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Accumulated Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income

Shareholders' equity included the following components of Accumulated Other Comprehensive Income ("AOCI") as of the dates indicated:
 
March 31,
 
2020
 
2019
Fixed maturities, net of impairment
$
2,819

 
$
2,958

Derivatives(1)
235

 
154

DAC/VOBA adjustment on available-for-sale securities
(906
)
 
(879
)
Premium deficiency reserve
(146
)
 
(93
)
Sales inducements and other intangibles adjustment on available-for-sale securities
(127
)
 
(112
)
Unrealized capital gains (losses), before tax
1,875

 
2,028

Deferred income tax asset (liability)
(40
)
 
(72
)
Net unrealized capital gains (losses)
1,835

 
1,956

Pension and other postretirement benefits liability, net of tax
6

 
10

AOCI
$
1,841

 
$
1,966


(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 March 31, 2020, the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $24.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
 
 
 
 
 
 





Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations were as follows for the periods indicated:

 
Three Months Ended March 31, 2020
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
(2,756
)
 
$
578

 
$
(2,178
)
Impairments
—

 
—

 
—

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
29

 
(6
)
 
23

DAC/VOBA
592

(1) 
(124
)
 
468

Premium deficiency reserve
103

 
(22
)
 
81

Sales inducements and other intangibles
58

 
(12
)
 
46

Change in unrealized gains/losses on available-for-sale securities
(1,974
)
 
414

 
(1,560
)
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
96

(2) 
(20
)
 
76

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(6
)
 
1

 
(5
)
Change in unrealized gains/losses on derivatives
90

 
(19
)
 
71

 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
(1
)
 
—

 
(1
)
Change in pension and other postretirement benefits liability
(1
)
 
—

 
(1
)
Change in Accumulated other comprehensive income (loss)
$
(1,885
)
 
$
395

 
$
(1,490
)
(1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information.
(2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.

 
 
 
 
 
 



 
Three Months Ended March 31, 2019
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
1,865

 
$
(390
)
 
$
1,475

Impairment
1

 
—

 
1

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
17

 
(4
)
 
13

DAC/VOBA
(498
)
(1) 
105

 
(393
)
Premium deficiency reserve
(36
)
 
8

 
(28
)
Sales inducements and other intangibles
(48
)
 
10

 
(38
)
Change in unrealized gains/losses on available-for-sale securities
1,301

 
(271
)
 
1,030

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
(10
)
(2) 
2

 
(8
)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(6
)
 
1

 
(5
)
Change in unrealized gains/losses on derivatives
(16
)
 
3

 
(13
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
(1
)
 
—

 
(1
)
Change in pension and other postretirement benefits liability
(1
)
 
—

 
(1
)
Change in Accumulated other comprehensive income (loss)
$
1,284

 
$
(268
)
 
$
1,016


(1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information.
(2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.