Deferred Policy Acquisition Costs and Value of Business Acquired (Tables)

6 Months Ended

Jun. 30, 2020

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Deferred Policy Acquisition Costs and Value of Business Acquired

The following tables present a rollforward of DAC and VOBA for the periods indicated:

	2020
	DAC		VOBA			Total
Balance as of January 1, 2020	$	1,762	$	464		$	2,226
Impact of ASU 2016-13	3		—			3
Deferrals of commissions and expenses	51		2			53
Amortization:
Amortization, excluding unlocking	(136)		(49)			(185)
Unlocking(1)	7		(6)			1
Interest accrued	62		27		(2)	89
Net amortization included in Condensed Consolidated Statements of Operations	(67)		(28)			(95)
Change due to unrealized capital gains/losses on available-for-sale securities	(115)		(105)			(220)
Balance as of June 30, 2020	$	1,634	$	333		$	1,967
	2019
	DAC		VOBA			Total
Balance as of January 1, 2019	$	2,155	$	818		$	2,973
Deferrals of commissions and expenses	62		4			66
Amortization:
Amortization, excluding unlocking	(162)		(68)			(230)
Unlocking(1)	15		23			38
Interest accrued	64		28		(2)	92
Net amortization included in Condensed Consolidated Statements of Operations	(83)		(17)			(100)
Change due to unrealized capital gains/losses on available-for-sale securities	(255)		(266)			(521)
Balance as of June 30, 2019	$	1,879	$	539		$	2,418

⁽¹⁾ Includes the impacts of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking.

⁽²⁾ Interest accrued at the following rates for VOBA: 3.5% to 7.4% during 2020 and 2.7% and 7.4% during 2019.