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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)

Shareholders' equity included the following components of Accumulated Other Comprehensive Income ("AOCI") as of the dates indicated:
 
December 31,
 
2019
 
2018
 
2017
Fixed maturities, net of OTTI
$
5,546

 
$
1,074

 
$
5,351

Equity securities
—

 
—

 
35

Derivatives(1)
145

 
170

 
127

DAC/VOBA adjustment on available-for-sale securities
(1,498
)
 
(380
)
 
(1,471
)
Premium deficiency reserve
(249
)
 
(57
)
 
(190
)
Sales inducements and other intangibles adjustment on available-for-sale securities
(185
)
 
(64
)
 
(278
)
Other
—

 
—

 
(18
)
Unrealized capital gains (losses), before tax
3,759

 
743

 
3,556

Deferred income tax asset (liability)
(435
)
 
(143
)
 
(840
)
Net unrealized capital gains (losses)
3,324

 
600

 
2,716

Pension and other postretirement benefits liability, net of tax
7

 
7

 
15

AOCI
$
3,331

 
$
607

 
$
2,731


(1) Gains and losses reported in Accumulated Other Comprehensive Income (AOCI) from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of December 31, 2019, the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $25.
Changes in AOCI, including the reclassification adjustments recognized in the Consolidated Statements of Operations were as follows for the periods indicated:
 
December 31, 2019
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
4,448

 
$
(935
)
 
$
3,513

Equity securities
—

(1) 
—

 
—

Other
—

 
—

 
—

OTTI
3

 
(1
)
 
2

Adjustments for amounts recognized in Net realized capital gains (losses) in the Consolidated Statements of Operations
21

 
(4
)
 
17

DAC/VOBA
(1,118
)
(2) 
235

 
(883
)
Premium deficiency reserve
(192
)
 
40

 
(152
)
Sales inducements and other intangibles
(121
)
 
25

 
(96
)
Change in unrealized gains/losses on available-for-sale securities
3,041

 
(640
)
 
2,401

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
—

(3) 
—

 
—

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations
(25
)
 
5

 
(20
)
Change in unrealized gains/losses on derivatives
(25
)
 
5

 
(20
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Consolidated Statements of Operations
(4
)
(4) 
4

 
—

Change in pension and other postretirement benefits liability
(4
)
 
4

 
—

Change in Accumulated other comprehensive income (loss)
$
3,012

 
$
(631
)
 
$
2,381


(1) Balance reclassified to Retained earnings due to adoption of ASU 2016-01.
(2) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Consolidated Financial Statements for additional information.
(3) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information.
(4) See the Employee Benefit Arrangements Note to these Consolidated Financial Statements for amounts reported in Net Periodic (Benefit) Costs.



 
December 31, 2018
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
(4,379
)
 
$
1,079

 
$
(3,300
)
Equity securities
—

(1) 
—

 
—

Other
18

 
(8
)
 
10

OTTI
32

 
(9
)
 
23

Adjustments for amounts recognized in Net realized capital gains (losses) in the Consolidated Statements of Operations
70

 
(18
)
 
52

DAC/VOBA
1,091

(2) 
(255
)
 
836

Premium deficiency reserve
133

 
(28
)
 
105

Sales inducements
214

 
(59
)
 
155

Change in unrealized gains/losses on available-for-sale securities
(2,821
)
 
702

 
(2,119
)
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
69

(3) 
(19
)
 
50

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations
(26
)
 
7

 
(19
)
Change in unrealized gains/losses on derivatives
43

 
(12
)
 
31

 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Consolidated Statements of Operations
(11
)
(4) 
3

 
(8
)
Change in pension and other postretirement benefits liability
(11
)
 
3

 
(8
)
Change in Accumulated other comprehensive income (loss)
$
(2,789
)
 
$
693

 
$
(2,096
)
(1) Balance reclassified to Retained earnings due to adoption of ASU 2016-01.
(2) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Consolidated Financial Statements for additional information.
(3) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information.
(4) See the Employee Benefit Arrangements Note to these Consolidated Financial Statements for amounts reported in Net Periodic (Benefit) Costs.




 
December 31, 2017
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
1,943

 
$
(647
)
 
$
1,296

Equity securities
2

 
(1
)
 
1

Other
13

 
(5
)
 
8

OTTI
(2
)
 
1

 
(1
)
Adjustments for amounts recognized in Net realized capital gains (losses) in the Consolidated Statements of Operations
(3
)
 
1

 
(2
)
DAC/VOBA
(388
)
(1) 
150

 
(238
)
Premium deficiency reserve
(136
)
 
48

 
(88
)
Sales inducements
(109
)
 
39

 
(70
)
Change in unrealized gains/losses on available-for-sale securities
1,320

 
(414
)
 
906

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
(106
)
(2) 
37

 
(69
)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Consolidated Statements of Operations
(25
)
 
9

 
(16
)
Change in unrealized gains/losses on derivatives
(131
)
 
46

 
(85
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Consolidated Statements of Operations
(15
)
(3) 
4

 
(11
)
Change in pension and other postretirement benefits liability
(15
)
 
4

 
(11
)
Change in Accumulated other comprehensive income (loss)
$
1,174

 
$
(364
)
 
$
810

(1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Consolidated Financial Statements for additional information.
(2) See the Derivative Financial Instruments Note to these Consolidated Financial Statements for additional information.
(3) See the Employee Benefit Arrangements Note to these Consolidated Financial Statements for amounts reported in Net Periodic (Benefit) Costs.