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Shareholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2020
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
First Quarter 2020

 
Net Unrealized Gains (Losses) on Investments with no credit impairment
 
Net Unrealized gains (Losses) on Investments with credit impairment
 
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, 2019
$
352

 
$
48

 
$
(27
)
 
$
(38
)
 
$
7

 
$
342

Effect of adoption of accounting guidance on credit losses
62

 
(62
)
 
—

 
—

 
—

 
—

Other comprehensive income (loss) before reclassifications
(156
)
 
(61
)
 
9

 
—

 
—

 
(208
)
Less: Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
6

 
(11
)
 
—

 
—

 
—

 
(5
)
Net investment income
—

 
—

 
—

 
—

 
—

 
—

Fair value gains (losses) on FG VIEs
—

 
—

 
(2
)
 
—

 
—

 
(2
)
Total before tax
6

 
(11
)
 
(2
)
 
—

 
—

 
(7
)
Tax (provision) benefit
—

 
2

 
1

 
—

 
—

 
3

Total amount reclassified from AOCI, net of tax
6

 
(9
)
 
(1
)
 
—

 
—

 
(4
)
Net current period other comprehensive income (loss)
(162
)
 
(52
)
 
10

 
—

 
—

 
(204
)
Balance, March 31, 2020
$
252

 
$
(66
)
 
$
(17
)
 
$
(38
)
 
$
7

 
$
138






















Changes in Accumulated Other Comprehensive Income by Component
First Quarter 2019

 
Net Unrealized Gains (Losses) on Investments with no credit impairment
 
Net Unrealized gains (Losses) on Investments with credit impairment
 
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, 2018
$
59

 
$
94

 
$
(31
)
 
$
(37
)
 
$
8

 
$
93

Other comprehensive income (loss) before reclassifications
165

 
(7
)
 
(2
)
 
—

 
—

 
156

Less: Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
3

 
(15
)
 
—

 
—

 
—

 
(12
)
Fair value gains (losses) on FG VIEs
—

 
—

 
(2
)
 
—

 
—

 
(2
)
Total before tax
3

 
(15
)
 
(2
)
 
—

 
—

 
(14
)
Tax (provision) benefit
(1
)
 
3

 
—

 
—

 
—

 
2

Total amount reclassified from AOCI, net of tax
2

 
(12
)
 
(2
)
 
—

 
—

 
(12
)
Net current period other comprehensive income (loss)
163

 
5

 
—

 
—

 
—

 
168

Balance, March 31, 2019
$
222


$
99


$
(31
)

$
(37
)

$
8


$
261
Schedule of Share Repurchases
Share Repurchases

Period
 
Number of Shares Repurchased
 
Total Payments
(in millions)
 
Average Price Paid Per Share
2019 (January 1 - March 31)
 
1,908,605

 
$
79

 
$
41.62

2019 (April 1 - June 30)
 
2,519,130

 
111

 
43.89

2019 (July 1 - September 30)
 
3,400,677

 
150

 
44.11

2019 (October 1 - December 31)
 
3,335,517

 
160

 
47.97

Total 2019
 
11,163,929

 
$
500

 
$
44.79

2020 (January 1 - March 31)
 
3,629,410

 
116

 
32.03

2020 (April 1 - May 7)
 
3,311,130

 
93

 
28.01

Total 2020
 
6,940,540

 
$
209

 
$
30.11