Dispositions - Dispositions (Tables)

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Effects of Reinsurance [Table Text Block]

The Company entered into reinsurance transactions with Brighthouse in the normal course of business and such transactions will continue based upon business needs. Information regarding the significant effects of reinsurance transactions with Brighthouse was as follows:

	Included on Consolidated Statements of Operations			Excluded from Consolidated Statements of Operations
	Year Ended December 31,			Years Ended December 31,
	2017 (1)			2017 (2)			2016			2015
	(In millions)
Premiums
Reinsurance assumed	$	183		$	248		$	462		$	416
Reinsurance ceded	(4		)	(7		)	(9		)	(8		)
Net premiums	$	179		$	241		$	453		$	408
Universal life and investment-type product policy fees
Reinsurance assumed	$	(4	)	$	(6	)	$	(2	)	$	2
Reinsurance ceded	(44		)	(55		)	(102		)	(114		)
Net universal life and investment-type product policy fees	$	(48	)	$	(61	)	$	(104	)	$	(112	)
Policyholder benefits and claims
Reinsurance assumed	$	150		$	196		$	385		$	330
Reinsurance ceded	(22		)	(16		)	(23		)	(28		)
Net policyholder benefits and claims	$	128		$	180		$	362		$	302
Interest credited to policyholder account balances
Reinsurance assumed	$	6		$	10		$	16		$	14
Reinsurance ceded	(30		)	(42		)	(75		)	(78		)
Net interest credited to policyholder account balances	$	(24	)	$	(32	)	$	(59	)	$	(64	)
Other expenses
Reinsurance assumed	$	39		$	10		$	88		$	76
Reinsurance ceded	7			(28		)	(29		)	(45		)
Net other expenses	$	46		$	(18	)	$	59		$	31

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(1) Includes transactions after the Separation.

(2) Includes transactions prior to the Separation.

Information regarding the significant effects of reinsurance transactions with Brighthouse included on the consolidated balance sheets was as follows at:

	December 31, 2017
	Assumed		Ceded
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	167	$	1,793
Deferred policy acquisition costs and value of business acquired	384		(40		)
Total assets	$	551	$	1,753
Liabilities
Future policy benefits	$	1,734	$	—
Other policy-related balances	119		28
Other liabilities	1,458		19
Total liabilities	$	3,311	$	47

The amounts on the consolidated balance sheets include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows at:

	December 31,
	2017									2016
	Direct		Assumed		Ceded			Total Balance Sheet		Direct		Assumed		Ceded			Total Balance Sheet
	(In millions)
Assets
Premiums, reinsurance and other receivables	$	6,300	$	866	$	11,257		$	18,423	$	5,927	$	543	$	8,975		$	15,445
Deferred policy acquisition costs and value of business acquired	18,350		398		(329		)	18,419		17,878		16		(304		)	17,590
Total assets	$	24,650	$	1,264	$	10,928		$	36,842	$	23,805	$	559	$	8,671		$	33,035
Liabilities
Future policy benefits	$	174,694	$	3,280	$	—		$	177,974	$	165,121	$	1,515	$	—		$	166,636
Policyholder account balances	182,226		293		(1		)	182,518		171,961		527		(2		)	172,486
Other policy-related balances	14,962		520		33			15,515		13,071		324		7			13,402
Other liabilities	17,077		1,896		5,009			23,982		18,815		405		4,515			23,735
Total liabilities	$	388,959	$	5,989	$	5,041		$	399,989	$	368,968	$	2,771	$	4,520		$	376,259

The amounts on the consolidated statements of operations include the impact of reinsurance. Information regarding the significant effects of reinsurance was as follows:

	Years Ended December 31,
	2017			2016			2015
	(In millions)
Premiums
Direct premiums	$	39,595		$	37,975		$	37,044
Reinsurance assumed	1,773			1,363			1,382
Reinsurance ceded	(2,376		)	(2,136		)	(2,023		)
Net premiums	$	38,992		$	37,202		$	36,403
Universal life and investment-type product policy fees
Direct universal life and investment-type product policy fees	$	5,978		$	5,884		$	5,952
Reinsurance assumed	83			96			105
Reinsurance ceded	(551		)	(497		)	(487		)
Net universal life and investment-type product policy fees	$	5,510		$	5,483		$	5,570
Policyholder benefits and claims
Direct policyholder benefits and claims	$	39,354		$	37,186		$	36,143
Reinsurance assumed	1,388			1,085			984
Reinsurance ceded	(2,429		)	(1,913		)	(1,983		)
Net policyholder benefits and claims	$	38,313		$	36,358		$	35,144
Other expenses
Direct other expenses	$	13,610		$	13,958		$	14,934
Reinsurance assumed	246			169			146
Reinsurance ceded	(235		)	(378		)	(303		)
Net other expenses	$	13,621		$	13,749		$	14,777

Disposal Groups, Including Discontinued Operations [Table Text Block]

	For the Years Ended December 31,
	2017 (1)			2016			2015
	(In millions)
Revenues
Premiums	$	820		$	1,951		$	2,142
Universal life and investment-type product policy fees	2,201			3,724			3,936
Net investment income	1,783			3,157			3,038
Other revenues	150			74			58
Total net investment gains (losses)	(48		)	(140		)	(48		)
Net derivative gains (losses)	(1,061		)	(5,886		)	(466		)
Total revenues	3,845			2,880			8,660
Expenses
Policyholder benefits and claims	2,217			4,487			3,612
Interest credited to policyholder account balances	620			1,107			1,195
Policyholder dividends	16			34			32
Goodwill impairment	—			260			—
Other expenses	853			1,333			2,043
Total expenses	3,706			7,221			6,882
Income (loss) from discontinued operations before provision for income tax and loss on disposal of discontinued operations	139			(4,341		)	1,778
Provision for income tax expense (benefit)	(46		)	(1,607		)	454
Income (loss) from discontinued operations before loss on disposal of discontinued operations, net of income tax	185			(2,734		)	1,324
Transaction costs associated with the Separation, net of income tax	(216		)	—			—
Tax charges associated with the Separation	(955		)	—			—
Income (loss) on disposal of discontinued operations, net of income tax	(1,171		)	—			—
Income (loss) from discontinued operations, net of income tax	$	(986	)	$	(2,734	)	$	1,324

__________________

(1) Includes transactions prior to the Separation.

The following table presents the amounts related to the financial position of Brighthouse that have been reflected in the assets and liabilities of disposed subsidiary:

	December 31, 2016
	(In millions)
Assets
Investments:
Fixed maturity securities available-for-sale	$	61,326
Equity securities available-for-sale	300
Mortgage loans	9,378
Policy loans	1,517
Real estate and real estate joint ventures	150
Other limited partnership interests	1,642
Short-term investments	1,288
Other invested assets	3,881
Total investments	79,482
Cash and cash equivalents	5,226
Accrued investment income	680
Premiums, reinsurance and other receivables	10,636
Deferred policy acquisition costs and value of business acquired	7,207
Other assets	709
Separate account assets	113,043
Total assets of disposed subsidiary	$	216,983
Liabilities
Future policy benefits	$	33,270
Policyholder account balances	37,066
Other policy-related balances	1,356
Policyholder dividends payable	12
Payables for collateral under securities loaned and other transactions	7,390
Long-term debt	60
Collateral financing arrangements	2,797
Deferred income tax liability	2,594
Other liabilities	5,119
Separate account liabilities	113,043
Total liabilities of disposed subsidiary	$	202,707

In the consolidated statements of cash flows, the cash flows from discontinued operations are not separately classified. The following table presents selected financial information regarding cash flows of the discontinued operations.

	For the Years Ended December 31,
	2017			2016			2015
	(In millions)
Net cash provided by (used in):
Operating activities	$	1,329		$	3,697		$	4,559
Investing activities	$	(2,732	)	$	4,674		$	(7,042	)
Financing activities	$	(367	)	$	(4,715	)	$	2,452