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Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Income by Component
The following tables present the changes in each component of AOCI and the effect of reclassifications out of AOCI on the respective line items in net income.

Changes in Accumulated Other Comprehensive Income by Component
Second Quarter 2018

 
Net Unrealized
Gains (Losses) on Investments with no OTTI
 
Net Unrealized
Gains (Losses) on Investments with OTTI
 
Net Unrealized Gains (Losses) on FG VIEs Liabilities with Recourse due to ISCR
 
Cumulative
Translation
Adjustment
 
Cash Flow 
Hedge
 
Total 
AOCI
 
(in millions)
Balance, March 31, 2018
$
146

 
$
118

 
$
(35
)
 
$
(23
)
 
$
8

 
$
214

Other comprehensive income (loss) before reclassifications
(64
)
 
6

 
3

 
(9
)
 

 
(64
)
Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
1

 
0

 

 

 

 
1

Fair value gains (losses) on FG VIEs

 

 
1

 

 

 
1

Total before tax
1

 
0

 
1

 

 

 
2

Tax (provision) benefit
0

 
0

 
0

 

 

 
0

Total amount reclassified from AOCI, net of tax
1

 
0

 
1

 

 

 
2

Net current period other comprehensive income (loss)
(63
)
 
6

 
4

 
(9
)
 

 
(62
)
Balance, June 30, 2018
$
83

 
$
124

 
$
(31
)
 
$
(32
)
 
$
8

 
$
152



Changes in Accumulated Other Comprehensive Income by Component
Second Quarter 2017

 
Net Unrealized
Gains (Losses) on
Investments with no OTTI
 
Net Unrealized
Gains (Losses) on
Investments with OTTI
 
Cumulative
Translation
Adjustment
 
Cash Flow 
Hedge
 
Total 
AOCI
 
(in millions)
Balance, March 31, 2017
$
170

 
$
66

 
$
(37
)
 
$
7

 
$
206

Other comprehensive income (loss) before reclassifications
62

 
46

 
10

 

 
118

Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
(6
)
 
(8
)
 

 

 
(14
)
Total before tax
(6
)
 
(8
)
 

 

 
(14
)
Tax (provision) benefit
2

 
3

 

 

 
5

Total amount reclassified from AOCI, net of tax
(4
)
 
(5
)
 

 

 
(9
)
Net current period other comprehensive income (loss)
58

 
41

 
10

 

 
109

Balance, June 30, 2017
$
228

 
$
107

 
$
(27
)
 
$
7

 
$
315



Changes in Accumulated Other Comprehensive Income by Component
Six Months 2018

 
Net Unrealized
Gains (Losses) on Investments with no OTTI
 
Net Unrealized
Gains (Losses) on Investments with OTTI
 
Net Unrealized Gains (Losses) on FG VIEs Liabilities with Recourse due to ISCR
 
Cumulative
Translation
Adjustment
 
Cash Flow 
Hedge
 
Total 
AOCI
 
(in millions)
Balance, December 31, 2017
$
273

 
$
120

 
$

 
$
(29
)
 
$
8

 
$
372

Effect of adoption of ASU 2016-01 (see Note 1)
1

 

 
(33
)
 

 

 
(32
)
Other comprehensive income (loss) before reclassifications
(186
)
 
(5
)
 
(1
)
 
(3
)
 

 
(195
)
Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
(5
)
 
11

 

 

 

 
6

Fair value gains (losses) on FG VIEs

 

 
4

 

 

 
4

Total before tax
(5
)
 
11

 
4

 

 

 
10

Tax (provision) benefit
0

 
(2
)
 
(1
)
 

 

 
(3
)
Total amount reclassified from AOCI, net of tax
(5
)
 
9

 
3

 

 

 
7

Net current period other comprehensive income (loss)
(191
)
 
4

 
2

 
(3
)
 

 
(188
)
Balance, June 30, 2018
$
83

 
$
124

 
$
(31
)
 
$
(32
)
 
$
8

 
$
152



Changes in Accumulated Other Comprehensive Income by Component
Six Months 2017

 
Net Unrealized
Gains (Losses) on
Investments with no Other-Than-Temporary Impairment
 
Net Unrealized
Gains (Losses) on
Investments with Other-Than-Temporary Impairment
 
Cumulative
Translation
Adjustment
 
Cash Flow 
Hedge
 
Total 
AOCI
 
(in millions)
Balance, December 31, 2016
$
171

 
$
10

 
$
(39
)
 
$
7

 
$
149

Other comprehensive income (loss) before reclassifications
106

 
96

 
12

 

 
214

Amounts reclassified from AOCI to:


 


 


 


 
 
Net realized investment gains (losses)
(47
)
 
1

 

 

 
(46
)
Net investment income
(28
)
 

 

 

 
(28
)
Total before tax
(75
)
 
1

 

 

 
(74
)
Tax (provision) benefit
26

 
0

 

 

 
26

Total amount reclassified from AOCI, net of tax
(49
)
 
1

 

 

 
(48
)
Net current period other comprehensive income (loss)
57

 
97

 
12

 

 
166

Balance, June 30, 2017
$
228

 
$
107

 
$
(27
)
 
$
7

 
$
315

Schedule of Share Repurchases

Share Repurchases

Period
 
Number of Shares Repurchased
 
Total Payments
(in millions)
 
Average Price Paid Per Share
2017 (January 1 - March 31)
 
5,430,041

 
$
216

 
$
39.83

2017 (April 1 - June 30, 2017)
 
3,456,711

 
135

 
39.05

2017 (July 1 - September 30, 2017)
 
1,847,901

 
80

 
43.29

2017 (October 1 - December 31, 2017)
 
1,934,990

 
70

 
36.18

Total 2017
 
12,669,643

 
$
501

 
$
39.57

2018 (January 1 - March 31)
 
2,787,936

 
98

 
35.20

2018 (April 1 - June 30)
 
4,163,190

 
152

 
36.48

2018 (July 1 through August 2, 2018)
 
1,357,121

 
50

 
36.84

Total 2018
 
8,308,247

 
$
300

 
$
36.11

Cumulative repurchases since the beginning of 2013
 
89,621,097

 
$
2,516

 
$
28.08