Other Revenues and Other Expenses

6 Months Ended

Jun. 30, 2020

Other Income and Expenses [Abstract]

Other Revenues and Other Expenses Disclosure

11. Other Revenues and Other Expenses

Other Revenues

Information on other revenues, which primarily includes fees related to service contracts from customers, was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	(In millions)
Prepaid legal plans	$	99	$	86	$	200	$	172
Fee-based investment management	71		69		150		146
Recordkeeping and administrative services (1)	46		52		95		102
Administrative services-only contracts	54		53		110		106
Other revenue from service contracts from customers	54		64		114		135
Total revenues from service contracts from customers	324		324		669		661
Other	132		154		226		311
Total other revenues	$	456	$	478	$	895	$	972

__________________

(1)

Related to products and businesses no longer actively marketed by the Company.

Other Expenses

Information on other expenses was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(In millions)
Employee-related costs (1)	$	842		$	916		$	1,711		$	1,838
Third party staffing costs	311			420			659			789
General and administrative expenses	191			237			381			460
Pension, postretirement and postemployment benefit costs	37			57			76			113
Premium taxes, other taxes, and licenses & fees	176			174			369			344
Commissions and other variable expenses	1,315			1,470			2,723			2,919
Capitalization of DAC	(671		)	(837		)	(1,445		)	(1,649		)
Amortization of DAC and VOBA	560			689			1,348			1,313
Amortization of negative VOBA	(10		)	(10		)	(20		)	(20		)
Interest expense on debt	232			274			454			508
Total other expenses	$	2,983		$	3,390		$	6,256		$	6,615

__________________

(1)

Includes ($80) million and ($40) million for the three months and six months ended June 30, 2020, respectively, and ($41) million and ($117) million for the three months and six months ended June 30, 2019, respectively, for the net change in cash surrender value of investments in certain life insurance policies, net of premiums paid.

Restructuring Charges

In December 2019, the Company incurred the remaining restructuring charges related to its unit cost improvement program. During this program period, restructuring charges were included in other expenses and reported in Corporate & Other. Such restructuring charges were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	Severance
	(In millions)
Balance, beginning of period	$	22		$	17		$	57		$	23
Restructuring charges	—			14			—			21
Cash payments	(4		)	(11		)	(39		)	(24		)
Balance, end of period	$	18		$	20		$	18		$	20
Total severance charges incurred since inception of initiative	$	244		$	157		$	244		$	157