Segments (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Reconciliation of Operating Earnings Before Income Taxes from Segments to Consolidated

The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) from continuing operations before income taxes for the periods indicated:

	Three Months Ended March 31,
	2020			2019
Income (loss) from continuing operations before income taxes	$	44		$	102
Less Adjustments:
Net investment gains (losses) and related charges and adjustments	(8		)	13
Net guaranteed benefit hedging gains (losses) and related charges and adjustments	(89		)	(4		)
Income (loss) related to businesses exited or to be exited through reinsurance or divestment	9			9
Income (loss) attributable to noncontrolling interest	6			(1		)
Income (loss) related to early extinguishment of debt	—			—
Immediate recognition of net actuarial gains (losses) related to pension and other post-employment benefit obligations and gains (losses) from plan amendments and curtailments	—			66
Dividend payments made to preferred shareholders	14			10
Other adjustments	(22		)	(92		)
Total adjustments to income (loss) from continuing operations	$	(90	)	$	1
Adjusted operating earnings before income taxes by segment:
Retirement	$	124		$	129
Investment Management	40			34
Employee Benefits	61			38
Corporate	(91		)	(100		)
Total	$	134		$	101

Reconciliation of Revenue from Segments to Total Revenues

The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated:

	Three Months Ended March 31,
	2020			2019
Total revenues	$	1,685		$	1,822
Adjustments:
Net realized investment gains (losses) and related charges and adjustments	(8		)	13
Gains (losses) on change in fair value of derivatives related to guaranteed benefits	(90		)	(4		)
Revenues related to businesses exited or to be exited through reinsurance or divestment	344			398
Revenues attributable to noncontrolling interest	9			4
Other adjustments	33			82
Total adjustments to revenues	$	288		$	493
Adjusted operating revenues by segment:
Retirement	$	677		$	648
Investment Management	166			148
Employee Benefits	543			508
Corporate	11			25
Total	$	1,397		$	1,329

Schedule of Intersegment Revenues Included in Investment Management Segment

The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated:

	Three Months Ended March 31,
	2020		2019
Investment Management intersegment revenues	$	26	$	26

Summary of Financial Information for Segments

The summary below presents Total assets for the Company’s segments as of the dates indicated:

	March 31, 2020		December 31, 2019
Retirement	$	106,068	$	118,024
Investment Management	648		745
Employee Benefits	2,642		3,117
Corporate	25,362		25,206
Total assets, before consolidation(1)	134,720		147,092
Consolidation of investment entities	1,879		1,890
Total assets, excluding assets held for sale	136,599		148,982
Assets held for sale	19,133		20,069
Total assets	$	155,732	$	169,051

⁽¹⁾ Total assets, before consolidation includes the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.