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Deferred Policy Acquisition Costs and Value of Business Acquired
 12 Months Ended
Dec. 31, 2019
Insurance [Abstract]  
Deferred Policy Acquisition Costs and Value of Business Acquired Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of DAC and VOBA for the periods indicated:


DAC
 
VOBA
 
Total
Balance at January 1, 2017
$
2,077

 
$
811

 
$
2,888

Deferrals of commissions and expenses
126

 
8

 
134

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(235
)
 
(152
)
 
(387
)
Unlocking(1)
(71
)
 
(89
)
 
(160
)
Interest accrued
129

 
65

(2) 
194

Net amortization included in Consolidated Statements of Operations
(177
)
 
(176
)
 
(353
)
Change in unrealized capital gains/losses on available-for-sale securities
(91
)
 
(87
)
 
(178
)
Balance at December 31, 2017
1,935

 
556

 
2,491

Deferrals of commissions and expenses
97

 
9

 
106

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(241
)
 
(103
)
 
(344
)
Unlocking(1)
(62
)
 
(10
)
 
(72
)
Interest accrued
125

 
58

(2) 
183

Net amortization included in Consolidated Statements of Operations
(178
)
 
(55
)
 
(233
)
Change in unrealized capital gains/losses on available-for-sale securities
301

 
308

 
609

Balance as of December 31, 2018
2,155

 
818

 
2,973

Deferrals of commissions and expenses
102

 
8

 
110

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(303
)
 
(134
)
 
(437
)
Unlocking(1)
12

 
48

 
60

Interest accrued
122

 
56

(2) 
178

Net amortization included in Consolidated Statements of Operations
(169
)
 
(30
)
 
(199
)
Change in unrealized capital gains/losses on available-for-sale securities
(326
)
 
(332
)
 
(658
)
Balance as of December 31, 2019
$
1,762

 
$
464

 
$
2,226

(1) 
There was no loss recognition for DAC and VOBA during 2019, 2018 and 2017. Unlocking for 2018 and 2017 includes unfavorable amounts associated with an update to assumptions related to customer consents of changes to guaranteed minimum interest rate provisions. The 2018 amounts were $25 and $26 for DAC and VOBA, respectively and the 2017 amounts were $80 and $140 for DAC and VOBA, respectively.
(2) 
Interest accrued at the following rates for VOBA: 3.5% to 7.4% during 2019 and 2018, and 4.0% to 7.4% during 2017.

The estimated amount of VOBA amortization expense, net of interest, during the next five years is presented in the following table. Actual amortization incurred during these years may vary as assumptions are modified to incorporate actual results and/or changes in best estimates of future results.
Year
 
Amount
2020
 
$
50

2021
 
48

2022
 
45

2023
 
44

2024
 
43