XML 49 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 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
Second 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, March 31, 2020
$
252

 
$
(66
)
 
$
(17
)
 
$
(38
)
 
$
7

 
$
138

Other comprehensive income (loss) before reclassifications
184

 
19

 
(6
)
 
—

 
—

 
197

Less: Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
12

 
(8
)
 
—

 
—

 
—

 
4

Fair value gains (losses) on FG VIEs
—

 
—

 
(1
)
 
—

 
—

 
(1
)
Total before tax
12

 
(8
)
 
(1
)
 
—

 
—

 
3

Tax (provision) benefit
(3
)
 
2

 
—

 
—

 
—

 
(1
)
Total amount reclassified from AOCI, net of tax
9

 
(6
)
 
(1
)
 
—

 
—

 
2

Net current period other comprehensive income (loss)
175

 
25

 
(5
)
 
—

 
—

 
195

Balance, June 30, 2020
$
427

 
$
(41
)
 
$
(22
)
 
$
(38
)
 
$
7

 
$
333


























Changes in Accumulated Other Comprehensive Income by Component
Second 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, March 31, 2019
$
222

 
$
99

 
$
(31
)
 
$
(37
)
 
$
8

 
$
261

Other comprehensive income (loss) before reclassifications
90

 
(40
)
 
(2
)
 
(1
)
 
—

 
47

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

 
(3
)
 
—

 
—

 
—

 
8

Net investment income
2

 
14

 
—

 
—

 
—

 
16

Fair value gains (losses) on FG VIEs
—

 
—

 
(8
)
 
—

 
—

 
(8
)
Total before tax
13

 
11

 
(8
)
 
—

 
—

 
16

Tax (provision) benefit
(2
)
 
(3
)
 
2

 
—

 
—

 
(3
)
Total amount reclassified from AOCI, net of tax
11

 
8

 
(6
)
 
—

 
—

 
13

Net current period other comprehensive income (loss)
79

 
(48
)
 
4

 
(1
)
 
—

 
34

Balance, June 30, 2019
$
301

 
$
51

 
$
(27
)
 
$
(38
)
 
$
8

 
$
295


Changes in Accumulated Other Comprehensive Income by Component
Six Months 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
28

 
(42
)
 
3

 
—

 
—

 
(11
)
Less: Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
18

 
(19
)
 
—

 
—

 
—

 
(1
)
Fair value gains (losses) on FG VIEs
—

 
—

 
(3
)
 
—

 
—

 
(3
)
Total before tax
18

 
(19
)
 
(3
)
 
—

 
—

 
(4
)
Tax (provision) benefit
(3
)
 
4

 
1

 
—

 
—

 
2

Total amount reclassified from AOCI, net of tax
15

 
(15
)
 
(2
)
 
—

 
—

 
(2
)
Net current period other comprehensive income (loss)
13

 
(27
)
 
5

 
—

 
—

 
(9
)
Balance, June 30, 2020
$
427

 
$
(41
)
 
$
(22
)
 
$
(38
)
 
$
7

 
$
333

Changes in Accumulated Other Comprehensive Income by Component
Six Months 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
255

 
(47
)
 
(4
)
 
(1
)
 
—

 
203

Less: Amounts reclassified from AOCI to:
 
 
 
 
 
 
 
 
 
 
 
Net realized investment gains (losses)
14

 
(18
)
 
—

 
—

 
—

 
(4
)
Net investment income
2

 
14

 
—

 
—

 
—

 
16

Fair value gains (losses) on FG VIEs
—

 
—

 
(10
)
 
—

 
—

 
(10
)
Total before tax
16

 
(4
)
 
(10
)
 
—

 
—

 
2

Tax (provision) benefit
(3
)
 
—

 
2

 
—

 
—

 
(1
)
Total amount reclassified from AOCI, net of tax
13

 
(4
)
 
(8
)
 
—

 
—

 
1

Net current period other comprehensive income (loss)
242

 
(43
)
 
4

 
(1
)
 
—

 
202

Balance, June 30, 2019
$
301


$
51


$
(27
)

$
(38
)

$
8


$
295
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 - June 30)
 
5,956,422

 
164

 
27.49

2020 (July 1- August 6)
 
800,052

 
19

 
23.17

Total 2020
 
10,385,884

 
$
299

 
$
28.74