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Summary of Net Realized Investment Gains and Losses (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net Realized Investment Gains and Losses      
Realized gains on sales [1] $ 12 $ 53 $ 50
Realized losses on sales [1] (10) (16) (90)
Net realized derivative losses (309) (9) (42)
Valuation losses and other [2] (30) (5) (3)
OTTI losses [3],[4] (3) (11) (26)
Net realized investment (losses) gains $ (340) $ 12 $ (111)
[1] Gross gains of $12 million, $52 million and $49 million and gross losses of $10 million, $11 million and $89 million were realized on sales of available-for-sale securities during the years ended December 31, 2018, 2017 and 2016, respectively.
[2] As disclosed within Note 3, the Company adopted ASU 2016-01 on January 1, 2018, which required the Company to measure equity securities at fair value with any changes in fair value recognized through net realized investment gains and losses.
[3] Includes impairments on alternative investment tax credit funds due to corporate tax rate reductions set forth in the Tax Cuts and Jobs Act during the year ended December 31, 2017.
[4] OTTI on fixed maturity securities excludes non-credit losses of $3 million, $4 million and $6 million included in other comprehensive income for the years ended December 31, 2018, 2017 and 2016, respectively.