	)		(6,440,595	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			8			8			1,009			880
Other		1,885			(4,101	)		6,567			(127	)		47,827			3,496
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(8,121,624	)		8,610,203			(1,586,017	)		1,812,797			(15,211,726	)		(30,845,262	)
NET INCREASE (DECREASE) IN NET ASSETS		(16,281,699	)		13,363,790			(3,427,344	)		3,855,371			(108,147,706	)		38,805,189
NET ASSETS
Beginning of Year		49,725,811			36,362,021			21,222,052			17,366,681			701,796,584			662,991,395
End of Year	$	33,444,112		$	49,725,811		$	17,794,708		$	21,222,052		$	593,648,878		$	701,796,584


	Franklin						Franklin						Franklin Income
	Allocation VIP Class 2						Allocation VIP Class 4						VIP Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	187,081		$	244,254		$	222,756		$	465,124		$	7,937
Realized gain (loss) on investments		1,231,373			(633,771	)		14,162,975			(4,208,627	)		2,007
Change in net unrealized appreciation (depreciation) on investments		(5,987,221	)		3,137,370			(62,079,987	)		29,824,286			(12,255	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,568,767	)		2,747,853			(47,694,256	)		26,080,783			(2,311	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		507,037			1,075,958			11,761,549			13,181,771			182,824
Transfers between variable and fixed accounts, net		22,636			212,059			4,616,109			1,598,115			62,683
Contract benefits and terminations		(2,060,672	)		(2,162,643	)		(24,187,995	)		(30,312,579	)		(1,199	)
Contract charges and deductions		(87,182	)		(98,684	)		(2,347,750	)		(2,261,831	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		11			(582	)		(1,083	)		235			-
Other		183			628			3,135			73			(4	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(1,617,987	)		(973,264	)		(10,156,035	)		(17,794,216	)		244,304
NET INCREASE (DECREASE) IN NET ASSETS		(6,186,754	)		1,774,589			(57,850,291	)		8,286,567			241,993
NET ASSETS
Beginning of Year or Period		27,644,825			25,870,236			277,311,223			269,024,656			-
End of Year or Period	$	21,458,071		$	27,644,825		$	219,460,932		$	277,311,223		$	241,993

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-63

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022

	Franklin Income						Franklin Mutual Global						Franklin Mutual
	VIP Class 2						Discovery VIP Class 2						Shares VIP Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	2,267,019		$	1,945,667		$	646,374		$	3,048,155		$	1,058
Realized gain (loss) on investments		319,516			129,539			11,297,966			(3,173,707	)		5,911
Change in net unrealized appreciation (depreciation) on investments		(6,593,337	)		5,885,867			(22,001,083	)		31,629,770			(7,337	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,006,802	)		7,961,073			(10,056,743	)		31,504,218			(368	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,667,206			2,544,901			2,688,584			4,400,029			55,816
Transfers between variable and fixed accounts, net		12,724,169			(44,115	)		(10,413,139	)		(15,775,062	)		(995	)
Contract benefits and terminations		(7,701,433	)		(8,484,894	)		(15,366,260	)		(23,502,082	)		(328	)
Contract charges and deductions		(9,170	)		(7,220	)		(840,521	)		(938,792	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(2,019	)		(556	)		-
Other		4,830			1,145			(4,668	)		(825	)		(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		8,685,602			(5,990,183	)		(23,938,023	)		(35,817,288	)		54,492
NET INCREASE (DECREASE) IN NET ASSETS		4,678,800			1,970,890			(33,994,766	)		(4,313,070	)		54,124
NET ASSETS
Beginning of Year or Period		55,940,034			53,969,144			184,263,585			188,576,655			-
End of Year or Period	$	60,618,834		$	55,940,034		$	150,268,819		$	184,263,585		$	54,124


	Franklin Rising						Franklin Rising						Franklin Small Cap
	Dividends VIP Class 1 (2)						Dividends VIP Class 2						Value VIP Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	3,127		$	186		$	(759,677	)	$	(714,328	)	$	356
Realized gain (loss) on investments		15,813			1,297			28,419,860			8,229,545			9,153
Change in net unrealized appreciation (depreciation) on investments		(31,344	)		9,013			(58,505,428	)		45,634,729			(11,648	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(12,404	)		10,496			(30,845,245	)		53,149,946			(2,139	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		657,499			83,469			13,745,992			22,596,164			131,117
Transfers between variable and fixed accounts, net		150,569			-			(252,722	)		315,618			4,955
Contract benefits and terminations		(34,359	)		(887	)		(25,207,844	)		(24,296,038	)		(301	)
Contract charges and deductions		-			-			(184,531	)		(172,322	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(7,989	)		(17,925	)		-
Other		(27	)		(3	)		(5,601	)		(18,593	)		(2	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		773,682			82,579			(11,912,695	)		(1,593,096	)		135,769
NET INCREASE (DECREASE) IN NET ASSETS		761,278			93,075			(42,757,940	)		51,556,850			133,630
NET ASSETS
Beginning of Year or Period		93,075			-			264,342,579			212,785,729			-
End of Year or Period	$	854,353		$	93,075		$	221,584,639		$	264,342,579		$	133,630

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-64

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year Ended			Year/Period Ended			Year/Period Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Franklin						Franklin						Templeton
	Small-Mid Cap Growth VIP Class 1 (1)						Strategic Income VIP Class 1 (1)						Foreign VIP Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(964	)	$	(120	)	$	5,816		$	-		$	834		$	(28	)
Realized gain (loss) on investments		32,502			(13	)		(124	)		-			(273	)		(2	)
Change in net unrealized appreciation (depreciation) on investments		(77,131	)		(2,398	)		(18,834	)		-			(3,117	)		(1,353	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(45,593	)		(2,531	)		(13,142	)		-			(2,556	)		(1,383	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		247,480			81,086			283,562			34,804			-			32,764
Transfers between variable and fixed accounts, net		90,800			74			-			-			(613	)		-
Contract benefits and terminations		(1,672	)		(236	)		(205	)		-			(137	)		(32	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(718	)		-			(3	)		32			-			(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		335,890			80,924			283,354			34,836			(750	)		32,731
NET INCREASE (DECREASE) IN NET ASSETS		290,297			78,393			270,212			34,836			(3,306	)		31,348
NET ASSETS
Beginning of Year or Period		78,393			-			34,836			-			31,348			-
End of Year or Period	$	368,690		$	78,393		$	305,048		$	34,836		$	28,042		$	31,348


	Templeton						Templeton						Goldman Sachs VIT Large Cap
	Global Bond VIP Class 1 (1)						Global Bond VIP Class 2						Value Institutional Shares (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(386	)	$	(126	)	$	(732,899	)	$	(866,868	)	$	619
Realized gain (loss) on investments		(468	)		(29	)		(3,699,040	)		(3,230,059	)		5,637
Change in net unrealized appreciation (depreciation) on investments		(2,749	)		(1,218	)		173,369			(624,224	)		(4,127	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(3,603	)		(1,373	)		(4,258,570	)		(4,721,151	)		2,129
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		56,011			30,699			1,894,384			4,072,490			17,302
Transfers between variable and fixed accounts, net		(2,192	)		29,791			(2,898,335	)		6,554,894			39,448
Contract benefits and terminations		(1,838	)		(817	)		(7,428,157	)		(11,594,557	)		(469	)
Contract charges and deductions		-			-			(84,932	)		(87,596	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(1,513	)		(2,620	)		-
Other		(4	)		58			(77	)		796			(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		51,977			59,731			(8,518,630	)		(1,056,593	)		56,280
NET INCREASE (DECREASE) IN NET ASSETS		48,374			58,358			(12,777,200	)		(5,777,744	)		58,409
NET ASSETS
Beginning of Year or Period		58,358			-			71,643,504			77,421,248			-
End of Year or Period	$	106,732		$	58,358		$	58,866,304		$	71,643,504		$	58,409

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-65

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year/Period Ended		Year Ended		Year/Period Ended		Period Ended
	December 31,			December 31,			December 31,		December 31,		December 31,		December 31,
	2022			2021			2022		2021		2022		2021
	Goldman Sachs VIT Mid Cap						Goldman Sachs VIT Strategic				Goldman Sachs VIT Trends Driven
	Value Institutional Shares (1)						Growth Institutional Shares (2)				Allocation Institutional Shares (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	520		$	264		$	(307		)	$	(1,092		)
Realized gain (loss) on investments		29,455			14,711			20,180				7,743
Change in net unrealized appreciation (depreciation) on investments		(51,598	)		(2,757	)		(27,976		)		(40,959		)
Net Increase (Decrease) in Net Assets Resulting from Operations		(21,623	)		12,218			(8,103		)		(34,308		)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		102,197			102,701			111,632				296,816
Transfers between variable and fixed accounts, net		-			-			1,341				-
Contract benefits and terminations		(792	)		(387	)		(656		)		(26,709		)
Contract charges and deductions		-			-			-				-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-				-
Other		-			(3	)		(4		)		(19		)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		101,405			102,311			112,313				270,088
NET INCREASE (DECREASE) IN NET ASSETS		79,782			114,529			104,210				235,780
NET ASSETS
Beginning of Year or Period		114,529			-			-				-
End of Year or Period	$	194,311		$	114,529		$	104,210			$	235,780

	Janus Henderson						Janus Henderson						Janus Henderson
	Balanced Institutional Shares (1)						Balanced Service Shares						Enterprise Institutional Shares (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	18,139		$	7,634		$	(6,486,195	)	$	(27,523,027	)	$	(538	)	$	(7	)
Realized gain (loss) on investments		16,013			6,149			98,463,607			34,365,006			(5,274	)		-
Change in net unrealized appreciation (depreciation) on investments		(375,258	)		123,146			(1,138,781,797	)		712,430,398			10,685			42
Net Increase (Decrease) in Net Assets Resulting from Operations		(341,106	)		136,929			(1,046,804,385	)		719,272,377			4,873			35
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,016,417			1,747,891			622,045,607			1,145,367,317			66,869			11,880
Transfers between variable and fixed accounts, net		(62,761	)		-			95,359,479			199,853,981			516,973			-
Contract benefits and terminations		(171,373	)		(11,808	)		(386,696,316	)		(454,007,344	)		(1,877	)		-
Contract charges and deductions		(3,021	)		(469	)		(55,639,431	)		(42,186,897	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(4,148	)		(21,436	)		-			-
Other		(1,777	)		550			198,422			(52,952	)		955			(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		777,485			1,736,164			275,263,613			848,952,669			582,920			11,879
NET INCREASE (DECREASE) IN NET ASSETS		436,379			1,873,093			(771,540,772	)		1,568,225,046			587,793			11,914
NET ASSETS
Beginning of Year or Period		1,873,093			-			5,810,489,351			4,242,264,305			11,914			-
End of Year or Period	$	2,309,472		$	1,873,093		$	5,038,948,579		$	5,810,489,351		$	599,707		$	11,914

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-66

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Janus Henderson						JPMorgan Insurance Trust						JPMorgan Insurance Trust
	Flexible Bond Service Shares						Core Bond Class 1						Global Allocation Class 2
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	240,765		$	152,095		$	892		$	783		$	31,257		$	(47,701	)
Realized gain (loss) on investments		(275,975	)		765,938			(661	)		2,451			618,049			576,405
Change in net unrealized appreciation (depreciation) on investments		(5,437,202	)		(1,840,938	)		(23,938	)		(8,022	)		(3,246,090	)		531,091
Net Increase (Decrease) in Net Assets Resulting from Operations		(5,472,412	)		(922,905	)		(23,707	)		(4,788	)		(2,596,784	)		1,059,795
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		2,142,702			5,949,144			4,079			4,733			259,990			1,267,193
Transfers between variable and fixed accounts, net		(1,992,512	)		350,078			39,951			-			442,869			1,167,952
Contract benefits and terminations		(3,370,861	)		(6,229,930	)		(21,332	)		(771	)		(1,532,576	)		(2,472,892	)
Contract charges and deductions		(7,778	)		(12,728	)		(66	)		(91	)		(1,215	)		(2,504	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		30			31			-			-			-			-
Other		1,031			(1,862	)		(4	)		-			(315	)		(93	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(3,227,388	)		54,733			22,628			3,871			(831,247	)		(40,344	)
NET INCREASE (DECREASE) IN NET ASSETS		(8,699,800	)		(868,172	)		(1,079	)		(917	)		(3,428,031	)		1,019,451
NET ASSETS
Beginning of Year		38,644,273			39,512,445			173,997			174,914			14,092,258			13,072,807
End of Year	$	29,944,473		$	38,644,273		$	172,918		$	173,997		$	10,664,227		$	14,092,258


	JPMorgan Insurance Trust						JPMorgan Insurance Trust						JPMorgan Insurance Trust
	Income Builder Class 2						Mid Cap Value Class 1						U.S. Equity Class 1
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	316,581		$	223,813		$	(841	)	$	(616	)	$	(214	)	$	(178	)
Realized gain (loss) on investments		263,168			65,337			15,790			5,807			8,625			1,236
Change in net unrealized appreciation (depreciation) on investments		(2,558,081	)		726,489			(20,574	)		21,867			(13,242	)		5,438
Net Increase (Decrease) in Net Assets Resulting from Operations		(1,978,332	)		1,015,639			(5,625	)		27,058			(4,831	)		6,496
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		133,778			398,871			-			-			-			-
Transfers between variable and fixed accounts, net		(504,659	)		1,062,799			423,422			-			(11,607	)		-
Contract benefits and terminations		(1,425,847	)		(1,377,195	)		(1,585	)		(115	)		(126	)		(130	)
Contract charges and deductions		(2,452	)		(2,332	)		(29	)		(28	)		(31	)		(31	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(23,447	)		1			480			-			1			(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(1,822,627	)		82,144			422,288			(143	)		(11,763	)		(162	)
NET INCREASE (DECREASE) IN NET ASSETS		(3,800,959	)		1,097,783			416,663			26,915			(16,594	)		6,334
NET ASSETS
Beginning of Year		15,313,348			14,215,565			123,458			96,543			29,969			23,635
End of Year	$	11,512,389		$	15,313,348		$	540,121		$	123,458		$	13,375		$	29,969

See Notes to Financial Statements

SA-67

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year Ended			Year Ended			Period Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	ClearBridge Variable						Western Asset Core						Lord Abbett
	Aggressive Growth - Class II						Plus VIT Class I (1)						Bond Debenture Class VC
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(138,931	)	$	(152,119	)	$	22,751		$	14,091		$	4,818,885		$	3,392,786
Realized gain (loss) on investments		908,692			4,294,698			(7,305	)		(649	)		(3,095,839	)		2,572,425
Change in net unrealized appreciation (depreciation) on investments		(4,897,104	)		(2,807,033	)		(175,486	)		(17,519	)		(24,516,727	)		(3,056,927	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(4,127,343	)		1,335,546			(160,040	)		(4,077	)		(22,793,681	)		2,908,284
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		507,634			3,031,353			730,959			623,155			10,256,273			27,718,778
Transfers between variable and fixed accounts, net		790,774			(3,146,842	)		225,387			3,388			(3,835,173	)		19,031,332
Contract benefits and terminations		(685,639	)		(815,336	)		(9,062	)		(15,310	)		(13,294,004	)		(15,013,579	)
Contract charges and deductions		(4,407	)		(3,232	)		-			-			(199,747	)		(158,787	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			(2,159	)		(1,000	)
Other		53			10,737			295			13			9,540			(1,592	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		608,415			(923,320	)		947,579			611,246			(7,065,270	)		31,575,152
NET INCREASE (DECREASE) IN NET ASSETS		(3,518,928	)		412,226			787,539			607,169			(29,858,951	)		34,483,436
NET ASSETS
Beginning of Year or Period		14,749,250			14,337,024			607,169			-			166,063,844			131,580,408
End of Year or Period	$	11,230,322		$	14,749,250		$	1,394,708		$	607,169		$	136,204,893		$	166,063,844


	Lord Abbett						MFS International						MFS Massachusetts Investors
	Total Return Class VC						Growth - Initial Class (1)						Growth Stock - Service Class
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	6,060,433		$	3,239,285		$	375		$	145		$	(578,444	)	$	(646,628	)
Realized gain (loss) on investments		(3,105,631	)		1,796,175			29,115			7,624			9,075,923			13,791,446
Change in net unrealized appreciation (depreciation) on investments		(46,341,244	)		(8,284,479	)		(93,577	)		(4,979	)		(25,558,998	)		5,403,530
Net Increase (Decrease) in Net Assets Resulting from Operations		(43,386,442	)		(3,249,019	)		(64,087	)		2,790			(17,061,519	)		18,548,348
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		4,145,447			9,465,658			66,865			523,822			1,227,294			4,142,038
Transfers between variable and fixed accounts, net		2,092,753			29,152,037			266,103			4,558			2,196,102			(6,736,280	)
Contract benefits and terminations		(24,528,740	)		(36,530,131	)		(4,162	)		-			(6,010,892	)		(9,812,898	)
Contract charges and deductions		(1,775,665	)		(1,955,423	)		-			-			(423,085	)		(511,928	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		100			(674	)		-			-			204			(58	)
Other		6,454			11,148			(6	)		(26	)		164			5,766
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(20,059,651	)		142,615			328,800			528,354			(3,010,213	)		(12,913,360	)
NET INCREASE (DECREASE) IN NET ASSETS		(63,446,093	)		(3,106,404	)		264,713			531,144			(20,071,732	)		5,634,988
NET ASSETS
Beginning of Year or Period		300,017,160			303,123,564			531,144			-			86,898,259			81,263,271
End of Year or Period	$	236,571,067		$	300,017,160		$	795,857		$	531,144		$	66,826,527		$	86,898,259

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-68

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	MFS New Discovery Series -						MFS Total Return Series -						MFS Utilities Series -
	Initial Class (1)						Service Class						Initial Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(2,655	)	$	(850	)	$	1,166,249		$	1,850,168		$	1,774		$	524
Realized gain (loss) on investments		129,388			39,220			34,295,127			24,127,158			3,600			1,231
Change in net unrealized appreciation (depreciation) on investments		(292,677	)		(67,220	)		(88,854,681	)		28,191,116			(1,899	)		1,153
Net Increase (Decrease) in Net Assets Resulting from Operations		(165,944	)		(28,850	)		(53,393,305	)		54,168,442			3,475			2,908
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		141,848			499,013			30,642,617			43,796,551			37,931			36,525
Transfers between variable and fixed accounts, net		89,252			6,166			10,222,964			10,155,931			89,284			-
Contract benefits and terminations		(4,562	)		(1,042	)		(42,630,966	)		(55,640,609	)		(801	)		(111	)
Contract charges and deductions		-			-			(4,720,830	)		(4,202,492	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			441			(1,077	)		-			-
Other		148			(707	)		39,415			(805	)		(3	)		(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		226,686			503,430			(6,446,359	)		(5,892,501	)		126,411			36,413
NET INCREASE (DECREASE) IN NET ASSETS		60,742			474,580			(59,839,664	)		48,275,941			129,886			39,321
NET ASSETS
Beginning of Year or Period		474,580			-			487,383,226			439,107,285			39,321			-
End of Year or Period	$	535,322		$	474,580		$	427,543,562		$	487,383,226		$	169,207		$	39,321


	MFS Utilities Series -						MFS Value Series -						MFS Value Series -
	Service Class						Initial Class (1)						Service Class
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	734,632		$	194,674		$	1,114		$	211		$	258,814		$	275,129
Realized gain (loss) on investments		1,756,731			1,974,157			6,466			461			5,773,489			3,691,928
Change in net unrealized appreciation (depreciation) on investments		(3,296,883	)		4,839,265			(13,801	)		939			(12,322,452	)		14,994,598
Net Increase (Decrease) in Net Assets Resulting from Operations		(805,520	)		7,008,096			(6,221	)		1,611			(6,290,149	)		18,961,655
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		4,245,487			5,561,663			94,498			21,117			2,831,401			3,895,893
Transfers between variable and fixed accounts, net		10,504,172			3,377,747			13,831			(80	)		(3,303,616	)		(6,173,369	)
Contract benefits and terminations		(7,734,993	)		(7,751,167	)		(770	)		(40	)		(6,631,959	)		(9,431,775	)
Contract charges and deductions		(28,758	)		(26,226	)		-			-			(489,119	)		(527,665	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			2			(164	)
Other		(9,976	)		784			-			(1	)		684			4,310
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		6,975,932			1,162,801			107,559			20,996			(7,592,607	)		(12,232,770	)
NET INCREASE (DECREASE) IN NET ASSETS		6,170,412			8,170,897			101,338			22,607			(13,882,756	)		6,728,885
NET ASSETS
Beginning of Year or Period		62,595,733			54,424,836			22,607			-			90,326,492			83,597,607
End of Year or Period	$	68,766,145		$	62,595,733		$	123,945		$	22,607		$	76,443,736		$	90,326,492

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-69

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended			Year Ended			Year/Period Ended		Period Ended		Year/Period Ended			Period Ended
	December 31,			December 31,			December 31,		December 31,		December 31,			December 31,
	2022			2021			2022		2021		2022			2021
	Neuberger Berman U.S. Equity Index						TOPS				TOPS
	PutWrite Strategy Class S						Aggressive Growth ETF Class 1 (1)				Balanced ETF Class 1 (2)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(36,872	)	$	(16,683	)	$	(136		)	$	2,349		$	(44	)
Realized gain (loss) on investments		475,171			150,910			(10,770		)		2,205			-
Change in net unrealized appreciation (depreciation) on investments		(876,896	)		194,542			(366		)		(15,972	)		179
Net Increase (Decrease) in Net Assets Resulting from Operations		(438,597	)		328,769			(11,272		)		(11,418	)		135
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		801,984			1,015,098			68,845				158,236			53,881
Transfers between variable and fixed accounts, net		464,000			483,502			(52,148		)		-			-
Contract benefits and terminations		(243,194	)		(251,059	)		(404		)		(1,004	)		(2	)
Contract charges and deductions		(401	)		(159	)		-				(766	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-				-			-
Other		(1,219	)		48			(799		)		(3	)		-
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,021,170			1,247,430			15,494				156,463			53,879
NET INCREASE (DECREASE) IN NET ASSETS		582,573			1,576,199			4,222				145,045			54,014
NET ASSETS
Beginning of Year or Period		3,225,085			1,648,886			-				54,014			-
End of Year or Period	$	3,807,658		$	3,225,085		$	4,222			$	199,059		$	54,014

	TOPS			TOPS						TOPS
	Conservative ETF Class 1 (1)			Growth ETF Class 1 (2)						Managed Risk Growth ETF Class 1 (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	2,113		$	169		$	177		$	800
Realized gain (loss) on investments		(3,909	)		(5,102	)		23			3,634
Change in net unrealized appreciation (depreciation) on investments		(6,687	)		(19,590	)		10,497			(5,002	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(8,483	)		(24,523	)		10,697			(568	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		581,037			(53,350	)		250,184			9,220
Transfers between variable and fixed accounts, net		(253,659	)		(11,736	)		(18	)		-
Contract benefits and terminations		(1,153	)		(2,308	)		(700	)		(59	)
Contract charges and deductions		(1,632	)		-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-
Other		(13	)		4,079			(4	)		1
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		324,580			(63,315	)		249,462			9,162
NET INCREASE (DECREASE) IN NET ASSETS		316,097			(87,838	)		260,159			8,594
NET ASSETS
Beginning of Year or Period		-			260,159			-			-
End of Year or Period	$	316,097		$	172,321		$	260,159		$	8,594

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-70

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year/Period Ended		Period Ended		Year Ended			Year Ended			Year/Period Ended			Year Ended
	December 31,		December 31,		December 31,			December 31,			December 31,			December 31,
	2022		2021		2022			2021			2022			2021

	TOPS				PIMCO All Asset -						PIMCO CommodityRealReturn
	Moderate Growth ETF Class 1 (1)				Advisor Class						Strategy - Advisor Class
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	829			$	312,310		$	351,857		$	7,971,025		$	423,994
Realized gain (loss) on investments		651				188,875			(7,895	)		(5,659,844	)		(101,426	)
Change in net unrealized appreciation (depreciation) on investments		(417		)		(1,219,149	)		124,895			(2,548,685	)		2,676,010
Net Increase (Decrease) in Net Assets Resulting from Operations		1,063				(717,964	)		468,857			(237,504	)		2,998,578
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		-				276,381			1,162,762			3,320,426			2,493,048
Transfers between variable and fixed accounts, net		52,440				86,060			1,822,282			9,859,627			9,408,651
Contract benefits and terminations		(176		)		(575,655	)		(526,871	)		(3,428,737	)		(1,295,066	)
Contract charges and deductions		-				(598	)		(906	)		(17,345	)		(2,932	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-				-			-			-			-
Other		1				(353	)		372			(14,845	)		(1,336	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		52,265				(214,165	)		2,457,639			9,719,126			10,602,365
NET INCREASE (DECREASE) IN NET ASSETS		53,328				(932,129	)		2,926,496			9,481,622			13,600,943
NET ASSETS
Beginning of Year or Period		-				5,400,952			2,474,456			22,232,847			8,631,904
End of Year or Period	$	53,328			$	4,468,823		$	5,400,952		$	31,714,469		$	22,232,847

	PIMCO Emerging Markets						PIMCO Income -						PIMCO Long-Term U.S.
	Bond - Institutional Class (2)						Advisor Class						Government - Institutional Class (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	10,431		$	1,875		$	491,958		$	236,453		$	1,876
Realized gain (loss) on investments		(5,166	)		(264	)		(616,871	)		(9,699	)		(714	)
Change in net unrealized appreciation (depreciation) on investments		(34,674	)		(4,231	)		(1,584,731	)		(108,668	)		(23,483	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(29,409	)		(2,620	)		(1,709,644	)		118,086			(22,321	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		107,634			165,055			1,396,495			5,761,277			213,807
Transfers between variable and fixed accounts, net		46,759			1,951			1,693,106			9,883,881			19,235
Contract benefits and terminations		(1,468	)		(4,858	)		(1,291,880	)		(976,303	)		(1,171	)
Contract charges and deductions		-			-			(1,424	)		(1,860	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-
Other		133			(15	)		1,353			(419	)		(2,330	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		153,058			162,133			1,797,650			14,666,576			229,541
NET INCREASE (DECREASE) IN NET ASSETS		123,649			159,513			88,006			14,784,662			207,220
NET ASSETS
Beginning of Year or Period		159,513			-			20,022,762			5,238,100			-
End of Year or Period	$	283,162		$	159,513		$	20,110,768		$	20,022,762		$	207,220

(1) Operations commenced or resumed during 2022 (See Financial Highlights for commencement date of operations).

(2) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-71

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year/Period Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	PIMCO Low Duration -						PIMCO Total Return -						PSF International
	Institutional Class (1)						Institutional Class (1)						Growth Class II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	8,107		$	44		$	14,853		$	740		$	(802	)	$	(1,101	)
Realized gain (loss) on investments		(4,079	)		(1	)		(22,289	)		(27	)		2,260			3,066
Change in net unrealized appreciation (depreciation) on investments		(26,196	)		(361	)		(34,235	)		(797	)		(22,208	)		4,721
Net Increase (Decrease) in Net Assets Resulting from Operations		(22,168	)		(318	)		(41,671	)		(84	)		(20,750	)		6,686
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		631,827			14,850			1,297,641			115,008			-			-
Transfers between variable and fixed accounts, net		64,938			28,670			132,323			1,035			-			-
Contract benefits and terminations		(1,115	)		(97	)		(6,460	)		(2,430	)		(2,773	)		(3,124	)
Contract charges and deductions		-			-			-			-			(108	)		(139	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(5	)		(1	)		59			(6	)		19			(4	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		695,645			43,422			1,423,563			113,607			(2,862	)		(3,267	)
NET INCREASE (DECREASE) IN NET ASSETS		673,477			43,104			1,381,892			113,523			(23,612	)		3,419
NET ASSETS
Beginning of Year or Period		43,104			-			113,523			-			69,012			65,593
End of Year or Period	$	716,581		$	43,104		$	1,495,415		$	113,523		$	45,400		$	69,012


	PSF Mid-Cap						PSF PGIM						PSF PGIM
	Growth Class II						Jennison Growth Class II						Jennison Value Class II
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	(386	)	$	(466	)	$	(1,303	)	$	(1,816	)	$	(1,413	)	$	(1,473	)
Realized gain (loss) on investments		(121	)		224			1,191			16,254			3,763			3,360
Change in net unrealized appreciation (depreciation) on investments		(7,796	)		2,487			(47,431	)		2,147			(12,199	)		19,419
Net Increase (Decrease) in Net Assets Resulting from Operations		(8,303	)		2,245			(47,543	)		16,585			(9,849	)		21,306
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		-			-			-			-			-			-
Transfers between variable and fixed accounts, net		457			798			-			-			-			-
Contract benefits and terminations		-			(57	)		-			(15,948	)		(3,732	)		(3,008	)
Contract charges and deductions		(16	)		(23	)		(48	)		(79	)		(305	)		(314	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		-			(3	)		19			(10	)		12			(23	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		441			715			(29	)		(16,037	)		(4,025	)		(3,345	)
NET INCREASE (DECREASE) IN NET ASSETS		(7,862	)		2,960			(47,572	)		548			(13,874	)		17,961
NET ASSETS
Beginning of Year		29,170			26,210			122,631			122,083			102,897			84,936
End of Year	$	21,308		$	29,170		$	75,059		$	122,631		$	89,023		$	102,897

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-72

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Year/Period Ended			Year Ended			Year Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Schwab												Schwab VIT
	S&P 500 Index (1)						Schwab VIT Balanced						Balanced with Growth
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	147,649		$	11,280		$	600,575		$	527,026		$	1,360,817		$	1,100,198
Realized gain (loss) on investments		(327,406	)		(469	)		1,547,045			455,640			3,126,998			1,264,866
Change in net unrealized appreciation (depreciation) on investments		(2,270,675	)		515,927			(13,196,190	)		4,385,877			(30,357,237	)		13,224,152
Net Increase (Decrease) in Net Assets Resulting from Operations		(2,450,432	)		526,738			(11,048,570	)		5,368,543			(25,869,422	)		15,589,216
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		16,004,635			6,893,477			726,211			2,916,697			4,842,001			3,596,348
Transfers between variable and fixed accounts, net		(1,470,887	)		558,784			1,808,567			634,731			(205,298	)		(441,123	)
Contract benefits and terminations		(201,516	)		(30,896	)		(8,145,454	)		(6,512,952	)		(9,379,072	)		(8,463,697	)
Contract charges and deductions		-			-			(296,160	)		(297,428	)		(705,020	)		(665,748	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(11,073	)		(255	)		25,525			(428	)		2,428			23
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		14,321,159			7,421,110			(5,881,311	)		(3,259,380	)		(5,444,961	)		(5,974,197	)
NET INCREASE (DECREASE) IN NET ASSETS		11,870,727			7,947,848			(16,929,881	)		2,109,163			(31,314,383	)		9,615,019
NET ASSETS
Beginning of Year or Period		7,947,848			-			74,263,716			72,154,553			157,164,117			147,549,098
End of Year or Period	$	19,818,575		$	7,947,848		$	57,333,835		$	74,263,716		$	125,849,734		$	157,164,117


							State Street						T. Rowe Price
	Schwab VIT Growth						Total Return V.I.S. Class 3						Blue Chip Growth - I (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	1,597,508		$	1,159,740		$	(2,650,478	)	$	2,025,486		$	(2,501	)	$	(162	)
Realized gain (loss) on investments		2,965,024			2,081,318			(2,202,942	)		53,972,254			27,817			6,706
Change in net unrealized appreciation (depreciation) on investments		(35,448,935	)		18,033,294			(59,445,045	)		(12,777,473	)		(221,807	)		(2,096	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(30,886,403	)		21,274,352			(64,298,465	)		43,220,267			(196,491	)		4,448
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		5,796,509			10,581,528			6,279,745			12,671,637			543,982			58,516
Transfers between variable and fixed accounts, net		(1,603,289	)		(93,657	)		(9,218,624	)		(5,687,280	)		502,002			-
Contract benefits and terminations		(9,790,021	)		(12,883,556	)		(34,462,927	)		(50,807,757	)		(29,366	)		(131	)
Contract charges and deductions		(1,056,558	)		(936,847	)		(3,808,908	)		(3,990,795	)		-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			(15,470	)		274			-			-
Other		17,205			1,972			7,753			1,165			14			(1	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		(6,636,154	)		(3,330,560	)		(41,218,431	)		(47,812,756	)		1,016,632			58,384
NET INCREASE (DECREASE) IN NET ASSETS		(37,522,557	)		17,943,792			(105,516,896	)		(4,592,489	)		820,141			62,832
NET ASSETS
Beginning of Year or Period		174,453,014			156,509,222			378,586,903			383,179,392			62,832			-
End of Year or Period	$	136,930,457		$	174,453,014		$	273,070,007		$	378,586,903		$	882,973		$	62,832

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-73

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year Ended			Period Ended			Year Ended			Year/Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	T. Rowe Price						T. Rowe Price						VanEck VIP
	Equity Income - I (1)						Health Sciences - I (1)						Global Resources Class S
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	4,153		$	676		$	(2,011	)	$	(643	)	$	100,445		$	(206,413	)
Realized gain (loss) on investments		13,016			7,766			2,766			15,808			(269,061	)		(7,369	)
Change in net unrealized appreciation (depreciation) on investments		(30,143	)		(2,484	)		(40,412	)		(2,947	)		1,432,065			3,278,344
Net Increase (Decrease) in Net Assets Resulting from Operations		(12,974	)		5,958			(39,657	)		12,218			1,263,449			3,064,562
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		183,141			115,413			92,749			280,977			1,380,968			2,811,213
Transfers between variable and fixed accounts, net		16,934			-			108,619			(410	)		5,911,424			230,551
Contract benefits and terminations		(13,542	)		(4,516	)		(7,588	)		(1,947	)		(2,509,349	)		(2,237,138	)
Contract charges and deductions		-			-			-			-			(9,913	)		(7,113	)
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			(597	)		-
Other		(2	)		(443	)		(5	)		(120	)		(17,798	)		(1,628	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		186,531			110,454			193,775			278,500			4,754,735			795,885
NET INCREASE (DECREASE) IN NET ASSETS		173,557			116,412			154,118			290,718			6,018,184			3,860,447
NET ASSETS
Beginning of Year or Period		116,412			-			290,718			-			21,787,494			17,927,047
End of Year or Period	$	289,969		$	116,412		$	444,836		$	290,718		$	27,805,678		$	21,787,494


	Vanguard VIF						Vanguard VIF						Vanguard VIF
	Balanced (1)						Capital Growth (1)						Conservative Allocation (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	64,553		$	(7,413	)	$	2,535			(493	)	$	30,718		$	(4,093	)
Realized gain (loss) on investments		321,050			(1,892	)		35,222			(12	)		(95,176	)		(486	)
Change in net unrealized appreciation (depreciation) on investments		(1,239,513	)		233,361			(145,174	)		7,938			(326,302	)		28,390
Net Increase (Decrease) in Net Assets Resulting from Operations		(853,910	)		224,056			(107,417	)		7,433			(390,760	)		23,811
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		7,670,194			3,595,070			839,291			347,361			2,568,898			2,612,708
Transfers between variable and fixed accounts, net		(125,471	)		255,246			190,558			-			(1,266,299	)		-
Contract benefits and terminations		(295,871	)		(7,090	)		(9,454	)		(570	)		(81,666	)		(169,196	)
Contract charges and deductions		(36,529	)		(79	)		-			-			(1,995	)		-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(2,833	)		(70	)		(5	)		(313	)		(9	)		(43	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		7,209,490			3,843,077			1,020,390			346,478			1,218,929			2,443,469
NET INCREASE (DECREASE) IN NET ASSETS		6,355,580			4,067,133			912,973			353,911			828,169			2,467,280
NET ASSETS
Beginning of Year or Period		4,067,133			-			353,911			-			2,467,280			-
End of Year or Period	$	10,422,713		$	4,067,133		$	1,266,884		$	353,911		$	3,295,449		$	2,467,280

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-74

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year Ended			Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Vanguard VIF						Vanguard VIF						Vanguard VIF
	Diversified Value (1)						Equity Income (1)						Equity Index (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	4,794		$	(1,314	)	$	3,786		$	(730	)	$	21,353		$	(2,565	)
Realized gain (loss) on investments		59,584			7			30,044			(16	)		74,910			23
Change in net unrealized appreciation (depreciation) on investments		(173,465	)		30,472			82,587			16,847			(560,758	)		185,382
Net Increase (Decrease) in Net Assets Resulting from Operations		(109,087	)		29,165			116,417			16,101			(464,495	)		182,840
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		453,540			835,618			1,248,167			266,416			97,347			2,433,547
Transfers between variable and fixed accounts, net		(52,554	)		(10,624	)		515,073			(536	)		(105,946	)		-
Contract benefits and terminations		(6,176	)		(208	)		(16,133	)		(693	)		(46,658	)		(12,755	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(257	)		(174	)		2,281			(66	)		(1,253	)		1,353
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		394,553			824,612			1,749,388			265,121			(56,510	)		2,422,145
NET INCREASE (DECREASE) IN NET ASSETS		285,466			853,777			1,865,805			281,222			(521,005	)		2,604,985
NET ASSETS
Beginning of Year or Period		853,777			-			281,222			-			2,604,985			-
End of Year or Period	$	1,139,243		$	853,777		$	2,147,027		$	281,222		$	2,083,980		$	2,604,985


	Vanguard VIF						Vanguard VIF						Vanguard VIF
	Global Bond Index (1)						Growth (1)						High Yield Bond (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	20,024		$	(911	)	$	(5,215	)	$	(1,059	)	$	23,908		$	(452	)
Realized gain (loss) on investments		1,658			(15	)		46,059			(72	)		(18,373	)		(5	)
Change in net unrealized appreciation (depreciation) on investments		(157,191	)		(20	)		(358,564	)		6,174			(64,941	)		2,599
Net Increase (Decrease) in Net Assets Resulting from Operations		(135,509	)		(946	)		(317,720	)		5,043			(59,406	)		2,142
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		229,155			882,529			1,026,981			649,913			794,932			392,365
Transfers between variable and fixed accounts, net		(13,951	)		(55	)		121,548			(4,387	)		(219,464	)		7,038
Contract benefits and terminations		(7,837	)		(380	)		(7,299	)		(4	)		(4,781	)		(5,632	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(1	)		(16	)		243			(11	)		(9	)		(26	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		207,366			882,078			1,141,473			645,511			570,678			393,745
NET INCREASE (DECREASE) IN NET ASSETS		71,857			881,132			823,753			650,554			511,272			395,887
NET ASSETS
Beginning of Year or Period		881,132			-			650,554			-			395,887			-
End of Year or Period	$	952,989		$	881,132		$	1,474,307		$	650,554		$	907,159		$	395,887

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-75

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year Ended			Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021			2022			2021
	Vanguard VIF						Vanguard VIF						Vanguard VIF
	International (1)						Mid-Cap Index (1)						Moderate Allocation (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	1,026		$	(372	)	$	6,768		$	(788	)	$	128,684		$	(5,589	)
Realized gain (loss) on investments		(84,021	)		(127	)		73,254			931			194,336			(1,201	)
Change in net unrealized appreciation (depreciation) on investments		2,007			(13,449	)		(404,889	)		24,553			(1,602,587	)		71,684
Net Increase (Decrease) in Net Assets Resulting from Operations		(80,988	)		(13,948	)		(324,867	)		24,696			(1,279,567	)		64,894
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		315,703			187,783			2,391,490			718,277			8,796,516			6,734,732
Transfers between variable and fixed accounts, net		22,719			4,818			669,507			(44,309	)		(309,552	)		188
Contract benefits and terminations		(5,475	)		(1,672	)		(34,085	)		(1,081	)		(266,071	)		(58,136	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		154			13			(1,350	)		50			(658	)		(841	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		333,101			190,942			3,025,562			672,937			8,220,235			6,675,943
NET INCREASE (DECREASE) IN NET ASSETS		252,113			176,994			2,700,695			697,633			6,940,668			6,740,837
NET ASSETS
Beginning of Year or Period		176,994			-			697,633			-			6,740,837			-
End of Year or Period	$	429,107		$	176,994		$	3,398,328		$	697,633		$	13,681,505		$	6,740,837


	Vanguard VIF						Vanguard VIF						Vanguard VIF
	Real Estate Index (1)						Short-Term Investment-Grade (1)						Total Bond Market Index (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	13,732		$	(234	)	$	21,372		$	(1,509	)	$	95,914		$	(6,826	)
Realized gain (loss) on investments		34,253			(5	)		(21,596	)		(21	)		(241,465	)		(295	)
Change in net unrealized appreciation (depreciation) on investments		(360,256	)		14,408			(112,899	)		(5,640	)		(760,100	)		(5,198	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(312,271	)		14,169			(113,123	)		(7,170	)		(905,651	)		(12,319	)
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		1,056,917			165,992			2,629,556			1,140,703			3,794,162			6,471,383
Transfers between variable and fixed accounts, net		381,765			20,500			415,817			19,045			(1,646,507	)		16,060
Contract benefits and terminations		(13,534	)		(275	)		(63,456	)		(868	)		(77,699	)		(35,842	)
Contract charges and deductions		-			-			-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-			-			-
Other		(238	)		(2	)		57			(45	)		(785	)		56
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		1,424,910			186,215			2,981,974			1,158,835			2,069,171			6,451,657
NET INCREASE (DECREASE) IN NET ASSETS		1,112,639			200,384			2,868,851			1,151,665			1,163,520			6,439,338
NET ASSETS
Beginning of Year or Period		200,384			-			1,151,665			-			6,439,338			-
End of Year or Period	$	1,313,023		$	200,384		$	4,020,516		$	1,151,665		$	7,602,858		$	6,439,338

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-76

SEPARATE ACCOUNT A

STATEMENTS OF CHANGES IN NET ASSETS (Continued)

	Variable Accounts
	Year Ended			Period Ended			Year Ended			Period Ended
	December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021
	Vanguard VIF Total						Vanguard VIF
	International Stock Market Index (1)						Total Stock Market Index (1)
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income (loss)	$	85,159		($	3,539	)	$	37,125		($	4,453	)
Realized gain (loss) on investments		46,536			(481	)		122,878			4,916
Change in net unrealized appreciation (depreciation) on investments		(818,870	)		6,535			(1,151,349	)		177,042
Net Increase (Decrease) in Net Assets Resulting from Operations		(687,175	)		2,515			(991,346	)		177,505
INCREASE (DECREASE) IN NET ASSETS FROM CONTRACT OWNER TRANSACTIONS
Payments received from contract owners		3,253,158			2,961,003			4,749,656			3,572,673
Transfers between variable and fixed accounts, net		1,608,648			126,018			86,864			(215,315	)
Contract benefits and terminations		(69,501	)		(14,202	)		(100,994	)		(33,412	)
Contract charges and deductions		-			-			-			-
Adjustments to net assets allocated to contracts in payout (annuitization) period		-			-			-			-
Other		326			483			(16,236	)		(428	)
Net Increase (Decrease) in Net Assets Derived from Contract Owner Transactions		4,792,631			3,073,302			4,719,290			3,323,518
NET INCREASE (DECREASE) IN NET ASSETS		4,105,456			3,075,817			3,727,944			3,501,023
NET ASSETS
Beginning of Year or Period		3,075,817			-			3,501,023			-
End of Year or Period	$	7,181,273		$	3,075,817		$	7,228,967		$	3,501,023

(1) Operations commenced or resumed during 2021 (See Financial Highlights for commencement date of operations).

See Notes to Financial Statements

SA-77

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS

A summary of accumulation unit values ("AUV"), units outstanding, net assets, investment income ratios, expense ratios, and total returns for each year or period ended December 31 are presented in the table below.

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Core Income Class I
2022	$	8.71	$	10.83		3,478,965	$	35,591,556		0.00	%		0.30	%		1.95	%		(14.09	)%		(12.66	)%
2021		10.05		12.41		3,333,548		39,404,318		0.00	%		0.30	%		1.95	%		(2.32	)%		(0.69	)%
2020		11.46		12.51		3,189,553		38,329,877		0.00	%		0.30	%		2.00	%		7.46	%		9.25	%
2019		10.64		11.46		2,151,095		23,795,771		0.00	%		0.30	%		2.00	%		8.73	%		10.59	%
2018		9.78		10.38		1,148,625		11,581,723		0.00	%		0.30	%		2.00	%		(3.89	)%		(2.24	)%
Diversified Bond Class I
2022	$	8.07	$	15.43		16,208,941	$	181,360,873		0.00	%		0.30	%		2.00	%		(20.23	)%		(18.86	)%
2021		10.04		19.04		17,376,218		242,491,985		0.00	%		0.30	%		2.00	%		(3.87	)%		(2.22	)%
2020		12.14		19.49		15,489,503		225,524,712		0.00	%		0.30	%		2.00	%		8.17	%		10.02	%
2019		11.16		17.73		13,472,666		182,275,698		0.00	%		0.30	%		2.00	%		10.76	%		12.66	%
2018		10.03		15.75		11,784,263		145,114,938		0.00	%		0.30	%		2.00	%		(3.32	)%		(1.65	)%
Floating Rate Income Class I
2022	$	9.86	$	13.06		13,808,314	$	164,826,879		0.00	%		0.30	%		2.00	%		(3.49	)%		(1.84	)%
2021		10.14		13.32		12,474,821		153,131,393		0.00	%		0.30	%		2.00	%		2.55	%		4.31	%
2020		10.97		12.78		11,256,440		133,786,363		0.00	%		0.30	%		2.00	%		2.63	%		4.39	%
2019		10.64		12.25		14,377,073		165,220,344		0.00	%		0.30	%		2.00	%		5.97	%		7.78	%
2018		10.02		11.38		6,020,102		64,891,680		0.00	%		0.30	%		2.00	%		(2.02	)%		(0.33	)%
Floating Rate Income Class P
2022	$	10.11	$	10.14		107,305	$	1,086,656		0.00	%		0.45	%		0.60	%		(1.94	)%		(1.79	)%
05/27/2021 - 12/31/2021		10.31		10.32		79,769		822,761		0.00	%		0.45	%		0.60	%		1.99	%		1.99	%
High Yield Bond Class I
2022	$	10.08	$	27.79		7,526,318	$	123,579,098		0.00	%		0.30	%		2.00	%		(12.12	)%		(10.62	)%
2021		12.12		31.12		9,003,353		169,113,680		0.00	%		0.30	%		2.00	%		3.33	%		5.10	%
2020		11.64		29.64		9,125,009		169,940,567		0.00	%		0.30	%		2.00	%		3.65	%		5.43	%
2019		11.15		28.14		9,943,416		180,716,346		0.00	%		0.30	%		2.00	%		11.73	%		13.64	%
2018		9.91		24.79		9,511,531		156,838,974		0.00	%		0.30	%		2.00	%		(5.20	)%		(3.56	)%
Inflation Managed Class I
2022	$	9.01	$	23.87		11,807,580	$	168,900,461		0.00	%		0.30	%		2.00	%		(13.61	)%		(12.14	)%
2021		10.35		27.47		12,557,766		214,072,254		0.00	%		0.30	%		2.00	%		3.60	%		5.37	%
2020		10.12		26.35		10,364,592		181,604,575		0.00	%		0.30	%		2.00	%		9.21	%		11.09	%
2019		9.24		23.99		10,343,826		169,617,916		0.00	%		0.30	%		2.00	%		6.49	%		8.32	%
2018		8.66		22.39		11,247,518		176,500,238		0.00	%		0.30	%		2.00	%		(4.10	)%		(2.45	)%
Intermediate Bond Class I
2022	$	8.51	$	9.60		914,805	$	7,883,500		0.00	%		0.30	%		1.85	%		(14.36	)%		(13.63	)%
11/03/2021 - 12/31/2021		9.97		9.98		96,614		963,964		0.00	%		0.30	%		1.60	%		(0.12	)%		(0.12	)%
Managed Bond Class I
2022	$	8.54	$	23.89		20,838,582	$	293,086,505		0.00	%		0.30	%		2.00	%		(15.72	)%		(14.28	)%
2021		10.74		28.18		23,360,988		391,987,013		0.00	%		0.30	%		2.00	%		(3.09	)%		(1.43	)%
2020		11.07		28.90		22,834,095		403,577,841		0.00	%		0.30	%		2.00	%		6.20	%		8.02	%
2019		10.40		27.05		22,284,620		381,005,513		0.00	%		0.30	%		2.00	%		6.34	%		8.17	%
2018		9.76		25.29		21,835,220		364,851,787		0.00	%		0.30	%		2.00	%		(2.58	)%		(0.90	)%
Short Duration Bond Class I
2022	$	9.07	$	12.58		30,813,210	$	310,345,111		0.00	%		0.30	%		2.00	%		(6.46	)%		(4.86	)%
2021		9.68		13.23		34,516,572		368,495,538		0.00	%		0.30	%		2.00	%		(2.42	)%		(0.75	)%
2020		9.90		13.35		33,138,939		359,491,780		0.00	%		0.30	%		2.00	%		1.68	%		3.42	%
2019		9.72		12.92		32,261,598		341,983,698		0.00	%		0.30	%		2.00	%		2.16	%		3.91	%
2018		9.49		12.44		30,236,850		311,504,706		0.00	%		0.30	%		2.00	%		(0.88	)%		0.83	%
Emerging Markets Debt Class I
2022	$	8.51	$	10.83		1,318,192	$	12,528,823		0.00	%		0.30	%		2.00	%		(11.06	)%		(9.54	)%
2021		9.55		11.98		1,621,000		17,267,388		0.00	%		0.30	%		2.00	%		(7.98	)%		(6.40	)%
2020		10.36		12.81		1,580,511		18,134,828		0.00	%		0.30	%		2.00	%		(0.26	)%		1.45	%
2019		10.36		12.64		1,777,321		20,249,407		0.00	%		0.30	%		2.00	%		7.35	%		9.19	%
2018		9.63		11.59		1,797,712		18,951,916		0.00	%		0.30	%		2.00	%		(7.34	)%		(5.74	)%
Dividend Growth Class I
2022	$	9.93	$	41.20		14,678,660	$	417,480,008		0.00	%		0.30	%		2.00	%		(12.26	)%		(10.76	)%
2021		11.21		46.21		14,573,292		485,107,198		0.00	%		0.30	%		2.00	%		23.31	%		25.42	%
2020		15.73		36.88		14,379,140		392,591,032		0.00	%		0.30	%		2.00	%		11.19	%		13.10	%
2019		14.07		32.64		14,570,294		360,631,080		0.00	%		0.30	%		2.00	%		28.05	%		30.25	%
2018		10.94		25.09		14,056,494		274,423,228		0.00	%		0.30	%		2.00	%		(3.25	)%		(1.58	)%

See Notes to Financial Statements

SA-78

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Equity Index Class I
2022	$	9.13	$	65.04		48,691,993	$	1,298,658,388		0.00	%		0.30	%		2.00	%		(19.93	)%		(18.55	)%
2021		11.33		80.74		47,333,159		1,630,463,464		0.00	%		0.30	%		2.00	%		25.83	%		27.99	%
2020		16.13		63.79		42,907,290		1,207,544,897		0.00	%		0.30	%		2.00	%		15.77	%		17.76	%
2019		13.84		54.77		42,320,089		1,044,372,214		0.00	%		0.30	%		2.00	%		28.50	%		30.70	%
2018		10.69		42.36		39,266,074		770,008,055		0.00	%		0.30	%		2.00	%		(6.63	)%		(5.02	)%
Focused Growth Class I
2022	$	7.27	$	68.57		5,455,323	$	167,698,636		0.00	%		0.30	%		2.00	%		(35.11	)%		(34.00	)%
2021		11.10		103.99		5,423,820		266,598,139		0.00	%		0.30	%		2.00	%		17.41	%		19.43	%
2020		22.24		87.16		5,161,793		219,367,794		0.00	%		0.30	%		2.00	%		35.56	%		37.88	%
2019		16.29		63.28		5,518,935		176,509,190		0.00	%		0.30	%		2.00	%		32.78	%		35.06	%
2018		13.73		46.90		5,377,847		132,603,632		0.00	%		0.30	%		2.00	%		2.90	%		4.67	%
Growth Class I
2022	$	7.86	$	74.31		7,706,459	$	295,380,893		0.00	%		0.30	%		2.00	%		(32.57	)%		(31.42	)%
2021		11.54		109.55		7,711,223		454,798,690		0.00	%		0.30	%		2.00	%		20.98	%		23.05	%
2020		21.12		90.01		7,677,598		386,224,796		0.00	%		0.30	%		2.00	%		28.96	%		31.17	%
2019		16.30		69.38		7,725,298		313,122,387		0.00	%		0.30	%		2.00	%		35.40	%		37.72	%
2018		11.98		50.93		7,589,376		238,326,340		0.00	%		0.30	%		2.00	%		0.36	%		2.09	%
Hedged Equity Class I
2022	$	9.40	$	10.03		12,776,603	$	121,716,044		0.00	%		0.30	%		1.95	%		(9.63	)%		(8.22	)%
05/04/2021 - 12/31/2021		10.42		10.53		3,532,181		36,962,504		0.00	%		0.30	%		1.85	%		4.54	%		4.54	%
Hedged Equity Class P
2022	$	9.48	$	9.48		162,474	$	1,540,599		0.00	%		0.45	%		0.45	%		(8.18	)%		(8.18	)%
08/13/2021 - 12/31/2021		10.33		10.33		11,221		115,873		0.00	%		0.45	%		0.45	%		1.89	%		1.89	%
Large-Cap Core Class I
2022	$	9.96	$	47.51		6,807,796	$	227,087,139		0.00	%		0.30	%		2.00	%		(22.18	)%		(20.85	)%
2021		20.72		60.69		7,312,586		317,067,817		0.00	%		0.30	%		2.00	%		25.23	%		27.38	%
2020		16.30		48.17		8,154,980		283,532,001		0.00	%		0.30	%		2.00	%		11.68	%		13.59	%
2019		14.38		42.88		9,529,328		293,457,670		0.00	%		0.30	%		2.00	%		29.52	%		31.74	%
2018		10.93		32.91		10,633,140		253,542,764		0.00	%		0.30	%		2.00	%		(9.58	)%		(8.02	)%
Large-Cap Growth Class I
2022	$	9.17	$	36.74		8,517,159	$	194,888,783		0.00	%		0.30	%		2.00	%		(39.13	)%		(38.09	)%
2021		25.38		59.61		8,739,074		328,630,649		0.00	%		0.30	%		2.00	%		17.89	%		19.91	%
2020		21.42		49.94		9,264,727		292,565,788		0.00	%		0.30	%		2.00	%		35.61	%		37.93	%
2019		15.72		36.37		9,225,050		213,262,358		0.00	%		0.30	%		2.00	%		29.72	%		31.95	%
2018		12.05		27.69		9,251,139		163,354,575		0.00	%		0.30	%		2.00	%		(0.14	)%		1.58	%
Large-Cap Value Class I
2022	$	9.68	$	36.24		9,393,789	$	239,660,488		0.00	%		0.30	%		2.00	%		(8.48	)%		(6.91	)%
2021		10.53		39.36		8,847,030		256,269,837		0.00	%		0.30	%		2.00	%		23.62	%		25.74	%
2020		12.91		31.65		8,251,342		200,560,402		0.00	%		0.30	%		2.00	%		3.77	%		5.55	%
2019		12.35		30.31		8,646,430		205,659,391		0.00	%		0.30	%		2.00	%		25.92	%		28.08	%
2018		9.74		23.93		9,256,573		176,677,899		0.00	%		0.30	%		2.00	%		(11.15	)%		(9.62	)%
Mid-Cap Equity Class I
2022	$	8.31	$	54.70		6,835,391	$	211,893,276		0.00	%		0.30	%		2.00	%		(18.89	)%		(17.50	)%
2021		17.89		67.03		6,728,833		265,451,633		0.00	%		0.30	%		2.00	%		14.10	%		16.05	%
2020		15.60		58.40		6,443,675		234,858,057		0.00	%		0.30	%		2.00	%		24.99	%		27.13	%
2019		12.42		46.45		6,996,655		209,138,478		0.00	%		0.30	%		2.00	%		18.45	%		20.48	%
2018		10.43		38.98		7,287,312		188,424,421		0.00	%		0.30	%		2.00	%		(11.51	)%		(9.99	)%
Mid-Cap Growth Class I
2022	$	7.53	$	36.70		9,155,547	$	247,780,894		0.00	%		0.30	%		2.00	%		(32.10	)%		(30.93	)%
2021		11.00		53.38		9,226,331		368,344,471		0.00	%		0.30	%		2.00	%		14.36	%		16.32	%
2020		23.82		46.10		9,767,687		341,825,807		0.00	%		0.30	%		2.00	%		47.17	%		49.69	%
2019		16.07		30.93		10,774,027		258,256,271		0.00	%		0.30	%		2.00	%		35.71	%		38.04	%
2018		11.76		22.54		11,170,460		198,481,470		0.00	%		0.30	%		2.00	%		(1.83	)%		(0.14	)%
Mid-Cap Value Class I
2022	$	9.39	$	42.68		4,211,163	$	101,437,822		0.00	%		0.30	%		2.00	%		(9.10	)%		(7.54	)%
2021		10.22		46.21		4,453,627		120,534,150		0.00	%		0.30	%		2.00	%		24.52	%		26.65	%
2020		13.39		36.52		3,812,231		85,401,943		0.00	%		0.30	%		2.00	%		3.43	%		5.20	%
2019		12.76		34.75		4,350,388		97,366,796		0.00	%		0.30	%		2.00	%		27.37	%		29.55	%
2018		9.87		26.85		4,398,530		76,990,322		0.00	%		0.30	%		2.00	%		(16.49	)%		(15.05	)%

See Notes to Financial Statements

SA-79

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Small-Cap Equity Class I
2022	$	8.43	$	39.48		2,731,229	$	58,278,803		0.00	%		0.30	%		2.00	%		(14.64	)%		(13.18	)%
2021		9.77		45.52		2,919,437		73,712,345		0.00	%		0.30	%		2.00	%		23.96	%		26.08	%
2020		12.53		36.14		2,628,838		54,784,251		0.00	%		0.30	%		2.00	%		3.33	%		5.10	%
2019		11.94		34.42		2,666,253		54,430,618		0.00	%		0.30	%		2.00	%		21.50	%		23.59	%
2018		9.68		27.88		2,597,583		44,747,889		0.00	%		0.30	%		2.00	%		(14.65	)%		(13.17	)%
Small-Cap Growth Class I
2022	$	6.70	$	31.93		4,818,532	$	112,684,447		0.00	%		0.30	%		2.00	%		(31.31	)%		(30.13	)%
2021		9.66		45.75		4,472,937		152,924,932		0.00	%		0.30	%		2.00	%		(0.32	)%		1.39	%
2020		24.95		45.17		4,452,222		155,145,306		0.00	%		0.30	%		2.00	%		52.50	%		55.11	%
2019		16.25		29.15		5,053,589		116,165,093		0.00	%		0.30	%		2.00	%		29.29	%		31.51	%
2018		13.62		22.19		5,514,620		98,638,713		0.00	%		0.30	%		2.00	%		3.45	%		5.23	%
Small-Cap Index Class I
2022	$	7.61	$	38.93		10,299,941	$	223,773,824		0.00	%		0.30	%		2.00	%		(22.43	)%		(21.10	)%
2021		9.74		49.39		10,483,466		297,353,955		0.00	%		0.30	%		2.00	%		11.98	%		13.89	%
2020		14.02		43.41		10,160,705		265,843,742		0.00	%		0.30	%		2.00	%		16.80	%		18.80	%
2019		11.94		36.58		10,182,090		233,189,346		0.00	%		0.30	%		2.00	%		22.33	%		24.42	%
2018		9.71		29.43		9,742,504		187,508,926		0.00	%		0.30	%		2.00	%		(13.32	)%		(11.82	)%
Small-Cap Value Class I
2022	$	8.11	$	60.14		4,332,834	$	108,567,265		0.00	%		0.30	%		2.00	%		(18.45	)%		(17.06	)%
2021		9.85		72.59		4,636,206		146,262,895		0.00	%		0.30	%		2.00	%		32.92	%		35.20	%
2020		11.08		53.74		4,325,214		108,118,275		0.00	%		0.30	%		2.00	%		1.39	%		3.13	%
2019		10.87		52.16		4,552,357		114,480,115		0.00	%		0.30	%		2.00	%		20.16	%		22.22	%
2018		9.00		42.72		4,539,485		98,856,096		0.00	%		0.30	%		2.00	%		(17.96	)%		(16.54	)%
Value Class I
2022	$	10.32	$	30.80		7,848,410	$	177,385,602		0.00	%		0.30	%		2.00	%		(2.50	)%		(0.83	)%
2021		10.47		31.09		7,952,289		187,762,796		0.00	%		0.30	%		2.00	%		19.24	%		21.28	%
2020		11.16		25.66		8,856,167		176,480,230		0.00	%		0.30	%		2.00	%		(8.78	)%		(7.22	)%
2019		12.17		27.69		9,134,455		197,827,146		0.00	%		0.30	%		2.00	%		22.25	%		24.35	%
2018		9.91		22.29		9,819,439		172,698,671		0.00	%		0.30	%		2.00	%		(14.12	)%		(12.63	)%
Value Advantage Class I
2022	$	10.46	$	22.53		4,430,519	$	89,631,172		0.00	%		0.30	%		2.00	%		(5.96	)%		(4.35	)%
2021		16.42		23.58		3,571,733		77,360,557		0.00	%		0.30	%		2.00	%		25.98	%		28.14	%
2020		12.84		18.42		2,729,163		46,722,273		0.00	%		0.30	%		2.00	%		(4.70	)%		(3.07	)%
2019		13.28		19.02		2,407,374		42,826,045		0.00	%		0.30	%		2.00	%		24.45	%		26.58	%
2018		10.51		15.04		2,092,943		29,758,832		0.00	%		0.30	%		2.00	%		(10.88	)%		(9.34	)%
Emerging Markets Class I
2022	$	6.29	$	63.03		9,163,589	$	140,559,979		0.00	%		0.30	%		2.00	%		(26.75	)%		(25.50	)%
2021		8.50		84.69		8,603,856		184,146,175		0.00	%		0.30	%		2.00	%		(10.10	)%		(8.56	)%
2020		14.16		92.71		8,202,236		204,655,526		0.00	%		0.30	%		2.00	%		15.00	%		16.98	%
2019		12.23		79.33		8,977,104		199,638,291		0.00	%		0.30	%		2.00	%		23.12	%		25.23	%
2018		9.86		63.42		9,588,606		178,868,614		0.00	%		0.30	%		2.00	%		(13.75	)%		(12.26	)%
International Growth Class I
2022	$	7.54	$	10.48		203,289	$	1,570,294		0.00	%		0.30	%		1.75	%		(22.90	)%		(21.77	)%
11/02/2021 - 12/31/2021		9.79		9.81		43,783		429,164		0.00	%		0.30	%		1.75	%		(2.00	)%		(2.00	)%
International Large-Cap Class I
2022	$	8.71	$	31.13		13,611,310	$	239,865,257		0.00	%		0.30	%		2.00	%		(16.87	)%		(15.45	)%
2021		10.40		36.85		13,989,831		295,626,098		0.00	%		0.30	%		2.00	%		12.51	%		14.43	%
2020		13.97		32.23		14,339,332		270,337,837		0.00	%		0.30	%		2.00	%		8.55	%		10.41	%
2019		12.81		29.23		15,285,757		264,096,383		0.00	%		0.30	%		2.00	%		25.50	%		27.65	%
2018		10.16		22.92		16,898,528		231,939,706		0.00	%		0.30	%		2.00	%		(13.57	)%		(12.08	)%
International Small-Cap Class I
2022	$	10.39	$	19.97		2,513,634	$	34,142,442		0.00	%		0.30	%		2.00	%		(18.73	)%		(17.34	)%
2021		13.16		24.26		2,625,882		43,597,347		0.00	%		0.30	%		2.00	%		11.62	%		13.53	%
2020		11.71		21.47		2,805,711		41,343,803		0.00	%		0.30	%		2.00	%		6.27	%		8.10	%
2019		10.94		19.95		3,062,801		41,971,971		0.00	%		0.30	%		2.00	%		17.69	%		19.71	%
2018		9.23		16.74		3,211,173		37,108,549		0.00	%		0.30	%		2.00	%		(23.71	)%		(22.39	)%
International Value Class I
2022	$	7.87	$	15.97		8,564,092	$	111,618,105		0.00	%		0.30	%		2.00	%		(3.22	)%		(1.56	)%
2021		8.12		16.24		8,967,932		120,222,276		0.00	%		0.30	%		2.00	%		17.98	%		20.00	%
2020		6.88		13.55		9,146,865		104,401,238		0.00	%		0.30	%		2.00	%		(9.01	)%		(7.45	)%
2019		7.56		14.66		9,225,209		114,596,679		0.00	%		0.30	%		2.00	%		14.29	%		16.25	%
2018		6.61		12.68		9,595,349		103,783,244		0.00	%		0.30	%		2.00	%		(16.65	)%		(15.21	)%

See Notes to Financial Statements

SA-80

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Health Sciences Class I
2022	$	10.06	$	94.07		6,978,977	$	290,035,336		0.00	%		0.30	%		2.00	%		(7.67	)%		(6.09	)%
2021		10.79		100.27		7,368,699		343,506,288		0.00	%		0.30	%		2.00	%		10.16	%		12.05	%
2020		17.10		89.57		7,254,306		319,284,574		0.00	%		0.30	%		2.00	%		16.43	%		18.43	%
2019		14.61		75.71		7,808,345		301,373,616		0.00	%		0.30	%		2.00	%		23.28	%		25.39	%
2018		11.79		60.44		8,381,895		269,301,230		0.00	%		0.30	%		2.00	%		5.75	%		7.57	%
Real Estate Class I
2022	$	9.27	$	61.08		4,308,652	$	104,649,198		0.00	%		0.30	%		2.00	%		(27.11	)%		(25.86	)%
2021		16.07		83.30		4,819,847		161,408,914		0.00	%		0.30	%		2.00	%		37.55	%		39.90	%
2020		12.54		60.20		4,888,497		124,841,396		0.00	%		0.30	%		2.00	%		(5.19	)%		(3.57	)%
2019		13.03		63.11		5,315,569		143,979,376		0.00	%		0.30	%		2.00	%		28.69	%		30.89	%
2018		9.98		48.75		5,741,006		121,398,736		0.00	%		0.30	%		2.00	%		(9.29	)%		(7.73	)%
Technology Class I
2022	$	6.88	$	24.73		7,575,806	$	147,240,460		0.00	%		0.30	%		2.00	%		(37.33	)%		(36.25	)%
2021		10.87		39.36		7,458,120		230,161,585		0.00	%		0.30	%		2.00	%		11.61	%		13.52	%
2020		17.05		35.18		7,706,962		208,731,278		0.00	%		0.30	%		2.00	%		44.33	%		46.80	%
2019		11.79		24.32		7,653,316		142,235,523		0.00	%		0.30	%		2.00	%		33.62	%		35.91	%
2018		8.80		18.15		7,966,233		109,014,566		0.00	%		0.30	%		2.00	%		(0.24	)%		1.48	%
ESG Diversified Class I
2022	$	8.61	$	9.96		977,900	$	8,536,826		0.00	%		0.30	%		1.85	%		(18.04	)%		(16.84	)%
05/17/2021 - 12/31/2021		10.42		10.66		458,078		4,850,097		0.00	%		0.30	%		1.75	%		6.49	%		6.49	%
ESG Diversified Class P (5)
12/07/2022 - 12/31/2022	$	8.70	$	8.70		52,658	$	457,958		0.00	%		0.45	%		0.45	%		(2.05	)%		(2.05	)%
ESG Diversified Growth Class I
2022	$	8.08	$	10.03		98,168	$	817,907		0.00	%		0.30	%		1.65	%		(19.06	)%		(18.49	)%
11/16/2021 - 12/31/2021		10.04		10.05		22,864		229,580		0.00	%		0.50	%		1.20	%		(0.57	)%		(0.57	)%
ESG Diversified Growth Class P (5)
09/28/2022 - 12/31/2022	$	9.35	$	9.35		2,201	$	20,588		0.00	%		0.45	%		0.45	%		5.38	%		5.38	%
PSF Avantis Balanced Allocation Class D
2022	$	8.78	$	13.96		23,391,029	$	298,038,547		0.00	%		0.30	%		2.00	%		(16.67	)%		(15.25	)%
2021		10.97		16.49		23,751,181		366,915,479		0.00	%		0.30	%		2.00	%		10.27	%		12.16	%
2020		12.90		14.72		20,364,483		287,800,621		0.00	%		0.30	%		2.00	%		9.89	%		11.77	%
2019		11.71		13.18		17,533,417		223,629,160		0.00	%		0.30	%		2.00	%		17.38	%		19.39	%
2018		9.95		11.05		13,984,638		150,670,897		0.00	%		0.30	%		2.00	%		(8.06	)%		(6.47	)%
PSF Avantis Balanced Allocation Class P
2022	$	9.27	$	9.27		192,749	$	1,786,007		0.00	%		0.45	%		0.45	%		(15.16	)%		(15.16	)%
06/25/2021 - 12/31/2021		10.92		10.92		147,178		1,607,448		0.00	%		0.45	%		0.45	%		4.00	%		4.00	%
Pacific Dynamix - Conservative Growth Class I
2022	$	8.81	$	20.45		31,221,950	$	447,596,518		0.00	%		0.30	%		2.00	%		(16.07	)%		(14.63	)%
2021		10.42		23.98		33,393,733		574,372,129		0.00	%		0.30	%		2.00	%		4.34	%		6.12	%
2020		12.68		22.62		34,235,499		566,126,949		0.00	%		0.30	%		2.00	%		9.99	%		11.88	%
2019		11.45		20.24		33,572,437		504,881,921		0.00	%		0.30	%		2.00	%		13.18	%		15.12	%
2018		10.05		17.60		34,320,308		457,602,754		0.00	%		0.30	%		2.00	%		(5.76	)%		(4.13	)%
Pacific Dynamix - Conservative Growth Class P
2022	$	8.87	$	8.89		181,540	$	1,612,087		0.00	%		0.45	%		0.60	%		(14.59	)%		(14.59	)%
08/13/2021 - 12/31/2021		10.41		10.41		7,555		78,662		0.00	%		0.45	%		0.45	%		0.74	%		0.74	%
Pacific Dynamix - Moderate Growth Class I
2022	$	8.58	$	25.10		136,624,336	$	2,142,087,307		0.00	%		0.30	%		2.00	%		(17.36	)%		(15.95	)%
2021		10.29		29.89		139,849,234		2,700,163,391		0.00	%		0.30	%		2.00	%		8.43	%		10.29	%
2020		13.22		27.13		136,145,159		2,492,898,271		0.00	%		0.30	%		2.00	%		12.31	%		14.24	%
2019		11.74		23.78		140,905,132		2,309,891,015		0.00	%		0.30	%		2.00	%		16.59	%		18.58	%
2018		10.04		20.07		144,819,535		2,056,345,198		0.00	%		0.30	%		2.00	%		(7.41	)%		(5.81	)%
Pacific Dynamix - Moderate Growth Class P
2022	$	8.96	$	8.99		61,197	$	549,060		0.00	%		0.45	%		0.60	%		(16.03	)%		(16.03	)%
09/09/2021 - 12/31/2021		10.67		10.67		17,514		186,894		0.00	%		0.60	%		0.60	%		0.93	%		0.93	%
Pacific Dynamix - Growth Class I
2022	$	10.09	$	30.30		79,846,588	$	1,451,741,930		0.00	%		0.30	%		2.00	%		(18.34	)%		(16.94	)%
2021		15.78		36.52		70,654,915		1,595,184,020		0.00	%		0.30	%		2.00	%		12.07	%		13.99	%
2020		14.01		32.07		52,279,480		1,095,441,256		0.00	%		0.30	%		2.00	%		13.50	%		15.44	%
2019		12.28		27.81		37,812,246		744,887,106		0.00	%		0.30	%		2.00	%		20.50	%		22.57	%
2018		10.14		22.71		37,185,605		622,881,911		0.00	%		0.30	%		2.00	%		(9.13	)%		(7.56	)%

See Notes to Financial Statements

SA-81

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Pacific Dynamix - Growth Class P
2022	$	9.09	$	9.09		90,287	$	820,481		0.00	%		0.45	%		0.45	%		(16.89	)%		(16.89	)%
02/19/2021 - 12/31/2021		10.93		10.93		21,700		237,290		0.00	%		0.45	%		0.45	%		9.07	%		9.07	%
Portfolio Optimization Conservative Class I
2022	$	8.60	$	13.06		92,539,434	$	1,049,691,691		0.00	%		0.30	%		2.00	%		(15.37	)%		(13.92	)%
2021		10.10		15.18		101,360,739		1,358,240,285		0.00	%		0.30	%		2.00	%		0.18	%		1.90	%
2020		11.66		14.92		115,277,984		1,534,716,340		0.00	%		0.30	%		2.00	%		5.75	%		7.56	%
2019		10.95		13.88		112,674,680		1,415,956,727		0.00	%		0.30	%		2.00	%		9.98	%		11.86	%
2018		9.89		12.42		122,666,989		1,395,000,702		0.00	%		0.30	%		2.00	%		(5.30	)%		(3.67	)%
Portfolio Optimization Moderate-Conservative Class I
2022	$	8.57	$	14.89		112,884,194	$	1,475,099,723		0.00	%		0.30	%		2.00	%		(16.59	)%		(15.16	)%
2021		10.44		17.57		128,206,662		2,000,947,661		0.00	%		0.30	%		2.00	%		4.18	%		5.96	%
2020		12.29		16.60		143,065,548		2,134,143,003		0.00	%		0.30	%		2.00	%		7.79	%		9.64	%
2019		11.32		15.15		160,008,744		2,202,281,279		0.00	%		0.30	%		2.00	%		13.00	%		14.93	%
2018		9.95		13.22		182,298,210		2,208,202,437		0.00	%		0.30	%		2.00	%		(6.88	)%		(5.27	)%
Portfolio Optimization Moderate Class I
2022	$	8.55	$	16.84		438,793,672	$	6,383,985,804		0.00	%		0.30	%		2.00	%		(17.38	)%		(15.97	)%
2021		10.25		20.13		491,458,484		8,618,931,342		0.00	%		0.30	%		2.00	%		7.02	%		8.85	%
2020		12.62		18.57		548,864,454		8,961,811,838		0.00	%		0.30	%		2.00	%		9.61	%		11.49	%
2019		11.49		16.73		615,901,678		9,125,390,297		0.00	%		0.30	%		2.00	%		16.11	%		18.10	%
2018		9.87		14.23		705,768,256		8,963,320,335		0.00	%		0.30	%		2.00	%		(8.41	)%		(6.83	)%
Portfolio Optimization Growth Class I
2022	$	8.51	$	19.11		358,621,932	$	5,762,258,741		0.00	%		0.30	%		2.00	%		(18.52	)%		(17.13	)%
2021		10.34		23.16		395,660,358		7,766,098,564		0.00	%		0.30	%		2.00	%		10.88	%		12.78	%
2020		14.62		20.63		439,483,300		7,748,073,547		0.00	%		0.30	%		2.00	%		10.49	%		12.39	%
2019		13.04		18.44		492,110,249		7,818,850,939		0.00	%		0.30	%		2.00	%		19.25	%		21.29	%
2018		10.77		15.27		563,059,591		7,468,425,206		0.00	%		0.30	%		2.00	%		(10.02	)%		(8.47	)%
Portfolio Optimization Aggressive-Growth Class I
2022	$	10.18	$	20.55		74,256,762	$	1,245,655,008		0.00	%		0.30	%		2.00	%		(19.14	)%		(17.75	)%
2021		15.35		25.10		81,124,035		1,675,735,514		0.00	%		0.30	%		2.00	%		13.39	%		15.34	%
2020		13.47		21.86		89,683,364		1,627,065,563		0.00	%		0.30	%		2.00	%		10.23	%		12.12	%
2019		12.16		19.59		101,347,267		1,659,745,072		0.00	%		0.30	%		2.00	%		21.31	%		23.39	%
2018		9.97		15.95		117,617,743		1,580,123,542		0.00	%		0.30	%		2.00	%		(11.20	)%		(9.67	)%
Invesco Oppenheimer V.I. International Growth Series I
2022	$	7.67	$	7.67		1,821	$	13,976		0.00	%		0.45	%		0.45	%		(27.46	)%		(27.46	)%
09/14/2021 - 12/31/2021		10.58		10.58		1,831		19,372		0.00	%		0.45	%		0.45	%		(4.10	)%		(4.10	)%
Invesco Oppenheimer V.I. International Growth Series II
2022	$	7.39	$	12.76		1,501,782	$	16,951,821		0.00	%		0.30	%		2.00	%		(28.61	)%		(27.38	)%
2021		10.24		17.57		1,482,842		23,274,851		0.00	%		0.30	%		2.00	%		7.94	%		9.79	%
2020		13.64		16.01		1,294,995		18,636,307		0.66	%		0.30	%		2.00	%		18.65	%		20.68	%
2019		11.50		13.26		1,226,707		14,698,332		0.72	%		0.30	%		2.00	%		25.42	%		27.57	%
2018		9.17		10.40		1,233,981		11,685,079		0.62	%		0.30	%		2.00	%		(21.15	)%		(19.79	)%
Invesco V.I. American Value Series I (5)
06/14/2022 - 12/31/2022	$	11.53	$	11.53		3,682	$	42,439		1.45	%		0.60	%		0.60	%		8.86	%		8.86	%
Invesco V.I. Balanced-Risk Allocation Series I
2022	$	8.99	$	8.99		13,320	$	119,801		16.06	%		0.45	%		0.45	%		(14.74	)%		(14.74	)%
06/18/2021 - 12/31/2021		10.55		10.55		2,210		23,313		5.92	%		0.45	%		0.45	%		3.27	%		3.27	%
Invesco V.I. Balanced-Risk Allocation Series II
2022	$	8.94	$	22.34		20,395,509	$	295,319,915		7.59	%		0.30	%		2.00	%		(16.21	)%		(14.77	)%
2021		10.60		26.24		17,862,609		314,671,401		2.97	%		0.30	%		2.00	%		7.10	%		8.93	%
2020		12.03		24.11		18,600,508		314,909,858		7.66	%		0.30	%		2.00	%		7.81	%		9.66	%
2019		11.02		22.01		20,202,936		320,444,489		0.00	%		0.30	%		2.00	%		12.61	%		14.54	%
2018		9.74		19.24		22,504,624		322,179,645		1.27	%		0.30	%		2.00	%		(8.57	)%		(6.99	)%
Invesco V.I. Discovery Mid Cap Growth Series I
2022	$	7.48	$	7.50		11,622	$	87,060		0.00	%		0.45	%		0.60	%		(31.39	)%		(31.29	)%
06/04/2021 - 12/31/2021		10.90		10.91		2,858		31,140		0.00	%		0.45	%		0.60	%		14.35	%		14.35	%
Invesco V.I. Equity and Income Series II
2022	$	10.40	$	16.51		3,539,176	$	54,004,557		1.43	%		0.30	%		2.00	%		(9.54	)%		(7.99	)%
2021		14.20		17.96		3,608,905		60,323,270		1.63	%		0.30	%		2.00	%		16.01	%		18.00	%
2020		12.18		15.24		3,865,857		55,228,668		2.23	%		0.30	%		2.00	%		7.48	%		9.32	%
2019		11.27		13.95		3,947,659		51,983,779		2.36	%		0.30	%		2.00	%		17.63	%		19.65	%
2018		9.54		11.67		3,724,610		41,332,203		2.07	%		0.30	%		2.00	%		(11.53	)%		(10.00	)%

See Notes to Financial Statements

SA-82

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Invesco V.I. EQV International Equity Series I (5),(6)
08/15/2022 - 09/16/2022	$	7.71	$	7.71		-	$	-		0.00	%		0.45	%		0.45	%		(8.89	)%		(8.89	)%
Invesco V.I. Global Real Estate Series II
2022	$	8.07	$	10.82		852,966	$	8,005,072		2.63	%		0.30	%		2.00	%		(26.62	)%		(25.37	)%
2021		10.88		14.50		817,251		10,349,102		2.67	%		0.30	%		2.00	%		22.96	%		25.07	%
2020		9.73		11.59		776,994		7,940,183		4.78	%		0.30	%		2.00	%		(14.30	)%		(12.82	)%
2019		11.35		13.30		810,384		9,561,900		3.62	%		0.30	%		2.00	%		20.22	%		22.28	%
2018		9.44		10.87		643,423		6,257,587		3.77	%		0.30	%		2.00	%		(8.20	)%		(6.62	)%
Invesco V.I. Global Series II
2022	$	9.74	$	15.36		1,274,354	$	17,645,552		0.00	%		0.30	%		2.00	%		(33.28	)%		(32.14	)%
2021		19.46		22.64		1,320,434		27,219,534		0.00	%		0.30	%		2.00	%		12.89	%		14.83	%
2020		17.12		19.72		1,257,546		22,746,069		0.43	%		0.30	%		2.00	%		24.82	%		26.96	%
2019		13.62		15.53		1,488,720		21,391,688		0.64	%		0.30	%		2.00	%		28.85	%		31.06	%
2018		10.50		11.85		1,385,063		15,319,920		0.85	%		0.30	%		2.00	%		(15.12	)%		(13.65	)%
Invesco V.I. Main Street Small Cap Fund Series I
2022	$	9.07	$	9.09		82,118	$	745,324		1.09	%		0.45	%		0.60	%		(16.34	)%		(16.21	)%
08/12/2021 - 12/31/2021		10.84		10.85		5,823		63,182		1.00	%		0.45	%		0.60	%		4.05	%		4.05	%
Invesco V.I. Nasdaq 100 Buffer - September Series I (5)
01/24/2022 - 12/31/2022	$	8.29	$	8.29		9,654	$	80,033		0.00	%		0.45	%		0.45	%		(16.15	)%		(16.15	)%
Invesco V.I. Nasdaq 100 Buffer - September Series II
2022	$	8.14	$	9.44		254,767	$	2,148,370		0.00	%		0.30	%		1.70	%		(22.09	)%		(21.39	)%
10/12/2021 - 12/31/2021		10.52		10.54		45,974		483,609		0.00	%		0.30	%		1.20	%		5.31	%		5.31	%
Invesco V.I. Nasdaq 100 Buffer - December Series I (5)
03/14/2022 - 12/31/2022	$	7.54	$	7.54		1,557	$	11,733		0.00	%		0.45	%		0.45	%		(12.80	)%		(12.80	)%
Invesco V.I. Nasdaq 100 Buffer - December Series II (5)
01/03/2022 - 12/31/2022	$	7.44	$	9.32		347,498	$	2,603,201		0.00	%		0.30	%		1.50	%		(25.39	)%		(25.39	)%
Invesco V.I. Nasdaq 100 Buffer - March Series I (5)
09/02/2022 - 12/31/2022	$	8.16	$	8.16		1,513	$	12,343		0.00	%		0.45	%		0.45	%		(6.34	)%		(6.34	)%
Invesco V.I. Nasdaq 100 Buffer - March Series II (5)
04/01/2022 - 12/31/2022	$	8.09	$	9.49		141,942	$	1,150,241		0.00	%		1.10	%		1.40	%		(18.97	)%		(18.97	)%
Invesco V.I. Nasdaq 100 Buffer - June Series II (5)
07/01/2022 - 12/31/2022	$	9.50	$	9.64		316,981	$	3,054,963		0.00	%		1.10	%		1.50	%		(3.70	)%		(3.56	)%
Invesco V.I. S&P 500 Buffer - September Series I
2022	$	9.42	$	9.42		40,765	$	383,911		0.00	%		0.45	%		0.45	%		(9.94	)%		(9.94	)%
11/11/2021 - 12/31/2021		10.46		10.46		1,769		18,496		0.00	%		0.45	%		0.45	%		1.12	%		1.12	%
Invesco V.I. S&P 500 Buffer - September Series II
2022	$	9.24	$	10.14		1,329,890	$	12,496,155		0.00	%		0.30	%		1.70	%		(11.17	)%		(10.01	)%
10/07/2021 - 12/31/2021		10.42		10.45		412,435		4,300,797		0.00	%		0.30	%		1.60	%		3.78	%		3.78	%
Invesco V.I. S&P 500 Buffer - December Series II (5)
01/03/2022 - 12/31/2022	$	8.74	$	10.12		939,885	$	8,251,270		0.00	%		0.30	%		1.50	%		(12.39	)%		(11.61	)%
Invesco V.I. S&P 500 Buffer - March Series II (5)
04/01/2022 - 12/31/2022	$	9.06	$	10.19		1,014,794	$	9,222,347		0.00	%		0.30	%		1.60	%		(9.38	)%		(8.50	)%
Invesco V.I. S&P 500 Buffer - June Series II (5)
07/01/2022 - 12/31/2022	$	10.04	$	10.07		824,362	$	8,302,382		0.00	%		1.10	%		1.50	%		0.59	%		0.74	%
Invesco V.I. Technology Series I
2022	$	6.28	$	6.30		82,946	$	521,325		0.00	%		0.45	%		0.60	%		(40.31	)%		(40.22	)%
06/22/2021 - 12/31/2021		10.52		10.53		13,090		137,846		0.00	%		0.45	%		0.60	%		3.85	%		3.85	%
American Century VP Mid Cap Value Class I (5)
06/14/2022 - 12/31/2022	$	11.54	$	11.57		15,076	$	174,265		2.97	%		0.45	%		0.60	%		6.36	%		6.36	%
American Century VP Mid Cap Value Class II
2022	$	10.05	$	26.36		4,624,001	$	100,582,036		2.11	%		0.30	%		2.00	%		(3.33	)%		(1.68	)%
2021		14.09		26.83		4,497,905		101,993,283		1.04	%		0.30	%		2.00	%		20.58	%		22.65	%
2020		11.63		21.90		4,475,406		84,023,806		1.67	%		0.30	%		2.00	%		(0.89	)%		0.81	%
2019		11.67		21.75		4,696,915		88,473,524		1.90	%		0.30	%		2.00	%		26.44	%		28.61	%
2018		9.19		16.93		4,648,111		69,290,350		1.27	%		0.30	%		2.00	%		(14.70	)%		(13.22	)%
American Funds IS American High-Income Trust Class 4
2022	$	9.17	$	13.29		3,641,673	$	45,384,912		7.12	%		0.30	%		1.95	%		(11.28	)%		(9.80	)%
2021		12.44		14.75		3,604,054		50,527,382		4.06	%		0.30	%		1.95	%		6.09	%		7.86	%
2020		11.65		13.69		2,696,891		35,347,472		8.06	%		0.30	%		1.95	%		5.66	%		7.41	%
2019		10.95		12.76		2,603,736		31,991,057		6.27	%		0.30	%		1.95	%		10.10	%		11.93	%
2018		9.88		11.41		1,818,203		20,145,019		5.59	%		0.30	%		1.95	%		(4.53	)%		(2.93	)%

See Notes to Financial Statements

SA-83

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
American Funds IS Asset Allocation Class 1
2022	$	9.64	$	9.67		291,614	$	2,815,698		2.79	%		0.45	%		0.60	%		(13.71	)%		(13.58	)%
06/07/2021 - 12/31/2021		11.17		11.19		151,172		1,689,315		3.87	%		0.45	%		0.60	%		4.62	%		4.62	%
American Funds IS Asset Allocation Class 4
2022	$	8.92	$	15.99		235,781,171	$	3,329,310,722		1.66	%		0.30	%		2.00	%		(15.37	)%		(13.92	)%
2021		10.44		18.66		243,553,523		4,084,199,482		1.36	%		0.30	%		2.00	%		12.57	%		14.50	%
2020		13.42		16.37		237,956,490		3,586,425,606		1.47	%		0.30	%		2.00	%		9.94	%		11.82	%
2019		12.14		14.71		243,250,672		3,309,209,188		1.73	%		0.30	%		2.00	%		18.53	%		20.56	%
2018		10.19		12.25		246,768,480		2,810,176,638		1.46	%		0.30	%		2.00	%		(6.73	)%		(5.12	)%
American Funds IS Capital Income Builder Class 1
2022	$	10.37	$	10.40		78,483	$	813,854		3.22	%		0.45	%		0.60	%		(7.45	)%		(7.31	)%
05/20/2021 - 12/31/2021		11.20		11.22		48,890		547,693		4.24	%		0.45	%		0.60	%		4.88	%		4.88	%
American Funds IS Capital Income Builder Class 4
2022	$	9.48	$	13.62		9,376,116	$	117,857,135		2.55	%		0.30	%		2.00	%		(9.21	)%		(7.65	)%
2021		12.80		14.75		9,400,974		129,329,044		2.52	%		0.30	%		2.00	%		12.41	%		14.34	%
2020		11.39		12.90		8,994,388		108,919,873		2.65	%		0.30	%		2.00	%		2.05	%		3.80	%
2019		11.16		12.43		9,363,187		110,011,255		2.68	%		0.30	%		2.00	%		15.29	%		17.27	%
2018		9.68		10.60		8,466,870		85,368,961		2.72	%		0.30	%		2.00	%		(9.10	)%		(7.53	)%
American Funds IS Capital World Bond Class 1 (5)
01/24/2022 - 12/31/2022	$	7.86	$	7.88		18,467	$	145,198		0.42	%		0.45	%		0.60	%		(16.91	)%		(16.91	)%
American Funds IS Capital World Bond Class 4
2022	$	7.87	$	9.83		2,381,252	$	21,437,187		0.21	%		0.30	%		1.95	%		(19.43	)%		(18.09	)%
2021		10.46		11.57		2,331,909		25,825,264		1.63	%		0.30	%		2.00	%		(6.92	)%		(5.46	)%
2020		11.22		12.24		1,710,525		20,165,750		1.11	%		0.30	%		2.00	%		7.45	%		9.29	%
2019		10.44		11.20		1,477,082		16,045,481		1.46	%		0.30	%		2.00	%		5.41	%		7.21	%
2018		9.90		10.45		1,258,572		12,821,962		2.20	%		0.30	%		2.00	%		(3.57	)%		(1.90	)%
American Funds IS Capital World Growth and Income Class 1
2022	$	9.09	$	9.12		14,549	$	132,542		3.97	%		0.45	%		0.60	%		(17.63	)%		(17.63	)%
08/10/2021 - 12/31/2021		11.04		11.04		4,259		47,010		4.11	%		0.60	%		0.60	%		3.00	%		3.00	%
American Funds IS Capital World Growth and Income Class 4
2022	$	10.53	$	15.48		4,314,793	$	63,410,506		2.16	%		0.30	%		2.00	%		(19.20	)%		(17.82	)%
2021		16.01		18.85		4,339,568		78,541,858		1.59	%		0.30	%		2.00	%		12.20	%		14.12	%
2020		14.20		16.54		3,388,396		54,092,872		1.16	%		0.30	%		2.00	%		6.40	%		8.22	%
2019		13.28		15.30		3,022,917		44,898,187		1.93	%		0.30	%		2.00	%		28.14	%		30.34	%
2018		10.31		11.75		2,456,273		28,176,906		1.68	%		0.30	%		2.00	%		(11.68	)%		(10.16	)%
American Funds IS Global Balanced Class 4
2022	$	10.27	$	13.87		5,130,674	$	67,782,176		0.00	%		0.30	%		2.00	%		(16.42	)%		(14.99	)%
2021		14.80		16.33		5,574,494		87,287,347		0.83	%		0.30	%		2.00	%		8.27	%		10.13	%
2020		13.67		14.85		4,845,740		69,376,992		0.89	%		0.30	%		2.00	%		7.82	%		9.67	%
2019		12.68		13.55		4,799,248		63,144,585		1.14	%		0.30	%		2.00	%		17.83	%		19.85	%
2018		10.76		11.32		4,336,770		47,966,295		1.17	%		0.30	%		2.00	%		(8.18	)%		(6.59	)%
American Funds IS Global Growth Class 1
2022	$	8.10	$	8.12		42,404	$	343,893		1.11	%		0.45	%		0.60	%		(24.99	)%		(24.88	)%
06/04/2021 - 12/31/2021		10.79		10.81		21,594		233,159		0.69	%		0.45	%		0.60	%		6.47	%		6.47	%
American Funds IS Global Growth Class 4
2022	$	7.89	$	20.36		7,747,403	$	144,568,416		0.45	%		0.30	%		2.00	%		(26.40	)%		(25.14	)%
2021		20.64		27.22		7,592,625		191,919,469		0.21	%		0.30	%		2.00	%		13.84	%		15.79	%
2020		18.04		23.54		6,822,409		150,256,254		0.16	%		0.30	%		2.00	%		27.59	%		29.78	%
2019		14.07		18.15		6,719,991		115,088,564		1.00	%		0.30	%		2.00	%		32.20	%		34.47	%
2018		10.59		13.51		6,148,518		78,942,770		0.55	%		0.30	%		2.00	%		(11.05	)%		(9.51	)%
American Funds IS Global Small Capitalization Class 4
2022	$	10.21	$	14.04		2,931,121	$	38,894,810		0.00	%		0.30	%		2.00	%		(31.08	)%		(29.90	)%
2021		17.53		20.03		2,600,282		49,766,826		0.00	%		0.30	%		2.00	%		4.32	%		6.11	%
2020		16.72		18.88		1,990,423		36,147,533		0.13	%		0.30	%		2.00	%		26.83	%		29.00	%
2019		13.12		14.64		1,840,128		26,084,787		0.01	%		0.30	%		2.00	%		28.65	%		30.85	%
2018		10.15		11.19		1,471,715		16,044,129		0.02	%		0.30	%		2.00	%		(12.58	)%		(11.07	)%
American Funds IS Growth Class 1
2022	$	7.93	$	7.95		249,427	$	1,980,437		0.87	%		0.45	%		0.60	%		(30.18	)%		(30.07	)%
06/09/2021 - 12/31/2021		11.36		11.37		39,950		454,078		0.90	%		0.45	%		0.60	%		11.93	%		11.93	%

See Notes to Financial Statements

SA-84

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
American Funds IS Growth Class 4
2022	$	7.67	$	25.39		26,097,738	$	552,304,014		0.10	%		0.30	%		2.00	%		(31.50	)%		(30.32	)%
2021		11.13		36.61		25,686,479		802,146,017		0.06	%		0.30	%		2.00	%		19.28	%		21.32	%
2020		21.83		30.31		24,975,444		648,933,173		0.20	%		0.30	%		2.00	%		48.71	%		51.26	%
2019		14.61		20.13		25,959,828		449,220,933		0.57	%		0.30	%		2.00	%		27.86	%		30.05	%
2018		11.37		15.55		26,297,274		352,634,575		0.26	%		0.30	%		2.00	%		(2.49	)%		(0.80	)%
American Funds IS Growth-Income Class 1
2022	$	9.91	$	9.94		170,804	$	1,696,274		1.84	%		0.45	%		0.60	%		(16.79	)%		(16.66	)%
05/27/2021 - 12/31/2021		11.91		11.92		39,377		469,308		2.69	%		0.45	%		0.60	%		9.90	%		9.90	%
American Funds IS Growth-Income Class 4
2022	$	8.98	$	20.13		23,213,330	$	410,711,351		1.07	%		0.30	%		2.00	%		(18.35	)%		(16.96	)%
2021		10.92		24.35		23,979,496		518,625,840		0.97	%		0.30	%		2.00	%		21.35	%		23.43	%
2020		15.15		19.82		22,979,190		406,479,221		1.16	%		0.30	%		2.00	%		11.01	%		12.91	%
2019		13.58		17.63		24,612,458		388,579,894		1.50	%		0.30	%		2.00	%		23.36	%		25.48	%
2018		10.95		14.12		25,499,425		323,650,289		1.25	%		0.30	%		2.00	%		(4.01	)%		(2.35	)%
American Funds IS International Class 1
2022	$	7.42	$	7.44		50,049	$	372,492		3.17	%		0.45	%		0.60	%		(20.93	)%		(20.93	)%
08/27/2021 - 12/31/2021		9.41		9.41		6,444		60,666		13.64	%		0.45	%		0.45	%		(5.48	)%		(5.48	)%
American Funds IS International Class 4
2022	$	9.85	$	12.17		7,919,990	$	85,102,087		1.54	%		0.30	%		2.00	%		(22.58	)%		(21.26	)%
2021		12.73		15.45		7,892,109		108,416,162		2.38	%		0.30	%		2.00	%		(3.66	)%		(2.01	)%
2020		13.21		15.77		7,177,101		101,270,614		0.45	%		0.30	%		2.00	%		11.41	%		13.32	%
2019		11.86		13.91		7,321,305		91,758,888		1.39	%		0.30	%		2.00	%		20.24	%		22.30	%
2018		9.86		11.38		5,877,732		60,534,823		1.63	%		0.30	%		2.00	%		(15.13	)%		(13.67	)%
American Funds IS International Growth and Income Class 1
2022	$	8.59	$	8.61		36,552	$	314,687		5.24	%		0.45	%		0.60	%		(15.51	)%		(15.39	)%
05/20/2021 - 12/31/2021		10.17		10.18		11,221		114,141		4.89	%		0.45	%		0.60	%		(1.00	)%		(1.00	)%
American Funds IS International Growth and Income Class 4
2022	$	8.07	$	12.75		4,829,629	$	51,926,368		2.80	%		0.30	%		2.00	%		(17.19	)%		(15.78	)%
2021		9.64		15.14		4,811,132		61,908,949		2.82	%		0.30	%		2.00	%		3.01	%		4.78	%
2020		11.54		14.45		4,731,166		58,569,477		1.33	%		0.30	%		2.00	%		3.64	%		5.42	%
2019		11.08		13.71		4,691,520		55,508,509		2.42	%		0.30	%		2.00	%		20.04	%		22.10	%
2018		9.18		11.23		4,409,965		43,001,936		2.08	%		0.30	%		2.00	%		(13.22	)%		(11.73	)%
American Funds IS Managed Risk Asset Allocation Class P1 (5)
03/09/2022 - 12/31/2022	$	9.42	$	9.42		30,658	$	288,898		4.82	%		0.45	%		0.60	%		(7.66	)%		(7.66	)%
06/30/2021 - 09/16/2021		10.76		10.76		-	$	-		0.00	%		0.45	%		0.45	%		1.59	%		1.59	%
American Funds IS Managed Risk Asset Allocation Class P2
2022	$	8.84	$	14.33		13,359,897	$	166,286,060		2.20	%		0.30	%		2.00	%		(15.67	)%		(14.23	)%
2021		10.95		16.73		12,857,346		193,789,068		1.36	%		0.30	%		2.00	%		10.28	%		12.17	%
2020		12.27		14.93		11,596,589		162,109,838		1.51	%		0.30	%		2.00	%		3.79	%		5.57	%
2019		11.76		14.15		10,804,760		144,266,036		2.29	%		0.30	%		2.00	%		15.65	%		17.63	%
2018		10.12		12.05		10,040,824		115,008,587		1.37	%		0.30	%		2.00	%		(6.79	)%		(5.18	)%
American Funds IS New World Fund Class 1
2022	$	7.55	$	7.57		121,178	$	916,665		1.78	%		0.45	%		0.60	%		(22.33	)%		(22.21	)%
04/15/2021 - 12/31/2021		9.72		9.73		44,148		429,397		3.02	%		0.45	%		0.60	%		0.47	%		0.47	%
American Funds IS New World Fund Class 4
2022	$	7.35	$	14.23		5,239,889	$	64,479,315		1.11	%		0.30	%		2.00	%		(23.79	)%		(22.49	)%
2021		9.56		18.35		5,135,808		82,196,698		0.67	%		0.30	%		2.00	%		2.56	%		4.32	%
2020		14.47		17.59		4,414,153		68,148,249		0.04	%		0.30	%		2.00	%		20.85	%		22.92	%
2019		11.97		14.31		4,568,328		57,614,643		0.79	%		0.30	%		2.00	%		26.27	%		28.43	%
2018		9.48		11.14		4,358,296		43,131,184		0.71	%		0.30	%		2.00	%		(15.96	)%		(14.51	)%
American Funds IS The Bond Fund of America Class 1
2022	$	8.70	$	8.72		347,156	$	3,028,029		4.55	%		0.45	%		0.60	%		(12.65	)%		(12.65	)%
09/14/2021 - 12/31/2021		9.99		9.99		10,280		102,679		8.15	%		0.45	%		0.45	%		(1.00	)%		(1.00	)%
American Funds IS The Bond Fund of America Class 4
2022	$	8.67	$	10.50		13,216,178	$	132,831,689		2.75	%		0.30	%		2.00	%		(14.47	)%		(13.01	)%
2021		10.94		12.08		13,089,539		152,326,203		1.34	%		0.30	%		2.00	%		(2.56	)%		(0.88	)%
2020		11.23		12.20		10,104,867		119,129,680		2.23	%		0.30	%		2.00	%		7.21	%		9.05	%
2019		10.48		11.20		6,600,411		71,857,165		2.80	%		0.30	%		2.00	%		6.92	%		8.75	%
2018		9.80		10.31		4,611,732		46,516,940		2.63	%		0.30	%		2.00	%		(2.71	)%		(1.18	)%

See Notes to Financial Statements

SA-85

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
American Funds IS U.S. Government Securities Class 1
2022	$	8.88	$	8.88		86,569	$	768,622		12.26	%		0.45	%		0.45	%		(11.15	)%		(11.15	)%
10/28/2021 - 12/31/2021		9.99		9.99		4,119		41,164		8.93	%		0.45	%		0.45	%		0.20	%		0.20	%
American Funds IS U.S. Government Securities Class 4
2022	$	8.84	$	10.52		6,026,456	$	58,958,044		3.42	%		0.30	%		2.00	%		(12.95	)%		(11.46	)%
2021		10.05		11.90		6,959,965		77,445,532		0.94	%		0.30	%		2.00	%		(2.84	)%		(1.17	)%
2020		10.75		12.05		10,237,716		115,980,599		1.89	%		0.30	%		2.00	%		7.32	%		9.15	%
2019		10.01		11.05		4,886,622		51,395,885		1.99	%		0.30	%		2.00	%		3.06	%		4.83	%
2018		9.72		10.55		4,222,318		42,708,133		1.72	%		0.30	%		2.00	%		(1.45	)%		0.20	%
American Funds IS Washington Mutual Investors Class 1
2022	$	11.03	$	11.07		68,968	$	762,977		3.24	%		0.45	%		0.60	%		(8.69	)%		(8.69	)%
06/15/2021 - 12/31/2021		12.12		12.12		15,591		188,936		3.54	%		0.45	%		0.45	%		10.46	%		10.46	%
American Funds IS Washington Mutual Investors Class 4
2022	$	9.90	$	18.31		11,726,592	$	200,075,999		1.79	%		0.30	%		2.00	%		(10.49	)%		(8.96	)%
2021		10.98		20.13		10,929,163		208,192,004		1.33	%		0.30	%		2.00	%		24.99	%		27.13	%
2020		12.69		15.85		9,569,016		144,970,879		1.63	%		0.30	%		2.00	%		6.32	%		8.15	%
2019		11.88		14.67		8,965,013		126,418,067		2.08	%		0.30	%		2.00	%		18.64	%		20.67	%
2018		9.96		12.17		7,269,940		85,722,867		1.96	%		0.30	%		2.00	%		(10.73	)%		(9.19	)%
BlackRock 60/40 Target Allocation ETF V.I. Class I
2022	$	8.79	$	14.54		14,271,032	$	190,448,788		2.24	%		0.30	%		2.00	%		(16.51	)%		(15.08	)%
2021		10.42		17.13		11,615,970		187,350,089		2.29	%		0.30	%		2.00	%		9.78	%		11.66	%
2020		13.81		15.36		7,597,641		110,851,315		1.99	%		0.30	%		2.00	%		12.57	%		14.32	%
2019		12.26		13.45		4,721,834		60,649,968		3.32	%		0.30	%		1.85	%		19.18	%		21.04	%
2018		10.25		11.12		2,089,209		22,306,050		0.99	%		0.30	%		1.95	%		(6.70	)%		(5.23	)%
BlackRock Capital Appreciation V.I. Class III
2022	$	24.73	$	34.17		1,036,425	$	31,190,321		0.00	%		0.75	%		1.50	%		(38.74	)%		(38.28	)%
2021		40.37		55.36		900,633		43,998,422		0.00	%		0.75	%		1.50	%		19.09	%		19.99	%
2020		33.90		46.14		1,006,731		41,083,886		0.00	%		0.75	%		1.50	%		39.41	%		40.46	%
2019		24.32		32.85		1,292,645		37,523,740		0.00	%		0.75	%		1.50	%		29.59	%		30.57	%
2018		18.76		25.16		1,475,578		32,796,365		0.00	%		0.75	%		1.50	%		0.60	%		1.36	%
BlackRock Equity Dividend V.I. Class I
2022	$	10.97	$	11.00		69,864	$	768,528		1.87	%		0.45	%		0.60	%		(4.42	)%		(4.42	)%
12/07/2021 - 12/31/2021		11.48		11.48		31,382		360,240		2.88	%		0.60	%		0.60	%		2.02	%		2.02	%
BlackRock Global Allocation V.I. Class I
2022	$	8.60	$	8.60		123,714	$	1,063,372		0.00	%		0.45	%		0.45	%		(16.24	)%		(16.24	)%
08/13/2021 - 12/31/2021		10.26		10.26		2,484		25,488		1.23	%		0.45	%		0.45	%		(0.84	)%		(0.84	)%
BlackRock Global Allocation V.I. Class III
2022	$	8.22	$	16.92		85,813,546	$	1,192,222,701		0.00	%		0.30	%		2.00	%		(17.73	)%		(16.32	)%
2021		9.90		20.24		93,695,265		1,587,846,702		0.82	%		0.30	%		2.00	%		4.31	%		6.10	%
2020		13.51		19.09		98,050,229		1,608,721,024		1.26	%		0.30	%		2.00	%		18.32	%		20.35	%
2019		11.36		15.88		111,381,280		1,537,219,217		1.20	%		0.30	%		2.00	%		15.42	%		17.40	%
2018		9.79		13.54		132,460,071		1,575,516,857		0.81	%		0.30	%		2.00	%		(9.42	)%		(7.86	)%
BlackRock High Yield V.I. Class I
2022	$	9.23	$	9.26		65,450	$	605,626		5.54	%		0.45	%		0.60	%		(10.89	)%		(10.75	)%
06/04/2021 - 12/31/2021		10.36		10.37		15,776		163,491		4.47	%		0.45	%		0.60	%		2.10	%		2.10	%
BlackRock S&P 500 Index V.I. Class I
2022	$	9.97	$	10.00		92,239	$	921,539		2.81	%		0.45	%		0.60	%		(18.72	)%		(18.60	)%
07/28/2021 - 12/31/2021		12.26		12.28		17,525		215,186		3.68	%		0.45	%		0.60	%		8.71	%		8.71	%
BlackRock Small Cap Index V.I. Class I
2022	$	7.74	$	7.76		451,935	$	3,506,533		2.34	%		0.45	%		0.60	%		(20.94	)%		(20.82	)%
04/15/2021 - 12/31/2021		9.79		9.80		43,597		427,096		3.62	%		0.45	%		0.60	%		(0.20	)%		(0.20	)%
BlackRock Total Return V.I. Class I
2022	$	8.44	$	8.47		128,322	$	1,086,169		2.88	%		0.45	%		0.60	%		(14.44	)%		(14.44	)%
12/07/2021 - 12/31/2021		9.90		9.90		5,869		58,074		1.93	%		0.45	%		0.45	%		(0.18	)%		(0.18	)%
Delaware Ivy VIP Asset Strategy Class II
2022	$	8.88	$	14.51		1,803,794	$	19,255,483		1.77	%		0.30	%		2.00	%		(16.43	)%		(14.99	)%
2021		10.55		17.08		1,508,099		19,824,061		1.81	%		0.30	%		2.00	%		8.26	%		10.11	%
2020		11.87		15.51		1,158,794		14,484,570		1.94	%		0.30	%		2.00	%		11.62	%		13.54	%
2019		10.63		13.66		1,352,169		15,018,915		2.08	%		0.30	%		2.00	%		19.37	%		21.41	%
2018		8.91		11.25		1,483,636		13,696,205		1.83	%		0.30	%		2.00	%		(7.32	)%		(5.72	)%

See Notes to Financial Statements

SA-86

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Delaware Ivy VIP Energy Class II
2022	$	6.52	$	11.77		8,944,575	$	62,286,813		2.92	%		0.30	%		2.00	%		47.50	%		50.02	%
2021		4.42		5.43		7,973,963		37,055,143		1.65	%		0.30	%		2.00	%		39.19	%		41.57	%
2020		3.18		3.87		5,774,234		19,132,655		2.22	%		0.30	%		2.00	%		(38.09	)%		(37.02	)%
2019		5.13		5.78		2,985,245		15,845,384		0.00	%		0.30	%		2.00	%		1.43	%		3.17	%
2018		5.06		5.61		2,874,689		14,926,807		0.00	%		0.30	%		2.00	%		(35.45	)%		(34.34	)%
DFA VA Equity Allocation Institutional Class
2022	$	9.96	$	9.99		15,034	$	149,925		1.87	%		0.45	%		0.60	%		(14.20	)%		(14.07	)%
08/10/2021 - 12/31/2021		11.61		11.62		11,872		137,853		6.15	%		0.45	%		0.60	%		4.41	%		4.41	%
DFA VA Global Bond Institutional Class
2022	$	9.16	$	9.19		44,252	$	406,422		1.77	%		0.45	%		0.60	%		(6.89	)%		(6.75	)%
06/29/2021 - 12/31/2021		9.84		9.86		34,026		335,219		2.34	%		0.45	%		0.60	%		(1.43	)%		(1.43	)%
DFA VA Global Moderate Allocation Institutional Class
2022	$	9.66	$	9.69		37,988	$	367,827		2.84	%		0.45	%		0.60	%		(11.49	)%		(11.36	)%
08/10/2021 - 12/31/2021		10.92		10.93		16,225		177,207		4.68	%		0.45	%		0.60	%		2.29	%		2.29	%
DFA VA International Small Institutional Class
2022	$	8.88	$	8.90		37,415	$	332,811		4.05	%		0.45	%		0.60	%		(18.14	)%		(18.01	)%
07/08/2021 - 12/31/2021		10.85		10.86		16,625		180,386		7.96	%		0.45	%		0.60	%		2.45	%		2.45	%
DFA VA International Value Institutional Class
2022	$	10.74	$	10.77		127,002	$	1,366,252		5.41	%		0.45	%		0.60	%		(4.03	)%		(3.89	)%
06/15/2021 - 12/31/2021		11.19		11.20		67,675		757,530		13.70	%		0.45	%		0.60	%		(2.67	)%		(2.67	)%
DFA VA Short-Term Fixed Institutional Class
2022	$	9.75	$	9.78		247,160	$	2,416,407		2.23	%		0.45	%		0.60	%		(1.75	)%		(1.60	)%
08/11/2021 - 12/31/2021		9.93		9.94		43,736		434,668		0.02	%		0.45	%		0.60	%		(0.42	)%		(0.42	)%
DFA VA US Large Value Institutional Class
2022	$	11.25	$	11.28		251,430	$	2,835,299		3.55	%		0.45	%		0.60	%		(5.45	)%		(5.30	)%
06/04/2021 - 12/31/2021		11.90		11.91		34,289		408,262		4.42	%		0.45	%		0.60	%		2.58	%		2.58	%
DFA VA US Targeted Value Institutional Class
2022	$	11.51	$	11.55		82,020	$	946,243		1.57	%		0.45	%		0.60	%		(4.79	)%		(4.64	)%
04/15/2021 - 12/31/2021		12.09		12.11		44,610		539,712		3.99	%		0.45	%		0.60	%		8.94	%		8.94	%
Fidelity VIP Consumer Discretionary Initial Class (5)
12/27/2022 - 12/31/2022	$	7.26	$	7.26		520	$	3,776		0.00	%		0.45	%		0.45	%		1.16	%		1.16	%
Fidelity VIP Contrafund Initial Class
2022	$	8.92	$	8.95		41,710	$	372,591		0.81	%		0.45	%		0.60	%		(26.75	)%		(26.64	)%
05/20/2021 - 12/31/2021		12.18		12.20		10,575		128,888		0.00	%		0.45	%		0.60	%		18.38	%		18.38	%
Fidelity VIP Contrafund Service Class 2
2022	$	8.47	$	26.93		11,942,263	$	275,966,970		0.27	%		0.30	%		2.00	%		(27.94	)%		(26.71	)%
2021		11.65		36.78		11,743,628		381,230,239		0.03	%		0.30	%		2.00	%		24.99	%		27.13	%
2020		17.09		28.96		11,335,278		293,430,933		0.08	%		0.30	%		2.00	%		27.66	%		29.84	%
2019		13.32		22.33		11,865,835		239,600,500		0.22	%		0.30	%		2.00	%		28.68	%		30.88	%
2018		10.30		17.08		11,658,277		181,793,911		0.44	%		0.30	%		2.00	%		(8.50	)%		(6.92	)%
Fidelity VIP Emerging Markets Initial Class
2022	$	6.96	$	6.98		81,945	$	571,791		3.56	%		0.45	%		0.60	%		(20.59	)%		(20.47	)%
06/04/2021 - 12/31/2021		8.77		8.78		14,544		127,579		6.27	%		0.45	%		0.60	%		(12.18	)%		(12.18	)%
Fidelity VIP Energy Initial Class
2022	$	21.89	$	21.95		32,901	$	721,434		4.06	%		0.45	%		0.60	%		62.21	%		62.21	%
05/20/2021 - 12/31/2021		13.50		13.50		5,344		72,125		3.23	%		0.60	%		0.60	%		13.29	%		13.29	%
Fidelity VIP Extended Market Index Initial Class
2022	$	8.70	$	8.72		158,402	$	1,380,101		1.66	%		0.45	%		0.60	%		(18.61	)%		(18.49	)%
04/15/2021 - 12/31/2021		10.69		10.70		69,294		740,679		8.35	%		0.45	%		0.60	%		3.63	%		3.63	%
Fidelity VIP FundsManager 60% Investor Class (5)
12/07/2022 - 12/31/2022	$	9.78	$	9.78		538,685	$	5,266,017		See Note (7)			1.00	%		1.00	%		(1.80	)%		(1.80	)%
Fidelity VIP FundsManager 60% Service Class 2
2022	$	8.73	$	18.53		25,259,177	$	372,173,872		1.68	%		0.30	%		2.00	%		(16.93	)%		(15.50	)%
2021		10.40		21.96		23,783,824		434,687,452		0.97	%		0.30	%		2.00	%		9.99	%		11.87	%
2020		13.69		19.65		21,137,865		364,926,775		0.93	%		0.30	%		2.00	%		12.64	%		14.58	%
2019		12.07		17.16		20,252,337		309,354,003		1.40	%		0.30	%		2.00	%		17.87	%		19.89	%
2018		10.16		14.33		20,000,705		258,479,033		1.15	%		0.30	%		2.00	%		(8.37	)%		(6.79	)%
Fidelity VIP Government Money Market Initial Class
2022	$	10.03	$	10.06		1,576,714	$	15,846,777		2.27	%		0.45	%		0.60	%		0.83	%		0.98	%
06/23/2021 - 12/31/2021		9.95		9.96		42,486		422,970		0.01	%		0.45	%		0.60	%		(0.31	)%		(0.31	)%

See Notes to Financial Statements

SA-87

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Fidelity VIP Government Money Market Service Class
2022	$	8.91	$	10.39		52,653,369	$	502,225,940		1.46	%		0.30	%		2.00	%		(0.64	)%		1.06	%
2021		8.97		10.28		40,954,210		390,780,434		0.01	%		0.30	%		2.00	%		(1.97	)%		(0.29	)%
2020		9.15		10.31		50,158,206		482,675,916		0.22	%		0.30	%		2.00	%		(1.71	)%		(0.02	)%
2019		9.30		10.32		32,145,243		312,107,403		1.88	%		0.30	%		2.00	%		(0.10	)%		1.61	%
2018		9.31		10.15		31,093,930		298,387,548		1.55	%		0.30	%		2.00	%		(0.47	)%		1.25	%
Fidelity VIP Growth Opportunities Initial Class
2022	$	6.14	$	6.16		56,819	$	349,498		0.00	%		0.45	%		0.60	%		(38.52	)%		(38.43	)%
09/02/2021 - 12/31/2021		9.98		10.00		3,896		38,898		0.00	%		0.45	%		0.60	%		(5.79	)%		(5.79	)%
Fidelity VIP Index 500 Initial Class
2022	$	9.97	$	10.00		299,731	$	2,993,041		2.08	%		0.45	%		0.60	%		(18.58	)%		(18.58	)%
06/15/2021 - 12/31/2021		12.28		12.28		6,562		80,594		2.74	%		0.45	%		0.45	%		12.71	%		12.71	%
Fidelity VIP Investment Grade Bond Initial Class
2022	$	8.60	$	8.63		144,963	$	1,250,644		4.92	%		0.45	%		0.60	%		(13.48	)%		(13.35	)%
09/02/2021 - 12/31/2021		9.94		9.96		6,818		67,828		5.47	%		0.45	%		0.60	%		(1.08	)%		(1.08	)%
Fidelity VIP Strategic Income Service Class 2
2022	$	8.89	$	11.97		7,296,355	$	81,030,938		3.37	%		0.30	%		2.00	%		(13.27	)%		(11.78	)%
2021		10.14		13.58		7,822,262		99,315,045		2.51	%		0.30	%		2.00	%		1.48	%		3.22	%
2020		11.52		13.17		7,026,620		87,077,019		3.25	%		0.30	%		2.00	%		5.04	%		6.84	%
2019		10.89		12.34		6,770,188		79,193,872		3.51	%		0.30	%		2.00	%		8.46	%		10.32	%
2018		9.97		11.20		5,371,527		57,472,420		3.77	%		0.30	%		2.00	%		(4.76	)%		(3.12	)%
Fidelity VIP Value Strategies Initial Class
2022	$	11.20	$	11.24		54,117	$	607,098		1.59	%		0.45	%		0.60	%		(7.58	)%		(7.44	)%
06/04/2021 - 12/31/2021		12.12		12.14		13,422		162,885		3.57	%		0.45	%		0.60	%		3.81	%		3.81	%
First Trust Dorsey Wright Tactical Core Class I
2022	$	9.77	$	13.72		2,657,693	$	33,444,112		1.48	%		0.30	%		2.00	%		(18.69	)%		(17.30	)%
2021		14.65		16.59		3,226,339		49,725,811		0.39	%		0.30	%		2.00	%		11.62	%		13.53	%
2020		13.09		14.61		2,656,872		36,362,021		0.48	%		0.30	%		2.00	%		8.89	%		10.76	%
2019		11.99		13.19		2,969,833		37,027,305		0.63	%		0.30	%		2.00	%		18.59	%		20.63	%
2018		10.08		10.94		2,604,023		27,160,582		0.40	%		0.30	%		2.00	%		(9.78	)%		(8.36	)%
First Trust Multi Income Allocation Class I
2022	$	10.12	$	13.46		1,434,676	$	17,794,708		2.84	%		0.30	%		1.85	%		(9.21	)%		(7.80	)%
2021		10.49		14.61		1,563,332		21,222,052		2.34	%		0.30	%		1.85	%		10.62	%		12.35	%
2020		11.05		13.02		1,416,254		17,366,681		2.22	%		0.30	%		1.85	%		0.61	%		2.18	%
2019		10.97		12.75		1,339,559		16,214,326		2.48	%		0.30	%		1.85	%		14.25	%		16.03	%
2018		9.59		11.00		1,249,607		13,161,907		2.50	%		0.30	%		1.85	%		(6.20	)%		(4.72	)%
First Trust/Dow Jones Dividend & Income Allocation Class I
2022	$	9.05	$	19.21		37,836,927	$	593,648,878		1.42	%		0.30	%		2.00	%		(13.94	)%		(12.46	)%
2021		10.94		21.97		37,604,224		701,796,584		0.94	%		0.30	%		2.00	%		10.03	%		11.91	%
2020		12.81		19.65		38,413,073		662,991,395		1.49	%		0.30	%		2.00	%		5.67	%		7.48	%
2019		12.09		18.30		39,723,807		647,137,550		1.59	%		0.30	%		2.00	%		18.38	%		20.41	%
2018		10.19		15.22		38,964,983		535,422,561		1.55	%		0.30	%		2.00	%		(6.81	)%		(5.20	)%
Franklin Allocation VIP Class 2
2022	$	16.13	$	19.22		1,187,062	$	21,458,071		1.62	%		0.75	%		1.50	%		(17.25	)%		(16.63	)%
2021		19.50		23.05		1,273,977		27,644,825		1.73	%		0.75	%		1.50	%		10.02	%		10.85	%
2020		17.72		20.80		1,319,963		25,870,236		1.49	%		0.75	%		1.50	%		10.08	%		10.91	%
2019		16.10		18.75		1,342,099		23,727,646		3.55	%		0.75	%		1.50	%		18.07	%		18.96	%
2018		13.63		15.76		1,325,154		19,722,357		3.06	%		0.75	%		1.50	%		(11.00	)%		(10.33	)%
Franklin Allocation VIP Class 4
2022	$	8.73	$	17.33		15,596,987	$	219,460,932		1.49	%		0.30	%		2.00	%		(17.85	)%		(16.44	)%
2021		10.94		20.92		15,926,805		277,311,223		1.58	%		0.30	%		2.00	%		9.33	%		11.20	%
2020		13.59		19.06		16,724,233		269,024,656		1.34	%		0.30	%		2.00	%		9.54	%		11.42	%
2019		12.22		17.33		18,217,777		266,689,325		3.32	%		0.30	%		2.00	%		17.19	%		19.20	%
2018		10.27		14.73		20,456,672		254,733,392		2.87	%		0.30	%		2.00	%		(11.38	)%		(9.85	)%
Franklin Income VIP Class 1 (5)
03/07/2022 - 12/31/2022	$	10.71	$	10.74		22,536	$	241,993		6.77	%		0.45	%		0.60	%		(4.88	)%		(4.88	)%
Franklin Income VIP Class 2
2022	$	10.18	$	13.66		4,782,643	$	60,618,834		5.06	%		0.30	%		2.00	%		(7.34	)%		(5.76	)%
2021		12.92		14.49		4,105,312		55,940,034		4.68	%		0.30	%		2.00	%		14.44	%		16.40	%
2020		11.29		12.45		4,573,894		53,969,144		6.00	%		0.30	%		2.00	%		(1.30	)%		0.39	%
2019		11.44		12.40		4,714,785		55,900,700		5.31	%		0.30	%		2.00	%		13.76	%		15.71	%
2018		10.05		10.72		3,727,163		38,547,708		4.81	%		0.30	%		2.00	%		(6.21	)%		(4.59	)%

See Notes to Financial Statements

SA-88

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Franklin Mutual Global Discovery VIP Class 2
2022	$	10.54	$	21.57		8,376,154	$	150,268,819		1.37	%		0.30	%		2.00	%		(6.63	)%		(5.03	)%
2021		13.70		22.82		9,674,845		184,263,585		2.59	%		0.30	%		2.00	%		16.77	%		18.77	%
2020		11.56		19.30		11,609,935		188,576,655		2.41	%		0.30	%		2.00	%		(6.36	)%		(4.75	)%
2019		12.16		20.35		12,150,356		206,820,911		1.61	%		0.30	%		2.00	%		21.91	%		24.00	%
2018		9.83		16.49		13,449,622		186,078,604		2.35	%		0.30	%		2.00	%		(12.99	)%		(11.48	)%
Franklin Mutual Shares VIP Class 1 (5)
05/13/2022 - 12/31/2022	$	10.57	$	10.57		5,119	$	54,124		3.56	%		0.45	%		0.45	%		(0.63	)%		(0.63	)%
Franklin Rising Dividends VIP Class 1
2022	$	11.10	$	11.14		76,816	$	854,353		1.09	%		0.45	%		0.60	%		(10.88	)%		(10.88	)%
05/20/2021 - 12/31/2021		12.46		12.46		7,469		93,075		1.10	%		0.60	%		0.60	%		14.94	%		14.94	%
Franklin Rising Dividends VIP Class 2
2022	$	10.05	$	28.83		9,023,367	$	221,584,639		0.81	%		0.30	%		2.00	%		(12.34	)%		(10.84	)%
2021		11.37		32.37		9,335,978		264,342,579		0.85	%		0.30	%		2.00	%		24.28	%		26.41	%
2020		15.52		25.63		9,362,137		212,785,729		1.24	%		0.30	%		2.00	%		13.67	%		15.62	%
2019		13.58		22.19		10,256,753		203,835,964		1.23	%		0.30	%		2.00	%		26.67	%		28.84	%
2018		10.67		17.24		9,931,707		154,894,538		1.26	%		0.30	%		2.00	%		(6.97	)%		(5.36	)%
Franklin Small Cap Value VIP Class 1 (5)
01/13/2022 - 12/31/2022	$	10.18	$	10.18		13,128	$	133,630		0.97	%		0.45	%		0.45	%		(11.79	)%		(11.79	)%
Franklin Small-Mid Cap Growth VIP Class 1
2022	$	6.68	$	6.68		55,186	$	368,690		0.00	%		0.45	%		0.45	%		(33.82	)%		(33.82	)%
07/28/2021 - 12/31/2021		10.09		10.09		7,766		78,393		0.00	%		0.45	%		0.45	%		(1.77	)%		(1.77	)%
Franklin Strategic Income VIP Class 1
2022	$	9.00	$	9.02		33,823	$	305,048		4.55	%		0.45	%		0.60	%		(10.86	)%		(10.86	)%
12/30/2021 - 12/31/2021		10.12		10.12		3,442		34,836		0.00	%		0.45	%		0.45	%		0.00	%		0.00	%
Templeton Foreign VIP Class 1
2022	$	9.08	$	9.08		3,088	$	28,042		3.37	%		0.45	%		0.45	%		(7.80	)%		(7.80	)%
10/19/2021 - 12/31/2021		9.85		9.85		3,183		31,348		0.00	%		0.45	%		0.45	%		(4.22	)%		(4.22	)%
Templeton Global Bond VIP Class 1
2022	$	9.01	$	9.04		11,819	$	106,732		0.00	%		0.45	%		0.60	%		(5.42	)%		(5.27	)%
06/04/2021 - 12/31/2021		9.53		9.54		6,122		58,358		0.00	%		0.45	%		0.60	%		(3.69	)%		(3.69	)%
Templeton Global Bond VIP Class 2
2022	$	7.52	$	10.60		7,088,492	$	58,866,304		0.00	%		0.30	%		2.00	%		(6.83	)%		(5.23	)%
2021		8.05		11.24		8,116,103		71,643,504		0.00	%		0.30	%		2.00	%		(6.87	)%		(5.28	)%
2020		8.63		11.92		8,259,570		77,421,248		8.30	%		0.30	%		2.00	%		(7.16	)%		(5.56	)%
2019		9.28		12.67		9,186,153		91,721,794		7.09	%		0.30	%		2.00	%		(0.01	)%		1.71	%
2018		9.26		12.52		9,627,263		95,140,630		0.00	%		0.30	%		2.00	%		(0.09	)%		1.63	%
Goldman Sachs VIT Large Cap Value Institutional Shares (5)
04/06/2022 - 12/31/2022	$	11.09	$	11.12		5,265	$	58,409		2.34	%		0.45	%		0.60	%		(5.35	)%		(5.35	)%
Goldman Sachs VIT Mid Cap Value Institutional Shares
2022	$	11.03	$	11.03		17,620	$	194,311		0.72	%		0.45	%		0.45	%		(10.39	)%		(10.39	)%
06/15/2021 - 12/31/2021		12.31		12.31		9,306		114,529		0.95	%		0.45	%		0.45	%		11.09	%		11.09	%
Goldman Sachs VIT Strategic Growth Institutional Shares (5)
05/13/2022 - 12/31/2022	$	7.73	$	7.73		13,477	$	104,210		0.00	%		0.45	%		0.45	%		(7.21	)%		(7.21	)%
Goldman Sachs VIT Trends Driven Allocation Institutional Shares (5)
04/14/2022 - 12/31/2022	$	8.94	$	8.94		26,381	$	235,780		0.00	%		0.60	%		0.60	%		(12.14	)%		(12.14	)%
Janus Henderson Balanced Institutional Shares
2022	$	9.57	$	9.57		241,281	$	2,309,472		1.30	%		0.45	%		0.45	%		(16.78	)%		(16.78	)%
04/08/2021 - 12/31/2021		11.50		11.50		162,862		1,873,093		1.46	%		0.45	%		0.45	%		12.00	%		12.00	%
Janus Henderson Balanced Service Shares
2022	$	9.08	$	20.78		308,691,102	$	5,038,948,579		1.10	%		0.30	%		2.00	%		(18.27	)%		(16.87	)%
2021		11.00		25.02		278,642,992		5,810,489,351		0.69	%		0.30	%		2.00	%		14.59	%		16.56	%
2020		14.95		21.48		221,575,730		4,242,264,305		1.56	%		0.30	%		2.00	%		11.77	%		13.69	%
2019		13.30		18.92		185,974,655		3,171,059,795		1.71	%		0.30	%		2.00	%		19.85	%		21.91	%
2018		11.05		15.53		151,998,954		2,154,003,803		1.79	%		0.30	%		2.00	%		(1.57	)%		0.13	%
Janus Henderson Enterprise Institutional Shares
2022	$	9.35	$	9.38		64,087	$	599,707		0.02	%		0.45	%		0.60	%		(16.32	)%		(16.32	)%
11/10/2021 - 12/31/2021		11.21		11.21		1,063		11,914		0.00	%		0.45	%		0.45	%		0.29	%		0.29	%

See Notes to Financial Statements

SA-89

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Janus Henderson Flexible Bond Service Shares
2022	$	9.15	$	10.51		3,071,967	$	29,944,473		1.98	%		0.30	%		2.00	%		(15.60	)%		(14.16	)%
2021		10.84		12.25		3,371,293		38,644,273		1.62	%		0.30	%		2.00	%		(3.07	)%		(1.41	)%
2020		11.18		12.44		3,367,311		39,512,445		2.49	%		0.30	%		2.00	%		8.07	%		9.92	%
2019		10.35		11.33		2,797,058		30,110,415		2.86	%		0.30	%		2.00	%		7.11	%		8.95	%
2018		9.66		10.41		2,570,835		25,650,617		2.64	%		0.30	%		2.00	%		(3.25	)%		(1.58	)%
JPMorgan Insurance Trust Core Bond Class 1
2022	$	8.62	$	14.02		12,696	$	172,918		1.92	%		0.45	%		1.60	%		(13.96	)%		(12.97	)%
2021		9.90		16.26		10,896		173,997		1.86	%		0.45	%		1.60	%		(2.92	)%		(2.73	)%
2020		16.17		16.72		10,472		174,914		2.05	%		1.40	%		1.60	%		6.13	%		6.35	%
2019		15.24		15.72		11,823		185,713		2.50	%		1.40	%		1.60	%		6.46	%		6.67	%
2018		14.31		14.74		11,899		175,221		2.46	%		1.40	%		1.60	%		(1.55	)%		(1.35	)%
JPMorgan Insurance Trust Global Allocation Class 2
2022	$	10.01	$	13.22		876,062	$	10,664,227		1.41	%		0.30	%		1.85	%		(19.33	)%		(18.07	)%
2021		14.28		16.14		940,958		14,092,258		0.81	%		0.30	%		1.85	%		7.26	%		8.94	%
2020		13.32		14.81		941,553		13,072,807		1.69	%		0.30	%		1.85	%		13.28	%		15.05	%
2019		11.75		12.87		980,418		11,941,301		2.06	%		0.30	%		2.00	%		14.44	%		16.23	%
2018		10.21		11.08		993,900		10,545,527		0.00	%		0.30	%		2.00	%		(8.18	)%		(6.59	)%
JPMorgan Insurance Trust Income Builder Class 2
2022	$	10.02	$	12.11		1,020,221	$	11,512,389		3.63	%		0.30	%		1.85	%		(14.11	)%		(12.77	)%
2021		12.46		13.88		1,173,884		15,313,348		2.66	%		0.30	%		2.00	%		6.23	%		7.89	%
2020		11.63		12.86		1,169,287		14,215,565		3.29	%		0.30	%		2.00	%		3.13	%		4.90	%
2019		11.27		12.26		1,080,178		12,639,900		3.07	%		0.30	%		2.00	%		12.01	%		13.93	%
2018		10.06		10.76		874,702		9,065,181		0.00	%		0.30	%		2.00	%		(6.81	)%		(5.20	)%
JPMorgan Insurance Trust Mid Cap Value Class 1
2022	$	11.09	$	35.91		41,765	$	540,121		0.66	%		0.60	%		1.60	%		(9.61	)%		(9.43	)%
2021		38.29		39.66		3,136		123,458		0.90	%		1.40	%		1.60	%		27.82	%		28.08	%
2020		29.95		30.96		3,139		96,543		1.45	%		1.40	%		1.60	%		(1.22	)%		(1.03	)%
2019		30.32		31.28		3,229		100,340		1.61	%		1.40	%		1.60	%		24.75	%		25.00	%
2018		24.31		25.03		3,373		83,917		0.97	%		1.40	%		1.60	%		(13.24	)%		(13.07	)%
JPMorgan Insurance Trust U.S. Equity Class 1
2022	$	43.07	$	43.07		311	$	13,375		0.37	%		1.40	%		1.40	%		(19.82	)%		(19.82	)%
2021		53.72		53.72		558		29,969		0.73	%		1.40	%		1.40	%		27.54	%		27.54	%
2020		42.12		42.12		561		23,635		0.76	%		1.40	%		1.40	%		23.52	%		23.52	%
2019		34.10		34.10		584		19,926		0.85	%		1.40	%		1.40	%		29.92	%		29.92	%
2018		26.25		26.25		588		15,447		0.62	%		1.40	%		1.40	%		(7.48	)%		(7.48	)%
ClearBridge Variable Aggressive Growth - Class II
2022	$	9.65	$	12.45		969,943	$	11,230,322		0.00	%		0.30	%		1.95	%		(28.00	)%		(26.81	)%
2021		14.93		17.01		923,502		14,749,250		0.16	%		0.30	%		2.00	%		7.92	%		9.71	%
2020		13.74		15.50		980,629		14,337,024		0.66	%		0.30	%		2.00	%		15.40	%		17.38	%
2019		11.82		13.21		877,736		11,023,937		0.85	%		0.30	%		2.00	%		22.34	%		24.37	%
2018		9.60		10.62		678,630		6,923,122		0.41	%		0.30	%		2.00	%		(10.34	)%		(8.84	)%
Western Asset Core Plus VIT Class I
2022	$	8.11	$	8.14		171,475	$	1,394,708		2.79	%		0.45	%		0.60	%		(17.72	)%		(17.60	)%
06/04/2021 - 12/31/2021		9.86		9.87		61,519		607,169		10.03	%		0.45	%		0.60	%		(0.06	)%		(0.06	)%
Lord Abbett Bond Debenture Class VC
2022	$	8.66	$	13.69		10,968,206	$	136,204,893		4.33	%		0.30	%		2.00	%		(14.53	)%		(13.06	)%
2021		10.04		15.77		11,553,854		166,063,844		3.36	%		0.30	%		2.00	%		1.23	%		2.97	%
2020		11.74		15.33		9,342,834		131,580,408		3.97	%		0.30	%		2.00	%		5.18	%		6.98	%
2019		11.11		14.34		9,128,556		121,162,936		4.31	%		0.30	%		2.00	%		11.11	%		13.01	%
2018		9.94		12.70		7,732,403		91,539,827		4.49	%		0.30	%		2.00	%		(5.93	)%		(4.31	)%
Lord Abbett Total Return Class VC
2022	$	9.17	$	12.26		21,830,030	$	236,571,067		3.19	%		0.30	%		2.00	%		(15.75	)%		(14.30	)%
2021		10.88		14.37		23,613,019		300,017,160		1.92	%		0.30	%		2.00	%		(2.22	)%		(0.54	)%
2020		11.13		14.51		23,597,269		303,123,564		2.38	%		0.30	%		2.00	%		5.30	%		7.10	%
2019		10.57		13.61		24,454,607		295,798,025		2.64	%		0.30	%		2.00	%		6.26	%		8.08	%
2018		9.91		12.65		25,481,194		287,709,206		3.16	%		0.30	%		2.00	%		(3.00	)%		(1.32	)%
MFS International Growth - Initial Class
2022	$	8.89	$	8.92		89,358	$	795,857		0.62	%		0.45	%		0.60	%		(15.46	)%		(15.34	)%
06/28/2021 - 12/31/2021		10.52		10.54		50,476		531,144		0.70	%		0.45	%		0.60	%		0.39	%		0.39	%

See Notes to Financial Statements

SA-90

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
MFS Massachusetts Investors Growth Stock - Service Class
2022	$	20.61	$	21.85		3,071,316	$	66,826,527		0.00	%		0.75	%		1.50	%		(20.64	)%		(20.05	)%
2021		25.98		27.33		3,191,183		86,898,259		0.03	%		0.75	%		1.50	%		23.79	%		24.72	%
2020		20.99		21.91		3,719,603		81,263,271		0.22	%		0.75	%		1.50	%		20.38	%		21.29	%
2019		17.43		18.07		4,417,128		79,615,791		0.34	%		0.75	%		1.50	%		37.51	%		38.54	%
2018		12.68		13.04		5,156,328		67,121,008		0.33	%		0.75	%		1.50	%		(0.93	)%		(0.18	)%
MFS New Discovery Series - Initial Class
2022	$	6.42	$	6.44		83,316	$	535,322		0.00	%		0.45	%		0.60	%		(30.18	)%		(30.07	)%
06/04/2021 - 12/31/2021		9.19		9.20		51,616		474,580		0.00	%		0.45	%		0.60	%		(2.60	)%		(2.60	)%
MFS Total Return Series - Service Class
2022	$	9.22	$	20.10		26,167,176	$	427,543,562		1.49	%		0.30	%		2.00	%		(11.62	)%		(10.11	)%
2021		11.06		22.39		25,716,660		487,383,226		1.63	%		0.30	%		2.00	%		11.58	%		13.49	%
2020		12.70		19.80		25,334,270		439,107,285		2.09	%		0.30	%		2.00	%		7.35	%		9.19	%
2019		11.77		18.21		26,668,585		428,357,165		2.13	%		0.30	%		2.00	%		17.74	%		19.76	%
2018		9.95		15.28		27,386,021		372,281,332		1.96	%		0.30	%		2.00	%		(7.75	)%		(6.15	)%
MFS Utilities Series - Initial Class
2022	$	11.33	$	11.37		14,917	$	169,207		2.39	%		0.45	%		0.60	%		0.15	%		0.30	%
05/27/2021 - 12/31/2021		11.32		11.33		3,473		39,321		3.21	%		0.45	%		0.60	%		9.35	%		9.35	%
MFS Utilities Series - Service Class
2022	$	10.42	$	21.06		3,834,938	$	68,766,145		2.33	%		0.30	%		2.00	%		(1.51	)%		0.18	%
2021		16.71		21.05		3,442,435		62,595,733		1.55	%		0.30	%		2.00	%		11.57	%		13.48	%
2020		14.95		18.56		3,359,918		54,424,836		2.14	%		0.30	%		2.00	%		3.53	%		5.31	%
2019		14.41		17.65		3,834,815		59,832,797		3.85	%		0.30	%		2.00	%		22.33	%		24.43	%
2018		11.75		14.20		3,586,304		45,546,448		0.85	%		0.30	%		2.00	%		(1.20	)%		0.51	%
MFS Value Series - Initial Class
2022	$	11.36	$	11.40		10,879	$	123,945		1.58	%		0.45	%		0.60	%		(6.47	)%		(6.33	)%
06/01/2021 - 12/31/2021		12.15		12.17		1,860		22,607		2.30	%		0.45	%		0.60	%		7.65	%		7.65	%
MFS Value Series - Service Class
2022	$	26.55	$	33.97		2,587,909	$	76,443,736		1.15	%		0.75	%		1.50	%		(7.54	)%		(6.84	)%
2021		28.71		36.46		2,845,409		90,326,492		1.14	%		0.75	%		1.50	%		23.29	%		24.22	%
2020		23.29		29.35		3,263,118		83,597,607		1.36	%		0.75	%		1.50	%		1.68	%		2.45	%
2019		22.90		28.65		3,365,420		84,221,535		1.89	%		0.75	%		1.50	%		27.58	%		28.54	%
2018		17.95		22.29		3,700,200		72,135,293		1.32	%		0.75	%		1.50	%		(11.70	)%		(11.03	)%
Neuberger Berman U.S. Equity Index PutWrite Strategy Class S
2022	$	9.94	$	12.78		329,190	$	3,807,658		0.00	%		0.30	%		1.80	%		(12.86	)%		(11.54	)%
2021		12.75		14.44		240,676		3,225,085		0.34	%		0.30	%		1.80	%		15.84	%		17.59	%
2020		11.01		12.28		144,364		1,648,886		0.89	%		0.30	%		1.80	%		6.33	%		7.93	%
2019		10.36		11.38		137,355		1,452,167		0.17	%		0.30	%		1.80	%		13.20	%		14.91	%
2018		9.15		9.90		100,732		938,759		0.00	%		0.30	%		1.80	%		(8.45	)%		(7.16	)%
TOPS Aggressive Growth ETF Class 1 (5)
01/05/2022 - 12/31/2022	$	9.34	$	9.34		452	$	4,222		0.14	%		0.45	%		0.45	%		(15.26	)%		(15.26	)%
TOPS Balanced ETF Class Class 1
2022	$	9.39	$	9.41		21,162	$	199,059		2.92	%		0.45	%		0.60	%		(11.52	)%		(11.52	)%
11/10/2021 - 12/31/2021		10.61		10.61		5,092		54,014		0.00	%		0.60	%		0.60	%		0.25	%		0.25	%
TOPS Conservative ETF Class 1 (5)
03/25/2022 - 12/31/2022	$	9.51	$	9.51		33,232	$	316,097		1.79	%		0.45	%		0.45	%		(6.16	)%		(6.16	)%
TOPS Growth ETF Class 1
2022	$	9.34	$	9.37		18,405	$	172,321		0.74	%		0.45	%		0.60	%		(15.06	)%		(14.94	)%
02/19/2021 - 12/31/2021		11.00		11.02		23,646		260,159		0.79	%		0.45	%		0.60	%		9.87	%		9.87	%
TOPS Managed Risk Growth ETF Class 1 (5)
04/22/2022 - 12/31/2022	$	9.23	$	9.23		931	$	8,594		13.74	%		0.45	%		0.45	%		(6.16	)%		(6.16	)%
TOPS Moderate Growth ETF Class 1 (5)
09/20/2022 - 12/31/2022	$	9.40	$	9.40		5,675	$	53,328		6.09	%		0.45	%		0.45	%		2.03	%		2.03	%
PIMCO All Asset - Advisor Class
2022	$	10.01	$	12.53		365,550	$	4,468,823		7.53	%		0.30	%		1.85	%		(13.48	)%		(12.13	)%
2021		13.89		14.26		384,604		5,400,952		10.31	%		0.30	%		1.85	%		13.92	%		15.58	%
05/28/2020 - 12/31/2020		12.19		12.31		202,159		2,474,456		4.23	%		0.40	%		1.85	%		17.17	%		17.31	%
PIMCO CommodityRealReturn Strategy - Advisor Class
2022	$	6.91	$	14.12		3,924,178	$	31,714,469		22.33	%		0.30	%		2.00	%		6.52	%		8.34	%
2021		6.49		13.03		2,992,278		22,232,847		4.15	%		0.30	%		2.00	%		30.48	%		32.71	%
2020		4.97		9.82		1,545,855		8,631,904		6.09	%		0.30	%		2.00	%		(0.78	)%		0.93	%
2019		5.01		9.73		1,378,881		7,605,029		4.35	%		0.30	%		2.00	%		9.15	%		11.02	%
2018		4.59		8.77		1,366,854		6,776,551		1.99	%		0.30	%		2.00	%		(15.91	)%		(14.46	)%

See Notes to Financial Statements

SA-91

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
PIMCO Emerging Markets Bond - Institutional Class
2022	$	8.22	$	8.24		34,412	$	283,162		5.08	%		0.45	%		0.60	%		(16.01	)%		(15.89	)%
05/27/2021 - 12/31/2021		9.79		9.80		16,290		159,513		4.84	%		0.45	%		0.60	%		(1.26	)%		(1.26	)%
PIMCO Income - Advisor Class
2022	$	9.14	$	10.46		1,966,152	$	20,110,768		3.70	%		0.30	%		2.00	%		(9.61	)%		(8.07	)%
2021		10.01		11.38		1,783,521		20,022,762		2.84	%		0.30	%		2.00	%		0.03	%		1.59	%
05/07/2020 - 12/31/2020		11.09		11.20		470,049		5,238,100		3.43	%		0.30	%		1.85	%		11.14	%		11.14	%
PIMCO Long-Term U.S. Government - Institutional Class (5)
01/28/2022 - 12/31/2022	$	7.06	$	7.08		29,262	$	207,220		2.31	%		0.45	%		0.60	%		(26.73	)%		(26.73	)%
PIMCO Low Duration - Institutional Class
2022	$	9.25	$	9.28		77,215	$	716,581		2.16	%		0.45	%		0.60	%		(5.98	)%		(5.98	)%
08/31/2021 - 12/31/2021		9.87		9.87		4,367		43,104		0.83	%		0.45	%		0.45	%		(0.94	)%		(0.94	)%
PIMCO Total Return - Institutional Class
2022	$	8.45	$	8.47		176,640	$	1,495,415		3.20	%		0.45	%		0.60	%		(14.62	)%		(14.49	)%
06/04/2021 - 12/31/2021		9.89		9.91		11,473		113,523		2.04	%		0.45	%		0.60	%		0.17	%		0.17	%
PSF International Growth Class II
2022	$	20.30	$	21.92		2,158	$	45,400		0.00	%		1.40	%		1.75	%		(30.39	)%		(30.14	)%
2021		29.15		31.37		2,290		69,012		0.00	%		1.40	%		1.75	%		10.14	%		10.53	%
2020		26.47		28.39		2,402		65,593		0.00	%		1.40	%		1.75	%		29.30	%		29.75	%
2019		20.47		21.88		2,538		53,491		0.00	%		1.40	%		1.75	%		29.62	%		30.07	%
2018		15.79		16.82		2,732		44,330		0.00	%		1.40	%		1.75	%		(14.72	)%		(14.42	)%
PSF Mid-Cap Growth Class II
2022	$	41.72	$	44.95		502	$	21,308		0.00	%		1.40	%		1.75	%		(28.50	)%		(28.25	)%
2021		58.35		62.66		491		29,170		0.00	%		1.40	%		1.75	%		8.32	%		8.70	%
2020		53.87		57.64		478		26,210		0.00	%		1.40	%		1.75	%		44.35	%		44.86	%
2019		37.32		39.79		2,188		81,961		0.00	%		1.40	%		1.75	%		34.78	%		35.25	%
2018		27.69		29.42		3,261		91,288		0.00	%		1.40	%		1.75	%		(9.78	)%		(9.46	)%
PSF PGIM Jennison Growth Class Growth II
2022	$	36.69	$	38.29		1,989	$	75,059		0.00	%		1.40	%		1.60	%		(38.84	)%		(38.71	)%
2021		59.99		62.48		1,991		122,631		0.00	%		1.40	%		1.60	%		13.72	%		13.95	%
2020		52.76		54.83		2,253		122,083		0.00	%		1.40	%		1.60	%		53.10	%		53.41	%
2019		34.46		35.74		2,267		80,093		0.00	%		1.40	%		1.60	%		30.71	%		30.98	%
2018		26.36		27.29		2,270		61,280		0.00	%		1.40	%		1.75	%		(2.76	)%		(2.56	)%
PSF PGIM Jennison Value Class II
2022	$	27.02	$	29.11		3,132	$	89,023		0.00	%		1.40	%		1.75	%		(9.84	)%		(9.53	)%
2021		29.97		32.18		3,274		102,897		0.00	%		1.40	%		1.75	%		25.08	%		25.51	%
2020		23.96		25.64		3,391		84,936		0.00	%		1.40	%		1.75	%		1.36	%		1.71	%
2019		23.64		25.21		3,503		86,339		0.00	%		1.40	%		1.75	%		23.40	%		23.83	%
2018		19.16		20.35		5,417		107,427		0.00	%		1.40	%		1.75	%		(11.80	)%		(11.49	)%
Schwab Government Money Market (8)
2022
06/09/2021 - 07/09/2021		9.98		9.98		-	$	-		0.01	%		0.60	%		0.60	%		(0.05	)%		(0.05	)%
2020
2019
05/07/2018 - 09/06/2018		9.86		9.86		-		-		1.56	%		0.60	%		0.60	%		0.32	%		0.32	%
Schwab S&P 500 Index Fund
2022	$	9.99	$	10.02		1,978,924	$	19,818,575		1.37	%		0.45	%		0.60	%		(18.60	)%		(18.48	)%
04/15/2021 - 12/31/2021		12.27		12.29		646,971		7,947,848		1.05	%		0.45	%		0.60	%		15.04	%		15.04	%
Schwab VIT Balanced
2022	$	11.52	$	13.31		4,329,481	$	57,333,835		1.55	%		0.60	%		1.00	%		(15.56	)%		(15.22	)%
2021		13.64		15.70		4,750,975		74,263,716		1.32	%		0.60	%		1.00	%		7.11	%		7.54	%
2020		12.74		14.60		4,960,747		72,154,553		1.87	%		0.60	%		1.00	%		7.15	%		7.58	%
2019		11.89		13.57		4,795,185		64,871,472		1.74	%		0.60	%		1.00	%		13.11	%		13.56	%
2018		10.51		11.95		4,934,852		58,844,444		1.33	%		0.60	%		1.00	%		(5.59	)%		(5.21	)%
Schwab VIT Balanced with Growth
2022	$	12.61	$	15.23		8,399,508	$	125,849,734		1.63	%		0.60	%		1.00	%		(16.84	)%		(16.51	)%
2021		15.16		18.25		8,750,082		157,164,117		1.34	%		0.60	%		1.00	%		10.31	%		10.76	%
2020		13.74		16.47		9,090,166		147,549,098		2.05	%		0.60	%		1.00	%		8.99	%		9.43	%
2019		12.61		15.05		9,832,786		145,983,472		1.86	%		0.60	%		1.00	%		16.87	%		17.34	%
2018		10.79		12.83		10,008,190		126,869,239		1.54	%		0.60	%		1.00	%		(7.64	)%		(7.26	)%

See Notes to Financial Statements

SA-92

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Schwab VIT Growth
2022	$	13.59	$	17.29		8,001,432	$	136,930,457		1.69	%		0.60	%		1.00	%		(18.06	)%		(17.74	)%
2021		16.59		21.01		8,380,425		174,453,014		1.31	%		0.60	%		1.00	%		13.53	%		13.98	%
2020		14.61		18.44		8,553,128		156,509,222		2.02	%		0.60	%		1.00	%		10.23	%		10.67	%
2019		13.26		16.66		9,197,186		152,169,454		1.76	%		0.60	%		1.00	%		19.64	%		20.12	%
2018		11.08		13.87		9,611,058		132,422,989		1.49	%		0.60	%		1.00	%		(9.27	)%		(8.91	)%
State Street Total Return V.I.S. Class 3
2022	$	9.00	$	22.37		17,034,547	$	273,070,007		0.39	%		0.30	%		2.00	%		(18.37	)%		(16.97	)%
2021		10.95		26.97		19,124,200		378,586,903		1.78	%		0.30	%		2.00	%		10.96	%		12.86	%
2020		11.97		23.92		21,256,530		383,179,392		1.62	%		0.30	%		2.00	%		4.04	%		5.82	%
2019		11.44		22.63		23,459,047		406,020,577		2.02	%		0.30	%		2.00	%		13.28	%		15.22	%
2018		10.05		19.66		26,335,073		404,148,979		1.86	%		0.30	%		2.00	%		(8.47	)%		(6.89	)%
T. Rowe Price Blue Chip Growth - I
2022	$	6.79	$	6.80		129,871	$	882,973		0.00	%		0.45	%		0.60	%		(38.87	)%		(38.78	)%
05/20/2021 - 12/31/2021		11.10		11.11		5,658		62,832		0.00	%		0.45	%		0.60	%		11.93	%		11.93	%
T. Rowe Price Equity Income - I
2022	$	11.39	$	11.42		25,404	$	289,969		2.13	%		0.45	%		0.60	%		(3.92	)%		(3.78	)%
05/27/2021 - 12/31/2021		11.85		11.87		9,815		116,412		1.92	%		0.45	%		0.60	%		3.12	%		3.12	%
T. Rowe Price Health Sciences - I
2022	$	9.14	$	9.17		48,604	$	444,836		0.00	%		0.45	%		0.60	%		(13.00	)%		(12.87	)%
05/20/2021 - 12/31/2021		10.51		10.52		27,656		290,718		0.00	%		0.45	%		0.60	%		9.95	%		9.95	%
VanEck VIP Global Resources Class S
2022	$	8.08	$	11.39		3,035,536	$	27,805,678		1.58	%		0.30	%		2.00	%		5.99	%		7.80	%
2021		7.62		10.57		2,542,123		21,787,494		0.31	%		0.30	%		2.00	%		16.33	%		18.32	%
2020		6.55		8.93		2,482,148		17,927,047		0.79	%		0.30	%		2.00	%		16.47	%		18.47	%
2019		5.63		7.54		2,395,794		14,683,220		0.00	%		0.30	%		2.00	%		9.34	%		11.21	%
2018		5.15		6.78		2,121,470		11,751,306		0.00	%		0.30	%		2.00	%		(29.85	)%		(28.64	)%
Vanguard VIF Balanced
2022	$	9.89	$	9.92		1,051,615	$	10,422,713		1.40	%		0.45	%		0.60	%		(14.81	)%		(14.69	)%
04/20/2021 - 12/31/2021		11.61		11.62		350,026		4,067,133		0.00	%		0.45	%		0.60	%		11.37	%		11.37	%
Vanguard VIF Capital Growth
2022	$	9.39	$	9.42		134,526	$	1,266,884		0.76	%		0.45	%		0.60	%		(15.99	)%		(15.86	)%
04/15/2021 - 12/31/2021		11.18		11.20		31,631		353,911		0.00	%		0.45	%		0.60	%		6.37	%		6.37	%
Vanguard VIF Conservative Allocation
2022	$	8.77	$	8.80		374,633	$	3,295,449		1.64	%		0.45	%		0.60	%		(15.40	)%		(15.28	)%
06/11/2021 - 12/31/2021		10.37		10.38		237,720		2,467,280		0.00	%		0.45	%		0.60	%		1.58	%		1.58	%
Vanguard VIF Diversified Value
2022	$	10.77	$	10.81		105,601	$	1,139,243		1.04	%		0.45	%		0.60	%		(12.02	)%		(11.89	)%
06/28/2021 - 12/31/2021		12.25		12.26		69,707		853,777		0.00	%		0.45	%		0.60	%		8.26	%		8.26	%
Vanguard VIF Equity Income
2022	$	11.91	$	11.95		180,021	$	2,147,027		0.88	%		0.45	%		0.60	%		(1.25	)%		(1.11	)%
05/20/2021 - 12/31/2021		12.06		12.08		23,308		281,222		0.00	%		0.45	%		0.60	%		7.60	%		7.60	%
Vanguard VIF Equity Index
2022	$	10.00	$	10.00		208,502	$	2,083,980		1.41	%		0.45	%		0.45	%		(18.60	)%		(18.60	)%
08/20/2021 - 12/31/2021		12.28		12.28		212,163		2,604,985		0.00	%		0.45	%		0.45	%		7.61	%		7.61	%
Vanguard VIF Global Bond Index
2022	$	8.51	$	8.54		111,871	$	952,989		2.75	%		0.45	%		0.60	%		(13.65	)%		(13.52	)%
08/10/2021 - 12/31/2021		9.86		9.87		89,388		881,132		0.00	%		0.45	%		0.60	%		(1.07	)%		(1.07	)%
Vanguard VIF Growth
2022	$	7.37	$	7.39		199,651	$	1,474,307		0.00	%		0.45	%		0.60	%		(33.76	)%		(33.66	)%
06/28/2021 - 12/31/2021		11.13		11.14		58,457		650,554		0.00	%		0.45	%		0.60	%		5.37	%		5.37	%
Vanguard VIF High Yield Bond
2022	$	9.22	$	9.25		98,151	$	907,159		4.11	%		0.45	%		0.60	%		(9.90	)%		(9.77	)%
07/29/2021 - 12/31/2021		10.24		10.25		38,653		395,887		0.00	%		0.45	%		0.60	%		0.62	%		0.62	%
Vanguard VIF International
2022	$	6.14	$	6.16		69,731	$	429,107		0.86	%		0.45	%		0.60	%		(30.54	)%		(30.43	)%
06/04/2021 - 12/31/2021		8.84		8.85		20,011		176,994		0.00	%		0.45	%		0.60	%		(5.60	)%		(5.60	)%
Vanguard VIF Mid-Cap Index
2022	$	9.38	$	9.41		361,211	$	3,398,328		0.84	%		0.45	%		0.60	%		(19.31	)%		(19.18	)%
06/03/2021 - 12/31/2021		11.63		11.64		59,953		697,633		0.00	%		0.45	%		0.60	%		9.62	%		9.62	%

See Notes to Financial Statements

SA-93

See explanation of references on page SA-94

SEPARATE ACCOUNT A

FINANCIAL HIGHLIGHTS (Continued)

	At the End of Each Year or Period								Investment
Variable Accounts	AUV (1)				Units		Net		Income			Expense Ratios (3)						Total Returns (4)
For Each Year or Period	Lowest		Highest		Outstanding		Assets		Ratios (2)			Lowest			Highest			Lowest			Highest
Vanguard VIF Moderate Allocation
2022	$	8.89	$	8.91		1,535,831	$	13,681,505		1.79	%		0.45	%		0.60	%		(16.43	)%		(16.30	)%
05/28/2021 - 12/31/2021		10.63		10.65		633,207		6,740,837		0.00	%		0.45	%		0.60	%		3.74	%		3.74	%
Vanguard VIF Real Estate Index
2022	$	9.76	$	9.79		134,155	$	1,313,023		1.70	%		0.45	%		0.60	%		(26.74	)%		(26.63	)%
07/08/2021 - 12/31/2021		13.32		13.34		15,024		200,384		0.00	%		0.45	%		0.60	%		13.57	%		13.57	%
Vanguard VIF Short-Term Investment-Grade
2022	$	9.27	$	9.30		432,776	$	4,020,516		1.34	%		0.45	%		0.60	%		(6.29	)%		(6.14	)%
07/27/2021 - 12/31/2021		9.89		9.91		116,337		1,151,665		0.00	%		0.45	%		0.60	%		(1.11	)%		(1.11	)%
Vanguard VIF Total Bond Market Index
2022	$	8.52	$	8.54		890,474	$	7,602,858		1.93	%		0.45	%		0.60	%		(13.73	)%		(13.60	)%
06/16/2021 - 12/31/2021		9.88		9.89		651,423		6,439,338		0.00	%		0.45	%		0.60	%		0.25	%		0.25	%
Vanguard VIF Total International Stock Market Index
2022	$	8.56	$	8.59		836,490	$	7,181,273		2.26	%		0.45	%		0.60	%		(16.52	)%		(16.39	)%
04/15/2021 - 12/31/2021		10.26		10.27		299,572		3,075,817		0.00	%		0.45	%		0.60	%		0.93	%		0.93	%
Vanguard VIF Total Stock Market Index
2022	$	9.43	$	9.46		764,373	$	7,228,967		1.19	%		0.45	%		0.60	%		(20.07	)%		(19.95	)%
06/01/2021 - 12/31/2021		11.80		11.82		296,337		3,501,023		0.00	%		0.45	%		0.60	%		11.30	%		11.30	%

(1)	The AUV is presented as a range from lowest to highest based on the ending AUV for all product groupings as of December 31 of each year or period ended. The lowest and highest AUV may be the same for a variable account if there is only one product which had investments at the end of the year or period.
(2)	The investment income ratios represent the dividends, excluding distributions of capital gains, received by the variable accounts from the underlying portfolios, divided by the average daily net assets (See Note 3 in Notes to Financial Statements). These ratios exclude those expenses, such as mortality and expense risk ("M&E") fees, administrative fees, and additional death benefit rider charges, if any, that are assessed against contract owner accounts, either through reductions in the unit values or the redemption of units. The recognition of investment income by the variable accounts is affected by the timing of the declaration of dividends by the underlying portfolios in which the variable accounts invest. The investment income ratios for periods of less than one full year are annualized.
(3)	The expense ratios represent annualized contract fees and expenses of the Separate Account divided by the average daily net assets for each period indicated. These ratios include only those expenses that result in a direct reduction of unit values. Excluded are expenses of the underlying portfolios in which the variable accounts invest and charges made directly to contract owner accounts through the redemption of units (See Note 4 in Notes to Financial Statements). The expense ratios are presented as a range of lowest to highest based on the product groupings. The expense ratios for periods of less than one full year are annualized.
(4)	Total returns reflect changes in unit values of the underlying portfolios and deductions for M&E fees, administrative fees, and additional death benefit rider charges, if any, assessed through the daily AUV calculation. These fees and charges are assessed at annual rates ranging from 0.30% to 2.00% based on the average daily net assets of each variable account as discussed in Note 4 in Notes to Financial Statements. Total returns do not include deductions at the separate account or contract level for any premium loads, maintenance fees, premium tax charges, withdrawal and surrender charges, charges for other optional benefit riders, or other charges that may be incurred under a contract which, if incurred, would have resulted in lower returns. Total returns are presented as a range from lowest to highest values based on the product grouping representing the minimum to maximum expense ratio amounts. Total returns for those contracts which commenced operations subsequent to the beginning of the year or period indicated for each variable account may not be within the ranges presented, and these contracts are excluded when calculating the total returns from lowest to highest as presented in the table. Total returns are calculated for each period indicated and are not annualized for periods of less than one full year.
(5)	Operations commenced or resumed during 2022 (See Note 1 in Notes to Financial Statements).
(6)	All units were fully redeemed or transferred prior to December 31, 2022. The AUV is as of the period ended as indicated.
(7)	The annualized investment income ratio for the Fidelity VIP Funds Manager 60% Investor Class Variable Account was 64.17% for 2022. The high investment income ratio was due to a large purchase received shortly before the annual investment income distribution in December 2022.
(8)	There has been no activity in the Schwab Government Money Market Variable Account since July 9, 2021.

See Notes to Financial Statements

SA-94

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

The Separate Account A (the “Separate Account”) of Pacific Life Insurance Company (“Pacific Life”) is registered as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account consists of subaccounts (each, a “Variable Account” and collectively, the “Variable Accounts”) which invest in shares of corresponding portfolios (each, a “Portfolio” and collectively, the “Portfolios”) of registered investment management companies (each, a “Fund” and collectively, the “Funds”). As of December 31, 2022, the Fund investment options are Pacific Select Fund (See Note 4), AIM Variable Insurance Funds (Invesco Variable Insurance Funds), American Century Variable Portfolios, Inc., American Funds Insurance Series®, BlackRock Variable Series Funds, Inc., BlackRock Variable Series Fund II, Inc., DFA Investment Dimensions Group Inc., Fidelity Variable Insurance Products Funds, First Trust Variable Insurance Trust, Franklin Templeton Variable Insurance Products Trust, Goldman Sachs Variable Insurance Trust, Ivy Variable Insurance Portfolios, Janus Aspen Series, JPMorgan Insurance Trust, Legg Mason Partners Variable Equity Trust, Lord Abbett Series Fund, Inc., MFS Variable Insurance Trust, MFS Variable Insurance Trust II, Neuberger Berman Advisers Management Trust, Northern Lights Variable Trust, PIMCO Variable Insurance Trust, Prudential Series Fund, Schwab Annuity Portfolios, State Street Variable Insurance Series Funds, Inc., T. Rowe Price Equity Series, Inc., Van Eck VIP Trust, and Vanguard Variable Insurance Fund. The Variable Accounts which have not commenced operations as of December 31, 2022 are not presented in this annual report.

Each of the Portfolios pursues different investment objectives and policies. The financial statements of the Funds, including the schedules of investments, are provided separately and should be read in conjunction with the Separate Account's financial statements.

The following Variable Accounts changed names during 2022:

Current Variable Account Names		Former Variable Account Names
Large-Cap Core Class I		Main Street Core Class I
PSF Avantis Balanced Allocation Class D		PSF DFA Balanced Allocation Class D
PSF Avantis Balanced Allocation Class P		PSF DFA Balanced Allocation Class P
Delaware Ivy VIP Asset Strategy Class II		Ivy VIP Asset Strategy Class II
Delaware Ivy VIP Energy Class II		Ivy VIP Energy Class II

The following Variable Accounts commenced or resumed operations during 2022:

	Commenced		Commenced
	or Resumed		or Resumed
Variable Accounts	Operations on	Variable Accounts	Operations on
ESG Diversified Class P	December 7, 2022	American Funds IS Managed Risk Asset Allocation Class P1	March 9, 2022
ESG Diversified Growth Class P	September 28, 2022	Fidelity VIP Consumer Discretionary Initial Class	December 27, 2022
Invesco V.I. American Value Series I	June 14, 2022	Fidelity VIP FundsManager 60% Investor Class	December 7, 2022
Invesco V.I. EQV International Equity Series I	August 15, 2022	Franklin Income VIP Class 1	March 7, 2022
Invesco V.I. Nasdaq 100 Buffer - September Series I	January 24, 2022	Franklin Mutual Shares VIP Class 1	May 13, 2022
Invesco V.I. Nasdaq 100 Buffer - December Series I	March 14, 2022	Franklin Small Cap Value VIP Class 1	January 13, 2022
Invesco V.I. Nasdaq 100 Buffer - December Series II	January 3, 2022	Goldman Sachs VIT Large Cap Value Institutional Shares	April 6, 2022
Invesco V.I. Nasdaq 100 Buffer - March Series I	September 2, 2022	Goldman Sachs VIT Strategic Growth Institutional Shares	May 13, 2022
Invesco V.I. Nasdaq 100 Buffer - March Series II	April 1, 2022	Goldman Sachs VIT Trends Driven Allocation Institutional Shares	April 14, 2022
Invesco V.I. Nasdaq 100 Buffer - June Series II	July 1, 2022	TOPS Aggressive Growth ETF Class 1	January 5, 2022
Invesco V.I. S&P 500 Buffer - December Series II	January 3, 2022	TOPS Conservative ETF Class 1	March 25, 2022
Invesco V.I. S&P 500 Buffer - March Series II	April 1, 2022	TOPS Managed Risk Growth ETF Class 1	April 22, 2022
Invesco V.I. S&P 500 Buffer - June Series II	July 1, 2022	TOPS Moderate Growth ETF Class 1	September 20, 2022
American Century VP Mid Cap Value Class I	June 14, 2022	PIMCO Long-Term U.S. Government Institutional Class	January 28, 2022
American Funds IS Capital World Bond Class 1	January 24, 2022

The Invesco V.I. EQV International Equity Series I Variable Account commenced or resumed operations on August 15, 2022 and all units were fully redeemed or transferred prior to December 31, 2022.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the other assets and liabilities of Pacific Life. The assets of the Separate Account will not be charged with any liabilities arising out of any other business conducted by Pacific Life, but the obligations of the Separate Account, including benefits related to variable annuity contracts, are obligations of Pacific Life.

The Separate Account funds individual flexible premium deferred variable annuity contracts (the "Contracts"). The investments of the Separate Account are carried at fair value.

SA-95

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed by the Separate Account in the preparation of its financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Separate Account qualifies as an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to Investment Companies Topic of U.S. GAAP.

A. Valuation of Investments

The fair value of the Variable Account’s investments in mutual funds is based on the computed net asset values (“NAV”) of the corresponding Portfolios, which are obtained from the transfer agents or Fund companies and reflect the fair values of the Portfolio investments. The NAV is calculated daily upon the close of the New York Stock Exchange and is based on the fair values of the underlying securities. Valuation of the underlying securities is discussed in the notes to the Funds’ financial statements.

B. Security Transactions and Income

Transactions are recorded on the trade date. Realized gains and losses on sales of investments are determined on the basis of identified cost. Dividends and capital gains distributions, if any, from mutual fund investments are recorded on the ex-dividend date.

C. Federal Income Taxes

The operations of the Separate Account are included within the total operations of Pacific Life, which files income tax returns as part of the Pacific Mutual Holding Company consolidated federal income tax return. Under the current tax law, no federal income taxes are expected to be paid with respect to the operations of the Separate Account. Pacific Life will periodically review the status of this policy in the event of changes in the tax law.

D. Contracts in Payout Period

Net assets allocated to Contracts in payout period are computed, on a current basis, according to the Annuity 2000 Mortality Table or 2012 IAR Mortality Table depending on the year of annuitization. The assumed investment return is 4.0 or 5.0 percent depending on the product. The mortality risk is fully borne by Pacific Life and may result in additional amounts being transferred into the Variable Accounts by Pacific Life to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed the amounts required, transfers may be made to Pacific Life. These transfers, if any, are shown as adjustments to net assets allocated to contracts in payout (annuitization) period in the accompanying Statements of Changes in Net Assets.

3. DIVIDENDS AND DISTRIBUTIONS FROM MUTUAL FUND INVESTMENTS

All dividend and capital gain distributions, if any, received from the Portfolios are reinvested in additional full and fractional shares of the related Portfolios and are recorded by the Variable Accounts on the ex-dividend date.

Each of the Portfolios in the Pacific Select Fund is treated as a partnership for federal income tax purposes only (the “Partnership Portfolios”). The Partnership Portfolios are not required to distribute taxable income and capital gains for federal income tax purposes. Therefore, no dividend or capital gain distributions were received from any Portfolios in the Pacific Select Fund nor were they recorded by the applicable Variable Accounts in the Statements of Operations for the year ended December 31, 2022.

4. CHARGES AND EXPENSES AND RELATED PARTY TRANSACTIONS

Pacific Life deducts from the Separate Account daily charges for mortality and expense risks ("M&E") and administrative fees Pacific Life assumes, and additional death benefit rider charges, if applicable. Contracts funded by the Separate Account currently being sold or administered, along with their respective annual expense rates, are summarized in the following table. The mortality risk assumed by Pacific Life is the risk that the annuitant will live longer than predicted and will receive more annuity payments than anticipated. Pacific Life also assumes mortality risk in connection with any death benefit paid under the Contracts. The expense risk assumed is that expenses incurred in administering the Contracts and the Separate Account will exceed the amounts realized from fees and charges assessed against the Contracts. These charges are assessed daily at the following annual rates based on the average daily net assets of each Variable Account and result in a direct reduction in unit values. M&E fees and administrative fees are included in the Statements of Operations.

SA-96

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	Death Benefit Options

				With Return of Investment
Pacific Advisory Contracts	Standard Death Benefit			(ROI) Death Benefit Rider
M&E Charge		0.15	%		0.15	%
Administrative Fee		0.15	%		0.15	%
Platform Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.15	%
Total Annual Expenses		0.45	%		0.60	%

Pacific Choice Contracts (Without Stepped-Up	Standard Death Benefit			Standard Death Benefit			Standard Death Benefit
Death Benefit II Rider Charge)	With 5 Year Option			With 3 Year Option			With 0 Year Option
M&E Charge		0.95	%		1.25	%		1.35	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Total Annual Expenses		1.20	%		1.50	%		1.60	%

Pacific Choice Contracts (With Stepped-Up	Standard Death Benefit			Standard Death Benefit			Standard Death Benefit
Death Benefit II Rider Charge)	With 5 Year Option			With 3 Year Option			With 0 Year Option
M&E Charge		0.95	%		1.25	%		1.35	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		0.20	%		0.20	%		0.20	%
Total Annual Expenses		1.40	%		1.70	%		1.80	%

Pacific Choice 2 Contracts (Without Return	Standard Death Benefit			Standard Death Benefit			Standard Death Benefit
of Purchase Payments Death Benefits	If Contract Value is			If Contract Value is between			If Contract Value is
nor Stepped-Up Death Benefits	less than $500,000			$500,000 and $1,000,000			over $1,000,000
M&E Charge		0.85	%		0.80	%		0.75	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Total Annual Expenses		1.10	%		1.05	%		1.00	%

Pacific Choice 2 Contracts (With Return	Standard Death Benefit			Standard Death Benefit			Standard Death Benefit
of Purchase Payments Death Benefits	If Contract Value is			If Contract Value is between			If Contract Value is
but not Stepped-Up Death Benefits	less than $500,000			$500,000 and $1,000,000			over $1,000,000
M&E Charge		0.95	%		0.90	%		0.85	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Total Annual Expenses		1.20	%		1.15	%		1.10	%

Pacific Choice 2 Contracts (Without Return	Standard Death Benefit			Standard Death Benefit			Standard Death Benefit
of Purchase Payments Death Benefits	If Contract Value is			If Contract Value is between			If Contract Value is
but With Stepped-Up Death Benefits)	less than $500,000			$500,000 and $1,000,000			over $1,000,000
M&E Charge		1.25	%		1.20	%		1.15	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Total Annual Expenses		1.50	%		1.45	%		1.40	%

				With Return of Purchase
Pacific Choice Income Contracts	Standard Death Benefit			Payments Death Benefit Rider
M&E Charge		0.90	%		0.90	%
Administrative Fee		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.15	%
Total Annual Expenses		1.15	%		1.30	%

				With Stepped-Up Death
Pacific Destinations and				Benefit Rider or Stepped-Up
Pacific Destination O - Series Contracts	Standard Death Benefit			Death Benefit II Rider
M&E Charge		0.60	%		0.60	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		0.75	%		0.95	%

SA-97

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	Death Benefit Options
				With Stepped-Up
Pacific Destinations B Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		1.15	%		1.15	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.30	%		1.50	%

				With Stepped-Up
Pacific Journey Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		0.90	%		0.90	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.05	%		1.25	%

	Without Stepped-Up Death									With Stepped-Up Death
	Benefit Rider and Four Year			With Stepped-Up Death			With Four Year Withdrawal			Benefit Rider and Four Year
Pacific Journey Select Contracts	Withdrawal Charge Option			Benefit Rider Only			Charge Option Only			Withdrawal Charge Option
M&E Charge		0.95	%		0.95	%		0.95	%		0.95	%
Administrative Fee		0.15	%		0.15	%		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%		None			0.20	%
Four Year Withdrawal Charge		None			None			0.35	%		0.35	%
Total Annual Expenses		1.10	%		1.30	%		1.45	%		1.65	%

	Without Return of Purchase			With Return of Purchase
	Payment Death Benefit nor			Payment Death Benefit nor
Pacific Life Retirement	Return of Purchase			Return of Purchase
Growth and Income Annuity Contracts	Payment Death Benefit II			Payment Death Benefit II
M&E Charge		0.60	%		0.60	%
Administrative Fee		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.15	%
Total Annual Expenses		0.85	%		1.00	%

	Without Stepped-Up Death									With Stepped-Up Death
	Benefit Rider II and Four Year			With Stepped-Up Death			With Four Year Withdrawal			Benefit Rider II and Four Year
Pacific Navigator Contracts	Withdrawal Charge Option			Benefit Rider II Only			Charge Option Only			Withdrawal Charge Option
M&E Charge		1.05	%		1.05	%		1.05	%		1.05	%
Administrative Fee		0.25	%		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.20	%		None			0.20	%
Four Year Withdrawal Charge		None			None			0.45	%		0.45	%
Total Annual Expenses		1.30	%		1.50	%		1.75	%		1.95	%

Pacific Odyssey Contracts				With Stepped-Up
(issued on or after 12/1/2016)	Standard Death Benefit			Death Benefit Rider
M&E Charge		0.15	%		0.15	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		0.30	%		0.50	%

Pacific Odyssey Contracts				With Stepped-Up			With Premier
(issued prior to 12/1/2016)	Standard Death Benefit			Death Benefit Rider			Death Benefit Rider
M&E Charge		0.15	%		0.15	%		0.15	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.20	%		0.35	%
Total Annual Expenses		0.40	%		0.60	%		0.75	%

SA-98

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	Death Benefit Options

Pacific One Select (issued prior to 8/1/2006)				With Stepped-Up			With Premier
and Pacific Innovations Select Contracts	Standard Death Benefit			Death Benefit Rider			Death Benefit Rider
M&E Charge		1.40	%		1.40	%		1.40	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.20	%		0.35	%
Total Annual Expenses		1.65	%		1.85	%		2.00	%

Pacific One and Pacific				With Stepped-Up
Portfolios Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		1.25	%		1.25	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.40	%		1.60	%

Pacific One Select (issued on or after 8/1/2006)				With Stepped-Up
and Pacific Value Edge Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		1.50	%		1.50	%
Administrative Fee		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.75	%		1.95	%

				With Return of Purchase			With Stepped-Up
Pacific Quest	Standard Death Benefit			Payments Death Benefit Rider			Death Benefit Rider
M&E Charge		0.70	%		0.70	%		0.70	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.10	%		0.40	%
Total Annual Expenses		0.95	%		1.05	%		1.35	%

				With Stepped-Up			With Premier
Pacific Value and Pacific Innovations Contracts	Standard Death Benefit			Death Benefit Rider			Death Benefit Rider
M&E Charge		1.25	%		1.25	%		1.25	%
Administrative Fee		0.15	%		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%		0.35	%
Total Annual Expenses		1.40	%		1.60	%		1.75	%

				With Stepped-Up
Pacific Value Select Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		1.45	%		1.45	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.60	%		1.80	%

				With Stepped-Up
Pacific Voyages Contracts	Standard Death Benefit			Death Benefit Rider
M&E Charge		1.00	%		1.00	%
Administrative Fee		0.15	%		0.15	%
Death Benefit Rider Charge		None			0.20	%
Total Annual Expenses		1.15	%		1.35	%

Schwab Retirement				With Return of Purchase			With Stepped-Up
Income Variable Annuity Contracts	Standard Death Benefit			Payments Death Benefit Rider			Death Benefit Rider
M&E Charge		0.35	%		0.35	%		0.35	%
Administrative Fee		0.25	%		0.25	%		0.25	%
Death Benefit Rider Charge		None			0.20	%		0.40	%
Total Annual Expenses		0.60	%		0.80	%		1.00	%

SA-99

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

Under the Contracts, Pacific Life makes certain deductions from the net assets of each Variable Account through a redemption of units for maintenance fees, any other optional riders, any state premium taxes, and any withdrawal and surrender charges, and are shown as a decrease in net assets from contract owner transactions in the accompanying Statements of Changes in Net Assets. For certain Contracts, a surrender charge is imposed if the Contract is partially or fully surrendered within the specified surrender charge period and charges will vary depending on the individual Contract. Most Contracts offer optional benefits that can be added to the Contract by rider. The charges for riders can range depending on the individual Contract. These fees and charges are assessed directly to each Contract owner account through redemption of units. Withdrawal and surrender charges are included in contract benefits and terminations; and maintenance fees, any other optional benefit riders and state premium taxes are included in contract charges and deductions in the accompanying Statements of Changes in Net Assets. The operating expenses of the Separate Account are paid by Pacific Life and are not reflected in the accompanying financial statements.

In addition to charges and expenses described above, the Variable Accounts also indirectly bear a portion of the operating expenses of the applicable Portfolios in which they invest.

The assets of certain Variable Accounts invest in Class D, Class I, or Class P shares of the corresponding Portfolios of the Pacific Select Fund ("PSF"). Each Portfolio of PSF pays an advisory fee to Pacific Life Fund Advisors LLC (“PLFA”), a wholly-owned subsidiary of Pacific Life, pursuant to PSF's Investment Advisory Agreement and pays a class-specific non-12b-1 service fee for class I shares and a class-specific 12b-1 distribution and service fee for class D shares to Pacific Select Distributors, LLC ("PSD"), also a wholly-owned subsidiary of Pacific Life, for providing shareholder servicing activities under PSF's non-12b-1 Service Plan and 12b-1 Distribution and Service Plan. Each Portfolio of PSF also compensates Pacific Life and PLFA on an approximate cost basis pursuant to PSF Administration and Support Services Agreement for providing services to PSF that are outside the scope of the Investment Adviser’s responsibilities under the Investment Advisory Agreement. The advisory fee and distribution and/or service fee rates are disclosed in the notes to financial statements of PSF, which are provided separately. For the year ended December 31, 2022, PLFA received net advisory fees from the Portfolios of PSF at effective annual rates ranging from 0.05% to 0.90%, and PSD received a non-12b-1 service fee of 0.20% on Class I shares only and a 12b-1 service fee of 0.20% and a distribution fee of 0.05% on Class D shares only, all of which are based on the average daily net assets of each Portfolio.

5. RELATED PARTY AGREEMENT

PSD serves as principal underwriter of the Contracts funded by interests in the Separate Account, without remuneration from the Separate Account.

6. FAIR VALUE MEASUREMENTS

The Variable Accounts characterize their holdings in the Portfolios as Level 1, Level 2, or Level 3 based upon the various inputs or methodologies used to value the holdings. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 –

Quoted prices (unadjusted) in active markets for identical holdings

Level 2 –

Significant observable market-based inputs, other than Level 1 quoted prices, or unobservable inputs that are corroborated by market data

Level 3 –

Significant unobservable inputs that are not corroborated by observable market data

The inputs or methodologies used for valuing the Variable Accounts' holdings are not necessarily an indication of risks associated with investing in those holdings. As of December 31, 2022, the Variable Accounts' holdings as presented in the Investments section of this report were all categorized as Level 1 under the three-tier hierarchy of inputs.

7. CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the year or period ended December 31, 2022 and 2021 were as follows:

	2022								2021
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
Core Income Class I		828,561		(683,144	)		145,417			923,205		(779,210	)		143,995
Diversified Bond Class I		2,747,848		(3,915,125	)		(1,167,277	)		5,078,589		(3,191,874	)		1,886,715
Floating Rate Income Class I		6,875,211		(5,541,718	)		1,333,493			4,164,053		(2,945,672	)		1,218,381
Floating Rate Income Class P		70,741		(43,205	)		27,536			80,299		(530	)		79,769
High Yield Bond Class I		1,592,251		(3,069,286	)		(1,477,035	)		3,004,709		(3,126,365	)		(121,656	)
Inflation Managed Class I		2,662,488		(3,412,674	)		(750,186	)		4,548,831		(2,355,657	)		2,193,174
Intermediate Bond Class I		902,179		(83,988	)		818,191			98,583		(1,969	)		96,614
Managed Bond Class I		3,521,389		(6,043,795	)		(2,522,406	)		5,780,026		(5,253,133	)		526,893
Short Duration Bond Class I		6,474,301		(10,177,663	)		(3,703,362	)		10,923,250		(9,545,617	)		1,377,633
Emerging Markets Debt Class I		161,881		(464,689	)		(302,808	)		426,900		(386,411	)		40,489
Dividend Growth Class I		3,113,931		(3,008,563	)		105,368			2,716,315		(2,522,163	)		194,152

SA-100

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2022								2021
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
Equity Index Class I		10,801,175		(9,442,341	)		1,358,834			11,496,757		(7,070,888	)		4,425,869
Focused Growth Class I		1,258,104		(1,226,601	)		31,503			1,288,158		(1,026,131	)		262,027
Growth Class I		2,185,837		(2,190,601	)		(4,764	)		1,666,821		(1,633,196	)		33,625
Hedged Equity Class I		11,501,885		(2,257,463	)		9,244,422			4,125,259		(593,078	)		3,532,181
Hedged Equity Class P		154,748		(3,495	)		151,253			11,331		(110	)		11,221
Large-Cap Core Class I		726,043		(1,230,833	)		(504,790	)		509,497		(1,351,891	)		(842,394	)
Large-Cap Growth Class I		1,440,436		(1,662,351	)		(221,915	)		1,913,799		(2,439,452	)		(525,653	)
Large-Cap Value Class I		2,581,243		(2,034,484	)		546,759			2,301,536		(1,705,848	)		595,688
Mid-Cap Equity Class I		1,294,692		(1,188,134	)		106,558			1,435,596		(1,150,438	)		285,158
Mid-Cap Growth Class I		1,793,910		(1,864,694	)		(70,784	)		1,769,154		(2,310,510	)		(541,356	)
Mid-Cap Value Class I		1,132,067		(1,374,531	)		(242,464	)		1,870,873		(1,229,477	)		641,396
Small-Cap Equity Class I		550,984		(739,192	)		(188,208	)		1,268,750		(978,151	)		290,599
Small-Cap Growth Class I		1,350,778		(1,005,183	)		345,595			1,326,172		(1,305,457	)		20,715
Small-Cap Index Class I		2,208,799		(2,392,324	)		(183,525	)		2,712,916		(2,390,155	)		322,761
Small-Cap Value Class I		888,829		(1,192,201	)		(303,372	)		1,950,381		(1,639,389	)		310,992
Value Class I		1,615,640		(1,719,519	)		(103,879	)		813,035		(1,716,913	)		(903,878	)
Value Advantage Class I		1,890,379		(1,031,593	)		858,786			1,743,331		(900,761	)		842,570
Emerging Markets Class I		2,119,420		(1,559,687	)		559,733			2,011,814		(1,610,194	)		401,620
International Growth Class I		202,865		(43,359	)		159,506			44,003		(220	)		43,783
International Large-Cap Class I		1,591,388		(1,969,909	)		(378,521	)		1,870,931		(2,220,432	)		(349,501	)
International Small-Cap Class I		269,843		(382,091	)		(112,248	)		522,026		(701,855	)		(179,829	)
International Value Class I		1,485,792		(1,889,632	)		(403,840	)		2,255,434		(2,434,367	)		(178,933	)
Health Sciences Class I		1,154,743		(1,544,465	)		(389,722	)		1,574,858		(1,460,465	)		114,393
Real Estate Class I		670,682		(1,181,877	)		(511,195	)		1,104,597		(1,173,247	)		(68,650	)
Technology Class I		2,150,460		(2,032,774	)		117,686			2,056,777		(2,305,619	)		(248,842	)
ESG Diversified Class I		582,984		(63,162	)		519,822			516,188		(58,110	)		458,078
ESG Diversified Class P		52,676		(18	)		52,658
ESG Diversified Growth Class I		147,914		(72,610	)		75,304			31,581		(8,717	)		22,864
ESG Diversified Growth Class P		2,204		(3	)		2,201
PSF Avantis Balanced Allocation Class D		3,627,084		(3,987,236	)		(360,152	)		5,722,227		(2,335,529	)		3,386,698
PSF Avantis Balanced Allocation Class P		60,382		(14,811	)		45,571			147,450		(272	)		147,178
Pacific Dynamix - Conservative Growth Class I		3,208,239		(5,380,022	)		(2,171,783	)		5,853,820		(6,695,586	)		(841,766	)
Pacific Dynamix - Conservative Growth Class P		176,125		(2,140	)		173,985			7,601		(46	)		7,555
Pacific Dynamix - Moderate Growth Class I		15,239,330		(18,464,228	)		(3,224,898	)		22,841,735		(19,137,660	)		3,704,075
Pacific Dynamix - Moderate Growth Class P		44,743		(1,060	)		43,683			17,609		(95	)		17,514
Pacific Dynamix - Growth Class I		17,689,163		(8,497,490	)		9,191,673			25,988,171		(7,612,736	)		18,375,435
Pacific Dynamix - Growth Class P		75,123		(6,536	)		68,587			21,814		(114	)		21,700
Portfolio Optimization Conservative Class I		16,443,449		(25,264,754	)		(8,821,305	)		18,859,971		(32,777,216	)		(13,917,245	)
Portfolio Optimization Moderate-Conservative Class I		4,901,403		(20,223,871	)		(15,322,468	)		5,349,035		(20,207,921	)		(14,858,886	)
Portfolio Optimization Moderate Class I		10,414,921		(63,079,733	)		(52,664,812	)		16,525,176		(73,931,146	)		(57,405,970	)
Portfolio Optimization Growth Class I		6,480,726		(43,519,152	)		(37,038,426	)		10,047,820		(53,870,762	)		(43,822,942	)
Portfolio Optimization Aggressive-Growth Class I		1,715,460		(8,582,733	)		(6,867,273	)		2,980,652		(11,539,981	)		(8,559,329	)
Invesco Oppenheimer V.I. International Growth Series I		-		(10	)		(10	)		1,835		(4	)		1,831
Invesco Oppenheimer V.I. International Growth Series II		303,217		(284,277	)		18,940			397,755		(209,908	)		187,847
Invesco V.I. American Value Series I		3,726		(44	)		3,682
Invesco V.I. Balanced-Risk Allocation Series I		11,188		(78	)		11,110			2,216		(6	)		2,210
Invesco V.I. Balanced-Risk Allocation Series II		6,267,324		(3,734,424	)		2,532,900			2,505,361		(3,243,260	)		(737,899	)
Invesco V.I. Discovery Mid Cap Growth Series I		9,191		(427	)		8,764			3,135		(277	)		2,858
Invesco V.I. Equity and Income Series II		621,242		(690,971	)		(69,729	)		477,002		(733,954	)		(256,952	)
Invesco V.I. EQV International Equity Series I		9,082		(9,082	)		-
Invesco V.I. Global Real Estate Series II		264,633		(228,918	)		35,715			239,901		(199,644	)		40,257
Invesco V.I. Global Series II		213,284		(259,364	)		(46,080	)		269,345		(206,457	)		62,888
Invesco V.I. Main Street Small Cap Fund Series I		77,011		(716	)		76,295			5,845		(22	)		5,823
Invesco V.I. Nasdaq 100 Buffer - September Series I		9,806		(152	)		9,654
Invesco V.I. Nasdaq 100 Buffer - September Series II		335,212		(126,419	)		208,793			46,596		(622	)		45,974
Invesco V.I. Nasdaq 100 Buffer - December Series I		1,557		-			1,557

SA-101

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2022								2021
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
Invesco V.I. Nasdaq 100 Buffer - December Series II		400,694		(53,196	)		347,498
Invesco V.I. Nasdaq 100 Buffer - March Series I		1,515		(2	)		1,513
Invesco V.I. Nasdaq 100 Buffer - March Series II		150,369		(8,427	)		141,942
Invesco V.I. Nasdaq 100 Buffer - June Series II		331,919		(14,938	)		316,981
Invesco V.I. S&P 500 Buffer - September Series I		40,815		(1,819	)		38,996			1,771		(2	)		1,769
Invesco V.I. S&P 500 Buffer - September Series II		1,792,094		(874,639	)		917,455			413,131		(696	)		412,435
Invesco V.I. S&P 500 Buffer - December Series II		1,029,758		(89,873	)		939,885
Invesco V.I. S&P 500 Buffer - March Series II		1,064,211		(49,417	)		1,014,794
Invesco V.I. S&P 500 Buffer - June Series II		850,879		(26,517	)		824,362
Invesco V.I. Technology Series I		88,686		(18,830	)		69,856			13,115		(25	)		13,090
American Century VP Mid Cap Value Class I		15,101		(25	)		15,076
American Century VP Mid Cap Value Class II		1,451,942		(1,325,846	)		126,096			946,025		(923,526	)		22,499
American Funds IS American High-Income Trust Class 4		1,291,920		(1,254,301	)		37,619			1,661,279		(754,116	)		907,163
American Funds IS Asset Allocation Class 1		177,077		(36,635	)		140,442			152,019		(847	)		151,172
American Funds IS Asset Allocation Class 4		23,272,112		(31,044,464	)		(7,772,352	)		39,643,097		(34,046,064	)		5,597,033
American Funds IS Capital Income Builder Class 1		33,692		(4,099	)		29,593			49,423		(533	)		48,890
American Funds IS Capital Income Builder Class 4		1,363,353		(1,388,211	)		(24,858	)		1,619,302		(1,212,716	)		406,586
American Funds IS Capital World Bond Class 1		19,838		(1,371	)		18,467
American Funds IS Capital World Bond Class 4		437,803		(388,460	)		49,343			933,312		(311,928	)		621,384
American Funds IS Capital World Growth and Income Class 1		10,356		(66	)		10,290			4,267		(8	)		4,259
American Funds IS Capital World Growth and Income Class 4		661,516		(686,291	)		(24,775	)		1,500,897		(549,725	)		951,172
American Funds IS Global Balanced Class 4		475,238		(919,058	)		(443,820	)		1,375,270		(646,516	)		728,754
American Funds IS Global Growth Class 1		21,581		(771	)		20,810			21,777		(183	)		21,594
American Funds IS Global Growth Class 4		1,472,632		(1,317,854	)		154,778			2,189,966		(1,419,750	)		770,216
American Funds IS Global Small Capitalization Class 4		674,375		(343,536	)		330,839			1,068,473		(458,614	)		609,859
American Funds IS Growth Class 1		229,108		(19,631	)		209,477			40,161		(211	)		39,950
American Funds IS Growth Class 4		5,893,042		(5,481,783	)		411,259			5,635,549		(4,924,514	)		711,035
American Funds IS Growth-Income Class 1		138,724		(7,297	)		131,427			39,580		(203	)		39,377
American Funds IS Growth-Income Class 4		3,240,727		(4,006,893	)		(766,166	)		4,835,479		(3,835,173	)		1,000,306
American Funds IS International Class 1		43,842		(237	)		43,605			6,447		(3	)		6,444
American Funds IS International Class 4		1,078,210		(1,050,329	)		27,881			1,807,388		(1,092,380	)		715,008
American Funds IS International Growth and Income Class 1		25,743		(412	)		25,331			11,245		(24	)		11,221
American Funds IS International Growth and Income Class 4		933,730		(915,233	)		18,497			907,387		(827,421	)		79,966
American Funds IS Managed Risk Asset Allocation Class P1		31,573		(915	)		30,658			54,357		(54,357	)		-
American Funds IS Managed Risk Asset Allocation Class P2		2,649,521		(2,146,970	)		502,551			3,249,969		(1,989,212	)		1,260,757
American Funds IS New World Fund Class 1		89,676		(12,646	)		77,030			44,191		(43	)		44,148
American Funds IS New World Fund Class 4		962,696		(858,615	)		104,081			1,584,932		(863,277	)		721,655
American Funds IS The Bond Fund of America Class 1		364,013		(27,137	)		336,876			10,288		(8	)		10,280
American Funds IS The Bond Fund of America Class 4		2,538,464		(2,411,825	)		126,639			5,561,239		(2,576,567	)		2,984,672
American Funds IS U.S. Government Securities Class 1		99,479		(17,029	)		82,450			4,120		(1	)		4,119
American Funds IS U.S. Government Securities Class 4		2,358,978		(3,292,487	)		(933,509	)		2,896,778		(6,174,529	)		(3,277,751	)
American Funds IS Washington Mutual Investors Class 1		63,762		(10,385	)		53,377			15,746		(155	)		15,591
American Funds IS Washington Mutual Investors Class 4		3,157,042		(2,359,613	)		797,429			2,914,306		(1,554,159	)		1,360,147
BlackRock 60/40 Target Allocation ETF V.I. Class I		4,931,375		(2,276,313	)		2,655,062			5,121,759		(1,103,430	)		4,018,329
BlackRock Capital Appreciation V.I. Class III		243,656		(107,864	)		135,792			99,689		(205,787	)		(106,098	)
BlackRock Equity Dividend V.I. Class I		70,080		(31,598	)		38,482			31,403		(21	)		31,382
BlackRock Global Allocation V.I. Class I		122,716		(1,486	)		121,230			2,505		(21	)		2,484
BlackRock Global Allocation V.I. Class III		5,740,175		(13,621,894	)		(7,881,719	)		11,378,494		(15,733,458	)		(4,354,964	)
BlackRock High Yield V.I. Class I		74,794		(25,120	)		49,674			16,038		(262	)		15,776
BlackRock S&P 500 Index V.I. Class I		109,955		(35,241	)		74,714			17,564		(39	)		17,525
BlackRock Small Cap Index V.I. Class I		423,798		(15,460	)		408,338			43,849		(252	)		43,597
BlackRock Total Return V.I. Class I		122,838		(385	)		122,453			5,869		-			5,869
Delaware Ivy VIP Asset Strategy Class II		709,031		(413,336	)		295,695			703,373		(354,068	)		349,305
Delaware Ivy VIP Energy Class II		10,316,969		(9,346,357	)		970,612			8,557,566		(6,357,837	)		2,199,729
DFA VA Equity Allocation Institutional Class		4,744		(1,582	)		3,162			11,895		(23	)		11,872
DFA VA Global Bond Institutional Class		23,410		(13,184	)		10,226			34,055		(29	)		34,026

SA-102

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2022								2021
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
DFA VA Global Moderate Allocation Institutional Class		22,884		(1,121	)		21,763			16,258		(33	)		16,225
DFA VA International Small Institutional Class		22,047		(1,257	)		20,790			16,774		(149	)		16,625
DFA VA International Value Institutional Class		67,651		(8,324	)		59,327			68,137		(462	)		67,675
DFA VA Short-Term Fixed Institutional Class		243,109		(39,685	)		203,424			44,105		(369	)		43,736
DFA VA US Large Value Institutional Class		234,658		(17,517	)		217,141			35,143		(854	)		34,289
DFA VA US Targeted Value Institutional Class		49,986		(12,576	)		37,410			45,667		(1,057	)		44,610
Fidelity VIP Consumer Discretionary Initial Class		520		-			520
Fidelity VIP Contrafund Initial Class		33,927		(2,792	)		31,135			10,607		(32	)		10,575
Fidelity VIP Contrafund Service Class 2		2,721,212		(2,522,577	)		198,635			2,641,220		(2,232,870	)		408,350
Fidelity VIP Emerging Markets Initial Class		78,152		(10,751	)		67,401			14,711		(167	)		14,544
Fidelity VIP Energy Initial Class		38,843		(11,286	)		27,557			5,360		(16	)		5,344
Fidelity VIP Extended Market Index Initial Class		103,666		(14,558	)		89,108			70,163		(869	)		69,294
Fidelity VIP FundsManager 60% Investor Class		552,309		(13,624	)		538,685
Fidelity VIP FundsManager 60% Service Class 2		4,433,125		(2,957,772	)		1,475,353			5,536,354		(2,890,395	)		2,645,959
Fidelity VIP Government Money Market Initial Class		3,402,086		(1,867,858	)		1,534,228			90,146		(47,660	)		42,486
Fidelity VIP Government Money Market Service Class		58,394,604		(46,695,445	)		11,699,159			43,669,749		(52,873,745	)		(9,203,996	)
Fidelity VIP Growth Opportunities Initial Class		54,956		(2,033	)		52,923			3,905		(9	)		3,896
Fidelity VIP Index 500 Initial Class		318,445		(25,276	)		293,169			6,622		(60	)		6,562
Fidelity VIP Investment Grade Bond Initial Class		138,828		(683	)		138,145			6,902		(84	)		6,818
Fidelity VIP Strategic Income Service Class 2		1,400,871		(1,926,778	)		(525,907	)		2,805,261		(2,009,619	)		795,642
Fidelity VIP Value Strategies Initial Class		42,459		(1,764	)		40,695			13,901		(479	)		13,422
First Trust Dorsey Wright Tactical Core Class I		411,952		(980,598	)		(568,646	)		1,239,367		(669,900	)		569,467
First Trust Multi Income Allocation Class I		308,010		(436,666	)		(128,656	)		372,931		(225,853	)		147,078
First Trust/Dow Jones Dividend & Income Allocation Class I		5,522,994		(5,290,291	)		232,703			5,293,591		(6,102,440	)		(808,849	)
Franklin Allocation VIP Class 2		37,258		(124,173	)		(86,915	)		78,109		(124,095	)		(45,986	)
Franklin Allocation VIP Class 4		1,684,251		(2,014,069	)		(329,818	)		1,421,915		(2,219,343	)		(797,428	)
Franklin Income VIP Class 1		23,567		(1,031	)		22,536
Franklin Income VIP Class 2		1,739,346		(1,062,015	)		677,331			456,730		(925,312	)		(468,582	)
Franklin Mutual Global Discovery VIP Class 2		621,614		(1,920,305	)		(1,298,691	)		695,351		(2,630,441	)		(1,935,090	)
Franklin Mutual Shares VIP Class 1		5,246		(127	)		5,119
Franklin Rising Dividends VIP Class 1		92,975		(23,628	)		69,347			7,542		(73	)		7,469
Franklin Rising Dividends VIP Class 2		1,657,619		(1,970,230	)		(312,611	)		1,704,029		(1,730,188	)		(26,159	)
Franklin Small Cap Value VIP Class 1		13,174		(46	)		13,128
Franklin Small-Mid Cap Growth VIP Class 1		47,680		(260	)		47,420			7,789		(23	)		7,766
Franklin Strategic Income VIP Class 1		30,404		(23	)		30,381			3,442		-			3,442
Templeton Foreign VIP Class 1		-		(95	)		(95	)		3,186		(3	)		3,183
Templeton Global Bond VIP Class 1		6,312		(615	)		5,697			6,208		(86	)		6,122
Templeton Global Bond VIP Class 2		615,895		(1,643,506	)		(1,027,611	)		1,665,445		(1,808,912	)		(143,467	)
Goldman Sachs VIT Large Cap Value Institutional Shares		5,310		(45	)		5,265
Goldman Sachs VIT Mid Cap Value Institutional Shares		8,388		(74	)		8,314			9,339		(33	)		9,306
Goldman Sachs VIT Strategic Growth Institutional Shares		13,562		(85	)		13,477
Goldman Sachs VIT Trends Driven Allocation Institutional Shares		29,180		(2,799	)		26,381
Janus Henderson Balanced Institutional Shares		107,773		(29,354	)		78,419			163,962		(1,100	)		162,862
Janus Henderson Balanced Service Shares		65,812,220		(35,764,110	)		30,048,110			88,410,391		(31,343,129	)		57,067,262
Janus Henderson Enterprise Institutional Shares		63,341		(317	)		63,024			1,063		-			1,063
Janus Henderson Flexible Bond Service Shares		448,212		(747,538	)		(299,326	)		1,191,766		(1,187,784	)		3,982
JPMorgan Insurance Trust Core Bond Class 1		3,247		(1,447	)		1,800			477		(53	)		424
JPMorgan Insurance Trust Global Allocation Class 2		93,194		(158,090	)		(64,896	)		214,640		(215,235	)		(595	)
JPMorgan Insurance Trust Income Builder Class 2		38,218		(191,881	)		(153,663	)		168,903		(164,306	)		4,597
JPMorgan Insurance Trust Mid Cap Value Class 1		39,040		(411	)		38,629			-		(3	)		(3	)
JPMorgan Insurance Trust U.S. Equity Class 1		184		(431	)		(247	)		-		(3	)		(3	)
ClearBridge Variable Aggressive Growth - Class II		151,940		(105,499	)		46,441			326,691		(383,818	)		(57,127	)
Western Asset Core Plus VIT Class I		113,454		(3,498	)		109,956			63,084		(1,565	)		61,519
Lord Abbett Bond Debenture Class VC		1,725,061		(2,310,709	)		(585,648	)		3,816,048		(1,605,028	)		2,211,020
Lord Abbett Total Return Class VC		1,546,738		(3,329,727	)		(1,782,989	)		3,793,493		(3,777,743	)		15,750
MFS International Growth - Initial Class		41,142		(2,260	)		38,882			50,560		(84	)		50,476

SA-103

SEPARATE ACCOUNT A

NOTES TO FINANCIAL STATEMENTS (Continued)

	2022								2021
	Units		Units			Net Increase			Units		Units			Net Increase
Variable Accounts	Issued		Redeemed			(Decrease)			Issued		Redeemed			(Decrease)
MFS Massachusetts Investors Growth Stock - Service Class		258,313		(378,180	)		(119,867	)		199,805		(728,225	)		(528,420	)
MFS New Discovery Series - Initial Class		35,397		(3,697	)		31,700			51,817		(201	)		51,616
MFS Total Return Series - Service Class		4,895,421		(4,444,905	)		450,516			5,080,760		(4,698,370	)		382,390
MFS Utilities Series - Initial Class		11,805		(361	)		11,444			3,483		(10	)		3,473
MFS Utilities Series - Service Class		1,645,703		(1,253,200	)		392,503			836,064		(753,547	)		82,517
MFS Value Series - Initial Class		9,212		(193	)		9,019			1,871		(11	)		1,860
MFS Value Series - Service Class		171,446		(428,946	)		(257,500	)		221,834		(639,543	)		(417,709	)
Neuberger Berman U.S. Equity Index PutWrite Strategy Class S		170,964		(82,450	)		88,514			142,183		(45,871	)		96,312
TOPS Aggressive Growth ETF Class 1		6,254		(5,802	)		452
TOPS Balanced ETF Class 1		16,256		(186	)		16,070			5,092		-			5,092
TOPS Conservative ETF Class 1		65,113		(31,881	)		33,232
TOPS Growth ETF Class 1		1,582		(6,823	)		(5,241	)		23,721		(75	)		23,646
TOPS Managed Risk Growth ETF Class 1		937		(6	)		931
TOPS Moderate Growth ETF Class 1		5,694		(19	)		5,675
PIMCO All Asset - Advisor Class		75,492		(94,546	)		(19,054	)		289,620		(107,175	)		182,445
PIMCO CommodityRealReturn Strategy - Advisor Class		7,150,546		(6,218,646	)		931,900			2,391,281		(944,858	)		1,446,423
PIMCO Emerging Markets Bond - Institutional Class		20,785		(2,663	)		18,122			16,788		(498	)		16,290
PIMCO Income - Advisor Class		868,742		(686,111	)		182,631			1,489,662		(176,190	)		1,313,472
PIMCO Long-Term U.S. Government - Institutional Class		29,563		(301	)		29,262
PIMCO Low Duration - Institutional Class		102,201		(29,353	)		72,848			4,377		(10	)		4,367
PIMCO Total Return - Institutional Class		180,960		(15,793	)		165,167			11,739		(266	)		11,473
PSF International Growth Class II		-		(132	)		(132	)		-		(112	)		(112	)
PSF Mid-Cap Growth Class II		29		(18	)		11			18		(5	)		13
PSF PGIM Jennison Growth Class II		-		(2	)		(2	)		-		(262	)		(262	)
PSF PGIM Jennison Value Class II		-		(142	)		(142	)		-		(117	)		(117	)
Schwab S&P 500 Index		1,638,370		(306,417	)		1,331,953			651,714		(4,743	)		646,971
Schwab VIT Balanced		371,761		(793,255	)		(421,494	)		444,279		(654,051	)		(209,772	)
Schwab VIT Balanced with Growth		303,044		(653,618	)		(350,574	)		239,322		(579,406	)		(340,084	)
Schwab VIT Growth		457,901		(836,894	)		(378,993	)		706,449		(879,152	)		(172,703	)
State Street Total Return V.I.S. Class 3		902,141		(2,991,794	)		(2,089,653	)		1,231,952		(3,364,282	)		(2,132,330	)
T. Rowe Price Blue Chip Growth - I		128,053		(3,840	)		124,213			5,670		(12	)		5,658
T. Rowe Price Equity Income - I		17,318		(1,729	)		15,589			10,208		(393	)		9,815
T. Rowe Price Health Sciences - I		22,830		(1,882	)		20,948			27,974		(318	)		27,656
VanEck VIP Global Resources Class S		2,614,756		(2,121,343	)		493,413			1,924,028		(1,864,053	)		59,975
Vanguard VIF Balanced		771,530		(69,941	)		701,589			357,347		(7,321	)		350,026
Vanguard VIF Capital Growth		119,758		(16,863	)		102,895			31,683		(52	)		31,631
Vanguard VIF Conservative Allocation		283,157		(146,244	)		136,913			254,115		(16,395	)		237,720
Vanguard VIF Diversified Value		46,580		(10,686	)		35,894			70,606		(899	)		69,707
Vanguard VIF Equity Income		258,914		(102,201	)		156,713			23,414		(106	)		23,308
Vanguard VIF Equity Index		17,164		(20,825	)		(3,661	)		213,224		(1,061	)		212,163
Vanguard VIF Global Bond Index		26,299		(3,816	)		22,483			89,432		(44	)		89,388
Vanguard VIF Growth		168,300		(27,106	)		141,194			58,877		(420	)		58,457
Vanguard VIF High Yield Bond		88,024		(28,526	)		59,498			39,217		(564	)		38,653
Vanguard VIF International		77,163		(27,443	)		49,720			20,243		(232	)		20,011
Vanguard VIF Mid-Cap Index		334,080		(32,822	)		301,258			64,122		(4,169	)		59,953
Vanguard VIF Moderate Allocation		1,004,201		(101,577	)		902,624			638,762		(5,555	)		633,207
Vanguard VIF Real Estate Index		122,425		(3,294	)		119,131			15,078		(54	)		15,024
Vanguard VIF Short-Term Investment-Grade		362,068		(45,629	)		316,439			116,492		(155	)		116,337
Vanguard VIF Total Bond Market Index		505,995		(266,944	)		239,051			655,711		(4,288	)		651,423
Vanguard VIF Total International Stock Market Index		566,398		(29,480	)		536,918			301,163		(1,591	)		299,572
Vanguard VIF Total Stock Market Index		616,249		(148,213	)		468,036			318,409		(22,072	)		296,337

SA-104

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of

Pacific Life Insurance Company:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of Separate Account A of Pacific Life Insurance Company (the "Separate Account") comprising the variable accounts listed in Appendix A, including the schedules of investments as of December 31, 2022, the related statements of operations, statements of changes in net assets, and financial highlights for the periods indicated in Appendix A, and the related notes. In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Variable Accounts constituting the Separate Account A of Pacific Life Insurance Company as of December 31, 2022, the results of their operations, changes in their net assets, and financial highlights for each of the periods indicated in Appendix A, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on the Separate Account’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Separate Account is not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Separate Account’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of investments owned as of December 31, 2022, by correspondence with the transfer agents. We believe that our audits provide a reasonable basis for our opinion.

Costa Mesa, California

February 28, 2023

We have served as the auditor of Separate Account A of Pacific Life Insurance Company since 1996.

SA-105

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-106

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-107

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

Variable Account Comprising the Separate Account	Statement of Operations	Statement of Changes in Net Assets	Financial Highlights
Invesco Oppenheimer V.I. International Growth Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from September 14, 2021 (commencement of operations) through December 31, 2021
Invesco Oppenheimer V.I. International Growth Series II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Invesco® V.I. American Value Series I	For the period June 14, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Balanced-Risk Allocation Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from June 18, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. Balanced-Risk Allocation Series II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Invesco® V.I. Discovery Mid Cap Growth Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from June 4, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. Equity and Income Series II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Invesco® V.I. EVQ International Equity Series I	For the period August 15, 2022 (commencement of operations) through September 16, 2022
Invesco® V.I. Global Real Estate Series II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Invesco® V.I. Global Series II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Invesco® V.I. Main Street Small Cap Fund Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from August 12, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. Nasdaq 100 Buffer - September Series I	For the period January 24, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Nasdaq 100 Buffer - September Series II	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from October 12, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. Nasdaq 100 Buffer Fund - December Series I	For the period March 14, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Nasdaq 100 Buffer Fund - December Series II	For the period January 3, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Nasdaq 100 Buffer Fund - March Series I	For the period September 2, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Nasdaq 100 Buffer Fund - March Series II	For the period April 1, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Nasdaq 100 Buffer Fund - June Series II	For the period July 1, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. S&P 500 Buffer - September Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from November 11, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. S&P 500 Buffer - September Series II	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from October 7, 2021 (commencement of operations) through December 31, 2021
Invesco® V.I. S&P 500 Buffer Fund - December Series II	For the period January 3, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. S&P 500 Buffer Fund - March Series II	For the period April 1, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. S&P 500 Buffer Fund - June Series II	For the period July 1, 2022 (commencement of operations) through December 31, 2022
Invesco® V.I. Technology Series I	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from June 22, 2021 (commencement of operations) through December 31, 2021
American Century VP Mid Cap Value Class I	For the period June 14, 2022 (commencement of operations) through December 31, 2022
American Century VP Mid Cap Value Class II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
American Funds IS American High-Income Trust Class 4	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022

SA-108

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-109

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-110

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-111

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-112

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-113

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONTINUED)

APPENDIX A (CONTINUED)

SA-114

*67466202222000100*

PACIFIC LIFE INSURANCE COMPANY

Financial Statements - Statutory Basis

as of December 31, 2022 and 2021 and

for the years ended December 31, 2022, 2021 and 2020,

Supplemental Schedule of Selected Financial Data

as of and for the year ended December 31, 2022,

Supplemental Summary Investment Schedule,

Supplemental Schedule of Investment Risk Interrogatories,

and Supplemental Schedule of Reinsurance Disclosures

as of December 31, 2022

and Independent Auditor’s Report

Deloitte & Touche LLP
695 Town Center Drive
Suite 1000
Costa Mesa, CA 92626
USA

Tel: 714 436 7100
Fax: 714 436 7200
www.deloitte.com

INDEPENDENT AUDITOR’S REPORT

Pacific Life Insurance Company:

Opinions

We have audited the statutory-basis financial statements of Pacific Life Insurance Company (the "Company"), which comprise the statements of admitted assets, liabilities, and capital and surplus - statutory basis as of December 31, 2022 and 2021, and the related statements of operations - statutory basis, capital and surplus - statutory basis, and cash flows - statutory basis for each of the three years in the period ended December 31, 2022, and the related notes to the statutory-basis financial statements (collectively referred to as the “statutory-basis financial statements”).

Unmodified Opinion on Statutory-Basis of Accounting

In our opinion, the accompanying statutory-basis financial statements present fairly, in all material respects, the admitted assets, liabilities, and capital and surplus of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2022, in accordance with the accounting practices prescribed or permitted by the Nebraska Department of Insurance as described in Note 1.

Adverse Opinion on Accounting Principles Generally Accepted in the United States of America

In our opinion, because of the significance of the matter described in the Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America section of our report, the statutory-basis financial statements do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Company as of December 31, 2022 and 2021, or the results of its operations or its cash flows for each of the three years in the period ended December 31, 2022.

Basis for Opinions

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Statutory-Basis Financial Statements section of our report. We are required to be independent of the Company, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Basis for Adverse Opinion on Accounting Principles Generally Accepted in the United States of America

As described in Note 1 to the statutory-basis financial statements, the statutory-basis financial statements are prepared by the Company using the accounting practices prescribed or permitted by the Nebraska Department of Insurance, which is a basis of accounting other than accounting principles generally accepted in the United States of America, to meet the requirements of the Nebraska Department of Insurance. The effects on the statutory-basis financial statements of the variances between the statutory- basis of accounting described in Note 2 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material and pervasive.

Responsibilities of Management for the Statutory-Basis Financial Statements

Management is responsible for the preparation and fair presentation of the statutory-basis financial statements in accordance with the accounting practices prescribed or permitted by the Nebraska Department of Insurance. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of statutory-basis financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the statutory-basis financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year after the date that the statutory-basis financial statements are issued.

Auditor’s Responsibilities for the Audit of the Statutory-Basis Financial Statements

Our objectives are to obtain reasonable assurance about whether the statutory-basis financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the statutory-basis financial statements.

In performing an audit in accordance with GAAS, we:

●	Exercise professional judgment and maintain professional skepticism throughout the audit.

●

Identify and assess the risks of material misstatement of the statutory-basis financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the statutory-basis financial statements.

●	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Accordingly, no such opinion is expressed.

●	Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the statutory-basis financial statements.

●	Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

Report on Supplemental Schedules

Our 2022 audit was conducted for the purpose of forming an opinion on the 2022 statutory-basis financial statements as a whole. The supplemental schedule of selected financial data, the supplemental summary investment schedule, the supplemental schedule of investment risk interrogatories, and the supplemental schedule of reinsurance disclosures as of and for the year ended December 31, 2022 are presented for purposes of additional analysis and are not a required part of the 2022 statutory-basis financial statements. These schedules are the responsibility of the Company’s management and were derived from and relate directly to the underlying accounting and other records used to prepare the statutory-basis financial statements. Such schedules have been subjected to the auditing procedures applied in our audit of the 2022 statutory-basis financial statements and certain additional procedures, including comparing and reconciling such schedules directly to the underlying accounting and other records used to prepare the statutory-basis financial statements or to the statutory-basis financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, such schedules are fairly stated in all material respects in relation to the 2022 statutory-basis financial statements as a whole.

March 20, 2023

Pacific Life Insurance Company

S T A T E M E N T S O F A D M I T T E D A S S E T S,

L I A B I L I T I E S A N D C A P I T A L A N D S U R P L U S - S T A T U T O R Y B A S I S

	December 31,
(In Millions, except share data)	2022		2021
ADMITTED ASSETS
Bonds	$73,845		$67,346
Preferred stocks	4		2
Common stocks	669		695
Mortgage loans	19,028		15,923
Real estate	153		149
Cash, cash equivalents and short-term investments	888		993
Contract loans	7,597		7,489
Derivatives	1,434		2,206
Securities lending reinvested collateral assets	2,828		3,327
Other invested assets	10,026		5,743
Investment income due and accrued	908		1,086
Net deferred tax asset	334		462
Other assets	1,965		2,203
Separate account assets	58,636		70,442

TOTAL ADMITTED ASSETS	$178,315		$178,066

LIABILITIES AND CAPITAL AND SURPLUS
Liabilities:
Aggregate reserves	$79,459		$76,028
Liability for deposit-type contracts	18,585		11,198
Transfers to separate accounts due or accrued, net	(685	)	(792	)
Other liabilities	9,447		8,636
Asset valuation reserve	1,171		1,201
Separate account liabilities	58,636		70,442
TOTAL LIABILITIES	166,613		166,713
Capital and Surplus:
Common stock - $50 par value; 600,000 shares authorized, issued and outstanding	30		30
Paid-in surplus	2,536		1,836
Other surplus adjustments	91		122
Special surplus adjustments	328
Unassigned surplus	7,129		7,690
Surplus notes	1,588		1,675
TOTAL CAPITAL AND SURPLUS	11,702		11,353

TOTAL LIABILITIES AND CAPITAL AND SURPLUS	$178,315		$178,066

See Notes to Financial Statements - Statutory Basis

3

Pacific Life Insurance Company

S T A T E M E N T S O F O P E R A T I O N S - S T A T U T O R Y B A S I S

	Years Ended December 31,
(In Millions)	2022		2021		2020
REVENUES
Premiums and annuity considerations	$14,298		$13,984		$11,760
Net investment income	3,401		3,276		3,206
Reserve adjustments on reinsurance ceded	(450	)	(677	)	(779	)
Separate account fees	1,324		1,365		1,218
Other income	157		287		212
TOTAL REVENUES	18,730		18,235		15,617

BENEFITS AND EXPENSES
Current and future policy benefits	15,322		16,692		13,785
Commission expense	1,057		1,000		979
Operating expenses	1,210		1,084		1,085
TOTAL BENEFITS AND EXPENSES	17,589		18,776		15,849

NET GAIN (LOSS) FROM OPERATIONS BEFORE FEDERAL INCOME TAXES	1,141		(541	)	(232	)
Federal income tax expense (benefit)	9		210		(197	)

NET GAIN (LOSS) FROM OPERATIONS	1,132		(751	)	(35	)
Net realized capital gains (losses) less tax	(981	)	1,612		(64	)

NET INCOME (LOSS)	$151		$861		($99	)

See Notes to Financial Statements - Statutory Basis

4

Pacific Life Insurance Company

S T A T E M E N T S O F C A P I T A L A N D S U R P L U S - S T A T U T O R Y B A S I S

(In Millions)	Common Stock	Paid-in Surplus	Other Surplus Adjustments		Special Surplus Adjustments	Unassigned Surplus		Surplus Notes		Total
BALANCES, JANUARY 1, 2020	$30	$1,186	$139		$—	$7,425		$1,730		$10,510
Net loss						(99	)			(99	)
Change in net unrealized capital losses less tax						(157	)			(157	)
Change in net deferred income tax						(68	)			(68	)
Change in nonadmitted assets						35				35
Net change in surplus notes								(56	)	(56	)
Capital contribution from parent		650								650
Change in reserve on account of change in valuation basis						341				341
Change in asset valuation reserve						259				259
Surplus contributed to separate accounts						(82	)			(82	)
Other changes in surplus in separate accounts						82				82
Other surplus adjustment for derivatives			(8	)						(8	)
Prior period adjustment						(44	)			(44	)
Change in other surplus transactions						1				1
BALANCES, DECEMBER 31, 2020	30	1,836	131		—	7,693		1,674		11,364
Net income						861				861
Change in net unrealized capital gains less tax						318				318
Change in net deferred income tax						88				88
Change in nonadmitted assets						(84	)			(84	)
Change in asset valuation reserve						(732	)			(732	)
Surplus contributed to separate accounts						(68	)			(68	)
Other changes in surplus in separate accounts						68				68
Dividend to parent						(450	)			(450	)
Other surplus adjustment for derivatives			(9	)						(9	)
Change in other surplus transactions						(4	)	1		(3	)
BALANCES, DECEMBER 31, 2021	30	1,836	122		—	7,690		1,675		11,353
Net income					254	(103	)			151
Change in net unrealized capital gains (losses) less tax					74	(247	)			(173	)
Change in net deferred income tax						204				204
Change in nonadmitted assets						(445	)			(445	)
Capital contribution from parent		700								700
Change in asset valuation reserve						30				30
Surplus contributed to separate accounts						(194	)			(194	)
Other changes in surplus in separate accounts						194				194
Other surplus adjustment for derivatives			(31	)						(31	)
Net change in surplus notes								(87	)	(87	)
BALANCES, DECEMBER 31, 2022	$30	$2,536	$91		$328	$7,129		$1,588		$11,702

See Notes to Financial Statements - Statutory Basis

5

Pacific Life Insurance Company

S T A T E M E N T S O F C A S H F L O W S - S T A T U T O R Y B A S I S

	Years Ended December 31,
(In Millions)	2022		2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES
Premiums collected, net of reinsurance	$14,258		$13,658		$11,279
Net investment income	3,296		3,245		3,347
Other income	1,321		1,073		728
Benefits and loss related payments	(11,340	)	(11,645	)	(9,577	)
Net transfers (to) from separate accounts	(285	)	(261	)	246
Commissions, expenses paid and other deductions	(2,190	)	(1,998	)	(2,077	)
Dividends paid to policyholders	(8	)	(9	)	(9	)
Federal income taxes (paid) recovered, net	358		(215	)	(482	)
NET CASH PROVIDED BY OPERATING ACTIVITIES	5,410		3,848		3,455

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments sold, matured or repaid
Bonds	8,369		8,034		6,437
Stocks	138		50		166
Mortgage loans	1,058		1,311		533
Other invested assets	2,998		2,388		1,862
Miscellaneous proceeds	2,182		2,063		1,756
Cost of investments acquired
Bonds	(15,342	)	(15,960	)	(11,915	)
Stocks	(182	)	(59	)	(487	)
Mortgage loans	(4,183	)	(2,154	)	(1,903	)
Other invested assets	(6,571	)	(3,280	)	(2,416	)
Miscellaneous applications	(2,427	)	(1,881	)	(2,420	)
Net increase (decrease) in contract loans	(108	)	201		250
NET CASH USED IN INVESTING ACTIVITIES	(14,068	)	(9,287	)	(8,137	)
(Continued)

See Notes to Financial Statements - Statutory Basis

6

Pacific Life Insurance Company

S T A T E M E N T S O F C A S H F L O W S - S T A T U T O R Y B A S I S

	Years Ended December 31,
(In Millions)	2022		2021		2020
(Continued)
CASH FLOWS FROM FINANCING AND MISCELLANEOUS ACTIVITIES
Net deposits on deposit-type contracts	$7,180		$4,241		$2,029
Borrowed funds			(49	)	(1	)
Net change in surplus notes	(85	)			(56	)
Contribution from parent	700				650
Dividend to parent			(303	)
Other cash provided	758		543		349
NET CASH PROVIDED BY FINANCING AND MISCELLANEOUS ACTIVITIES	8,553		4,432		2,971

Net change in cash, cash equivalents and short-term investments	(105	)	(1,007	)	(1,711	)
Cash, cash equivalents and short-term investments, beginning of year	993		2,000		3,711

CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS, END OF YEAR	$888		$993		$2,000

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid	$111		$100		$101

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION FOR NON-CASH TRANSACTIONS
Bonds disposed and acquired	$947		$747		$962
Stocks disposed and acquired	515		27		42
Federal tax credits received	239		22		338
Bonds transferred to other invested assets	140
Mortgage loans disposed and acquired	16		104		22
Premium tax credits received	6		8		5
Bond interest in-kind received	2		4		8
Assets in-kind received as deposits			515
Assets in-kind received as premiums, net of amounts transferred to the separate account			245		304
Bond dividend paid to parent			147
Bond dividend received from subsidiary			20
Bonds converted to stocks			10
Interest purchased received as premiums			7		3
Transfer between affiliated private equity funds					22

See Notes to Financial Statements - Statutory Basis

7

Pacific Life Insurance Company

N O T E S T O F I N A N C I A L S T A T E M E N T S - S T A T U T O R Y B A S I S

1.	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NATURE OF OPERATIONS

Pacific Life Insurance Company (Pacific Life or the Company) was established in 1868 and is domiciled in the State of Nebraska as a stock life insurance company. The Company is an indirect subsidiary of Pacific Mutual Holding Company (PMHC), a Nebraska mutual holding company, and a wholly owned subsidiary of Pacific LifeCorp, an intermediate Delaware stock holding company.

The Company and its subsidiaries have primary business operations consisting of life insurance, annuities, and reinsurance. The Company’s primary business operations provide life insurance products, individual annuities and mutual funds, and offers a variety of investment products and services to individuals and businesses. The top geographic locations in the United States for statutory premiums and annuity considerations, and deposits were California, Utah, Texas, Missouri, and Florida representing 15%, 11%, 8%, 8%, and 7%, respectively, of total statutory premiums and annuity considerations, and deposits for the year ended December 31, 2022. No other jurisdiction accounted for more than 5% of the total.

BASIS OF PRESENTATION

The Company prepared its financial statements - statutory basis in accordance with accounting practices prescribed or permitted by the Nebraska Department of Insurance (NE DOI). The National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual (NAIC SAP) has been adopted as a component of prescribed or permitted practices by the NE DOI. Prescribed statutory accounting practices include state laws and regulations. Additionally, the Director of the NE DOI has the right to permit other specific practices, which deviate from prescribed practices.

The NE DOI has approved a permitted accounting practice, effective January 1, 2022, allowing the Company to calculate the policy reserves for funding agreements based on a methodology that differs from the NAIC SAP. Policy reserves for funding agreements are calculated based on Statement of Statutory Accounting Principle (SSAP) No. 52, Deposit-Type Contracts, and the reserving methodologies in Appendices A-820 and A-822 which utilizes a reference rate in the valuation interest rate calculation based on an average of a historical twelve-month period ending on June 30 of the calendar year of issue or purchase. In the permitted practice, the Company utilizes a reference rate in the valuation interest rate calculation based on the day of the funding agreement issuance which results in a policy reserve less than or equal to the NAIC SAP policy reserve.

8

The following table reconciles the Company’s net income (loss) for the years ended December 31, 2022, 2021 and 2020 and capital and statutory surplus as of December 31, 2022 and 2021 between NAIC SAP and practices prescribed or permitted by the NE DOI:

	Years Ended December 31,
	2022	2021	2020
	(In Millions)
Net income (loss), Nebraska basis	$151	$861	($99)
State permitted practices that increase (decrease) NAIC SAP Change in policy reserves	20
Net income (loss), NAIC SAP	$131	$861	($99)

NAIC SAP and accounting practices prescribed or permitted by the NE DOI differ in certain respects, which in some cases are materially different from accounting principles generally accepted in the United States of America (U.S. GAAP) (Note 2).

The Company has evaluated events subsequent to December 31, 2022 through the date the financial statements - statutory basis were available to be issued and has concluded that no events have occurred that require adjustments to these financial statements - statutory basis.

In October 2022, Pacific Life announced its agreement to sell its third-party credit asset management firm, Pacific Asset Management, LLC, (PAM), whose clients include Pacific Funds, to Aristotle Capital Management, LLC. PAM is a wholly owned subsidiary of Pacific Global Asset Management LLC, included in other invested assets. The transaction is expected to close during the first half of 2023, subject to customary approvals and conditions.

Economic and capital market uncertainties have arisen as a result of the spread of COVID-19. The impact of COVID-19 on the Company is constantly evolving and its future effects are uncertain and cannot be reasonably estimated as of the date of this filing. Interest rates, credit spreads and equity market levels have had the most significant effect on the Company’s financial statements. COVID-19 related claims have not been material through December 31, 2022. The Company continues to actively monitor direct and indirect impacts of the pandemic on its financial statements, especially in relation to claims and the investments portfolio.

USE OF ESTIMATES

The preparation of financial statements - statutory basis in conformity with accounting practices prescribed or permitted by regulatory authorities requires management to make estimates and assumptions that affect the reported amounts of admitted assets and liabilities. It also requires disclosure of contingent assets and liabilities at the date of the financial statements - statutory basis and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

9

RECONCILIATION FROM ANNUAL REPORT TO THE AUDITED FINANCIAL STATEMENTS - STATUTORY BASIS

Subsequent to the filing of the Company’s 2022 Annual Statement, the Company determined the balances for investment income due and accrued and aggregate write-in for liabilities included in other liabilities were not properly presented as of December 31, 2022, which resulted in the reconciliations included in the table below. There was no impact to surplus, net income (loss) or the statement of cash flows.

	Annual Report	Change	Audited Financial Statements
		(In Millions)
Statement of Admitted Assets, Liabilities and Capital and Surplus - Statutory Basis
December 31, 2022:
Assets:
Investment income due and accrued	$1,390	($482)	$908

Total assets	178,797	(482)	178,315

Liabilities:
Other liabilities	$9,929	($482)	$9,447

Total liabilities	167,095	(482)	166,613

ACCOUNTING CHANGES, CORRECTIONS OF ERRORS AND RECLASSIFICATIONS

The Inflation Reduction Act was enacted on August 16, 2022 and imposes a 15% Corporate Alternative Minimum Tax (CAMT) on corporations with three-year average adjusted financial statement income over $1.0 billion that is effective January 1, 2023. The CAMT is payable to the extent the CAMT liability exceeds the regular corporate income tax liability; however, any CAMT paid would be available as a credit with indefinite carryover that could reduce future regular tax in excess of CAMT.

During the fourth quarter of 2022, the NAIC revised Interpretation 22-02, Third Quarter 2022 through First Quarter 2023 Reporting of the Inflation Reduction Act – Corporate Alternative Minimum Tax (INT 22-02), that for a limited time provides a partial exception to SSAP No. 101, Income Taxes, and SSAP No. 9, Subsequent Events. Under INT 22-02, changes in estimates related to CAMT that arise from the Inflation Reduction Act need not be recognized in the year ended December 31, 2022 financial statements - statutory basis nor recognized as Type 1 subsequent events; rather, the Company needs to determine if it will be liable for CAMT in 2023. On December 13, 2022, the NAIC extended the exceptions of INT 22-02 to apply for the December 31, 2022 and March 31, 2023 financial statements - statutory basis with automatic nullification on June 15, 2023. The Company has determined that the consolidated group of corporations of which the Company is a member expects to be subject to the CAMT; however, the Company has not determined if it expects to be liable for the CAMT. Accordingly, the year ended December 31, 2022 financial statements - statutory basis do not include an estimated impact of the CAMT because a reasonable estimate cannot be made.

Effective December 31, 2022, the Company adopted revisions to SSAP No. 43R, Residual Tranches, which clarified that residual tranches shall be valued at the lower of amortized cost or fair value and shall be reported as other invested assets rather than bonds on the statements of admitted assets, liabilities and capital and surplus - statutory basis. The impact of this adoption on the Company’s financial statements was immaterial.

Effective January 1, 2021, the Company adopted revisions to SSAP No. 86, Derivatives, to ensure reporting consistency for derivatives with financing components. A financing derivative is one which the premium to acquire the derivative is paid throughout the derivative term, or at maturity. The revisions require that at acquisition and subsequently, the gross reported fair value of the derivative shall exclude the impact of the financing premiums and the premiums payable shall be separately reported as payable for securities. The impact of the adoption on January 1, 2021 was an increase to Derivatives of $330 million, an increase to Investment Income Due and Accrued of $290 million and an increase to Payable for Securities included in Other liabilities of $620 million.

10

Effective January 1, 2021, the Company adopted SSAP No. 26R, Bonds, and SSAP No. 32R, Preferred Stock, which clarified the valuation and measurement for perpetual bonds and stocks held as investments. Perpetual bonds that do not possess or no longer possess an effective call option shall be reported at fair value regardless of NAIC designation, otherwise reported at amortized cost. Perpetual preferred stocks shall now be reported at fair value, not to exceed any current effective call price. For perpetual bonds and preferred stocks recorded at fair value, changes in fair value are recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. The impact of this adoption on the Company’s financial statements - statutory basis was immaterial.

Variable annuity contracts are subject to Actuarial Guideline 43 (AG43) and the Valuation Manual section VM-21 (VM-21). As a result of updates to AG43 and VM-21, effective January 1, 2020, for all variable annuity contracts, $239 million of reserves were released with an offsetting adjustment in surplus, change in reserve on account of change in valuation basis, on the statements of capital and surplus - statutory basis.

For the annuity business retroceded by Pacific Life Re Limited (PLRL), a wholly-owned subsidiary of Pacific LifeCorp, the age calculation methodology was changed from an age last birthday approach to an age nearest birthday basis, which is consistent with the development of the prescribed valuation mortality tables. As a result of this change, effective January 1, 2020, $102 million of aggregate reserves were released with an offsetting adjustment in surplus, change in reserve on account of change in valuation basis, on the statements of capital and surplus - statutory basis.

The Company has a reinsurance agreement with Pacific Life Re Global Limited (RGBM), a wholly-owned, indirect subsidiary of Pacific LifeCorp domiciled in Bermuda, whereby the Company retrocedes statutory reserves for a majority of the underlying Yearly Renewable Term (YRT) treaties on a 100% coinsurance with funds withheld basis to RGBM. During the year ended December 31, 2020, the Company determined that, since inception of the agreement in 2011, reinsurance premiums retroceded by the Company to RGBM had been calculated and retroceded based on gross written premiums received by the Company, rather than earned premiums as defined in the reinsurance agreement. The impact of this correction, net of tax, as of December 31, 2020 was a decrease to unassigned surplus as a prior period adjustment on the statements of capital and surplus - statutory basis of $44 million.

Subsequent to the filing of the Company’s 2021 Annual Statement, the Company determined that the disclosure related to the recorded investment for commercial mortgage loans in the identification of mortgage loans in which the insurer is a participant or co-lender in a mortgage loan agreement was not properly presented as of December 31, 2021, which resulted in a disclosure overstatement of $300 million. The recorded investment was correctly disclosed in the Audited Financial Statements - Statutory Basis (see Note 5). There was no impact to surplus or net income (loss).

FUTURE ADOPTION OF ACCOUNTING PRINCIPLES

During 2020, the NAIC issued Interpretation 20-01 to provide statutory accounting and reporting guidance for the adoption of Accounting Standards Update 2020-04 Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting issued by the Financial Accounting Standards Board. This Interpretation adopts, with minor modification, the U.S. GAAP adopted guidance, which provides optional expedients and exceptions for applying current accounting guidance to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met, through December 31, 2024.

INVESTMENTS AND DERIVATIVE INSTRUMENTS

Bonds not backed by other loans are generally stated at amortized cost using the effective interest method. Bonds, including loan-backed and structured securities (LBASS), with a NAIC designation of 6 are stated at the lower of amortized cost or fair value with changes in fair value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. Perpetual bonds that do not possess or no longer possess an effective call option shall be reported at fair value regardless of NAIC designation, otherwise reported at amortized cost.

LBASS are generally stated at amortized cost using the effective interest method. Income is determined considering anticipated cash flows based on industry prepayment models and internal estimates. These assumptions are consistent with the current interest rate and economic conditions at the time of valuation. For LBASS purchased with high credit quality and fixed interest rates, the effective yield is recalculated on a retrospective basis. For all other LBASS, including those where cash flows are deemed other than temporarily impaired, effective yield is recalculated on a prospective basis.

11

Preferred stocks are generally stated at amortized cost. Preferred stocks designated as low quality, lower quality and in or near default are stated at the lower of amortized cost or fair value with changes in fair value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. Perpetual preferred stocks are reported at fair value, not to exceed any current effective call price, with changes in fair value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax.

Investments in unaffiliated common stocks are valued at fair value with changes in fair value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax.

The Company has certain investments, including financial instruments, denominated in currencies other than the U.S. dollar. All assets and liabilities denominated in foreign currencies are remeasured at year end exchange rates, while revenue and expenses are measured at the transaction date and recorded in net unrealized capital gains (losses) less tax. The Company primarily uses foreign currency interest rate swaps to manage its foreign exchange risk.

Other than temporary impairment (OTTI) evaluation is a quantitative and qualitative process subject to significant estimates and management judgment. The Company has controls and procedures in place to monitor securities and identify those that are subject to greater analysis for OTTI. The Company has an investment impairment committee that reviews and evaluates investments for potential OTTI at least on a quarterly basis.

In determining whether a decline in value is other than temporary, the Company considers several factors including, but not limited to the following: the extent and duration of the decline in value, the reasons for the decline (credit event, currency or interest rate related including spread widening), the Company’s inability or lack of intent to retain the investment for a period of time sufficient to recover the amortized cost basis and the performance of the security’s underlying collateral and projected future cash flows. In projecting future cash flows, the Company incorporates inputs from third-party sources and applies reasonable judgment in developing assumptions used to estimate the probability and timing of collecting all contractual cash flows.

The Company writes down all investments that are deemed to be other than temporarily impaired in the period the securities are deemed to be impaired. The Company records an OTTI to fair value for common stock, preferred stock, and bonds, except for LBASS, which are written down to the present value of cash flows expected to be collected, discounted at the security’s effective interest rate. The Company records an OTTI to fair value for any investment that the Company intends to sell or would be required to sell prior to recovery at a realized loss. The Company records OTTI in net realized capital gains (losses) less tax.

Mortgage loans on real estate are carried at their unpaid principal balance, net of deferred origination fees and impairment losses. Mortgage loans on real estate do not include accrued interest, which is included in investment income due and accrued. The Company generally recognizes interest income on its impaired loans upon receipt. As of December 31, 2022, commercial mortgage loans with a total recorded investment of $72 million were considered impaired and an impairment loss of $15 million was recognized for the year ended December 31, 2022 as the fair value of the underlying collateral on one of these loans was lower than its carrying amount. No impairment loss was recorded on the other loan since the fair value of the underlying collateral was higher than its carrying amount. As of December 31, 2021, commercial mortgage loans with a total recorded investment of $20 million were considered impaired. Since the fair value of the underlying collateral on these loans was greater than their carrying amount, no impairment loss was recorded. During the year ended December 31, 2020, a $14 million OTTI loss was recognized on impaired commercial mortgage loans with a total recorded investment of $135 million.

There was no allowance for credit losses associated with the impaired loans as of December 31, 2022, 2021 and 2020. The average recorded commercial loan that was considered impaired as of December 31, 2022, 2021 and 2020 was $46 million, $20 million and $141 million, respectively. The Company had zero, zero and $115 million of impaired commercial loans on nonaccrual status as of December 31, 2022, 2021 and 2020, respectively. No mortgage loans were derecognized as a result of foreclosure during the years ended December 31, 2022, 2021 and 2020.

12

Investment real estate is valued at the lower of depreciated cost or market, less related mortgage debt, cumulative write downs and valuation adjustments. Depreciation of investment real estate is computed using the straight line method over estimated useful lives, which range from 5 to 30 years. Real estate investments are evaluated for impairment based on the future estimated undiscounted cash flows expected to be received during the estimated holding period. When the future estimated undiscounted cash flows are less than the current carrying value of the property (gross cost less accumulated depreciation), the property is considered impaired and is written-down to its fair value through net realized capital gains (losses) less tax. The Company did not recognize any impairment loss on real estate investment properties for the year ended December 31, 2022. The Company recorded a loss of $22 million related to the disposal of real estate fixed assets from the Home Office and the sale of two real estate investment properties for the year ended December 31, 2021. The Company recorded impairment loss of $6 million on two of the real estate investment properties for the year ended December 31, 2020. The impairments were the result of two real estate investment properties classified as held-for-sale as of December 31, 2020 where the contracted sale price was lower than the book value. Fair value was determined based on expected sales proceeds. The Company held two real estate investment properties classified as held-for-sale with a carrying value of $11 million as of December 31, 2020.

Short-term investments are stated at amortized cost and approximate fair value. Short-term investments include, but are not limited to, bonds and commercial paper whose maturities at the time of purchase were greater than three months and less than or equal to one year. Cash and cash equivalents are stated at amortized cost and approximate fair value. Cash and cash equivalents include money market instruments, cash on deposit and highly liquid debt instruments with maturities of three months or less from purchase date.

The Company did not have any transfers of financial assets accounted for as secured borrowings, excluding repurchase and reverse repurchase agreements disclosed in Note 3.

Contract loans are carried at unpaid principal balances.

Other invested assets are generally carried at values based on the underlying audited equity of the investee as determined in accordance with U.S. GAAP with changes in value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. Other invested assets primarily consist of investments in joint ventures, hedge funds, and private equity funds. These investments include affiliated companies as well as those where the Company has minor ownership interests. An impairment occurs if it is probable that the Company will be unable to recover the carrying amount of the investment. The investment is written down to fair value as the new cost basis and the OTTI is recorded in net realized capital gains (losses) less tax.

The Company applies hedge accounting as prescribed by SSAP No. 86, Derivatives, by designating derivative instruments as either fair value or cash flow hedges on the inception date of the hedging relationship. At the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction. In this documentation, the Company specifically identifies the asset, liability, firm commitment, or forecasted transaction that has been designated as the hedged item and states how the hedging instrument is expected to hedge the risks related to the hedged item. The Company formally assesses and measures effectiveness of its hedging relationships both at the hedge inception date and on an ongoing basis in accordance with its risk management policy.

Derivative instruments used in hedging transactions that meet the criteria of a highly effective hedge are considered effective hedges and are reported in the financial statements in a manner consistent with the hedged asset or liability (amortized cost or fair value). Changes in the carrying value of derivatives that qualify for hedge accounting are recorded consistently with how the changes in the carrying value of the hedged asset or liability are recorded. For foreign currency swaps, changes in fair value attributable to changes in foreign exchange rates are reflected as adjustments to unassigned surplus as a change in net unrealized foreign exchange capital gain (loss) consistent with the hedged items.

To the extent the Company chooses not to designate a derivative as a hedge or the designated derivative no longer meets the criteria of an effective hedge, the derivative is accounted for at fair value with changes in fair value recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. When these derivative instruments are terminated, the gains and losses are reported as net realized capital gains (losses) less tax.

13

Carrying value is calculated based on the gross derivative asset or liability position. If the carrying value of the derivative is positive, the amount is recorded in derivatives. If the carrying value of the derivative is negative, the amount is recorded in other liabilities. The Company’s receivable for the return of cash collateral pledged is recorded in other invested assets. The Company’s obligation to return cash collateral received is recorded in other liabilities.

Gains and losses on terminated derivative instruments that are hedging bonds are subject to the Interest Maintenance Reserve (IMR). Gains and losses on terminated forward starting swap positions that are hedging anticipatory purchases of bonds are deferred to unearned investment income, included in other liabilities, if the effective date of the forward starting swap is beyond the current fiscal year. Once the effective date is within the current fiscal year, the gains and losses are transferred from unearned investment income to the IMR. Gains and losses on terminated derivative instruments that are hedging the surplus notes are recorded directly to surplus in other surplus adjustments, and amortized as an increase in net investment income over the life of the surplus notes utilizing the effective interest method.

Periodic net settlements on derivatives designated as hedges are recorded on an accrual basis consistent with the hedged items and for hedging derivatives designated under SSAP No. 108, Derivatives Hedging Variable Annuity Guarantees, in net investment income. Periodic net settlements on derivatives not designated as hedging are recorded on an accrual basis in net investment income.

The Company also applies hedge accounting as prescribed by SSAP No. 108. Designated derivatives are reported at fair value and fair value fluctuations attributable to the hedged risk that offsets the current period change in the designated portion of the VM-21 reserve liability are reported in realized capital gains (losses) less tax. Fair value fluctuations attributable to the hedged risk that do not offset the current period change in the designated portion of the VM-21 reserve liability are recognized as a deferred asset (admitted) reported in other assets or other liabilities. An amount equal to the net deferred asset or liability must be allocated from unassigned funds (surplus) and presented separately as special surplus adjustments. The deferred asset or liability is amortized on a straight-line basis over a period not to exceed 10 years into net realized capital gains (losses) less tax with a corresponding reallocation from special surplus adjustments to unassigned funds (surplus). See Note 5.

The asset valuation reserve (AVR) is computed in accordance with a prescribed formula and is designed to stabilize surplus against valuation and credit-related losses for certain investments. Changes to the AVR are reported as direct additions to, or deductions from, unassigned surplus. The IMR results in the deferral of after tax realized capital gains and losses attributable to interest rate fluctuations on bonds and other investments. These capital gains and losses are amortized into net investment income over the remaining life of the investment sold. The IMR of $56 million and $205 million is included in other liabilities as of December 31, 2022 and 2021, respectively.

Net investment income consists of interest, dividend, accretion income, net of amortization and investment expenses, partnership realized income, and periodic net settlements on derivatives. Interest income for bonds and redeemable preferred stock is recognized on an accrual basis. Dividend income for perpetual preferred stock and common stock is recognized as earned on the ex-dividend date. Amortization and accretion are determined by the effective interest method based on estimated principal repayments. Accrual of interest income is suspended, and any existing accrual balances are written off, for bonds that are in default or when it is probable the interest due and accrued is uncollectible. Prepayment penalties for bonds and prepayment premiums for mortgage loans are recorded as net investment income. Investment income from subsidiaries, controlled and affiliated (SCA) entities is described below. Interest expense on surplus notes is also recorded in net investment income.

The Company accrues interest income on impaired loans to the extent it is deemed collectible. If any interest income due and accrued is deemed uncollectible, interest accrual ceases and previously accrued amounts are written off. Accrued interest income more than 180 days past due deemed collectible on mortgage loans in default is nonadmitted. All other investment income due and accrued over 90 days past due is nonadmitted. The amount of investment income due and accrued excluded from surplus was $1 million and zero as of December 31, 2022 and 2021.

Net realized capital gains (losses) less tax are determined on the specific identification method and are presented net of Federal income taxes and transfers to the IMR.

14

INFORMATION CONCERNING PARENT, SUBSIDIARIES AND AFFILIATES

Included in common stocks and other invested assets are the Company’s SCA entities in which the Company, with its affiliates, holds a voting interest of 10% or more. The Company holds no investments in SCA entities that exceed 10% of admitted assets of the Company as of December 31, 2022 and 2021. Undistributed earnings and losses from SCA entities are recorded in unassigned surplus as a change in net unrealized capital gains (losses) less tax. Dividends and distributions are recognized in net investment income, with a corresponding reduction to unassigned surplus, when declared to the extent that they are not in excess of the undistributed accumulated earnings of the SCA entity. The Company did not recognize any impairment write-downs for its investments in SCA entities, during the years ended December 31, 2022, 2021 and 2020.

The Company carries its wholly owned State of Arizona domiciled life insurance common stock subsidiary, Pacific Life & Annuity Company (PL&A), based on PL&A’s underlying audited statutory surplus. PL&A’s carrying value was $474 million and $530 million as of December 31, 2022 and 2021, respectively. The Company carries its wholly owned State of Vermont domiciled special purpose financial insurance company subsidiaries, Pacific Alliance Reinsurance Company of Vermont (PAR Vermont) and Pacific Baleine Reinsurance Company (PBRC) based on their underlying audited statutory surplus. However, the audited statutory surplus of PAR Vermont and PBRC both include an admitted asset based on approved practices in Vermont. Under NAIC SAP, these assets are not considered admitted assets. Based on the nonadmission of these assets, the Company nonadmits the carrying values of PAR Vermont and PBRC for reporting. The nonadmitted carrying values of PAR Vermont and PBRC were $227 million and $187 million, respectively as of December 31, 2022. The nonadmitted carrying values of PAR Vermont and PBRC were $241 million and $121 million, respectively, as of December 31, 2021. During the years ended December 31, 2022, 2021 and 2020, the Company made capital contributions of zero, zero and $350 million, respectively, to PAR Vermont. During the years ended December 31, 2022, 2021 and 2020, the Company made capital contributions of zero, zero and $90 million, respectively, to PBRC.

The Company had investments in mutual funds managed by affiliates as of December 31, 2022 and 2021. Investments in affiliated mutual funds are carried at the underlying audited U.S. GAAP equity of the mutual funds which approximates fair value. Investments in affiliated bonds are generally valued at amortized cost except those with an NAIC designation of 6, which are reported at the lower of amortized cost or fair value. Investments in affiliated mutual funds are carried at fair value.

The Company generally carries its investments in joint ventures, partnerships and limited liability companies (LLCs) based on the underlying audited U.S. GAAP equity of the investee as determined in accordance with U.S. GAAP, except as otherwise disclosed below. These investments include affiliated companies as well as those where the Company has minority ownership interests. The carrying value of non-insurance SCA’s where an audit was not performed are nonadmitted.

Pacific Asset Holding LLC (PAH) is a wholly owned LLC that invests in commercial real estate properties and ventures and other private equity investments. PAH is accounted for under SSAP No. 97 8.b.iii, Investments in Subsidiary, Controlled and Affiliated Entities, which requires it to be carried based on its audited U.S. GAAP equity, without any statutory adjustments. As of December 31, 2022 and 2021, PAH’s carrying value was $3,575 million and $1,971 million, respectively.

Pacific Life Fund Advisors LLC (PLFA) is a non-life insurance LLC subsidiary 99% owned by the Company and 1% owned by PL&A. PLFA is the investment adviser for the Pacific Select Fund and the Pacific Funds Series Trust. The Pacific Select Fund is the investment vehicle provided to the Company’s variable life insurance policyholders and variable annuity contract owners. The Pacific Funds Series Trust is the investment vehicle for the Company’s mutual fund products and other funds. Distributions to the Company from PLFA, reflecting net revenues and expenses, net of taxes, are recorded by the Company as net investment income when declared to the extent they are not in excess of undistributed accumulated earnings. Distributions from PLFA to the Company included in net investment income for the years ended December 31, 2022, 2021 and 2020 were $99 million, $119 million and $102 million, respectively. Any undistributed net revenue and expense, net of tax, is recorded directly to surplus. PLFA is carried based on its underlying audited U.S. GAAP equity. As of December 31, 2022 and 2021, PLFA’s carrying value was $45 million and $47 million, respectively.

The Company carries Pacific Select Distributors, LLC (PSD), a wholly owned non-life insurance LLC broker-dealer subsidiary, based on its underlying audited U.S. GAAP equity and adjusted to a statutory basis of accounting. As of December 31, 2022 and 2021, PSD’s carrying value was $41 million and $45 million, respectively. PSD primarily serves as the distributor of registered investment-related products and services, principally variable life and annuity contracts issued by the Company and PL&A. In connection with PSD’s distribution of these variable life and annuity contracts for the Company and PL&A, the Company incurred commission expense of $497 million, $603 million and $449 million during the years ended December 31, 2022, 2021 and 2020, respectively. A service plan was adopted by the Pacific Select Fund whereby the Pacific Select Fund pays PSD, as distributor of the funds, a service fee in connection with services rendered or procured for shareholders of the fund or their variable contract

15

owners. These services may include, but are not limited to, payment of compensation to broker-dealers, including PSD itself, and other financial institutions and organizations, which assist in providing any of the services. From these service fees, PSD reimbursed the Company $74 million, $86 million and $76 million, included in commission expense, for paying trail commissions on its behalf for the years ended December 31, 2022, 2021 and 2020, respectively. PSD also offers limited retail broker-dealer services that include selling variable annuities issued by the Company to customers advised by third party fiduciaries such as trust companies and registered investment advisers. With respect to these sales, PSD acts as the broker-dealer of record for the initial sale, but does not receive commissions.

The Company also has the following noninsurance SCA investments that are classified as SSAP No. 97, Subsidiary, Affiliated and Controlled Entities (SSAP 97) 8b(iii) entities:

	December 31, 2022				December 31, 2021
Description: ⁽³⁾	Gross Amount		Nonadmitted Amount	Admitted Asset Amount	Gross Amount		Nonadmitted Amount	Admitted Asset Amount
	(In Millions)
Pacer Pacific Asset Floating	$38	⁽¹⁾		$38	$24	⁽²⁾		$24
PSF Hedge Equity Portfolio Class I	15	⁽¹⁾		15	16	⁽²⁾		16
Pacific Funds Ultra Short Income Class I	13	⁽¹⁾		13	13	⁽¹⁾		13
Pacific Funds Ultra Short Income Class D	13	⁽¹⁾		13	13	⁽¹⁾		13
PSF ESG Diversified Growth Class I	10	⁽¹⁾		10	13	⁽²⁾		13
Pacific Funds ESG Core Bond Fund Adv Class	11	⁽¹⁾		11	12	⁽¹⁾		12
Pacific Funds ESG Core Bond Fund Class I	11	⁽¹⁾		11	12	⁽¹⁾		12
PSF ESG Diversified Portfolio Class I	9	⁽¹⁾		9	11	⁽²⁾		11
Pacific Funds Small-Cap Value, Advisor	8	⁽¹⁾		8	9	⁽¹⁾		9
Pacific Optimization Moderate	1	⁽¹⁾		1	1	⁽¹⁾		1
Pacific Optimization Growth	1	⁽¹⁾		1	1	⁽¹⁾		1
Total	$130		$—	$130	$125		$—	$125

⁽¹⁾

Includes NAIC Sub-2 filing types.

⁽²⁾

Includes NAIC Sub-1 filing types.

⁽³⁾

The Company received responses from the NAIC for all required SCA filings and no SCA investment valuations were disallowed or required to be resubmitted.

The Company is the owner and beneficiary of life insurance policies captured under SSAP No. 21, Other Admitted Assets. As of December 31, 2022 and 2021, the cash surrender value was $171 million and $208 million, respectively. As of December 31, 2022, the investments in various fund structures of the underlying life insurance policies comprise investment characteristics of 98% of stocks and 2% of cash and short-term investments. As of December 31, 2021, the investments in various fund structures of the underlying life insurance policies comprise investment characteristics of 100% of stocks.

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The Company provides certain subsidiaries and affiliates with services that are routine in nature. Fees for these services are determined using cost allocations based on U.S. GAAP or a negotiated basis intended to reflect market prices. The Company provides investment and administrative services for certain subsidiaries and affiliates under administrative services agreements. For the years ended December 31, 2022, 2021 and 2020, the Company received $127 million, $114 million and $103 million, respectively, for services provided to, and paid $27 million, $10 million and $8 million, respectively, for services received from certain subsidiaries and affiliates, which are included in operating expenses. As of December 31, 2022 and 2021, the Company reported $0.3 million and $1 million, respectively, as amounts due from the parent company and the ultimate parent, Pacific LifeCorp and PMHC, and $74 million and $105 million, respectively, due from other affiliated companies. As of December 31, 2022 and 2021, the Company reported $1 million and ($3) million, respectively, as amount due to (from) other affiliated companies. It is the Company’s practice to settle these amounts no later than 90 days after the due date.

In September 2021, the Company entered into a one year agreement with Pacific Life Re International Limited (RIBM), a wholly owned indirect subsidiary of Pacific LifeCorp, to lend up to $100 million at a fixed rate of 0.7%. The amount loaned as of December 31, 2021, was $70 million. The agreement was terminated May 6, 2022. There were no loans outstanding as of December 31, 2022.

In June 2022, the Company entered into a promissory note with Pacific LifeCorp to borrow up to $200 million at an interest rate of 3.88%. There were no borrowings outstanding as of December 31, 2022. The promissory note matures on March 31, 2025.

The Company’s structured settlement transactions are typically designed such that an affiliated assignment company assumes settlement obligations from external parties in exchange for consideration. The affiliated assignment company then funds the assumed settlement obligations by purchasing annuity contracts from the Company. Consequently, substantially all of the Company’s structured settlement annuities are sold to an affiliated assignment company. Included in the liability for aggregate reserves are insurance contracts with the affiliated assignment company with contract values of $3.4 billion and $2.9 billion as of December 31, 2022 and 2021, respectively. Related to these contracts, the Company received $503 million, $197 million and $305 million of premiums and annuity considerations and paid $201 million, $183 million and $174 million of current and future policy benefits for the years ended December 31, 2022, 2021 and 2020, respectively. In addition, included in the liability for deposit-type contracts are insurance contracts with the affiliated assignment company of $3.9 billion and $3.3 billion as of December 31, 2022 and 2021, respectively.

AGGREGATE RESERVES AND LIABILITY FOR DEPOSIT-TYPE CONTRACTS

Life insurance reserves are valued using the net level premium method, the Commissioners’ Reserve Valuation Method (CRVM), or other modified reserve methods. Interest rate assumptions ranged from 2.0% to 6.0%. Reserves for individual variable annuities are held in accordance with VM-21. Reserves for individual fixed annuities are maintained using the Commissioners’ Annuity Reserve Valuation Method, with appropriate statutory interest and mortality assumptions computed on the basis of interest ranging from 1.0% to 11.3%. Group annuity reserves are valued using the CRVM with statutory interest and mortality assumptions computed on the basis of interest ranging from 1.0% to 11.3%.

The Company establishes loss liabilities for claims that have been incurred before the valuation date, but have not yet been paid. An expense liability is established associated with paying those claims.

The Company waives deduction of deferred fractional premium upon death of insured. The Company does not return any portion of the final premium for periods beyond the date of death. Continuous or modal premium assumptions are used for all reserves. All reserves are equal to the greater of the computed reserve and surrender value or, on certain products, a higher alternative comparison value.

Payments received on deposit-type contracts, which do not incorporate any mortality or morbidity risk, are recorded directly to the liability for deposit-type contracts. Interest credited to deposit-type contracts is recorded as an expense in the summary of operations when earned under the terms of the contract. Payments to contract holders are recorded as current and future policy benefits expense to the extent that such payments differ from the recorded liability. Interest rates credited ranged primarily from 0.3% to 8.8%.

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TRANSFERS TO SEPARATE ACCOUNTS DUE OR ACCRUED, NET

Transfers to separate accounts due or accrued, net consist primarily of amounts accrued from the separate account for expense allowances recognized in reserves. These amounts represent the excess of separate account contract values over statutory reserves held in the separate account.

REVENUES, BENEFITS AND EXPENSES

Life insurance premiums are recognized as income when due from the policyholder under the terms of the insurance contract. Premiums for flexible premium products are recognized when received from the policyholder. Annuity considerations are recognized as premiums when received.

Expenses incurred in connection with acquiring new insurance business, including acquisition costs such as sales commissions, are charged to operations as incurred.

PARTICIPATING POLICIES

For the years ended December 31, 2022, 2021 and 2020, premiums under ordinary insurance, group insurance and group annuity participating policies were $7 million or 0.2%, $7 million or 0.2% and $8 million or 0.2%, respectively, of total ordinary insurance, group insurance and group annuity premiums earned. The Company accounts for its policyholder dividends based upon dividend formulas approved by the Company’s Board of Directors. During the years ended December 31, 2022, 2021 and 2020, the Company paid dividends in the amount of $7 million, $8 million and $8 million to policyholders and did not allocate any additional income to such policyholders.

FEDERAL INCOME TAXES

The Company is taxed as a life insurance company for income tax purposes and its operations are included in the consolidated Federal income tax return of PMHC. In addition to the Company, included in PMHC’s consolidated return are the following entities: Pacific LifeCorp, PL&A, PAR Vermont, PBRC, PLFA, and RGBM.

The method of tax allocation between companies is subject to written tax sharing agreements, approved by the Company’s Board of Directors. Allocation is based upon separate return calculations with current credit for net losses to the extent utilized in the consolidated return. If the consolidated return has tax losses, intercompany balances are generally settled as refunds are received. If the consolidated return has a tax payable, the intercompany balances are generally settled as paid.

SEPARATE ACCOUNTS

Separate accounts primarily include variable life and annuity contracts, as well as other single separate accounts. The Company’s separate accounts without guarantees consist of the variable annuities and variable life businesses where the assets of these accounts are carried at fair value and represent legally segregated contract holder funds. A separate account liability is recorded at fair value at an amount equal to the separate account asset. The investment results of separate account assets typically pass through to the contract holders so that the Company generally bears no investment risk on these assets. Amounts charged to the separate account for mortality, surrender and expense charges are included in separate account fees in other income.

The Company has separate accounts with guarantees comprised of the group annuities business where the general account guarantees annuity payments if the separate accounts is unable to do so. Assets of the group annuities business are carried at amortized cost and the Company establishes an AVR as required. The Company contractually guarantees either a minimum return or account value on these separate account products, for which liabilities have been recorded in aggregate reserves.

Separate account assets are primarily invested in mutual funds, but are also invested in bonds, mortgage loans, and hedge funds.

The variable annuities, variable universal life, and group annuities are classified as separate account products under statutory accounting principles. Variable annuities and variable universal life products are also classified as separate account products under U.S. GAAP, however, group annuities are classified as general account products under U.S. GAAP due to the investment risk being retained by the general account.

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RISK-BASED CAPITAL

Risk-based capital is a method developed by the NAIC to measure the minimum amount of capital appropriate for an insurance company to support its overall business operations in consideration of its size and risk profile. The formulas for determining the amount of risk-based capital specify various weighting factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Additionally, certain risks are required to be measured using actuarial cash flow modeling techniques, subject to formulaic minimums. The adequacy of a company’s actual capital is measured by the risk-based capital results, as determined by the formulas and actuarial models. Companies below minimum risk-based capital requirements are classified within certain levels, each of which requires specified corrective action. As of December 31, 2022 and 2021, the Company exceeded the minimum risk-based capital requirements.

2.

COMPARISON OF NAIC SAP TO U.S. GAAP

The objectives of U.S. GAAP reporting differ from the objectives of NAIC SAP reporting. U.S. GAAP stresses measurement of earnings of a business from period to period, while NAIC SAP stresses measurement of ability to pay claims in the future.

The Company prepares its financial statements - statutory basis in accordance with statutory accounting practices prescribed or permitted by the NE DOI, which is a comprehensive basis of accounting other than U.S. GAAP. NAIC SAP and accounting practices prescribed or permitted by the NE DOI (Note 1) primarily differ from U.S. GAAP by charging policy acquisition costs to expense as incurred, recognizing certain policy fees as revenue when billed, establishing future policy benefit liabilities using different actuarial assumptions and methods, reporting surplus notes as surplus instead of debt, as well as reporting investments and certain assets and accounting for deferred income taxes on a different basis.

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3.

INVESTMENTS

BONDS, SHORT-TERM INVESTMENTS AND CASH EQUIVALENTS

The book/adjusted carrying value, fair value and net unrealized gains (losses) of bonds, short-term investments and cash equivalents are shown below. Short-term investments and cash equivalents as of December 31, 2022 and 2021 were $698 million and $395 million, respectively. See Note 4 for information on the Company’s fair value measurements.

	Book/Adjusted Carrying Value	Fair Value	Net Unrealized Losses
		(In Millions)
December 31, 2022:
U.S. Government	$1,038	$985	($53)
All other governments	638	572	(66)
U.S. states, territories and possessions	102	84	(18)
U.S. political subdivisions of states, territories and possessions	213	203	(10)
U.S. special revenue and special assessment obligations	2,039	1,799	(240)
Industrial and miscellaneous	54,274	48,098	(6,176)
Bank loans	1,774	1,735	(39)
Hybrid securities	23	21	(2)
LBASS:
Residential mortgage-backed securities (RMBS)	1,400	1,228	(172)
Commercial mortgage-backed securities (CMBS)	3,529	3,132	(397)
Industrial, miscellaneous and other	9,513	8,805	(708)
Total	$74,543	$66,662	($7,881)

	Book/Adjusted Carrying Value	Fair Value	Net Unrealized Gains (Losses)
		(In Millions)
December 31, 2021:
U.S. Government	$1,585	$1,714	$129
All other governments	659	706	47
U.S. states, territories and possessions	86	92	6
U.S. political subdivisions of states, territories and possessions	164	188	24
U.S. special revenue and special assessment obligations	1,374	1,518	144
Industrial and miscellaneous	52,454	57,013	4,559
Bank loans	1,540	1,539	(1)
Hybrid securities	30	30	—
LBASS:
RMBS	1,923	1,970	47
CMBS	2,452	2,482	30
Industrial, miscellaneous and other	5,474	5,603	129
Total	$67,741	$72,855	$5,114

20

The book/adjusted carrying value and fair value of bonds, short-term investments and cash equivalents as of December 31, 2022, by contractual repayment date of principal, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Book/Adjusted Carrying Value	Fair Value
	(In Millions)
Due in one year or less	$3,026	$2,989
Due after one year through five years	17,777	16,921
Due after five years through ten years	19,132	16,787
Due after ten years	20,166	16,800
	60,101	53,497
LBASS	14,442	13,165
Total	$74,543	$66,662

21

The following tables present the fair value and gross unrealized losses for bonds where the fair value had declined and remained continuously below the amortized cost adjusted for OTTI for less than twelve months and for twelve months or greater:

	Less than 12 Months		12 Months or Greater		Total
	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses	Fair Value	Gross Unrealized Losses
			(In Millions)
December 31, 2022:
U.S. Government	$626	$32	$40	$23	$666	$55
All other governments	435	45	73	23	508	68
U.S. states, territories and possessions	74	14	10	4	84	18
U.S. political subdivisions	150	13			150	13
U.S. special revenue and special assessment obligations	1,305	217	129	43	1,434	260
Industrial and miscellaneous	39,955	4,847	5,001	1,460	44,956	6,307
Bank loans	1,071	23	255	19	1,326	42
Hybrid securities			16	4	16	4
LBASS:
RMBS	380	29	659	174	1,039	203
CMBS	1,775	160	829	240	2,604	400
Industrial, miscellaneous and other	5,324	411	1,907	324	7,231	735
Total	$51,095	$5,791	$8,919	$2,314	$60,014	$8,105

December 31, 2021:
U.S. Government	$955	$6			$955	$6
All other governments	112	5	$5	$1	117	6
U.S. special revenue and special assessment obligations	132	2	38	1	170	3
Industrial and miscellaneous	6,455	143	592	32	7,047	175
Bank loans	438	3	157	8	595	11
Hybrid securities			5	1	5	1
LBASS:
RMBS	883	16	193	5	1,076	21
CMBS	682	14	511	38	1,193	52
Industrial, miscellaneous and other	2,318	26	171	5	2,489	31
Total	$11,975	$215	$1,672	$91	$13,647	$306

The Company has evaluated investments with gross unrealized losses and determined that the unrealized losses are temporary. The Company does not have the intent to sell these securities and has the intent and ability to retain these investments for a period of time sufficient to recover the amortized cost basis.

22

The table below summarizes the OTTI by security type:

	Years Ended December 31,
	2022	2021	2020
	(In Millions)
Bonds:
Industrial and miscellaneous	$13	$36	$80
Bank loans	1
LBASS	2	34	7
Mortgage loans	15		14
Real estate			6
Other invested assets	6	11	10
Total OTTI	$37	$81	$117

No OTTIs were recognized on LBASS due to intent to sell or inability or lack of intent to retain the investment in the security for a period of time sufficient to recover the amortized cost basis during the year ended December 31, 2022.

The following table presents all LBASS with an OTTI recognized during the year ended December 31, 2022, whereby the present value of cash flows expected to be collected is less than the amortized cost basis of the securities:

Cusip	Amortized Cost Before Current Period OTTI	Present Value of Projected Cash Flows	Recognized OTTI	Amortized Cost after OTTI	Fair Value at time of OTTI	Date of Financial Statement When Reported
			(In Millions)
10623*AA4	$9	$8	$1	$8	$8	3/31/2022
10623*AA4	7	6	1	6	6	9/30/2022
Total			$2

23

The assignment of an NAIC 5GI designation to a debt security occurs when the necessary documentation for a full credit analysis does not exist but the security is current on all contractual payments and the Company expects the security to make full payment of all contractual principal and interest. The following table presents the number of investments, the book/adjusted carrying value, and the fair value for bonds with an NAIC 5GI designation:

	December 31, 2022			December 31, 2021
	Number	Book/Adjusted Carrying Value	Fair Value	Number	Book/Adjusted Carrying Value	Fair Value
	(In Millions)				(In Millions)
U.S. special revenue and special assessment obligations				2	$13	$13
Industrial and miscellaneous				1	28	29
Bank loans	1	$14	$11	1	15	14
LBASS	3	7	6	3	6	8
Total	4	$21	$17	7	$62	$64

Proceeds, gross gains, and gross losses recognized on sales of bonds were $4.3 billion, $10 million, and $190 million, respectively, for the year ended December 31, 2022. Proceeds, gross gains, and gross losses recognized on sales of bonds were $2.4 billion, $28 million, and $11 million, respectively, for the year ended December 31, 2021. Proceeds, gross gains, and gross losses recognized on sales of bonds were $1.7 billion, $56 million, and $14 million, respectively, for the year ended December 31, 2020.

Bonds with a book/adjusted carrying value of $6 million as of December 31, 2022 and 2021, were held as restricted assets on deposit with government agencies as required by law in various jurisdictions in which the Company conducts business.

The Company received prepayment penalties and acceleration of fees of $28 million, $117 million and $70 million from 192, 249 and 173 securities for the years ended December 31, 2022, 2021 and 2020, respectively.

SECURITIES LENDING

The Company participates in a securities lending program administered by an authorized financial institution whereby certain investment securities are loaned to third parties for the purpose of enhancing income on securities held through reinvestment of cash collateral received upon lending. With respect to securities loaned, the Company requires initial cash collateral equal to a minimum of 102% of the fair value of domestic securities loaned. The Company monitors the fair value of securities loaned with additional collateral obtained as necessary. This collateral is not restricted, and there is no collateral that extends beyond one year from December 31, 2022. The borrower of the loaned securities is permitted to sell or repledge those securities. Upon default of the borrower, the Company has the right to purchase replacement securities using the cash collateral held. Similarly, upon default of the Company, the borrower has the right to sell the loaned securities and apply the proceeds from such sale to the Company’s obligation to return the cash collateral held. As of December 31, 2022 and 2021, there were no separate accounts securities lending arrangements.

For securities lending transactions, the carrying value of securities classified as bonds and on loan as of December 31, 2022 and 2021 was $4.2 billion and $3.0 billion, respectively, with fair value of $3.7 billion and $3.2 billion, respectively. The Company recorded cash collateral received of $3.8 billion and $3.3 billion as of December 31, 2022 and 2021, respectively, and established a corresponding liability for the same amount, which is included in other liabilities. As of December 31, 2022 and 2021, the Company has not sold or repledged collateral received from securities lending agreements. The Company may occasionally utilize amounts from the cash collateral for short-term liquidity for general corporate purposes. As of December 31, 2022 and 2021, $1.0 billion and zero, respectively, were utilized for general corporate purposes.

24

The aggregate amount of collateral reinvested broken down by the maturity date of the invested asset is as follows (In Millions):

	December 31, 2022		December 31, 2021
	Amortized Cost	Fair Value	Amortized Cost	Fair Value
Overnight and continuous
30 days or less	$928	$928	$727	$727
31-60 days	300	300	2,050	2,050
61 to 90 days	1,600	1,600	550	550
Total collateral reinvested	$2,828	$2,828	$3,327	$3,327

The Company invests the cash collateral received from its securities lending arrangements primarily into short-term investments.

To manage the mismatch of maturity dates between the security lending transactions and the related reinvestment of the collateral received, the Company reinvests in assets with a maturity date of 90 days or less.

REPURCHASE AGREEMENTS

In 2022, the Company entered into repurchase agreements with unaffiliated financial institutions. Under these agreements, the Company sells bonds and receives cash in an amount equal to at least 102% of the estimated fair value of the bonds sold at the inception of the transaction, with a simultaneous agreement to repurchase such bonds at a future date or on demand in an amount equal to the cash initially received plus interest. The Company monitors the ratio of the cash-held to the estimated fair value of the bonds sold throughout the duration of the transaction and additional cash or securities are obtained as necessary. Bonds sold under such transactions may be sold or re-pledged by the transferee. Income and expense associated with repurchase agreements are recorded in net investment income. The repurchase agreements are tri-party trades. The maximum amount outstanding under repurchase agreements during the year ended December 31, 2022 was $10 million, which had a maturity time frame of 2 days to 1 week. There are no amounts outstanding under these agreements as of December 31, 2022.

The maximum fair value of securities sold outstanding under secured borrowing agreements during the year ended December 31, 2022 was $10 million. There were no outstanding securities sold as of December 31, 2022.

The maximum amount of cash collateral received outstanding under secured borrowing agreements during the year ended December 31, 2022 was $10 million. There was no outstanding cash collateral received outstanding as of December 31, 2022. There was no outstanding securities collateral liability outstanding as of December 31, 2022.

REVERSE REPURCHASE AGREEMENTS

The Company invests cash collateral received into reverse repurchase agreements as part of its securities lending program. The Company requires that all reverse repurchase agreements must be collateralized by United States (U.S.) Treasury Securities, U.S. Agency Securities, U.S. Corporate bonds and/or U.S. Equities with a minimum margin of 102%. For the securities lending program, reverse repurchase agreements had a maximum maturity of 90 days and are indemnified by the Company’s securities lending agent against counterparty default. When counterparty default and price movements of the collateral received present the primary risks for repurchase agreements, the Company mitigates such risks by mandating short maturities, applying proper haircuts and monitoring fair values daily.

In 2022, the Company entered into a reverse repurchase transaction commitment of $250 million with an unaffiliated financial institution. Under this agreement, the Company purchases U.S. Treasury Securities and loans cash, with a simultaneous agreement to resell such securities at a future date or on demand in an amount equal to the cash initially loaned plus interest. There were no amounts outstanding under this agreement as of December 31, 2022.

The reverse repurchase agreements used are tri-party trades.

25

The following tables present the maximum amount and ending value during and as of the periods presented of the allocation of reverse repurchase agreements by maturity (In Millions):

	Maximum Amount				Ending Balance
December 31, 2022	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Overnight and continuous	$200	$250	$650	$200	$200		$150	$200
30 days or less	1,175	1,100	1,950	1,450	400	$250	200	200
31-90 days >90 days	2,925	3,175	2,875	4,250	2,925	2,675	2,125	1,900

	Maximum Amount				Ending Balance
December 31, 2021	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Overnight and continuous	$1,125	$1,025	$925	$450	$1,100	$925	$400
30 days or less	1,000	1,050	1,425	1,425	300	200	725	$575
31-90 days	250	1,575	2,250	2,900	1,175	1,575	1,850	2,600
>90 days	250	250

The Company has not sold or acquired any securities that resulted in default.

The following table presents, by NAIC designation, the fair value of bonds acquired by the Company under reverse repurchase- secured borrowings as of December 31, 2022 and 2021 (In Millions):

	December 31,
	2022	2021
NAIC 1	$947	$1,039
NAIC 2	702	946
NAIC 3	242	983
NAIC 4	551	383
Total	$2,442	$3,351

The maximum and ending fair value of the bonds acquired under reverse repurchase-secured borrowings during the years 2022 and 2021 is as follows (In Millions). None of the bonds acquired were nonadmitted.

December 31, 2022	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$3,800	$3,938	$4,836	$2,662
Ending Balance	3,750	3,117	2,617	2,442

December 31, 2021	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$2,706	$2,843	$5,869	$4,121
Ending Balance	2,706	2,843	3,119	3,351

26

The following tables present the aggregate allocation of collateral pledged of repurchase agreements by remaining contractual maturity (In Millions):

	December 31, 2022		December 31, 2021
	Amortized Cost	Fair Value	Amortized Cost	Fair Value
Overnight and continuous 30 days or less	$400	$400	$575	$575
31-90 days	1,900	1,900	2,600	2,600
>90 days	—	—	—	—

The maximum amounts and ending balances of the cash collateral provided and recognized receivable for the return of collateral for reverse repurchase-secured borrowings during the years 2022 and 2021 is as follows (In Millions):

December 31, 2022	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$3,850	$3,675	$3,675	$4,950
Ending Balance	3,525	2,925	2,475	2,300

December 31, 2021	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$2,600	$2,700	$2,975	$3,725
Ending Balance	2,575	2,700	2,975	3,175

The maximum amounts and ending balances of the recognized liability to return collateral for reverse repurchase-secured borrowing securities sold/acquired with cash collateral during the years 2022 and 2021 is as follows (In Millions):

December 31, 2022	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$3,850	$3,675	$3,675	$4,950
Ending Balance	3,525	2,925	2,475	2,300

December 31, 2021	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Maximum Amount	$2,600	$2,700	$2,975	$3,725
Ending Balance	2,575	2,700	2,975	3,175

WORKING CAPITAL FINANCE INVESTMENTS

The tables below present the aggregate book/adjusted carrying value of working capital finance investments (WCFI) by designation as of December 31, 2022 and 2021.

	Gross Asset	Nonadmitted Asset	Net Admitted Asset
December 31, 2022:		(In Millions)
WCFI Designation 1	$764		$764
WCFI Designation 2	544		544
Total	$1,308	—	$1,308

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	Gross Asset	Nonadmitted Asset	Net Admitted Asset
December 31, 2021:		(In Millions)
WCFI Designation 1	$310		$310
WCFI Designation 2	134		134
Total	$444	—	$444

The table below presents the aggregate maturity distribution on the underlying working capital finance programs. The Company did not have any events of default on working capital finance programs.


	Book/Adjusted Carrying Value
	December 31,
	2022	2021
	(In Millions)
Up to 180 days	$1,256	$422
181 to 365 days	52	22
Total	$1,308	$444

DEBT RESTRUCTURING

As of December 31, 2022 and 2021, the Company had investments in restructured bonds and mortgage loans of $19 million and $40 million, respectively. The realized capital losses related to these bonds and mortgage loans were zero, $31 million and zero for the years ended December 31, 2022, 2021 and 2020, respectively.

MORTGAGE LOANS

The maximum and minimum lending rates for newly issued mortgage loans, by category, are as follows:

	Maximum	Minimum
Year Ended December 31, 2022: Farm	6.10%	3.15%
Construction and land development	5.37%	5.37%
Commercial	7.10%	2.05%

Year Ended December 31, 2021:
Farm	4.45%	3.10%
Construction and land development	4.25%	4.07%
Commercial	4.39%	2.35%

The maximum percentage of any one loan to the value of security at the time of the loan, exclusive of insured or guaranteed or purchase money mortgages was 100%.

28

The age analysis of mortgage loans by type and identification of mortgage loans in which the insurer is a participant or co-lender in a mortgage loan agreement is as follows:

	Farm	Residential	Commercial	Mezzanine	Total
December 31, 2022:			(In Millions)
Current	$980	$236	$17,690	$107	$19,013
30-59 days past due					—
60-89 days past due					—
90-179 days past due	2				2
180+ days past due	13				13
Total	$995	$236	$17,690	$107	$19,028

Participant or co-lender in a mortgage loan agreement:
Recorded investment ⁽¹⁾	$20		$1,110	$107	$1,237

	Farm	Residential	Commercial	Mezzanine	Total
December 31, 2021:			(In Millions)
Current	$930	$239	$14,644	$107	$15,920
30-59 days past due	2				2
60-89 days past due	1				1
90+ days past due					—
Total	$933	$239	$14,644	$107	$15,923

Participant or co-lender in a mortgage loan agreement:
Recorded investment ^{(1) (2)}			$1,080	$107	$1,187

⁽¹⁾

Excluded from the Commercial amounts are mortgage loan participations where the sole participants are the Company and PL&A. The total amounts were $2,862 million and $2,823 million as of December 31, 2022 and 2021, respectively.

⁽²⁾

Amounts were updated subsequent to the issuance of the Annual Statement.

29

The Company’s mortgage loans finance various types of properties primarily throughout the U.S. and Canada. The geographic distributions of the mortgage loans book/adjusted carrying value were as follows:

	December 31, 2022		December 31, 2021
	(In Millions)		(In Millions)
California	$4,108	California	$3,292
Illinois	1,444	Washington	1,363
Texas	1,351	Texas	1,343
Massachusetts	1,243	Illinois	1,252
Washington	1,136	New York	907
New York	969	Massachusetts	813
Georgia	869	New Jersey	723
District of Columbia	794	Virginia	708
Virginia	774	Florida	704
New Jersey	719	Arizona	613
All other	5,621	All other	4,205
Total	$19,028	Total	$15,923

As of December 31, 2022 and 2021, the largest carrying amount of one single commercial loan in California, the state with the highest geographical distribution, was $440 million or 2% and $404 million or 3% of the mortgage loan carrying value, respectively. This loan was secured by apartment buildings.

As of December 31, 2022, the largest total carrying value of multiple commercial loans with a single sponsor, a related party to the Company, was $622 million and 3% of the mortgage loan carrying value. As of December 31, 2022, these loans were located in various states and were mainly secured by apartment buildings. As of December 31, 2021, the largest total carrying value of multiple commercial loans with a single sponsor was $564 million and 4% of the mortgage loan carrying value. As of December 31, 2021, these loans were located in Arizona and California and were secured by retail.

The Company had mortgage loans of $13 million with accrued interest more than 180 days past due as of December 31, 2022 The Company did not have mortgage loans with accrued interest more than 180 days past due as of December 31, 2021.

For the years ended December 31, 2022, 2021 and 2020, the Company recognized in net investment income prepayment income of $57 million, $30 million and $41 million, respectively, from early pay off mortgage loans.

The Company reviews the performance and credit quality of the mortgage loan portfolio on an on-going basis, including loan payment and collateral performance. Collateral performance includes a review of the most recent collateral inspection reports and financial statements. Analysts track each loan’s debt service coverage ratio (DCR) and loan-to-value ratio (LTV). The DCR compares the collateral’s net operating income to its debt service payments. DCRs less than 1.0 times indicate that the collateral operations do not generate enough income to cover the loan’s current debt payments. A larger DCR indicates a greater excess of net operating income over the debt service. The LTV compares the amount of the loan to the fair value of the collateral and is commonly expressed as a percentage. LTVs greater than 100% indicate that the loan amount exceeds the collateral value. A smaller LTV percentage indicates a greater excess of collateral value over the loan amount.

The loan review process results in each loan being placed into a No Credit Concern category or one of three levels: Level 1 Minimal Credit Concern, Level 2 Moderate Credit Concern or Level 3 Significant Credit Concern. Loans in the No Credit Concern category are performing and no issues are noted. The collateral exhibits a strong DCR and LTV and there are no near term maturity concerns. The loan credit profile and borrower sponsorship have not experienced any significant changes and remain strong. For construction loans, projects are progressing as planned with no significant cost overruns or delays.

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Level 1 loans are experiencing negative market pressure and outlook due to economic factors. Financial covenants may have been triggered due to declines in performance. There may be disputes between the borrower and contractors. Credit profile and/or borrower sponsorship remain stable but require monitoring. Near term (6 months or less) maturity requires monitoring due to negative trends. No impairment loss concerns exist under current conditions, however some possibility of loss may exist under stressed scenarios or changes in sponsorship financial strength. This includes troubled debt restructures (TDR) performing as agreed for more than one year.

Level 2 loans are experiencing significant or prolonged negative market pressure and uncertain outlook due to economic factors; financial covenants may have been triggered due to declines in performance and/or the borrower may have requested covenant relief. There may be disputes between the borrower and contractors. Loan credit profile, borrower sponsorship and/or collateral value may have declined or given cause for concern. Near term maturity (12 months or less) coupled with negative market conditions, property performance and value and/or borrower stability result in increased refinance risk. Likelihood for TDR, impairment and loss is increased. This includes all loans performing as agreed during the first year of a TDR unless assigned to Level 3.

Level 3 loans are experiencing prolonged and/or severe negative market trends, declines in collateral performance and value, and/ or borrower financial difficulties exist. Borrower may have asked for modification of loan terms. Without additional capital infusion and/or acceptable modification to existing loan terms, default is likely and foreclosure the probable alternative. Impairment loss is possible depending on current fair market value of the collateral. This category includes loans in default and previously impaired restructured loans that underperform despite modified terms and/or for which future loss is probable.

Loans classified as Level 1 through Level 3 are placed on a watch list and monitored monthly, subject to the terms of the loan agreement. Loans that have been identified as Level 3 are evaluated to determine if the loan is impaired. A loan is impaired if it is probable that amounts due according to the contractual terms of the loan agreement will not be collected.

The Company was working with borrowers who are experiencing financial difficulty as a direct result of the novel coronavirus COVID-19 pandemic (COVID-19). When necessary, the Company provided loan modifications to assist borrowers with their circumstances. These loans are accruing interest and are classified as current when performing under the terms of the modified loan agreement. On April 7, 2020, a group of banking agencies issued an Interagency Statement that offers practical expedients for evaluating whether loan modifications that occur in response to COVID-19 are TDR consistent with the Coronavirus Aid, Relief and Economic Security Act (the CARES Act). The Consolidated Appropriations Act, signed into law on December 27, 2020 extended the relief offered in the CARES Act through January 1, 2022 and clarified that insurance companies were covered under the CARES Act. The Company’s loan modifications fell within the guidance of either the April 7, 2020 Interagency Statement or the CARES Act, both as adopted by the NAIC under Interpretation of the Statutory Accounting Principles Working Group (INT) 20-03, and do not qualify as TDRs.

Prior to January 1, 2022, the Company provided modifications in the form of principal and/or interest payment relief and extension of maturity dates to mortgage loans. As of December 31, 2022, the mortgage loans that are still in their modification period had a total book value of $791 million. These loans do not qualify as TDRs.

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The following tables set forth mortgage loan credit levels as of December 31, 2022 and 2021 ($ In Millions):

	December 31, 2022
	No Credit Concern		Level 1 Minimal Credit Concern		Level 2 Moderate Credit Concern		Level 3 Significant Credit Concern		Total
Type	Carrying Amount	Weighted Average DCR	Carrying Amount	Weighted Average DCR	Carrying Amount	Weighted Average DCR	Carrying Amount	Weighted Average DCR	Carrying Amount	Weighted Average DCR
Agricultural	$995	2.23							$995	2.23
Apartment	4,969	1.72							4,969	1.72
Golf course	41	3.64	$4	0.80					45	3.37
Industrial	828	2.24							828	2.24
Lodging	1,064	3.19	77	1.60	$160	1.12			1,301	2.85
Mobile home park	239	3.27							239	3.27
Office	4,199	2.08			60	2.98	$72	1.08	4,331	2.07
Residential	41	2.17							41	2.17
Retail	2,335	1.99	225	1.55			512	0.83	3,072	1.76
Construction ⁽¹⁾	3,050		42		115				3,207
Total	$17,761	2.07	$348	1.55	$335	1.63	$584	0.86	$19,028	2.01

	December 31, 2021
	No Credit Concern		Level 1 Minimal Credit Concern		Level 2 Moderate Credit Concern		Level 3 Significant Credit Concern		Total
	Carrying	Weighted Average	Carrying	Weighted Average	Carrying	Weighted Average	Carrying	Weighted Average	Carrying	Weighted Average
Type	Amount	DCR	Amount	DCR	Amount	DCR	Amount	DCR	Amount	DCR
Agricultural	$933	2.25							$933	2.25
Apartment	2,707	1.86							2,707	1.86
Golf course	52	2.40	$22	0.90			$18	0.82	92	1.73
Industrial	751	2.37							751	2.37
Lodging	799	2.30	87	0.47	$466	0.21			1,352	1.46
Mobile home park	179	3.62							179	3.62
Office	3,512	2.09			47	2.76	20	0.75	3,579	2.09
Residential	43	2.49							43	2.49
Retail	1,839	1.87	225	1.32			514	0.72	2,578	1.59
Construction ⁽¹⁾	3,299		250		160				3,709
Total	$14,114	2.07	$584	1.07	$673	0.45	$552	0.72	$15,923	1.92

⁽¹⁾

Performance and credit quality does not consider DCRs for Residential whole and Construction loans. These loans are reviewed based on LTV, loan payment performance, and for Construction loans, the construction progress and related costs for the underlying collateral project.

JOINT VENTURES, PARTNERSHIPS AND LLCs

The Company does not have investments in joint ventures, partnerships and limited liability companies that exceed 10% of admitted assets of the Company as of December 31, 2022 and 2021. For impaired investments in joint ventures, partnerships and limited liability companies, the Company recorded write downs of $5 million, $11 million and $10 million on 4, 6 and 5 investments during the years ended December 31, 2022, 2021 and 2020, respectively, based upon lower estimated future cash flows.

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4.	FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s financial assets and liabilities that are carried at fair value have been classified, for disclosure purposes, based on a hierarchy defined by SSAP No. 100R, Fair Value. The determination of fair value requires the use of observable market data when available. The hierarchy consists of the following three levels that are prioritized based on observable and unobservable inputs.

Level 1

Unadjusted quoted prices for identical instruments in active markets. Level 1 financial instruments include securities that are traded in an active exchange market.

Level 2

Observable inputs other than Level 1 prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in inactive markets, and model-derived valuations for which all significant inputs are observable market data.

Level 3

Valuations derived from valuation techniques in which one or more significant inputs are not market observable.

33

The following tables present, by fair value hierarchy level, the Company’s financial instruments that are carried at fair value or net asset value (NAV) as of December 31, 2022 and 2021:

	Level 1	Level 2	Level 3	NAV	Total
December 31, 2022:			(In Millions)
Assets:
Bonds:
Issuer obligations			$14		$14
LBASS			4		4
Total bonds	—	—	18	—	18

Preferred stocks:
Industrial and miscellaneous			4		4
Total preferred stocks	—	—	4	—	4

Common stocks:
Industrial and miscellaneous			65		65
Affiliates ⁽¹⁾	$130				130
Total common stocks	130	—	65	—	195

Derivatives:
Foreign currency and interest rate swaps		$459			459
Equity derivatives	52		880		932
Total derivatives	52	459	880	—	1,391

Other invested assets			116		116

Separate account assets ⁽²⁾	53,895			$849	54,744
Total	$54,077	$459	$1,083	$849	$56,468

Liabilities:
Derivatives:
Foreign currency and interest rate swaps		$452			$452
Equity derivatives			$3		3
Total	—	$452	$3	—	$455

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	Level 1	Level 2	Level 3	NAV	Total
December 31, 2021:			(In Millions)
Assets:
Bonds:
Issuer obligations		$24			$24
LBASS			$103		103
Total bonds	—	24	103	—	127

Preferred stocks:
Industrial and miscellaneous		1	1		2
Total preferred stocks	—	1	1	—	2

Common stocks:
Industrial and miscellaneous	$16		22		38
Affiliates ⁽¹⁾	127				127
Total common stocks	143	—	22	—	165

Derivatives:
Foreign currency and interest rate swaps		208			208
Equity derivatives	82		1,916		1,998
Total derivatives	82	208	1,916	—	2,206

Separate account assets ⁽²⁾	67,331	1		$644	67,976
Total	$67,556	$234	$2,042	$644	$70,476

Liabilities:
Derivatives:
Foreign currency and interest rate swaps		$213			$213
Equity derivatives			$10		10
Total	—	$213	$10	—	$223

⁽¹⁾

Consists of mutual funds managed by affiliated entities.

⁽²⁾

Consists of separate account assets that are primarily invested in mutual funds and hedge funds. Investment performance related to separate account assets is offset by corresponding amounts credited to contract holders whose liability is recorded in the separate account liabilities. Separate account liabilities are measured to equal the fair value of separate account assets.

FAIR VALUE MEASUREMENT

The following describes the valuation methodologies used by the Company to measure various types of financial instruments at fair value.

BONDS, PREFERRED STOCKS, COMMON STOCKS AND OTHER INVESTED ASSETS

The fair values of bonds, residual income tranches (reported in Other Invested Assets), preferred stocks and common stocks are determined by management after considering external pricing sources and internal valuation techniques. For securities with sufficient trading volume, prices are obtained from third-party pricing services. For securities that are traded infrequently, fair values are determined after evaluating prices obtained from third-party pricing services and independent brokers or are valued internally using various valuation techniques.

35

The Company’s management analyzes and evaluates prices received from independent third parties and determines whether they are reasonable estimates of fair value. Management’s analysis may include, but is not limited to, review of third-party pricing methodologies and inputs, analysis of recent trades, comparison to prices received from other third parties and development of internal models utilizing observable market data of comparable securities. The Company assesses the reasonableness of valuations received from independent brokers by considering current market dynamics and current pricing for similar securities.

For prices received from independent pricing services, the Company applies a formal process to challenge any prices received that are not considered representative of fair value. If prices received from independent pricing services are not considered reflective of market activity or representative of fair value, independent non-binding broker quotations are obtained or an internally developed valuation is prepared. Upon evaluation, the Company determines which source represents the best estimate of fair value. Overrides of third-party prices to internally developed valuations of fair value did not produce material differences in the fair values for the majority of the portfolio; accordingly, overrides were not material. In the absence of such market observable activity, management’s best estimate is used.

Fair values determined by internally derived valuation tools use market-observable data if available. Generally, this includes using an actively traded comparable security as a benchmark for pricing. These internal valuation methods primarily represent discounted cash flow models that incorporate significant assumptive inputs such as spreads, discount rates, default rates, severity and prepayment speeds. These inputs are analyzed by the Company’s portfolio managers and analysts, investment accountants and risk managers. Internally developed estimates may also use unobservable data, which reflect the Company’s own assumptions about the inputs market participants would use.

Most securities priced by a major independent third-party service have been classified as Level 2, as management has verified that the significant inputs used in determining their fair values are market observable and appropriate. Externally priced securities for which fair value measurement inputs are not sufficiently transparent, such as securities valued based on broker quotations, have been classified as Level 3. Internally valued securities, including adjusted prices received from independent third parties, where significant management assumptions have been utilized in determining fair value, have been classified as Level 3. Securities categorized as Level 1 consist primarily of investments in mutual funds.

The Company applies controls over the valuation process. Prices are reviewed and approved by the Company’s professional credit analysts that have industry expertise and considerable knowledge of the issuers. Management performs validation checks to determine the completeness and reasonableness of the pricing information, which include, but are not limited to, changes from identified pricing sources, significant or unusual price fluctuations above predetermined tolerance levels from the prior period, and back-testing of fair values against prices of actual trades. A group comprised of the Company’s investment accountants, portfolio managers and analysts and risk managers meet to discuss any unusual items above the tolerance levels that may have been identified in the pricing review process. These items are investigated, further analysis is performed and resolutions are appropriately documented.

DERIVATIVE INSTRUMENTS

Derivative instruments are reported at fair value using pricing valuation models which utilize market data inputs or independent broker quotations or exchange prices for exchange-traded futures. The Company calculates the fair value of derivatives using market standard valuation methodologies for foreign currency and interest rate swaps and equity options. Internal models are used to value equity total return swaps. The derivatives are valued using mid-market inputs that are predominantly observable in the market. Inputs include, but are not limited to, interest swap rates, foreign currency forward and spot rates, credit spreads and correlations, interest volatility, equity volatility and equity index levels. The Company accounts for certain derivatives that are designated as cash flow hedges in the same manner as the hedged liability, which are determined using pricing models with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. On a monthly basis, the Company performs an analysis of derivative valuations, which includes both quantitative and qualitative analyses. Examples of procedures performed include, but are not limited to, review of pricing statistics and trends, analysis of the impacts of changes in the market environment and review of changes in the market value for each derivative by both risk managers and investment accountants. Internally calculated fair values are reviewed and compared to external broker fair values for reasonableness.

Derivative instruments classified as Level 1 are exchange-traded. Derivative instruments classified as Level 2 primarily include foreign currency and interest rate swaps. The derivative valuations are determined using pricing models with inputs that are observable in the market or can be derived principally from or corroborated by observable market data, primarily interest swap rates, interest rate volatility and foreign currency forward and spot rates.

36

Derivative instruments classified as Level 3 include complex derivatives, such as equity options and total return swaps. These derivatives are valued using pricing models which utilize both observable and unobservable inputs, primarily interest rate volatility, equity volatility, equity index levels and, to a lesser extent, broker quotations. A derivative instrument containing Level 2 inputs would be classified as a Level 3 financial instrument in its entirety if it has at least one significant Level 3 input.

SEPARATE ACCOUNT ASSETS

The fair value of separate account assets is based on the fair value or NAV of the underlying assets. Separate account assets held at fair value primarily consist of investments in mutual funds and hedge funds.

Level 1 separate account assets include mutual funds that are valued based on reported net asset values provided by fund managers daily and can be redeemed without restriction. Management performs validation checks to determine the reasonableness of the pricing information, which include, but are not limited to, price fluctuations above predetermined thresholds from the prior day and validation against similar funds or indices. Variances are investigated, further analysis is performed and resolutions are appropriately documented.

The fair value of assets in the Separate Accounts in Level 2 consist of bonds based on the valuation methods described above in Bonds, Preferred Stocks, Common Stocks and Other Invested Assets. The fair value of assets in the Separate Accounts in Level 3 consist of bonds based on valuation methods described in Bonds, Preferred Stocks, Common Stocks and Other Invested Assets and mortgage loans based on the valuation method described below.

Investments Measured Using the NAV Practical Expedient

Separate account assets include hedge funds where the fair value is based on the net asset value obtained from the fund managers. Investment strategies related to separate account hedge funds include multi-strategy primarily invested in U.S. and international equity, fixed income, long/short equity, loans, precious metals, real estate, derivatives, privately held companies and private partnerships. The redemption frequency can be daily, monthly, quarterly, semi-annually and annually. The remaining lockup period ranges from zero to 51 months as of December 31, 2022. There are no unfunded commitments of investments measured using the NAV practical expedient as of December 31, 2022.

37

LEVEL 3 RECONCILIATION

The tables below present a reconciliation of the beginning and ending balances of the Level 3 financial instruments that are carried at fair value using significant unobservable inputs:

					Total Gains or (Losses)
	January 1, 2022	Transfers Into of Level 3 ^{(1) (2)}		Transfers Out of Level 3 ⁽²⁾	Included in Net Income		Included in Surplus		Purchases	Sales		Settlements		December 31, 2022
	(In Millions)
Bonds Issuer Obligations		$25			($13	)	$3					($1	)	$14
LBASS	$103	40		($116) ⁽³⁾	(11	)	(16	)	$7			(3	)	4
Preferred stocks	1						(2	)	5					4
Common stocks	22				5				154	($116	)			65
Derivatives, net	1,906				(672	)	(333	)	561			(585	)	877
Other invested assets		116	⁽³⁾											116
Total	$2,032	$181		($116)	($691	)	($348	)	$727	($116	)	($589	)	$1,080

				Total Gains or (Losses)
	January 1, 2021	Transfers Into of Level 3 ^{(1) (2)}	Transfers Out of Level 3 ⁽²⁾	Included in Net Loss	Included in Surplus		Purchases	Sales		Settlements		December 31, 2021
	(In Millions)
Bonds	$1	$31		$1	($2	)	$72					$103
Preferred stocks							1					1
Common stocks	7						16	($1	)			22
Derivatives, net	1,264			1,518	(53	)	1,022			($1,845	)	1,906
Total	$1,272	$31	$—	$1,519	($55	)	$1,111	($1	)	($1,845	)	$2,032

⁽¹⁾Transferred into Level 3 due to carrying value adjustments down to fair value.

⁽²⁾Transfers in and/or out are recognized at the end of each quarter.

⁽³⁾Transferred into/out of Level 3 due to reclassification from LBASS to Other Invested Assets.

38

The book/adjusted carrying values and fair values of the Company’s financial instruments are presented in the following table:

	December 31, 2022
	Fair Value		Book/ Adjusted Carrying Value	Level 1	Level 2		Level 3	NAV	Not Practicable (Carrying Value)
	(In Millions)
Assets:
Bonds	$65,965		$73,845		$61,162		$4,803
Preferred stocks	4		4				4
Common stocks ⁽¹⁾	195		195	$130			65
Mortgage loans	16,705		19,028				16,705
Cash, cash equivalents and short-term investments	888		888	855	19		14
Contract loans	7,597		7,597				7,597
Derivatives, net	(166	)	215	52	(1,095	)	877
Securities lending reinvested collateral assets	2,828		2,828		2,828
Other invested assets ⁽¹⁾	1,643		1,692		1,496		147
Separate account assets	58,012		58,636	53,895	2,756		512	$849
Liabilities:
Liability for deposit-type contracts ⁽²⁾	17,856		18,503		13,138		4,718
Separate account liability for deposit-type contracts	5		5				5

	December 31, 2021
	Fair Value	Book/ Adjusted Carrying Value	Level 1	Level 2		Level 3	NAV	Not Practicable (Carrying Value)
			(In Millions)
Assets:
Bonds	$72,460	$67,346		$67,642		$4,818
Preferred stocks	2	2		1		1
Common stocks ⁽¹⁾	165	165	$143			22
Mortgage loans	16,605	15,923				16,605
Cash, cash equivalents and short-term investments	993	993	813	30		150
Contract loans	7,489	7,489				7,489
Derivatives, net	1,983	1,983	82	(5	)	1,906
Securities lending reinvested collateral assets	3,327	3,327		3,327
Other invested assets ⁽¹⁾	776	743		714		62
Separate account assets	70,462	70,442	67,331	2,254		230	$647
Liabilities:
Liability for deposit-type contracts ⁽²⁾	11,705	11,108		6,919		4,786
Separate account liability for deposit-type contracts	6	6				6

⁽¹⁾Excludes investments accounted for under the equity method.

⁽²⁾Excludes deposit liabilities with no defined or contractual maturities.

39

The tables above exclude the following financial instruments: investment income due and accrued, derivatives collateral receivable and payable and payable for securities lending. The fair value of these financial instruments, which are primarily classified as Level 2, approximates carrying value as they are short-term in nature such that there is minimal risk of material changes in fair value due to changes in interest rates or counterparty credit.

The following methods and assumptions were used to estimate the fair value of these financial instruments as of December 31, 2022 and 2021:

MORTGAGE LOANS

The fair value of the mortgage loan portfolio is determined by discounting the estimated future cash flows, using current rates that are applicable to similar credit quality, property type and average maturity of the composite portfolio.

CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS (INCLUDING SECURITIES LENDING REINVESTED COLLATERAL ASSETS)

For cash and cash equivalents with maturities of three months or less from date of purchase, their fair values approximate their book/adjusted carrying values due to their short maturities. For short-term investments with maturities of one year or less from date of purchase, excluding cash equivalents and money market mutual funds, their fair values are determined using similar valuation techniques as described above for bonds. Cash equivalents that are money market mutual funds have fair values that approximate their book/adjusted carrying values due to the short maturities of the underlying investments of the funds. Securities lending reinvested collateral assets that are primarily reverse purchase agreements have fair values that approximate their book/adjusted carrying values due to their short maturities.

CONTRACT LOANS

Contract loans are not separable from their associated insurance contract and bear no credit risk since they do not exceed the contract’s cash surrender value, making these assets fully secured by the cash surrender value of the contracts. Therefore, the carrying amount of the contract loans is a reasonable approximation of fair value.

OTHER INVESTED ASSETS

Other invested assets consist primarily of surplus note investments held from other insurance providers and WCFIs that are NAIC rated 1 or 2. The fair values of the surplus note investments are priced by an independent pricing service as described for bonds above. The WCFIs are held at accreted book value which approximates fair value due to the short-term nature of the investment.

LIABILITY FOR DEPOSIT-TYPE CONTRACTS

The primary methods used to determine the fair value of liability for deposit-type contracts are: discounted cash flow methodologies using significant unobservable inputs, discounted cash flow methodologies using current market risk-free interest rates and adding a spread to reflect nonperformance risk. The fair value of deposit-type contracts issued at floating rates or that are short-term in nature approximate their carrying value.

SEPARATE ACCOUNT LIABILITY FOR DEPOSIT-TYPE CONTRACTS

The statement value of separate account liability for deposit-type contracts is reported under separate account liabilities and is a reasonable estimate of their fair value because the contractual interest rates are variable and based on current market rates.

40

5.

DERIVATIVE INSTRUMENTS

The Company primarily utilizes derivative instruments to manage its exposure to interest rate risk, foreign currency risk and equity risk, collectively “market risk”, and credit risk. Derivative instruments are also used to manage the duration mismatch of general account assets and liabilities. Derivatives may be exchange-traded or contracted in the over-the-counter (OTC) market. The Company’s OTC derivatives are primarily bilateral contracts between two counterparties. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties. The Company utilizes a variety of derivative instruments including swaps, exchange-traded futures and options.

Market risk is the possibility that future changes in market conditions may make the derivative financial instrument less valuable. Credit risk is defined as the possibility that a loss may occur from the failure of another party to perform in accordance with the terms of the contract, which exceeds the value of existing collateral, if any. The Company mitigates these risks through established market and credit risk limits.

The following table summarizes the notional amount, net carrying value, and fair value of the Company’s derivative instruments by derivative type. Cash collateral received from or pledged to counterparties is not included in the amounts below.

	Notional Amount	Net Carrying Value		Fair Value
		(In Millions)
December 31, 2022:
Equity call options	$24,922	$877		$877
Foreign currency swaps	6,290	151		151
Interest rate swaps	11,018	(865	)	(1,246	)
Equity total return swaps	136
Equity futures	3,657	52		52
Total	$46,023	$215		($166	)

December 31, 2021:
Equity call options	$22,355	$1,908		$1,908
Foreign currency swaps	4,325	65		65
Interest rate swaps	6,256	(70	)	(70	)
Equity total return swaps	155	(3	)	(3	)
Equity futures	2,731	82		82
Equity put options	732	1		1
Total	$36,554	$1,983		$1,983

Notional amount represents a standard of measurement of the volume of derivatives. Notional amount is not a quantification of market risk or credit risk and is not recorded in the statements of admitted assets, liabilities and capital and surplus - statutory basis. Notional amounts generally represent those amounts used to calculate contractual cash flows to be exchanged and are not paid or received, except for certain contracts such as foreign currency swaps.

Cash collateral received from OTC counterparties was $185 million and $846 million as of December 31, 2022 and 2021, respectively. Cash collateral pledged to OTC counterparties was $682 million and $290 million as of December 31, 2022 and 2021, respectively.

As of December 31, 2022 and 2021, the Company had also accepted collateral, consisting of various securities, with a fair value of zero and $327 million, respectively, which are held in separate custodial accounts. As of December 31, 2022 and 2021, none of this collateral had been repledged.

41

The Company is required to pledge initial margin for all futures contracts. The amount of required margin is determined by the exchange on which it is traded. The Company pledged cash and assets to satisfy this collateral requirement. Cash pledged for initial margin was $52 million and $82 million as of December 31, 2022 and 2021, respectively. Assets pledged to satisfy this requirement for initial margin had a fair value of $187 million and $138 million as of December 31, 2022 and 2021, respectively.

As of December 31, 2022 and 2021, the Company provided collateral in the form of various securities with a carrying value of $1,434 million and $126 million, respectively, which are included in bonds. The counterparties are permitted by contract to sell or repledge this collateral.

DERIVATIVES DESIGNATED AS FAIR VALUE HEDGES

The Company offers life insurance products with indexed account options. The interest credited on the indexed accounts is a function of the underlying domestic and/or international equity index, subject to various caps, thresholds and participation rates.

The Company utilizes equity call options to hedge the credit paid to the policyholder on the underlying index for its life insurance products with indexed account options. These equity call options are contracts to buy the index at a predetermined time at a contracted price. The contracts will be net settled in cash based on differentials in the index at the time of exercise and the strike price subject to a cap, net of option premiums. These equity call options are designated as a fair value hedge under statutory accounting principles with changes in fair value recorded in net realized capital gains (losses) less tax.

The Company utilizes foreign currency interest rate swap agreements to convert floating foreign denominated liabilities to floating U.S. dollar liabilities. A foreign currency interest rate swap involves the exchange of an initial principal amount in two currencies, and the agreement to re-exchange the currencies at a future date, at an agreed-upon exchange rate. There are also periodic exchanges of interest payments in the two currencies at specified intervals, calculated using agreed-upon interest rates, exchange rates and the exchanged principal amounts. The Company enters into these agreements primarily to manage the currency risk associated with investments and liabilities that are denominated in foreign currencies.

For the years ended December 31, 2022, 2021 and 2020, $728 million, $554 million and $432 million, respectively, of option premium expense recorded in net investment income for equity options hedging indexed life insurance products was excluded from the assessment of hedge effectiveness. For all other hedging relationships, no component of the hedging instrument’s fair value was excluded from the assessment of hedge effectiveness.

For the years ended December 31, 2022, 2021 and 2020, the Company recorded $36 million, $15 million and $1 million, respectively, in unrealized capital gain resulting from derivatives that no longer qualified for hedge accounting.

DERIVATIVES DESIGNATED AS CASH FLOW HEDGES

The Company utilizes foreign currency interest rate swap agreements to convert fixed or floating foreign denominated liabilities to U.S. dollar fixed liabilities.

The Company also utilizes interest rate swaps to hedge against reinvestment risk embedded in products with long durations. An interest rate swap agreement involves the exchange, at specified intervals, of interest payments resulting from the difference between fixed rate and floating rate interest amounts calculated by reference to an underlying notional amount. Generally, no cash is exchanged at the outset of the contract and no principal payments are made by either party.

The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is 40 years. The Company may discontinue cash flow hedge accounting because it is no longer probable that the forecasted transaction will occur by the end of the originally specified time period or within two months of the anticipated date. The Company did not have cash flow hedges that have been discontinued.

DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS

The Company offers a rider on certain variable annuity contracts that guarantees net principal over specified periods, as well as riders on certain variable annuity contracts that guarantee a minimum withdrawal benefit over specified periods, subject to certain restrictions.

42

The Company utilizes total return swaps, exchange-traded futures and equity put options based upon domestic and international equity market indices to economically hedge the equity risk of the guarantees in its variable annuity products. Total return swaps are swaps whereby the Company agrees to exchange the difference between the economic risk and reward of an equity index and a floating rate of interest, calculated by reference to an agreed upon notional amount. Cash is paid and received over the life of the contract based on the terms of the swap. In exchange-traded futures transactions, the Company agrees to purchase or sell a specified number of contracts, the values of which are determined by the underlying equity indices, and to post variation margin on a daily basis in an amount equal to the change in the daily fair value of those contracts. The equity put options involve the exchange of an upfront payment for the return, at the end of the option agreement, of the equity index below a specified strike price. The Company also utilizes interest rate swaps to manage interest rate risk in the variable annuity products.

The Company offers fixed indexed annuity products where interest is credited to the policyholder’s account balance based on domestic and/or international equity index changes, subject to various caps or participation rates. The Company utilizes total return swaps, exchange-traded equity futures and equity call options based upon market indices to economically hedge the interest credited to the policyholder based upon the underlying equity index. These equity call option contracts involve the exchange of an upfront premium payment for the return, at the end of the option agreement, of the differentials in the index at the time of exercise and the strike price subject to a cap.

Interest rate swaps are used by the Company to reduce market risk from changes in interest rates and other interest rate exposure arising from duration mismatches between assets and liabilities.

Foreign currency interest rate swap agreements are used to convert foreign-denominated assets or liabilities to U.S. dollar assets or liabilities.

The average and ending fair value of derivatives not designated as hedging instruments are as follows:

	Average Fair Value Years Ended December 31,				Ending Fair Value as of December 31,
	2022		2021		2022		2021
					Asset	Liability	Asset	Liability
					(In Millions)
Equity call options	$184		$423		$103		$478
Equity total return swaps	1		1					$3
Equity futures	79		72		52		82
Foreign currency swaps	210		(8	)	271	$18	86	52
Interest rate swaps	(228	)	(86	)	39	181	89	159
Equity put options			5				1
Total	$246		$407		$465	$199	$736	$214

43

The following table summarizes the surplus and net realized capital gains (losses) impact on derivative instruments not designated as hedging instruments

	Years Ended December 31,						Years Ended December 31,
	2022		2021		2020		2022		2021		2020
	Surplus						Net Realized Capital Gains (Losses)
					(In Millions)
Equity total return swaps	$2		($2	)	$30						($8	)
Equity futures	104		15		(45	)	$233		($416	)	(1,035	)
Foreign currency swaps	94		25		(3	)	128		69		(104	)
Interest rate swaps	3		(165	)	72		(1,100	)	0		6
Equity call options	(336	)	(36	)	163		132		769		259
Equity put options			(1	)	2				0		37
Total	($133	)	($164	)	$219		($607	)	$422		($845	)

For the years ended December 31, 2022, 2021 and 2020, net gains or (losses) from periodic net settlements and amortization recorded in net investment income were ($188) million, ($176) million and ($35) million, respectively.

For equity call options with deferred financing premiums which are paid at the end of the derivative contract, summarized in the tables below are the undiscounted future settled premium commitments, equity call option fair value and equity call option fair value excluding impact of discounted future settled premiums (In Millions):

Years Ending December 31:	Premium Payments Due
2023	$774	⁽¹⁾
2024	88
2025	34
2026	49
2027 and thereafter	122
Total undiscounted future settled premium commitments	$1,067

⁽¹⁾Premium payments are expected to be made monthly, based upon current maturity date of derivative contracts.

Years Ending December 31:	Undiscounted Future Premium Commitments	Equity Call Option Fair Value	Equity Call Option Fair Value Excluding Impact of Discounted Future Settled Premiums
2022	$1,067	$774	$774
2021	791	1,480	1,480

DERIVATIVES DESIGNATED AS HEDGING UNDER SSAP NO. 108

The hedge strategy consists of variable annuity contracts guaranteed benefits, including related minimum benefit guarantees, that are sensitive to interest rate movement. The impact from changes in interest rates to the present value of cash flows as well as the value of the investments comprising the account value are assessed monthly against the percentage of the economic liability being hedged.

44

Interest rate risk may be hedged by a duration matched portfolio of interest sensitive derivatives, such as treasury futures, interest rate swaps, interest rate swaptions or treasury caps/floors. The Company entered into this hedging relationship effective January 1, 2022 and no changes have been made to the hedging strategy since inception. Hedge effectiveness is measured in accordance with the requirements outlined under SSAP No. 108 on a quarterly basis, both prospectively and retrospectively, and remains highly effective as of December 31, 2022.

The following table summarizes the scheduled amortization for the recognition of gains/losses and deferred assets and liabilities (In Millions):

Amortization Year	Deferred Assets	Deferred Liabilities
2023	$35
2024	35
2025	35
2026	35
2027 and thereafter	188
Total	$328	—

The following table presents the rollforward of future amortization and total deferred balance (In Millions):

Prior year total deferred balance	$—
Current year amortization	19
Current year deferred recognition	(347	)
Ending deferred balance	$328

The following table presents the open derivative removed from SSAP No. 108 and captured in scope of SSAP No. 86 as of December 31, 2022 (In Millions):

Total derivative fair value change	($26)
Change in fair value reflected as a deferred asset/liability under SSAP No. 108	(24)
Unrealized gain/loss recognized for derivative under SSAP No. 86	($2)

The following table presents the open derivative removed from SSAP No. 86 and captured in scope of SSAP No. 108 as of December 31, 2022 (In Millions):

Total derivative fair value change	($271)
Unrealized gain/loss recognized prior to reclassification to SSAP No. 108	(43)
Fair value changes available for applicants under SSAP No. 108	($228)

The Company did not have any hedging strategies no longer identified as highly effective previously captured within the scope of SSAP No. 108. The Company did not elect to terminate the hedging strategy and/or discontinue the special accounting provisions permitted within SSAP No. 108.

DERIVATIVE CREDIT EXPOSURE

The Company is exposed to credit-related losses in the event of nonperformance by derivative counterparties to OTC derivatives. The Company manages its credit risk by dealing with creditworthy counterparties, establishing risk-control limits, executing legally enforceable master netting agreements, and obtaining collateral where appropriate. In addition, the Company evaluates the financial stability of each counterparty before entering into each agreement and throughout the period that the financial instrument is owned.

45

The Company’s OTC-cleared derivatives are effected through central clearing counterparties and its exchange-traded derivatives are effected through regulated exchanges. Such positions are marked to market and margined on a daily basis (both initial margin and variation margin), and the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to such derivatives.

For OTC derivative transactions, the Company enters into legally enforceable master netting agreements which provide for the netting of payments and receipts with a single counterparty. The net position with each counterparty is calculated as the aggregate fair value of all derivative instruments with each counterparty, net of income or expense accruals and collateral paid or received. These master netting agreements include collateral arrangements with derivative counterparties, which require positions be marked to market and margined on a daily basis by the daily settlement of variation margin. The Company has minimal counterparty exposure to credit-related losses in the event of non performance by these counterparties.

The OTC agreements may include a termination event clause associated with financial strength ratings assigned by certain independent rating agencies. If these financial strength ratings were to fall below a specified level, as defined within each counterparty master agreement, or if one of the rating agencies were to cease to provide a financial strength rating, the counterparty could terminate the master agreement with payment due based on the net fair value of the underlying derivatives. As of December 31, 2022 and 2021, the Company’s financial strength ratings were above the specified level.

The Company’s credit exposure is measured on a counterparty basis as the net positive fair value of all derivative positions with the counterparty, net of income or expense accruals and collateral received. The Company’s credit exposure for OTC derivatives as of December 31, 2022 was $5 million. The maximum exposure to any single counterparty was $3 million as of December 31, 2022. All of the net credit exposure for the Company from derivative contracts is with investment-grade counterparties. The Company has not incurred any losses on derivative financial instruments due to counterparty nonperformance for the years ended December 31, 2022, 2021 and 2020. The Company does not expect any counterparties to fail to meet their obligations given their investment- grade ratings.

46

6.

INCOME TAXES

The components of net admitted deferred tax assets are as follows:

		December 31, 2022				December 31, 2021
		Ordinary	Capital		Total	Ordinary	Capital		Total
	(In Millions)					(In Millions)
Gross deferred tax assets		$1,118	$106		$1,224	$1,106			$1,106
Statutory valuation allowance adjustment
Adjusted gross deferred tax assets		1,118	106		1,224	1,106			1,106
Deferred tax assets nonadmitted		435			435	124			124
Net admitted deferred tax asset		683	106		789	982			982
Deferred tax liabilities		132	323		455	229	$291		520
Net admitted deferred tax asset (net deferred tax liability)		$551	($217	)	$334	$753	($291	)	$462

	Change during 2022
	Ordinary		Capital	Total
	(In Millions)
Gross deferred tax assets	$12		$106	$118
Statutory valuation allowance adjustment
Adjusted gross deferred tax assets	12		106	118
Deferred tax assets nonadmitted	311			311
Net admitted deferred tax asset	(299	)	106	(193	)
Deferred tax liabilities	(97	)	32	(65	)
Net admitted deferred tax asset (net deferred tax liability)	($202	)	$74	($128	)

47

The admission calculation components of SSAP No. 101, Income Taxes, are as follows:

	December 31, 2022			December 31, 2021
	Ordinary	Capital	Total	Ordinary	Capital	Total
	(In Millions)			(In Millions)
Federal income taxes paid in prior years recoverable through loss carrybacks	$—		$—	$—		$—
Adjusted gross deferred tax assets expected to be realized after application of the threshold limitation	334		334	462		462
Adjusted gross deferred tax assets expected to be realized following the balance sheet date	334		334	462		462
Adjusted gross deferred tax assets allowed per limitation threshold			1,703			1,633
Adjusted gross deferred tax assets offset by gross deferred tax liabilities	132	$323	455	229	$291	520
Deferred tax assets admitted as the result of application of SSAP No. 101	$466	$323	$789	$691	$291	$982

	Change during 2022
	Ordinary		Capital	Total
	(In Millions)
Federal income taxes paid in prior years recoverable through loss carrybacks	$—			$—
Adjusted gross deferred tax assets expected to be realized after application of the threshold limitation	(128	)		(128	)
Adjusted gross deferred tax assets expected to be realized following the balance sheet date	(128	)		(128	)
Adjusted gross deferred tax assets allowed per limitation threshold				70
Adjusted gross deferred tax assets offset by gross deferred tax liabilities	(97	)	$32	(65	)
Deferred tax assets admitted as the result of application of SSAP No. 101	($225	)	$32	($193	)

The ratio percentage and adjusted capital and surplus used to determine recovery period and threshold limitation are as follows ($ In Millions):

	December 31,
	2022		2021
Ratio percentage used to determine recovery period and threshold limitation amount	973	%	1,172	%
Amount of adjusted capital and surplus used to determine recovery period and threshold limitation	$11,357		$10,886

48

The impacts of tax planning strategies as of December 31, 2022 and 2021 are as follows ($ In Millions):

	December 31, 2022
	Ordinary	Capital
Adjusted gross deferred tax assets	$1,118	$106
Percent of total adjusted gross deferred tax assets	0%	0%

Net admitted adjusted gross deferred tax assets	$683	$106
Percent of total net admitted adjusted gross deferred tax assets	0%	0%

	December 31, 2021
	Ordinary	Capital
Adjusted gross deferred tax assets	$1,106	$—
Percent of total adjusted gross deferred tax assets	0%	0%

Net admitted adjusted gross deferred tax assets	$982	$—
Percent of total net admitted adjusted gross deferred tax assets	0%	0%

The Company’s tax planning strategies do not include the use of reinsurance as of December 31, 2022 and 2021.

The Federal income taxes are as follows:

	Years Ended December 31,					Change		Change
	2022	2021		2020		2022-2021		2021-2020
	(In Millions)
Federal income tax expense (benefit)	$9	$210		($197	)	($201	)	$407
Federal income taxes on net capital gains (loss)	22	(7	)	14		29		(21	)
Other				(12	)	—		12
Federal income tax expense (benefit)	$31	$203		($195	)	($172	)	$398

49

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows. There were no capital deferred tax assets as of December 31, 2021.

	December 31,
Deferred tax assets:	2022	2021	Change
Ordinary:		(In Millions)
Policyholder reserves	$486	$598	($112	)
Deferred acquisition costs	501	428	73
Tax credit carryforward	34		34
Compensation and benefits accrual	72	66	6
Fixed assets	11		11
Policyholder dividend accruals	2	2
Other	12	12
Total	1,118	1,106	12
Statutory valuation allowance adjustment
Nonadmitted	435	124	311
Admitted ordinary deferred tax assets	683	982	(299	)

Capital:
Investments	106		106
Admitted capital deferred tax assets	106	—	106

Admitted deferred tax assets	789	982	(193	)

Deferred tax liabilities:
Ordinary:
Investments	126	144	(18	)
Fixed assets		78	(78	)
Other	6	7	(1	)
Total deferred tax liabilities	132	229	(97	)

Capital:
Investments	323	291	32
Total	323	291	32

Deferred tax liabilities	455	520	(65	)

Net admitted deferred tax assets	$334	$462	($128	)

50

The change in net deferred income taxes, exclusive of the nonadmitted assets, is as follows:

	December 31,
	2022	2021	Change
	(In Millions)
Total deferred tax assets	$1,224	$1,106	$118
Total deferred tax liabilities	455	520	(65	)
Net deferred tax asset	$769	$586	183
Tax effect of unrealized activities			55
Change in net deferred income tax			238
Solar energy tax credits not reflected in change in net deferred income tax			(34	)
Change in net operating deferred income tax			$204

The CARES Act, enacted on March 27, 2020, contains certain income tax related provisions. One of the key provisions allows companies with net operating losses (NOL) originating in 2018, 2019 or 2020 to carry back those losses to the five preceding tax years and recover cash taxes paid in those years. The Company recorded a Federal income tax benefit for the expected carryback of 2020 NOL to the five preceding tax years from 2015 to 2019, some of which were at a higher statutory tax rate than the current year. The benefit was reflected in Federal income tax expense (benefit) in 2020, with additional adjustment in 2021 based on 2020 tax return as filed.

Federal income tax expense (benefit) is different from that which would be obtained by applying the statutory Federal income tax rate of 21% to income before income taxes. The significant items causing these differences are as follows:

	Years Ended December 31,
	2022		2021		2020
	(In Millions)
Provision (benefit) computed at statutory rate	$11		$225		($51	)
Tax impact from affiliates	19		41		(53	)
Benefit of NOL carryback under CARES Act			(18	)	(72	)
Tax impact from surplus activities	(13	)			61
Tax credits	(17	)	(21	)	(14	)
Taxes allocated under tax sharing agreement	(23	)	(24	)	(29	)
Dividend received deduction	(31	)	(33	)	(30	)
Tax impact from derivative gains (losses) from surplus	(112	)	(43	)	54
Other	(7	)	(12	)	7
Total statutory income tax	($173	)	$115		($127	)

Federal income tax expense (benefit)	$31		$203		($195	)
Change in net deferred income taxes	(204	)	(88	)	68
Total statutory income tax	($173	)	$115		($127	)

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The Company has no low income housing and foreign tax credit carryforwards. The Company has a $34.0 million solar tax credit that originated in 2022 and will expire in 2042 The Company had no Alternative Minimum Tax credit carryforward. The Company had no adjustments of deferred tax assets (DTAs) and deferred tax liabilities (DTLs) for enacted changes in tax laws or a change in tax status. The Company had no adjustments to gross DTAs because of a change in circumstances that causes a change in judgment about the realizability of the related DTAs. The Company had no deposits under Section 6603 of the Internal Revenue Code.

The following are estimated Federal income taxes in the current and prior years that will be available for recoupment in the event of future net losses (In Millions).

	Ordinary	Capital
2022 estimated
2021		$79
2020		27

The Company had no federal or foreign income tax loss contingencies for which it is reasonably possible that the total liability will significantly increase within 12 months from December 31, 2022.

The Company’s policy is to recognize interest expense and penalties related to tax contingencies as a component of Federal and foreign income taxes. During the years ended December 31, 2022, 2021 and 2020, the Company paid an immaterial amount of interest and penalties to state tax authorities.

PMHC and its subsidiaries file income tax returns in the U.S. Federal and various state jurisdictions. PMHC is under continuous audit by the Internal Revenue Service (IRS) and is audited periodically by some state taxing authorities. The IRS is currently examining PMHC’s tax returns for the years ended December 31, 2013 through 2018. The exam of the Federal tax returns through tax years ended December 31, 2012 has been completed and certain issues are under appeal. The State of California is auditing the tax year ended December 31, 2009 and certain issues are under protest. The Company does not expect the current Federal and California audits to result in any material assessments.

7.

BORROWED MONEY

The Company maintains a $700 million commercial paper program. There was no commercial paper debt outstanding as of December 31, 2022 and 2021. In addition, the Company and Pacific LifeCorp maintain a $1.0 billion senior revolving credit facility available to both borrowers up to the full commitment amount with a maturity date of June 2026. This facility serves as a back-up line of credit to the commercial paper program. Interest is at variable rates. This facility had no debt outstanding as of December 31, 2022 and 2021. The revolving credit facility has certain debt covenants and the Company believes it was in compliance with those debt covenants as of December 31, 2022.

In 2022, the Company entered into uncommitted repurchase agreements with various financial institutions. See Note 3 for details on these agreements. There was no debt outstanding in connection with these agreements as of December 31, 2022.

The Company is a member of the Federal Home Loan Bank (FHLB of Topeka) of Topeka. The Company is eligible to receive advances from the FHLB based on a percentage of the Company’s statutory general account assets provided it has sufficient available eligible collateral and is in compliance with the FHLB requirements, debt covenant restrictions and insurance laws and regulations. The Company’s estimated maximum borrowing capacity (after taking into account required collateralization levels) was $3.5 billion and $1.5 billion as of December 31, 2022 and 2021, respectively. However, asset eligibility determination is subject to the FHLB’s discretion and to the availability of qualifying assets at the Company. During 2022, the Company received advances under short-term debt arrangements to provide for additional liquidity, which were accounted for as borrowed money under SSAP No. 15, Debt and Holding Company Obligations. There was no debt outstanding with the FHLB as of December 31, 2022 and 2021.

Through its membership, the Company has issued funding agreements to the FHLB in exchange for cash advances. The Company uses these funds in an investment spread strategy, consistent with its other investment spread business. As such, the Company applies SSAP No. 52, Deposit-Type Contracts, accounting treatment to these funds, consistent with its other deposit-type contracts. The funding agreement liabilities are included in liability for deposit-type contracts.

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The collateral pledged to the FHLB is as follows:

	Fair Value	Carrying Value	Aggregate Total Borrowing	Fair Value	Carrying Value	Aggregate Total Borrowing
	December 31, 2022			December 31, 2021
General Accounts:	(In Millions)
Total collateral pledged	$4,747	$5,289	$1,342	$1,100	$1,081	$489
Maximum collateral pledged	4,758	5,299	1,556	1,108	1,087	489

The amount borrowed from FHLB as of December 31, 2022 and 2021 is as follows (In Millions):

	General Account	Funding Agreement Reserves Established	General Account	Funding Agreement Reserves Established
	December 31, 2022		December 31, 2021
Debt
Funding agreements	$1,342	$1,347	$489	$489
Total	$1,342	$1,347	$489	$489

The maximum borrowing from FHLB during the years ended December 31, 2022 and 2021 is as follows (In Millions):

The Company’s debt borrowings from FHLB are not subject to prepayment obligations. The Company’s funding agreements with the FHLB are subject to prepayment obligations.

The Company is required to purchase stock in FHLB of Topeka each time it receives an advance. As of December 31, 2022 and 2021, the Company holds $62 million and $22 million, respectively, of FHLB of Topeka stock, which is recorded in common stocks. None of the membership stock is eligible for redemption.

8.

CAPITAL AND SURPLUS

The Company has 600,000 shares of common stock authorized, issued and outstanding with a par value of $50.00 per share. There is only one class of shares.

DIVIDEND RESTRICTIONS

The payment of dividends by the Company to Pacific LifeCorp is subject to restrictions set forth in the State of Nebraska insurance laws. These laws require (i) notification to the NE DOI for the declaration and payment of any dividend and (ii) approval by the NE DOI for accumulated dividends within the preceding twelve months that exceed the greater of 10% of statutory policyholder surplus as of the preceding December 31 or statutory net gain from operations for the preceding twelve months ended December 31. Based on this limitation and 2022 statutory results, the Company could pay up to $1.1 billion in dividends in 2023 to Pacific LifeCorp, without prior approval by the NE DOI, subject to the notification requirement. Within the dividend restrictions, there are no

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restrictions placed on the portion of Company profits that may be paid as ordinary dividends to stockholders. There are no other restrictions on unassigned surplus.

No dividends were paid during the years ended December 31, 2022 and 2020. During the year ended December 31, 2021, Pacific Life paid an ordinary dividend in the form of cash and bonds to Pacific LifeCorp of $450 million.

During the years ended December 31, 2022, 2021 and 2020, Pacific LifeCorp made a capital contribution to the Company of $700 million, zero and $650 million, respectively, that is reported in paid in surplus.

UNASSIGNED SURPLUS

The portion of unassigned surplus represented by cumulative unrealized gains, net, as of December 31, 2022 and 2021 was $590 million and $708 million, respectively.

SURPLUS NOTES

The carrying values of surplus notes are shown below:

	December 31,
	2022	2021
	(In Millions)
1993 Surplus Notes	$134	$134
2009 Surplus Notes	300	385
2013 Surplus Note	405	407
2017 Surplus Notes	749	749
Total surplus notes	$1,588	$1,675

1993 Surplus Notes:

In December 1993, the Company issued Contribution Certificates, also referred to as surplus notes (1993 Surplus Notes) in the principal amount of $150 million for net cash proceeds of approximately $147.4 million at an interest rate of 7.90% maturing in December 2023. Interest is payable semiannually on June 30 and December 30. Total interest and principal paid on a cumulative basis was $341 million and $16 million, respectively, as of December 31, 2022. Interest paid on the 1993 Surplus Notes amounted to $11 million for the years ended December 31, 2022, 2021 and 2020, and is included in net investment income. There was no principal paid during the years ended December 31, 2022, 2021 and 2020. The Company had entered into interest rate swaps converting these surplus notes to variable rate notes based upon the London Interbank Offered Rate (LIBOR). During the year ended December 31, 2011, the interest rate swaps were terminated. Deferred gains related to the termination of the interest rate swaps were recorded directly to surplus in other surplus adjustments and are amortized as a reduction of interest expense over the life of the surplus notes using the effective interest method. As of December 31, 2022, total unamortized gains were $5 million. Amortization totaled $5 million for the years ended December 31, 2022, 2021 and 2020, respectively.

The 1993 Surplus Notes were issued pursuant to Rule 144A under the Securities Act of 1933, underwritten by Merrill Lynch & Co., Goldman Sachs & Co., and J.P. Morgan Securities, Inc., and are administered by JPMorgan Chase Bank. The 1993 Surplus Notes may not be redeemed at the option of the Company or any holder of the 1993 Surplus Notes. The 1993 Surplus Notes are unsecured and subordinated to all present and future senior indebtedness and policy claims of the Company. Each payment of interest on and the repayment of principal of the 1993 Surplus Notes may be made only out of the Company’s surplus and with the prior approval of the Director of the NE DOI. The 1993 Surplus Notes are held by bank custodians for unaffiliated investors and may hold 10% or more of the outstanding notes at any time.

In October 2017, with the approval of the Director of the NE DOI, the Company pursuant to a tender offer repurchased and retired $16 million of the 1993 Surplus Notes. A tender offer premium payment of $4 million was recorded in interest expense and reported through net investment income. Partially offsetting the interest expense was $3 million from the amortization from surplus of deferred derivative gains which were recorded following the 2011 termination of interest rate swaps, and was also recorded through net investment income.

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2009 Surplus Notes:

In June 2009, the Company issued $1 billion of surplus notes at a fixed interest rate of 9.25%, maturing in June 2039 (2009 Surplus Notes). Interest is payable semiannually on June 15 and December 15. Total interest and principal paid on a cumulative basis was and $1.0 billion and $700 million, respectively, as of December 31, 2022. Interest paid on the 2009 Surplus Notes amounted to $63 million, $36 million and $36 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in net investment income. During the year ended December 31, 2022, $85 million of principal was paid. There was no principal paid during the years ended December 31, 2021 and 2020. The Company may redeem all or a portion of the 2009 Surplus Notes at its option, subject to the prior approval of the Director of the NE DOI for such optional redemption. The 2009 Surplus Notes are unsecured and subordinated to all present and future senior indebtedness and policy claims of the Company. Each payment of interest on and the repayment of principal of the 2009 Surplus Notes may be made only out of the Company’s surplus and with the prior approval of the Director of the NE DOI. The Company had entered into interest rate swaps converting these surplus notes to variable rate notes based upon the LIBOR. During the year ended December 31, 2011, the interest rate swaps were terminated. Deferred gains related to the termination of the interest rate swaps were recorded directly to surplus in other surplus adjustments and are amortized as a reduction of interest expense over the life of the surplus notes using the effective interest method. As of December 31, 2022, total unamortized gains were $86 million. Amortization totaled $3 million for each of the years ended December 31, 2022, 2021 and 2020.

The 2009 Surplus Notes were issued pursuant to Rule 144A under the Securities Act of 1933, underwritten by Goldman Sachs & Co., UBS Investment Bank and Wachovia Securities. U.S. Bank has been appointed as fiscal agent to act as registrar, principal paying agent and transfer agent with respect to the 2009 Surplus Notes. The 2009 Surplus Notes are held by bank custodians for unaffiliated investors and may hold 10% or more of the outstanding notes at any time.

In January 2013, with the approval of the Director of the NE DOI, the Company pursuant to a tender offer repurchased and retired $323 million of the 2009 Surplus Notes. A tender offer premium payment of $155 million was recorded in interest expense and reported through net investment income. Partially offsetting the interest expense was $112 million from the amortization from surplus of deferred derivative gains which were recorded following the 2011 termination of interest rate swaps, and was also recorded through net investment income.

In February 2016, with the approval of the Director of the NE DOI, the Company repurchased and retired an additional $56 million of principal of its 2009 Surplus Notes. A premium payment of $24 million was recorded in interest expense and reported through net investment income. Partially offsetting the interest expense was $18 million from the amortization from surplus of deferred derivative gains which were recorded following the 2011 termination of interest rate swaps, and was also recorded through net investment income.

In October 2017, with the approval of the Director of the NE DOI, the Company pursuant to a tender offer repurchased and retired $236 million of the 2009 Surplus Notes. A tender offer premium payment of $166 million was recorded in interest expense and reported through net investment income. Partially offsetting the interest expense was $74 million from the amortization from surplus of deferred derivative gains which were recorded following the 2011 termination of interest rate swaps, and was also recorded through net investment income.

In September 2022, with the approval of the Director of the NE DOI, the Company repurchased and retired $85 million of the 2009 Surplus Notes.

2013 Surplus Note:

Concurrent with the repurchase of 2009 Surplus Notes in January 2013 discussed above and, with the approval of the Director of the NE DOI, the Company issued a $500 million, 30-year surplus note to its parent, Pacific LifeCorp, at a fixed interest rate of 5.125%, with semi-annual interest payments due January 25 and July 25, maturing in January 2043 (2013 Surplus Note). Each payment of interest on and the repayment of principal of the 2013 Surplus Notes may be made only out of the Company’s surplus and with the prior approval of the Director of the NE DOI. The 2013 Surplus Note is unsecured and subordinated to all present and future senior indebtedness and policy claims of the Company. Total interest and principal paid on a cumulative basis was $220 million and $90 million, respectively, as of December 31, 2022. Interest paid on the 2013 Surplus Note amounted to $20 million, $21 million and $21 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in net investment income. There was no principal paid during the years ended December 31, 2022, 2021 and 2020.

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In October 2017, with the approval of the Director of the NE DOI, the Company repurchased and retired $90 million of the 2013 Surplus Note.

2017 Surplus Notes:

In October 2017, with the approval of the Director of the NE DOI, the Company issued $750 million of 4.3% surplus notes maturing in October 2067 (2017 Surplus Notes). The 2017 Surplus Notes accrue interest at a fixed rate of 4.3% through October 23, 2047, and thereafter until maturity at a floating rate equal to the three-month LIBOR for deposits in U.S. dollars plus 2.796%. The loan agreement contains fallback language in the event LIBOR becomes unavailable. Interest is payable semiannually on April 24 and October 24 until and including October of 2047, and thereafter quarterly on January 24, April 24, July 24 and October 24 of each year, commencing on January 24, 2048.

The 2017 Surplus Notes were issued pursuant to Rule 144A under the Securities Act of 1933, underwritten by Barclays, Citigroup, Credit Suisse, Wells Fargo Securities, and Goldman Sachs & Co. LLC. The Company may redeem all or a portion of the 2017 Surplus Notes at its option any time on or after October 2047 at the redemption price described under the terms of the 2017 Surplus Notes subject to the prior approval of the Director of the NE DOI for such optional redemption. Each payment of interest on and the repayment of principal of the 2017 Surplus Notes may be made only out of the Company’s surplus and with the prior approval of the Director of the NE DOI. The 2017 Surplus Notes are held by bank custodians for unaffiliated investors and may hold 10% or more of the outstanding notes at any time. The 2017 Surplus Notes are unsecured and subordinated to all present and future senior indebtedness and policy claims of the Company. Total interest and principal paid on a cumulative basis was and $161 million and zero, respectively, as of December 31, 2022. Interest paid on the 2017 Surplus Notes amounted to $32 million for each of the years ended December 31, 2022, 2021 and 2020 and is included in net investment income. There was no principal paid during the years ended December 31, 2022, 2021 and 2020.

9.

REINSURANCE

The Company has reinsurance contracts with other insurance companies and affiliates to limit potential losses, reduce exposure from larger mortality risks and provide additional capacity for growth. As part of its risk management process, the Company routinely evaluates its reinsurance programs and may change retention limits, reinsurers or other features at any time.

The ceding of risk does not discharge the Company from its primary obligations to contract owners. To the extent that the assuming companies become unable to meet their obligations under reinsurance contracts, the Company remains liable. Each reinsurer is reviewed to evaluate its financial stability before entering into each reinsurance contract and throughout the period that the reinsurance contract is in place.

Reserve adjustments on reinsurance ceded in the statements of operations - statutory basis relate to amounts ceded by the Company in connection with modified coinsurance reinsurance agreements. The amounts included in revenue adjustments on reinsurance ceded primarily represent ceded current and future policy benefits, net investment income and net realized capital gains (losses) less tax, related to these agreements.

All assets associated with business reinsured on a modified coinsurance basis remain with, and under the control of, the Company.

For the years ended December 31, 2022, 2021 and 2020, premiums assumed were $1.2 billion, $2.5 billion and $0.9 billion, and premiums ceded were $2.6 billion, $1.8 billion and $1.2 billion, respectively. As of December 31, 2022 and 2021, reserve credits recorded on ceded reinsurance were $5.7 billion and $4.2 billion, respectively.

Amounts recoverable from reinsurers on paid losses, included in other assets, were $194 million and $356 million as of December 31, 2022 and 2021, respectively. Reinsurance recoveries for unpaid losses, included in other liabilities, totaled $387 million and $355 million as of December 31, 2022 and 2021, respectively.

The Company has assumed and ceded reinsurance contracts in place with a reinsurer whose financial stability has deteriorated. In March 2019, the reinsurer’s domiciliary state regulator issued a rehabilitation and injunction order, in which the regulator shall conduct and continue business of the reinsurer. The Company recorded an immaterial impairment in the year 2020 and 2021, and the Company does not expect the financial deterioration of the reinsurer to have a material adverse effect on the Company’s financial statements - statutory basis as of December 31, 2022.

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As part of a strategic alliance, the Company reinsures risks associated with policies written by an independent producer group primarily through modified coinsurance arrangements with this producer group’s reinsurance company. Premiums ceded to this producer group amounted to $423 million, $371 million and $274 million for the years ended December 31, 2022, 2021 and 2020, respectively. Direct premiums written or produced by this producer group amounted to $319 million, $146 million and $90 million for the years ended December 31, 2022, 2021 and 2020, respectively.

The estimated amount of the aggregate reduction in surplus of termination of all reinsurance agreements, by either party, was $2.7 billion and $2.5 billion as of December 31, 2022 and 2021, respectively. The amount of reinsurance credits taken for an amended existing agreement, which included policies or contracts that were in force or which had existing reserves established by the Company, was zero as of December 31, 2022.

CEDED AFFILIATED REINSURANCE

The Company cedes certain statutory reserves to affiliated special purpose financial insurance companies and affiliated captive reinsurance companies that are supported by a combination of cash, invested and other assets and third-party excess of loss reinsurance agreement or note facilities. As of December 31, 2022, the Company’s total statutory reserve credit was $3.4 billion, which was partially supported by third-party excess of loss reinsurance agreement and note facilities. As of December 31, 2021, the Company’s total statutory reserve credit was $3.1 billion, which was partially supported by third-party excess of loss reinsurance agreement and note facilities.

The Company utilizes affiliated reinsurers to mitigate the statutory capital impact of NAIC Model Regulation “Valuation of Life Insurance Polices” (Regulation XXX) and NAIC Actuarial Guideline 38 on the Company’s universal life products with flexible duration no lapse guarantee rider (FDNLGR) benefits. PAR Vermont and PBRC are Vermont based special purpose financial insurance companies subject to regulatory supervision by the Vermont Department of Financial Regulation (Vermont Department). PAR Vermont and PBRC are wholly-owned subsidiaries of the Company and accredited authorized reinsurers in Nebraska. The Company cedes certain level term life insurance to PBRC and FDNLGR benefits to PAR Vermont and PBRC. Economic reserves, as defined in the PAR Vermont and PBRC reinsurance agreements, are supported by cash and invested and other assets, including funds withheld at the Company.

The Company has reinsurance agreements with RGBM, a wholly-owned, indirect subsidiary of Pacific LifeCorp domiciled in Bermuda, through which the Company retrocedes statutory reserves for a majority of the underlying Yearly Renewable Term (YRT) treaties on a 100% coinsurance with funds withheld basis to RGBM. On July 16, 2021, the reinsurance agreement with RGBM was modified from a 100% coinsurance with funds withheld to a 100% coinsurance agreement.

The Company has assumed reinsurance agreements with affiliated reinsurer PLRL through which the Company provides two longevity reinsurance solutions associated with individual annuities and pension schemes. Reserves assumed through this agreement totaled $2.1 billion as of December 31, 2022.

The Company executed a single reinsurance agreement subject to the requirements of NAIC Actuarial Guideline 48. The reinsurance agreement with PBRC was effective January 1, 2015 and covers certain level term insurance policies and the FDNLGR benefits on certain covered policies issued from January 1, 2015 through December 31, 2019. For this reinsurance agreement, funds consisting of certain defined assets (Primary Security) in an amount at least equal to the minimum amount required of Primary Security are held by the Company as security under the reinsurance agreement on a funds withheld basis. Funds consisting of other security in an amount at least equal to the portion of the statutory reserves, as to which Primary Security is not held, are held in a trust on behalf of the Company as security under the reinsurance agreement. As of December 31, 2022 and 2021, the Company did not have any non-zero Primary Security Shortfalls.

The Company has policies issued that have been reinsured by Union Hamilton Reinsurance, Ltd., which is chartered in a country other than the U.S. that is owned in excess of 10% by a person not primarily engaged in the insurance business. Union Hamilton Reinsurance, Ltd., a Bermuda based subsidiary, which is wholly-owned by Wells Fargo & Company, provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services.

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10.	EMPLOYEE BENEFIT PLANS

The Company maintains a Supplemental Executive Retirement Plan (SERP) for certain eligible employees. The SERP is a non- qualified defined benefit plan. As of December 31, 2022 and 2021, the benefit obligation and total liability recognized were $80 million and $81 million, respectively. The accrued benefit costs were $62 million and $59 million and the liability for pension benefits were $18 million and $22 million as of December 31, 2022 and 2021, respectively. The fair value of plan assets as of December 31, 2022 and 2021 was zero.

POSTRETIREMENT BENEFITS

The Company provides a postretirement health care reimbursement plan (the Plan) that provides benefits for eligible retirees and their dependents. As of December 31, 2022 and 2021, the benefit obligation and total liability recognized were $4 million and $6 million, respectively. The accrued benefit costs were $6 million and $6 million and the liability for pension benefits were ($2) million and zero as of December 31, 2022 and 2021, respectively. The fair value of the plan assets as of December 31, 2022 and 2021 was zero. The Company reserves the right to modify or terminate the Plan at any time. As in the past, the general policy is to fund these benefits on a pay-as-you-go basis.

The following is a summary of pension and postretirement benefits as of December 31, 2022 and 2021:

	Pension Benefit				Postretirement Benefits
	December 31,				December 31,
	2022		2021		2022		2021
	(In Millions)
Change in benefit obligation - underfunded:
Benefit obligation, beginning of year	$81		$78		$6		$7
Service cost	5		4
Interest cost	2		2
Actuarial gains and losses	(3	)	5		(3	)	(1	)
Benefits paid	(5	)	(2	)
Business combinations, divestitures, settlements and special termination benefits			(6	)
Benefit obligation, end of year	$80		$81		$3		$6

	Pension Benefit			Postretirement Benefits
	Years Ended December 31,			Years Ended December 31,
	2022	2021	2020	2022	2021	2020
	(In Millions)
Components of net periodic benefit cost:
Service cost	$5	$4	$4
Interest cost	2	2	2
Gains and losses	1	1	2
Prior service cost or credit
Gain or loss recognized due to a settlement or curtailment		2
Total net periodic benefit cost	$8	$9	$8	$—	$—	$—

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	Pension Benefit				Postretirement Benefits
	December 31,				December 31,
	2022		2021		2022		2021
	(In Millions)
Amounts in unassigned fund (surplus) recognized as components of net periodic benefit costs:
Items not yet recognized as a component of net periodic cost - prior year	$22		$20				$1
Net prior service cost or credit recognized or arising during the period	(1	)
Net gain or loss arising during the period	(2	)	5		($2	)	(1	)
Net gain or loss recognized	(1	)	(3	)
Items not yet recognized as a component of net periodic cost - current year	$18		$22		($2	)	$—

Amounts in unassigned funds (surplus) that have not yet been recognized as components of net periodic benefit cost:
Net prior service cost	$1		$1
Net recognized gains or losses	$17		$21		($2	)	$—

Weighted average assumptions are as follows:

	Pension Benefit									Postretirement Benefits
	Years Ended December 31,									Years Ended December 31,
Net Periodic Benefit Costs:	2022			2021			2020			2022			2021			2020
Weighted average discount rate		2.55	%		2.05	%		2.90	%		2.60	%		2.25	%		3.05	%
Interest crediting rates /Pre-1994 RRA subsidy increase (for cash balance plan and other plans with promised interest crediting rates)		2.75	%		2.40	%		3.10	%		3.50	%		3.50	%		5.00	%

	December 31,									December 31,
		2022			2021						2022			2021
Projected Benefit Obligations:
Weighted average discount rate		5.30	%		2.55	%					5.30	%		2.60	%
Interest crediting rates/Pre-1994 RRA subsidy increase (for cash balance plan and other plans with promised interest crediting rates)		5.00	%		2.75	%					3.50	%		3.50	%

The Company does not have any regulatory contribution requirements for 2022. The Company expects to contribute $7 million in 2023 for the pension plans and $1 million for the postretirement plans. The following estimated future payments, which reflect expected future service, as appropriate, are expected to be paid for the years ending December 31 (In Millions):

2023		2024		2025		2026		2027		2028 through 2032
$7		$8		$9		$9		$9		$45		2023

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RETIREMENT INCENTIVE SAVINGS PLAN

The Company provides a Retirement Incentive Savings Plan (RISP) covering all eligible employees. The Company’s RISP matches 75% of each employee’s contribution, up to a maximum of 6% of eligible employee compensation. The Company’s match plus other contributions made by the Company to the RISP amounted to $47 million, $41 million and $44 million for the years ended December 31, 2022, 2021 and 2020, respectively.

OTHER PLANS

The Company has deferred compensation plans that permit eligible employees to defer portions of their compensation and earn interest on the deferred amounts. The interest rate is determined quarterly. The compensation that has been deferred has been accrued and the primary expense related to this plan, other than compensation, is interest on the deferred amounts. As of December 31, 2022 and 2021, the deferred amounts were $145 million and $137 million, respectively. The plan was credited $9 million, $6 million and $7 million for the years ended December 31, 2022, 2021 and 2020, respectively.

11.	RESERVES FOR LIFE CONTRACTS AND ANNUITY CONTRACTS AND CHANGE IN INCURRED LOSSES AND LOSS ADJUSTMENT EXPENSES

For whole life and term life policies with flat extra premium, the reserve consists of the regular standard reserve plus 50% of such extra premium. For whole life policies with a substandard rating, the reserve consists of the regular standard reserve plus an extra reserve based on an appropriate multiple of the valuation mortality table. For other policies with a substandard rating or flat extra, mean reserves are based on an appropriate multiple of or addition to the valuation mortality table.

As of December 31, 2022 and 2021, the Company had $18.0 billion and $20.3 billion, respectively, of insurance in force for which gross premiums are less than the net premiums according to the valuation standard set by the State of Nebraska.

For traditional policies, tabular interest, tabular less actual reserve released, and tabular cost have been determined by formula as described by the NAIC instructions. For non-traditional universal life type policies, the tabular interest and tabular cost are based on the actual interest credited to and monthly deductions from the policies. For some deferred annuity policies and some immediate payout policies, tabular interest was calculated using basic data.

The tabular interest on deposit funds not involving life contingencies has been determined from actual interest credited to deposits.

The components for other reserve changes are as follows:

	Ordinary			Group			Ordinary			Group
	Life Insurance	Individual Annuities		Annuities		Total	Life Insurance	Individual Annuities		Annuities	Total
	December 31,
	2022						2021
	(In Millions)
Includes the change of separate account fair value, surrender or alternative comparison values, partial withdrawals, changes in deficiency reserves, change in CRVM expense allowances and changes in additional actuarial reserves for AGXXXVIII	$270	($27	)	($166	)	$77	$334	($3	)		$331

As of December 31, 2022 and 2021, there were $15 million and $16 million, respectively, in aggregate reserves for accident and health contracts. There were no significant changes in methodology or assumptions of the reserves during the years ended December 31, 2022, 2021 and 2020.

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12.	ANALYSIS OF ANNUITY ACTUARIAL RESERVES AND DEPOSIT TYPE CONTRACT LIABILITIES BY WITHDRAWAL CHARACTERISTICS

The tables below describe withdrawal characteristics of individual annuities, group annuities and deposit-type contracts:

Individual Annuities:	December 31, 2022
	General Account	Separate Account Nonguaranteed		Total	% of Total
	($ In Millions)
Subject to discretionary withdrawal:
With market value adjustment	$15,802			$15,802	20	%
At book value less current surrender charge of 5% or more ⁽¹⁾	1,510			1,510	2	%
At fair value			$43,884	43,884	56	%
Total with market value adjustment or at fair value	17,312		43,884	61,196	78	%
At book value without adjustment	10,582			10,582	13	%
Not subject to discretionary withdrawal	6,856		2	6,858	9	%
Total (gross: direct + assumed)	34,750		43,886	78,636	100	%
Reinsurance ceded	1,572			1,572
Total (net)	$33,178		$43,886	$77,064

Amount included at book value less current surrender charge of 5% or more that will move to at book value without adjustment for the first time within the year after the statement date:	$787			$787

⁽¹⁾Withdrawal characteristic categories were evaluated using effective surrender charge rates, where applicable.

Group Annuities:	December 31, 2022
	General Account	Separate Account With Guarantees	Total	% of Total
	($ In Millions)
Subject to discretionary withdrawal:
With market value adjustment	$1		$1
Not subject to discretionary withdrawal	7,483	$4,364	11,847	100	%
Total (gross: direct + assumed)	7,484	4,364	11,848	100	%
Reinsurance ceded
Total (net)	$7,484	$4,364	$11,848

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Deposit-type Contracts:	December 31, 2022
	General Account	Separate Account Nonguaranteed	Total	% of Total
	($ In Millions)
Subject to discretionary withdrawal:
With market value adjustment	$129		$129	1	%
At fair value		$5	5
Total with market value adjustment or at fair value	129	5	134	1	%
At book value without adjustment	3,588		3,588	19	%
Not subject to discretionary withdrawal	14,868		14,868	80	%
Total (gross: direct + assumed)	18,585	5	18,590	100	%
Reinsurance ceded
Total (net)	$18,585	$5	$18,590

Total Individual and Group Annuities and Deposit-type Contracts:	December 31, 2022
	General Account	Separate Account With Guarantees		Separate Account Nonguaranteed	Total	% of Total
	($ In Millions)
Subject to discretionary withdrawal:
With market value adjustment	$15,932				$15,932	15	%
At book value less current surrender charge of 5% or more ⁽¹⁾	1,510				1,510	1	%
At fair value				$43,889	43,889	40	%
Total with market value adjustment or at fair value	17,442			43,889	61,331	56	%
At book value without adjustment	14,170				14,170	13	%
Not subject to discretionary withdrawal	29,207		$4,364	2	33,573	31	%
Total (gross: direct + assumed)	60,819		4,364	43,891	109,074	100	%
Reinsurance ceded	1,572				1,572
Total (net)	$59,247		$4,364	$43,891	$107,502

62

Total Individual and Group Annuities and Deposit-type Contracts:	December 31, 2021
	General Account	Separate Account With Guarantees		Separate Account Nonguaranteed	Total	% of Total
	($ In Millions)
Subject to discretionary withdrawal:
With market value adjustment	$15,349				$15,349	14	%
At book value less current surrender charge of 5% or more ⁽¹⁾	2,333				2,333	2	%
At fair value				$55,421	55,421	52	%
Total with market value adjustment or at fair value	17,682			55,421	73,103	68	%
At book value without adjustment	8,901				8,901	8	%
Not subject to discretionary withdrawal	23,106		$2,798	2	25,906	24	%
Total (gross: direct + assumed)	49,689		2,798	55,423	107,910	100	%
Reinsurance ceded	342				342
Total (net)	$49,347		$2,798	$55,423	$107,568

⁽¹⁾Withdrawal characteristic categories were evaluated using effective surrender charge rates, where applicable.

The following information is obtained from the applicable exhibit in the Company’s Annual Statement and related Separate Accounts Annual Statement, both of which are filed with the NE DOI, and are provided to reconcile annuity reserves and deposit- type contract funds and other liabilities without life or disability contingencies to amounts reported in the Annual Statement:

	December 31,
	2022		2021
	(In Millions)
Annual Statement:
Annuities		$40,659		$38,146
Supplementary contracts with life contingencies		3		3
Deposit-type contracts and funding agreements		18,585		11,198
Subtotal		59,247		49,347

Separate Accounts Annual Statement:
Annuities		48,251		58,216
Other contract deposit funds		4		5
Subtotal		48,255		58,221

Combined total		$107,502		$107,568

63

13.	ANALYSIS OF LIFE ACTUARIAL RESERVES BY WITHDRAWAL CHARACTERISTICS

The tables below describe withdrawal characteristics of life actuarial reserves as of December 31, 2022 and 2021:

December 31, 2022	General Account						Separate Account - Nonguaranteed
	Account Value		Cash Value		Reserve		Account Value		Cash Value		Reserve

	(In Millions)
Subject to discretionary withdrawal, surrender values, or contract loans:
Universal life		$2,758		$3,242		$3,327
Universal life with secondary guarantees		5,548		5,516		8,418
Indexed universal life		71		42		46
Indexed universal life with secondary guarantees		14,376		13,675		14,214
Other permanent cash value life insurance		9,932		10,693		11,034
Variable universal life		3,752		3,728		3,858		$9,815		$9,678		$9,671
Miscellaneous reserves		2		2		7

Not subject to discretionary withdrawal or no cash values:
Term policies without cash value						1,116
Disability - active lives ⁽¹⁾						10
Disability - disabled lives						14
Miscellaneous reserves						879
Total (direct + assumed)		36,439		36,898		42,923		9,815		9,678		9,671
Reinsurance ceded						4,140
Total (net)		$36,439		$36,898		$38,783		$9,815		$9,678		$9,671

⁽¹⁾Certain disability - active lives were reported in the first section instead of the Disability - active lives row in the second section since they are subject to discretionary withdrawal.

64

December 31, 2021	General Account						Separate Account - Nonguaranteed
	Account Value		Cash Value		Reserve		Account Value		Cash Value		Reserve

	(In Millions)
Subject to discretionary withdrawal, surrender values, or contract loans:
Universal life		$2,803		$3,288		$3,363
Universal life with secondary guarantees		5,541		5,511		8,241
Indexed universal life		4		4		4
Indexed universal life with secondary guarantees		13,813		12,222		13,495
Other permanent cash value life insurance		9,976		10,697		11,023
Variable universal life		3,707		3,672		3,775		$11,469		$11,354		$11,348
Miscellaneous reserves		2		2		7

Not subject to discretionary withdrawal or no cash values:
Term policies without cash value						956
Disability - active lives ⁽¹⁾						7
Disability - disabled lives						13
Miscellaneous reserves						874
Total (direct + assumed)		35,846		35,396		41,758		11,469		11,354		11,348
Reinsurance ceded						3,894
Total (net)		$35,846		$35,396		$37,864		$11,469		$11,354		$11,348

⁽¹⁾Certain disability - active lives were reported in the first section instead of the Disability - active lives row in the second section since they are subject to discretionary withdrawal.

The table below describes the total withdrawal characteristics of life actuarial reserves for life and accident and health and separate accounts annual statements.

	December 31,
	2022		2021
Annual Statement:	(In Millions)
Life insurance section		$37,723		$36,896
Disability - active lives section		624		585
Disability - disabled lives section		10		10
Miscellaneous reserves section		426		373
Subtotal		38,783		37,864

Separate Accounts Annual Statement:
Life insurance section		9,671		11,348
Combined total		$48,454		$49,212

65

14.	PREMIUM AND ANNUITY CONSIDERATIONS DEFERRED AND UNCOLLECTED

Deferred and uncollected life insurance premiums and annuity considerations are as follows:

	December 31, 2022					December 31, 2021
	Gross		Net of Loading			Gross			Net of Loading
			(In Millions)
Ordinary new business		$2		($17	)		($8	)		($25	)
Ordinary renewal		171		168			131			129
Group annuity		42		42			52			52
Total		$215		$193			$175			$156

15.	ELECTRONIC DATA PROCESSING EQUIPMENT AND SOFTWARE

Electronic data processing (EDP) equipment and non-operating software are carried at cost less accumulated depreciation and are included in other assets. The net amount of all non-operating software is nonadmitted. Depreciation expense is computed using the straight-line method over the lesser of the estimated useful life or three years for EDP equipment and five years for non- operating software. Costs incurred for the development of internal use non-operating software are capitalized and amortized using the straight-line method over the lesser of the estimated useful life or five years. Depreciation expense related to EDP equipment and non-operating software amounted to $24 million, $22 million and $23 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Net admitted EDP equipment and non-operating software consist of the following:

	December 31,
	2022		2021
	(In Millions)
EDP equipment		$38		$42
Non-operating system software		298		278
Total		336		320
Accumulated depreciation		231		226
Net		105		94
Nonadmitted		94		89
Net admitted		$11		$5

16.	SEPARATE ACCOUNTS

The Company utilizes Separate Accounts to record and account for assets and liabilities related to variable annuities, variable universal life and group annuities. The liabilities consist of reserves established to meet withdrawal and future benefit payment contractual provisions. Investment risk associated with market value changes are generally borne by the contract holders, except to the extent of the minimum guarantees made by the Company with respect to certain Separate Accounts.

In accordance with the products recorded within the Separate Accounts, some assets are considered legally insulated whereas others are not legally insulated from the General Account. The legal insulation of the separate account assets prevents such assets from being generally available to satisfy claims resulting from the General Account.

66

As of December 31, 2022 and 2021, the Company’s Separate Accounts Annual Statement included legally insulated assets of $58.6 billion and $70.4 billion, respectively. The assets legally insulated and not legally insulated from the general account as of December 31, 2022 are attributed to the following products (In Millions):

Product	Separate Account Assets Legally Insulated		Separate Account Assets Not Legally Insulated
Variable annuities		$44,764
Variable universal life		9,820
Group annuities		4,052
Total		$58,636		$—

In accordance with the products recorded within the Separate Account, some separate account liabilities are guaranteed by the General Account. In accordance with guarantees provided, if the investment proceeds are insufficient to cover the rate of return guaranteed for the product, the policyholder proceeds will be remitted by the General Account.

To compensate the General Account for the risk taken, the Separate Account paid risk charges as follows for the years ended December 31, 2022, 2021, 2020, 2019, and 2018 of $352 million, $347 million, $300 million, $293 million, and $303 million, respectively.

For the years ended December 31, 2022, 2021 and 2020, the General Account of the Company had paid $35 million, $10 million and $15 million, respectively, toward the Separate Account guarantees.

The Company does not engage in securities lending transactions within the Separate Account.

The Company has Separate Accounts with guarantees comprised of the group annuities business where the General Account guarantees annuity payments if the Separate Accounts is unable to do so. Assets of the group annuities business are carried at amortized cost and the Company establishes an AVR as required. The Company’s Separate Accounts without guarantees consist of the variable annuities and variable universal life businesses where the assets of these accounts are carried at fair value.

For the assets not measured at fair value, the following table shows the comparison of the amortized cost to the fair value and the unrealized gain (loss) that would have been recorded if the assets had been reported at fair value (In Millions):

December 31, 2022				December 31, 2021
Assets Held At Amortized Cost	Fair Value	Unrecorded Unrealized Gain (Loss)		Assets Held At Amortized Cost	Fair Value	Unrecorded Unrealized Gain (Loss)
(In Millions)
$4,052	$3,428	($624	)	$2,670	$2,687	$17

67

Information regarding the separate accounts is as follows:

Separate Accounts with
Guarantees

Nonindexed Guarantee

4% or
Less

More than
4%

Without
Guarantees

Total

4% or
Less

More than
4%

Without
Guarantees

Total

Years Ended December 31,

2022

2021

(In Millions)

Premiums, considerations or deposits

$632

$885

$3,991

$5,508

$1,156

$5,783

$6,939

	December 31,
	2022				2021
Reserves for accounts with assets at:	(In Millions)
Fair value			$53,562	$53,562		$66,770	$66,770
Amortized cost	$3,394	$970		4,364	$2,798		2,798
Total reserves	$3,394	$970	$53,562	$57,926	$2,798	$66,770	$69,568

Reserves by withdrawal characteristics:
Subject to discretionary withdrawal at fair value			$53,560	$53,560		$66,768	$66,768
Not subject to discretionary withdrawal	$3,394	$970	2	4,366	$2,798	2	2,800
Total	$3,394	$970	$53,562	$57,926	$2,798	$66,770	$69,568

	Years Ended December 31,
	2022	2021	2020
	(In Millions)
Transfers as reported in the summary of operations - statutory basis of the Separate Accounts Annual Statement:
Transfers to separate accounts	$5,507	$6,937	$5,337
Transfers from separate accounts	5,307	6,593	5,432
Net transfers from separate accounts	200	344	(95)
Reconciling adjustments:
Net lag loss for annuities in general account only	(1)	(1)
Transfers as reported in current and future policy benefits in the accompanying statements of operations - statutory basis	$199	$343	($95)

17.

COMMITMENTS AND CONTINGENCIES

As of December 31, 2022, the Company had $230 million of outstanding mortgage loan commitments in the General Account which were primarily advances available for construction loans. Construction loan advances are made during the term of the construction loan as the borrower meets certain loan advance requirements.

As of December 31, 2022, the Company had $5.3 billion of commitments to fund investments in SCA entities, joint ventures, partnerships and limited liability companies.

68

As of December 31, 2022, the Company had $823 million and zero of outstanding contractual obligations to acquire private placement securities for the General Account and Separate Account, respectively.

The Company has an agreement with PL&A to lend up to $100 million at a variable interest rate. The Company also has an intercompany uncommitted revolving credit facility with affiliates to lend or borrow funds. Under the agreement, the Company can lend or borrow up to 3% of the Company’s admitted assets to certain affiliates as of the preceding December 31. The aggregate total borrowing of all outstanding loans is limited to $1.0 billion including any outstanding loans under other affiliate lending agreements. There were no borrowings outstanding under the facility as of December 31, 2022 and 2021.

In connection with the operations of certain subsidiaries, the Company has made commitments to provide for additional capital funding as may be required.

In connection with the operations of PSD, the Company has made a commitment to provide for additional capital funding as may be required. The Company made capital contributions to PSD of $19 million, $19 million and $15 million for the years ended December 31, 2022, 2021 and 2020, respectively. In connection with the operations of PLFA, the Company and PL&A are obligated to contribute additional capital funding as may be required according to their respective membership percentages. There were no capital contributions to PLFA for the years ended December 31, 2022, 2021 and 2020.

The Company has operating leases for office space and equipment of its primary operating centers in Newport Beach, California, Omaha, Nebraska and for its various field offices, which in most, but not all cases, are noncancelable. Rental expense, which is included in operating expenses, in connection with these leases was $12 million, $12 million and $10 million for the years ended December 31, 2022, 2021 and 2020, respectively. Aggregate minimum future commitments are as follows (In Millions):

Year Ending December 31:
2023	$11
2024	12
2025	11
2026	7
2027 and thereafter	12
Total	$53

Certain rental commitments have renewal options extending through the year 2028. Some of these renewals are subject to adjustments in future periods.

The Company entered into agreements with Pacific Life Re Limited (PLRL), Pacific Life Re (Australia) Pty Limited (PLRA), RIBM and Pacific Life Re Global Limited (RGBM), all such entities being wholly-owned indirect subsidiaries of Pacific LifeCorp, to guarantee the performance of reinsurance obligations of PLRL, PLRA, RIBM and RGBM, respectively. The guarantees for PLRL, PLRA and RIBM are secondary to the guarantees provided by Pacific LifeCorp and would only be triggered in the event of nonperformance by PLRL, PLRA or RIBM and Pacific LifeCorp. PLRL, PLRA, RIBM and RGBM each pay the Company a fee for their respective guarantees. Management believes that additional obligations, if any, related to the guarantee agreements are not likely to have a material adverse impact on the Company’s financial statements - statutory basis.

The Company’s guarantee to provide funds on Pacific LifeCorp’s behalf of up to 165 million pounds sterling to PLRL in the event of nonperformance of a contingent capital commitment between Pacific LifeCorp and PLRL was terminated on January 1, 2022.

CONTINGENCIES - LITIGATION

The Company is a respondent in a number of legal proceedings, some of which involve allegations for extra-contractual damages. Although the Company is confident of its position in these matters, success is not a certainty and a judge or jury could rule against the Company. In the opinion of management, the outcome of such proceedings is not likely to have a material adverse effect on the Company’s financial statements - statutory basis. The Company believes adequate provision has been made in its financial statements - statutory basis for all probable and reasonably estimable losses for litigation claims against the Company.

69

CONTINGENCIES - IRS REVENUE RULING

In 2007, the IRS issued Rev. Rul. 2007-54, interpreting then-current tax law regarding the computation of the dividend received deduction (DRD). Later in 2007, the IRS issued Revenue Ruling 2007-61, suspending Rev. Rul. 2007-54 and indicating that the IRS would re-address this issue in a future regulation project. In 2014, the IRS issued Rev. Rul. 2014-7, stating that it would not address this issue through regulation, but instead would defer to legislative action. Rev. Rul. 2014-7 also expressly superseded Rev. Rul. 2007-54, and declared Rev. Rul. 2007-61 obsolete. With the enactment the Act on December 22, 2017, DRD computations have been modified effective January 1, 2018. Therefore, the Company does not expect that any of the rulings described above will affect DRD computations in the future. However, in open tax years before 2018, the Company could still lose a substantial portion of its DRD claims, which could in turn have a material adverse effect on the Company’s financial statements - statutory basis.

CONTINGENCIES - OTHER

In the course of its business, the Company provides certain indemnifications related to dispositions, acquisitions, investments, lease agreements or other transactions that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company. These obligations are typically subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation. Because the amounts of these types of indemnifications often are not explicitly stated, the overall maximum amount of the obligation under such indemnifications cannot be reasonably estimated. The Company has not historically made material payments for these types of indemnifications. The estimated maximum potential amount of future payments under these obligations is not determinable due to the lack of a stated maximum liability for certain matters, and therefore, the Company may record a contingent reserve for such matters. Management believes that judgments, if any, against the Company related to such matters are not likely to have a material adverse effect on the Company’s financial statements - statutory basis.

The Company issues synthetic guaranteed interest contracts to Employee Retirement Income Security Act of 1974 (ERISA) qualified defined contribution employee benefit plans and 529 plans. The plan uses the contract in its stable value fixed income option. The Company receives a fee for providing book value accounting for the plan’s stable value fixed income option. In the event that plan participant elections exceed the fair value of the assets or if the contract is terminated and at the end of the termination period the book value under the contract exceeds the fair value of the assets, then the Company is required to pay the plan the difference between book value and fair value. The Company mitigates the investment risk through pre-approval and compliance monitoring of the investment guidelines, and contractual provisions including the credited rate reset formula that reflects the actual investment and cash flow experience of the underlying plan.

The Company is required by law to participate in the guaranty associations of the various states in which it is licensed to do business. The state guaranty associations ensure payments of guaranteed benefits, with certain restrictions, to policyholders of impaired or insolvent insurance companies by assessing all other companies operating in similar lines of business. The Company has not received notification of any insolvency that is expected to result in a material guaranty fund assessment.

The Company has a liability for estimated guaranty fund assessments and a related premium tax asset. As of December 31, 2022 and 2021, the estimated liability was $2.1 million and $1.5 million, respectively. As of December 31, 2022 and 2021, the related premium tax receivable was $1.6 million and $1.3 million, respectively. These amounts represent management’s best estimate based on information received from the state in which the Company writes business and may change due to many factors including the Company’s share of the ultimate cost of current insolvencies. Future guaranty fund assessments are expected to be paid based on anticipated funding periods for each guaranty association obligation. Premium tax offsets are expected to be realized based on regulations set forth by various state taxing authorities.

See Note 5 for discussion of other contingencies related to derivative instruments.

See Note 6 for discussion of other contingencies related to income taxes.

See Note 9 for discussion of other contingencies related to reinsurance.

70

Pacific Life Insurance Company

S U P P L E M E N T A L S C H E D U L E O F S E L E C T E D F I N A N C I A L D A T A

A S O F A N D F O R T H E Y E A R E N D E D D E C E M B E R 3 1 , 2 0 2 2

(In Millions)


Investment Income Earned
U.S. Government bonds	$26
Bonds exempt from U.S. tax
Other bonds (unaffiliated)	2,797
Bonds of affiliates
Preferred stocks (unaffiliated)
Preferred stocks of affiliates
Common stocks (unaffiliated)	3
Common stocks of affiliates	3
Mortgage loans	864
Real estate	43
Contract loans	352
Cash, cash equivalents and short-term investments	15
Derivative instruments	(916)
Other invested assets	470
Aggregate write-ins for investment income	13
Gross Investment Income	$3,670

Real Estate Owned - Book Value Less Encumbrances	$153

Mortgage Loans - Book Value:
Farm mortgages	$995
Residential mortgages	236
Commercial mortgages	17,690
Mezzanine	107
Total Mortgage Loans	$19,028

Mortgage Loans By Standing - Book Value:
Good standing	$18,995
Good standing with restructured terms	$18
Interest overdue more than 90 days, not in foreclosure	$15
Foreclosure in process

Other Long-Term Assets - Carrying Value	$9,270
Bonds and Stocks of Parents, Subsidiaries and Affiliates - Carrying Value:
Bonds	$4
Preferred stocks
Common stocks	$1,018

71

Bonds and Short-Term Investments by NAIC Designation and Maturity:
Bonds by Maturity - Statement Value:
Due within one year or less	$3,524
Over 1 year through 5 years	25,701
Over 5 years through 10 years	23,039
Over 10 years through 20 years	9,318
Over 20 years	12,296
No maturity date
Total by Maturity	$73,878

Bonds by NAIC Designation - Statement Value:
NAIC 1	$31,539
NAIC 2	38,017
NAIC 3	3,478
NAIC 4	734
NAIC 5	84
NAIC 6	26
Total by NAIC Designation	$73,878

Total Bonds Publicly Traded	$34,335
Total Bonds Privately Traded	$39,543
Preferred Stocks - Statement Value	$4
Common Stocks - Unaffiliated - Fair Value	$65
Common Stocks - Affiliated - Fair Value	$130
Common Stocks - Subsidiaries - Statement Value	$888
Short-term Investments - Carrying Value	$33
Options, Caps & Floors Owned - Statement Value	$878
Options, Caps & Floors Written and In Force - Statement Value
Collar, Swap & Forward Agreements Open - Statement Value	($715)
Futures Contracts Open - Current Value	$52
Cash Equivalents	$665
Cash on Deposit	$190

Life Insurance In Force:
Industrial
Ordinary	$570,512
Credit Life
Group Life	$14

Amount of Accidental Death Insurance In Force Under Ordinary Policies	$48

Life Insurance Policies with Disability Provisions In Force:
Industrial
Ordinary	$15,598
Credit Life

72

Supplementary Contracts In Force:
Ordinary - Not Involving Life Contingencies
Amount on Deposit	$18
Income Payable	$1
Ordinary - Involving Life Contingencies
Income Payable
Group - Not Involving Life Contingencies
Amount on Deposit
Income Payable
Group - Involving Life Contingencies
Income Payable

Annuities:
Ordinary
Immediate - Amount of Income Payable	$1,016
Deferred - Fully Paid Account Balance	$25,920
Deferred - Not Fully Paid - Account Balance	$75

Group
Amount of Income Payable	$920
Fully Paid Account Balance
Not Fully Paid - Account Balance

Accident and Health Insurance - Premiums In Force:
Other	$2
Group
Credit

Deposit Funds and Dividend Accumulations:
Deposit Funds - Account Balance	$18,543
Dividend Accumulations - Account Balance	$24

73

Claim Payments 2022:
Group Accident and Health - Year Ended December 31, 2022
2022
2021
2020
2019
2018
Prior

Other Accident and Health
2022	$3
2021
2020
2019
2018
Prior

Other Coverages that Use Developmental Methods to Calculate Claim Reserves
2022
2021
2020
2019
2018
Prior

74

Pacific Life Insurance Company

S U P P L E M E N T A L S U M M A R Y I N V E S T M E N T S C H E D U L E

D E C E M B E R 3 1 , 2 0 2 2

($ In Millions)

	Gross Investment Holdings *		Admitted Assets as Reported in the Annual Statement
	Amount	Percentage	Amount	Securities Lending Reinvested Collateral Amount	Total	Percentage
Long-term bonds:
U.S. Governments	$813	0.695%	$813		$813	0.698%
All other governments	638	0.545%	638		638	0.548%
U.S. states, territories and possessions, etc. guaranteed	102	0.088%	102		102	0.088%
U.S. political subdivisions of states, territories, and possessions, guaranteed	221	0.189%	221		221	0.190%
U.S. special revenue and special assessment obligations, etc. non-guaranteed	2,344	2.004%	2,344		2,344	2.013%
Industrial and miscellaneous	67,915	58.056%	67,915		67,915	58.310%
Hybrid securities	33	0.028%	33		33	0.028%
Parent, subsidiaries and affiliates	4	0.003%	4		4	0.003%
Unaffiliated bank loans	1,775	1.516%	1,775		1,775	1.523%
Total long-term bonds	73,845	63.124%	73,845	—	73,845	63.401%

Preferred stocks:
Industrial and miscellaneous (unaffiliated)	4	0.003%	4		4	0.003%
Total preferred stocks	4	0.003%	4	—	4	0.003%

Common stocks:
Industrial and miscellaneous other (unaffiliated)	65	0.055%	65		65	0.055%
Parent, subsidiaries and affiliates publicly traded	128	0.109%	128		128	0.110%
Parent, subsidiaries and affiliates other	890	0.761%	476		476	0.409%
Total common stocks	1,083	0.925%	669	—	669	0.574%

(Continued)

*Gross Investment Holdings as valued in compliance with NAIC Accounting Practices and Procedures Manual.

75

	Gross Investment Holdings *		Admitted Assets as Reported in the Annual Statement
	Amount	Percentage	Amount	Securities Lending Reinvested Collateral Amount	Total	Percentage
Mortgage loans:
Farm mortgages	$995	0.851%	$995		$995	0.855%
Residential mortgages	236	0.201%	236		236	0.202%
Commercial mortgages	17,690	15.122%	17,690		17,690	15.188%
Mezzanine real estate loans	107	0.092%	107		107	0.092%
Total mortgage loans	19,028	16.266%	19,028	—	19,028	16.337%

Real estate:
Properties occupied by company	140	0.120%	140		140	0.120%
Properties held for production of income	13	0.011%	13		13	0.011%
Total real estate	153	0.131%	153	—	153	0.131%

Cash, cash equivalents, and short-term
investments:
Cash	190	0.162%	190		190	0.163%
Cash equivalents	665	0.569%	665	2,828	3,493	2.999%
Short-term investments	33	0.028%	33		33	0.028%
Total cash, cash equivalents, and short-term investments	888	0.759%	888	2,828	3,716	3.190%

Contract loans	7,597	6.495%	7,597		7,597	6.523%
Derivatives	1,434	1.226%	1,434		1,434	1.231%
Receivables for securities	76	0.063%	76		76	0.064%
Securities lending	2,828	2.417%	2,828
Other invested assets	10,050	8.591%	9,950		9,950	8.546%
Total invested assets	$116,983	100.000%	$116,472	$2,828	$116,472	100.000%

*Gross Investment Holdings as valued in compliance with NAIC Accounting Practices and Procedures Manual.

76

Pacific Life Insurance Company

S U P P L E M E N T A L S C H E D U L E O F I N V E S T M E N T R I S K I N T E R R O G A T O R I E S
D E C E M B E R 3 1 , 2 0 2 2

The Company’s total admitted assets, excluding separate accounts, as reported in the Statements of Admitted Assets, Liabilities and Capital and Surplus (Total Admitted Assets) was $120.2 billion as of December 31, 2022.

1.

The 10 largest exposures to a single issuer/borrower/investment as of December 31, 2022, are as follows:

		Percentage of Total
	(In Millions)	Admitted Assets
Commercial loan (Mortgage Loan)	$622	0.5%
Commercial loan (Mortgage Loan)	584	0.5%
Commercial loan (Mortgage Loan)	560	0.5%
Commercial loan (Mortgage Loan)	550	0.5%
Commercial loan (Mortgage Loan)	481	0.4%
Pacific Life & Annuity Company (Common Stock) (Subsidiary)	474	0.4%
Commercial loan (Mortgage Loan)	440	0.4%
Commercial loan (Mortgage Loan)	440	0.4%
Commercial loan (Mortgage Loan)	434	0.4%
Commercial loan (Mortgage Loan)	407	0.3%

2.

The amounts and percentages of Total Admitted Assets held in bonds and preferred stocks by NAIC designation as of December 31, 2022, are as follows:

	(In Millions)	Percentage of Total Admitted Assets		(In Millions)	Percentage of Total Admitted Assets
Bonds:			Preferred Stock:
NAIC 1	$31,539	26.2%	NAIC 1
NAIC 2	38,017	31.6%	NAIC 2
NAIC 3	3,478	2.9%	NAIC 3
NAIC 4	734	0.6%	NAIC 4
NAIC 5	84	0.1%	NAIC 5
NAIC 6	26	0.0%	NAIC 6	4	0.0%

77

3.

Assets held in foreign investments as of December 31, 2022, totaled $19,231 million, which represents 16.0% of Total Admitted Assets.

a.

The aggregate foreign investment exposure, categorized by NAIC sovereign designation as of December 31, 2022, is as follows:

	(In Millions)	Percentage of Total Admitted Assets
Countries designated NAIC 1	$17,178	14.3%
Countries designated NAIC 2	1,453	1.2%
Countries designated NAIC 3 or below	600	0.5%

b.

The largest foreign investment exposures in a single country, categorized by the country’s NAIC sovereign designation as of December 31, 2022, are as follows:

	(In Millions)	Percentage of Total Admitted Assets
Countries designated NAIC 1
Country: United Kingdom (Great Britain)	$3,772	3.1%
Country: Cayman Islands	3,397	2.8%
Countries designated NAIC 2
Country: Mexico	432	0.4%
Country: India	278	0.2%
Countries designated NAIC 3 or below
Country: Colombia	171	0.1%
Country: Brazil	80	0.1%

c.

The aggregate unhedged foreign currency exposure as of December 31, 2022, totaled $225 million, which represents 0.2% of Total Admitted Assets.

d.

The aggregate unhedged foreign currency exposure categorized by country’s NAIC sovereign designation as of December 31, 2022 is as follows:

	(In Millions)	Percentage of Total Admitted Assets
Countries designated NAIC 1	$225	0.2%

78

e.

The largest unhedged foreign currency exposures by country, categorized by the country’s NAIC sovereign designation as of December 31, 2022 are as follows:

(In Millions)

Percentage
of Total
Admitted Assets

Countries designated NAIC 1

Country: Switzerland

$76

0.1%

Country: United Kingdom (Great Britain)

74

0.1%

f.

The 10 largest non-sovereign (i.e., non-governmental) foreign issues as of December 31, 2022 are as follows:

NAIC Designation	Issuer	(In Millions)	Percentage of Total Admitted Assets
1.D FE/1.G FE/2.A FE/2.C FE	BNP Paribas	$291	0.2%
2.A FE	Anheuser-Busch Companies Inc	236	0.2%
1.E FE/2.A FE/2.B FE	Groupe BPCE	204	0.2%
1.F PL	SVF II Finco LP	178	0.1%
1.F FE/2.B FE	Barclays Bank PLC	177	0.1%
1.D FE/1.G FE	UBS A.G.	175	0.1%
2.B FE/2.C FE	Societe Generale	170	0.1%
1.D FE/1.G FE/2.A FE	Credit Agricole SA/London	165	0.1%
1.E FE/1.G FE/2.A FE	Lloyds TSB Bank Group PLC	150	0.1%
1.E FE/1.G FE/2.A FE/2.B FE	Sumitomo Mitsui Banking	143	0.1%

4.

The aggregate amount and percentage of Total Admitted Assets held in Canadian investments and unhedged Canadian currency exposure are less than 2.5% of Total Admitted Assets as of December 31, 2022.

5.

The aggregate amount and percentage of Total Admitted Assets held in investments with contractual sales restrictions are less than 2.5% of Total Admitted Assets as of December 31, 2022.

79

6.

The amounts and percentages of Total Admitted Assets held in the largest 10 equity interests as of December 31, 2022 are as follows:

Issuer	(In Millions)	Percentage of Total Admitted Assets
Pacific Asset Holding LLC	$3,575	3.0%
Pacific Life & Annuity Company	474	0.4%
Pacific Private Equity Opportunities Fund III, L.P.	358	0.3%
Pacific Private Equity Opportunities Fund IV, L.P.	294	0.2%
Pacific Private Credit Fund IV, L.P.	166	0.1%
Pacific Co-Invest Opportunities Fund I, L.P.	145	0.1%
Pacific Private Equity Opportunities Fund II, L.P.	128	0.1%
Pacific Private Credit Fund III, L.P.	115	0.1%
Pacific Private Equity Fund I	106	0.1%
Pacific Private Credit Fund V, L.P.	100	0.1%

7.

Assets held in nonaffiliated, privately placed equities are less than 2.5% of Total Admitted Assets as of December 31, 2022.

a.

Ten largest fund managers as of December 31, 2022 are as follows:

	Total Invested	Diversified
Fund Manager	(In Millions)
Strategic Partners	$144	$144
CRSEF Lux GP. S.A.R.L.	67	67
Montana Capital Partners AG	62	62
ManuLife Investment Management	60	60
Tiger Global PIP Management XV, Ltd.	57	57
Stepstone Group	57	57
Industry Ventures	51	51
Glendower Capital LLP	50	50
Ardian	50	50
Digital Colony II GP, LLC	45	45

8.

Assets held in general partnership interests are less than 2.5% of Total Admitted Assets as of December 31, 2022.

80

9.

The amounts and percentages of Total Admitted Assets held in mortgage loans as of December 31, 2022 are as follows:

a.

The 10 largest aggregate mortgage interests sharing the same property or group of properties as of December 31, 2022 are as follows:

Type (Residential, Commercial, Agricultural)	(In Millions)	Percentage of Total Admitted Assets
Commercial loan	$550	0.5%
Commercial loan	440	0.4%
Commercial loan	434	0.4%
Commercial loan	407	0.3%
Commercial loan	375	0.3%
Commercial loan	360	0.3%
Commercial loan	345	0.3%
Commercial loan	333	0.3%
Commercial loan	332	0.3%
Commercial loan	332	0.3%

10.

The amounts and percentages of Total Admitted Assets held in the following categories of mortgage loans as of December 31, 2022 are as follows:

	(In Millions)	Percentage of Total Admitted Assets
Construction loans	$3,208	2.7%
Mortgage loans over 90 days past due	15	0.0%
Restructured mortgage loans	19	0.0%

11.

The aggregate mortgage loans having the following loan-to-value ratios as determined from the most current appraisals as of December 31, 2022 are as follows:

	(In Millions)	Percentage of Total Admitted Assets	(In Millions)	Percentage of Total Admitted Assets	(In Millions)	Percentage of Total Admitted Assets
	Residential:		Commercial:		Agricultural:
Above 95%			$72	0.1%
91% to 95%
81% to 90%
71% to 80%			508	0.4%	$1	0.0%
Below 70%	$236	0.2%	17,217	14.3%	995	0.8%

12.

Assets held in real estate are less than 2.5% of Total Admitted Assets as of December 31, 2022.

13.

Assets held in investments held in mezzanine real estate loans are less than 2.5% of Total Admitted Assets as of December 31, 2022.

81

14.

The amounts and percentages of Total Admitted Assets subject to the following types of agreements as of December 31, 2022 and each of the preceding three quarters are as follows ($ In Millions):

		Percentage
	December 31,	of Total	As of Each Quarter End
	2022	Admitted Assets	1st Quarter	2nd Quarter	3rd Quarter
Securities lending agreements	$3,828	3.2%	$3,909	$3,522	$3,666

15.

The amounts and percentages of Total Admitted Assets for warrants not attached to other financial instruments, options, caps, and floors as of December 31, 2022, are as follows ($ In Millions):

	December 31, 2022	Percentage of Total Admitted Assets	December 31, 2022	Percentage of Total Admitted Assets
	Owned:		Written:
Hedging	$878	0.7%

16.

The amounts and percentages of Total Admitted Assets of potential exposure for collars, swaps, and forwards as of December 31, 2022 and each of the preceding three quarters are as follows ($ In Millions):

		Percentage
	December 31,	of Total	As of Each Quarter End
	2022	Admitted Assets	1st Quarter	2nd Quarter	3rd Quarter
Hedging	$351	0.3%	$301	$377	$370

17.

The amounts and percentages of Total Admitted Assets of potential exposure for futures contracts as of December 31, 2022 and each of the preceding three quarters are as follows ($ In Millions):

		Percentage
	December 31,	of Total	As of Each Quarter End
	2022	Admitted Assets	1st Quarter	2nd Quarter	3rd Quarter
Hedging	$247	0.2%	$78	$110	$164

82

Pacific Life Insurance Company

S U P P L E M E N T A L S C H E D U L E O F R E I N S U R A N C E D I S C L O S U R E S
D E C E M B E R 3 1 , 2 0 2 2

The following information regarding reinsurance contracts is presented to satisfy the disclosure requirements in SSAP No. 61R, Life, Deposit-Type and Accident and Health Reinsurance, which apply to reinsurance contracts entered into, renewed or amended on or after January 1, 1996.

1.

The Company has not reinsured any risk with any other entity under a reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) that is subject to Appendix A-791, Life and Health Reinsurance Agreements, that includes a provision that limits the reinsurer’s assumption of significant risks identified in Appendix A-791.

2.

The Company has not reinsured any risk with any other entity under a reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) that is not subject to Appendix A-791, for which reinsurance accounting was applied and includes a provision that limits the reinsurer’s assumption of risk.

3.

The Company does not have any reinsurance contracts (other than reinsurance contracts with a federal or state facility) that contain one or more of the following features which may result in delays in payment in form or in fact:

a.

Provisions that permit the reporting of losses, or settlements to be made, less frequently than quarterly;

b.

Provisions that permit payments due from the reinsurer to not be made in cash within 90 days of the settlement date (unless there is no activity during the period); or

c.

The existence of payment schedules, accumulating retentions from multiple years, or any features inherently designed to delay timing of the reimbursement to the ceding entity.

4.

The Company has not reflected reinsurance accounting credit for any contracts that are not subject to Appendix A-791 and not yearly renewable term reinsurance, which meet the risk transfer requirements of SSAP No. 61R.

5.

The Company has not ceded any risk, which is not subject to Appendix A-791 and not yearly renewable term reinsurance, under any reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) during the year ended December 31, 2022 and are accounted for the contract as reinsurance under SAP and as a deposit under GAAP.

6.

The Company has not ceded any risk, which is not subject to Appendix A-791 and not yearly renewable term reinsurance, under any reinsurance contract (or multiple contracts with the same reinsurer or its affiliates) during the year ended December 31, 2022 and accounted for the contract as reinsurance under GAAP and as a deposit under SAP.

83

Variable Account Comprising the Separate Account	Statement of Operations	Statement of Changes in Net Assets	Financial Highlights
MFS® Utilities Series - Service Class	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
MFS® Value Series - Initial Class	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from June 1, 2021 (commencement of operations) through December 31, 2021
MFS® Value Series - Service Class	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Neuberger Berman U.S. Equity Index PutWrite Strategy Class S	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
TOPS® Aggressive Growth ETF Class 1	For the period January 5, 2022 (commencement of operations) through December 31, 2022
TOPS® Balanced ETF Class 1	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from November 10, 2021 (commencement of operations) through December 31, 2021
TOPS® Conservative ETF Class 1	For the period March 25, 2022 (commencement of operations) through December 31, 2022
TOPS® Growth ETF Class 1	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from February 19, 2021 (commencement of operations) through December 31, 2021
TOPS® Managed Risk Growth ETF Class 1	For the period April 22, 2022 (commencement of operations) through December 31, 2022
TOPS® Moderate Growth ETF Class 1	For the period September 20, 2022 (commencement of operations) through December 31, 2022
PIMCO All Asset - Advisor Class	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For the years ended December 31, 2022, 2021, and the period from May 28, 2020 (commencement of operations) through December 31, 2020
PIMCO Commodity-RealReturn® Strategy - Advisor Class	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
PIMCO Emerging Markets Bond- Institutional Class	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from May 27, 2021 (commencement of operations) through December 31, 2021
PIMCO Income - Advisor Class	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For the years ended December 31, 2022, 2021, and the period from May 7, 2020 (commencement of operations) through December 31, 2020
PIMCO Long-Term U.S. Government- Institutional Class	For the period January 28, 2022 (commencement of operations) through December 31, 2022
PIMCO Low Duration- Institutional Class	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from August 31, 2021 (commencement of operations) through December 31, 2021
PIMCO Total Return- Institutional Class	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from June 4, 2021 (commencement of operations) through December 31, 2021
PSF International Growth Class II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
PSF Mid-Cap Growth Class II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
PSF PGIM Jennison Growth Class Growth II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
PSF PGIM Jennison Value Class II	For the year ended December 31, 2022	For each of the two years in the period ended December 31, 2022	For each of the five years in the period ended December 31, 2022
Schwab Government Money Market	Not Applicable	Not Applicable	For the period June 9, 2021 through July 9, 2021, and the period from May 7, 2018 through September 6, 2018
Schwab S&P 500 Index Fund	For the year ended December 31, 2022	For the year ended December 31, 2022 and the period from April 15, 2021 (commencement of operations) through December 31, 2021

This ‘N-VPFS/A’ Filing	Date	Other Filings

	3/31/25
	12/31/24
	6/15/23
Filed on / Effective on:	4/12/23
	3/31/23	485BXT
	3/20/23
	2/28/23
	1/1/23
For Period end:	12/31/22	24F-2NT, N-30B-2, N-CEN, N-VPFS
	12/27/22
	12/13/22
	12/7/22
	9/28/22
	9/20/22
	9/16/22
	9/2/22
	8/16/22
	8/15/22	497, 497VPI, 497VPU
	7/1/22
	6/14/22
	5/13/22	485APOS, CORRESP
	5/6/22
	4/22/22	485BPOS
	4/14/22
	4/6/22
	4/1/22
	3/25/22
	3/14/22	N-CEN
	3/9/22
	3/7/22
	1/28/22
	1/24/22
	1/13/22
	1/5/22
	1/3/22
	1/1/22
	12/31/21	24F-2NT, N-30B-2, N-CEN
	12/30/21
	12/7/21
	11/16/21
	11/11/21
	11/10/21
	11/3/21
	11/2/21
	10/28/21
	10/19/21
	10/12/21
	10/7/21
	9/16/21	485BPOS
	9/14/21
	9/9/21
	9/2/21
	8/31/21
	8/27/21
	8/20/21
	8/13/21
	8/12/21
	8/11/21
	8/10/21
	7/29/21
	7/28/21
	7/27/21
	7/16/21
	7/9/21
	7/8/21
	6/30/21	N-30B-2
	6/29/21
	6/28/21
	6/25/21
	6/23/21
	6/22/21
	6/18/21
	6/16/21
	6/15/21
	6/11/21
	6/9/21
	6/7/21
	6/4/21	497
	6/3/21
	6/1/21
	5/28/21
	5/27/21
	5/20/21
	5/17/21	EFFECT
	5/4/21	497
	4/20/21	485BPOS
	4/15/21
	4/8/21	485BXT
	2/19/21
	1/1/21
	12/31/20	24F-2NT, N-30B-2, N-CEN
	12/27/20
	5/28/20
	5/7/20
	4/7/20
	3/27/20
	1/1/20
	12/31/19	24F-2NT, N-30B-2, N-CEN
	12/31/18	24F-2NT, N-30B-2, N-CEN
	9/6/18
	5/7/18
	1/1/18
	12/22/17
	1/1/15
	12/31/13	24F-2NT, N-30D, NSAR-U
	12/31/12	24F-2NT, N-30D, NSAR-U
	12/31/11	24F-2NT, N-30D, NSAR-U
	12/31/09	24F-2NT, N-30D, NSAR-U
	1/1/96
		List all Filings

December 31,

(In Millions)

Statutory capital and surplus, Nebraska basis

State permitted practices that are an increase (decrease) from NAIC SAP Change in policy reserves

Statutory capital and surplus, NAIC SAP