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Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Assets:      
Fixed maturities, held-to-maturity [2] $ 1,895 [1] $ 1,933  
Assets supporting experience-rated contractholder liabilities [2] 21,580 21,597  
Commercial mortgage and other loans [2] 63,559 [1] 63,559  
Policy loans 12,099 12,096  
Other invested assets [2] 18,071 [1] 15,606  
Cash and cash equivalents 31,646 [2] 16,327 [2] $ 14,699
Accrued investment income [2] 3,221 3,330  
Liabilities:      
Securities sold under agreements to repurchase 10,557 9,681  
Cash collateral for loaned securities 3,396 4,213  
Short-term debt 2,539 1,933  
Long-term debt 20,149 18,646  
Fair Value      
Assets:      
Fixed maturities, held-to-maturity 2,249 2,302  
Assets supporting experience-rated contractholder liabilities 190 16  
Commercial mortgage and other loans 64,370 65,665  
Policy loans 12,099 12,096  
Other invested assets 196 36  
Short-term Investments 1,849 1,531  
Cash and cash equivalents 10,474 7,321  
Accrued investment income 3,221 3,330  
Other assets 2,912 3,316  
Total assets 97,560 95,613  
Liabilities:      
Policyholders’ account balances—investment contracts 105,330 102,156  
Securities sold under agreements to repurchase 10,557 9,681  
Cash collateral for loaned securities 3,396 4,213  
Short-term debt 2,547 1,953  
Long-term debt 20,481 21,324  
Notes issued by consolidated VIEs 452 474  
Other liabilities 6,853 6,982  
Separate account liabilities—investment contracts 91,582 101,541  
Total liabilities 241,198 248,324  
Carrying Amount      
Assets:      
Fixed maturities, held-to-maturity 1,895 1,933  
Assets supporting experience-rated contractholder liabilities 190 16  
Commercial mortgage and other loans 62,889 63,331  
Policy loans 12,099 12,096  
Other invested assets 196 36  
Short-term Investments 1,849 1,531  
Cash and cash equivalents 10,474 7,321  
Accrued investment income 3,221 3,330  
Other assets 2,910 3,315  
Total assets 95,723 92,909  
Liabilities:      
Policyholders’ account balances—investment contracts 104,660 101,241  
Securities sold under agreements to repurchase 10,557 9,681  
Cash collateral for loaned securities 3,396 4,213  
Short-term debt 2,539 1,933  
Long-term debt 20,149 18,646  
Notes issued by consolidated VIEs 452 474  
Other liabilities 6,853 6,982  
Separate account liabilities—investment contracts 91,582 101,541  
Total liabilities 240,188 244,711  
Level 1 | Fair Value      
Assets:      
Fixed maturities, held-to-maturity 0 0  
Assets supporting experience-rated contractholder liabilities 110 16  
Commercial mortgage and other loans 0 0  
Policy loans 0 0  
Other invested assets 0 0  
Short-term Investments 1,764 1,492  
Cash and cash equivalents 10,216 6,278  
Accrued investment income 0 0  
Other assets 151 147  
Total assets 12,241 7,933  
Liabilities:      
Policyholders’ account balances—investment contracts 0 0  
Securities sold under agreements to repurchase 0 0  
Cash collateral for loaned securities 0 0  
Short-term debt 0 0  
Long-term debt 1,836 1,950  
Notes issued by consolidated VIEs 0 0  
Other liabilities 0 0  
Separate account liabilities—investment contracts 0 0  
Total liabilities 1,836 1,950  
Level 2 | Fair Value      
Assets:      
Fixed maturities, held-to-maturity 2,164 2,217  
Assets supporting experience-rated contractholder liabilities 80 0  
Commercial mortgage and other loans 109 107  
Policy loans 0 0  
Other invested assets 196 36  
Short-term Investments 85 39  
Cash and cash equivalents 258 1,043  
Accrued investment income 3,221 3,330  
Other assets 2,584 2,526  
Total assets 8,697 9,298  
Liabilities:      
Policyholders’ account balances—investment contracts 36,747 32,940  
Securities sold under agreements to repurchase 10,557 9,681  
Cash collateral for loaned securities 3,396 4,213  
Short-term debt 2,339 1,748  
Long-term debt 17,488 18,188  
Notes issued by consolidated VIEs 0 0  
Other liabilities 6,806 6,403  
Separate account liabilities—investment contracts 67,654 77,134  
Total liabilities 144,987 150,307  
Level 3 | Fair Value      
Assets:      
Fixed maturities, held-to-maturity 85 85  
Assets supporting experience-rated contractholder liabilities 0 0  
Commercial mortgage and other loans 64,261 65,558  
Policy loans 12,099 12,096  
Other invested assets 0 0  
Short-term Investments 0 0  
Cash and cash equivalents 0 0  
Accrued investment income 0 0  
Other assets 177 643  
Total assets 76,622 78,382  
Liabilities:      
Policyholders’ account balances—investment contracts 68,583 69,216  
Securities sold under agreements to repurchase 0 0  
Cash collateral for loaned securities 0 0  
Short-term debt 208 205  
Long-term debt 1,157 1,186  
Notes issued by consolidated VIEs 452 474  
Other liabilities 47 579  
Separate account liabilities—investment contracts 23,928 24,407  
Total liabilities 94,375 96,067  
Prudential Netting Agreement | Fair Value      
Assets:      
Fixed maturities, held-to-maturity 5,001 5,401  
Liabilities:      
Long-term debt 10,617 10,158  
Prudential Netting Agreement | Carrying Amount      
Assets:      
Fixed maturities, held-to-maturity 4,998 4,998  
Liabilities:      
Long-term debt $ 10,614 $ 9,749  
[1]
March 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]
See Note 4 for details of balances associated with variable interest entities.