Business Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Held for Sale Balance Sheets and Income Statements

The following table summarizes the major categories of assets and liabilities classified as held for sale in the accompanying Consolidated Balance Sheets as of December 31, 2017 and 2016:

	As of December 31,
	2017			2016
Assets:
Investments:
Fixed maturities, available-for-sale, at fair value	$	21,904		$	22,075
Fixed maturities, at fair value using the fair value option	615			647
Short-term investments	352			430
Mortgage loans on real estate, net of valuation allowance	4,212			3,722
Derivatives	1,514			976
Other investments(1)	351			258
Securities pledged	861			748
Total investments	29,809			28,856
Cash and cash equivalents	498			815
Short-term investments under securities loan agreements, including collateral delivered	473			202
Deferred policy acquisition costs and Value of business acquired	805			890
Sales Inducements	196			206
Deferred income taxes	404			520
Other assets(2)	396			286
Assets held in separate accounts	28,894			30,934
Write-down of businesses held for sale to fair value less cost to sell	(2,423		)	—
Total assets held for sale	$	59,052		$	62,709
Liabilities:
Future policy benefits and contract owner account balances	$	27,065		$	27,205
Payables under securities loan agreement, including collateral held	1,152			872
Derivatives	782			174
Notes payable	350			350
Other liabilities	34			41
Liabilities related to separate accounts	28,894			30,934
Total liabilities held for sale	$	58,277		$	59,576

⁽¹⁾ Includes Other investments, Equity securities, Limited Partnerships/corporations and Policy loans.

⁽²⁾ Includes Other assets, Accrued investment income, Premium receivable and reinsurance recoverable.

The following table summarizes the components of Income (loss) from discontinued operations, net of tax in the accompanying Consolidated Statements of Operations for the years ended December 31, 2017, 2016 and 2015:

	Year Ended December 31,
	2017			2016			2015
Revenues:
Net investment income	$	1,266		$	1,288		$	1,217
Fee income	801			889			1,011
Premiums	190			720			470
Total net realized capital gains (losses)	(1,234		)	(900		)	(173		)
Other revenue	19			19			22
Total revenues	1,042			2,016			2,547
Benefits and expenses:
Interest credited and other benefits to contract owners/policyholders	978			2,199			1,812
Operating expenses	250			283			319
Net amortization of Deferred policy acquisition costs and Value of business acquired	127			136			286
Interest expense	22			22			22
Total benefits and expenses	1,377			2,640			2,439
Income (loss) from discontinued operations before income taxes	(335		)	(624		)	108
Income tax expense (benefit)	(178		)	(287		)	(38		)
Loss on sale, net of tax	(2,423		)	—			—
Income (loss) from discontinued operations, net of tax	$	(2,580	)	$	(337	)	$	146

For additional information on certain assets, liabilities and other financial information related to businesses held for sale, see the Derivatives Note, Fair Value Measurements (excluding Consolidated Investments Entities) Note and the Guaranteed Benefit Features Note to these Consolidated Financial Statements.