Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Summary of the Company's Business Segment Operating Results

The following tables summarize the Company’s business segment operating results for the years ended:

(in millions)	Individual Products and Solutions		Retirement Plans			Corporate and Other			Total
December 31, 2018
Revenues:
Policy charges	$	2,623		126			—		$	2,749
Premiums		658		—			37			695
Net investment income		1,655		835			185			2,675
Non-operating changes in variable annuity liabilities and net realized investment losses1		—		—			(11	)		(11	)
Other revenues (expenses)2		2		—			10			12
Total revenues	$	4,938	$	961		$	221		$	6,120
Benefits and expenses:
Interest credited to policyholder account values3	$	847		576			42		$	1,465
Benefits and claims4		1,387		—			97			1,484
Amortization of DAC		473		(4	)		(46	)		423
Other expenses, net of deferrals		810		198			292			1,300
Total benefits and expenses	$	3,517	$	770		$	385		$	4,672
Income (loss) before federal income taxes and noncontrolling interests	$	1,421		191			(164	)	$	1,448
Less: certain non-operating changes in variable annuity liabilities and net realized investment losses1		—		—			(11	)
Less: adjustment to amortization of DAC and other related expenses related to non-operating items above		—		—			48
Less: net loss attributable to noncontrolling interest		—		—			(168	)
Pre-tax operating earnings (loss)	$	1,421	$	191		$	(33	)	$	1,448
Assets as of year end	$	131,820	$	33,933		$	13,325		$	179,078

1 Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges).

2 Includes operating items (trading portfolio realized gains and losses, trading portfolio valuation changes).

3 Includes operating items (net realized gains and losses related to certain product hedges).

4 Excludes certain non-operating changes in variable annuity liabilities.

(in millions)	Individual Products and Solutions		Retirement Plans		Corporate and Other			Total
December 31, 2017
Revenues:
Policy charges	$	2,428	$	117	$	—		$	2,545
Premiums		596		—		37			633
Net investment income		1,521		835		58			2,414
Non-operating changes in variable annuity liabilities and net realized investment losses1		—		—		(318	)		(318	)
Other revenues2		1		—		9			10
Total revenues	$	4,546	$	952	$	(214	)	$	5,284
Benefits and expenses:
Interest credited to policyholder account values3	$	783	$	557	$	36		$	1,376
Benefits and claims4		1,395		—		27			1,422
Amortization of DAC		332		6		54			392
Other expenses, net of deferrals		741		194		258			1,193
Total benefits and expenses	$	3,251	$	757	$	375		$	4,383
Income before federal income taxes and noncontrolling interests	$	1,295	$	195	$	(589	)	$	901
Less: certain non-operating changes in variable annuity liabilities and net realized investment (losses)1		—		—		(318	)
Less: adjustment to amortization of DAC and other related expenses related to non-operating items above		—		—		(54	)
Less: net loss attributable to noncontrolling interest		—		—		(96	)
Pre-tax operating earnings (loss)	$	1,295	$	195	$	(121	)
Assets as of year end	$	134,326	$	35,520	$	11,343		$	181,189

1 Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges).

2 Includes operating items (trading portfolio realized gains and losses, trading portfolio valuation changes).

3 Includes operating items (net realized gains and losses related to certain product hedges).

4 Excludes certain non-operating changes in variable annuity liabilities.

(in millions)	Individual Products and Solutions		Retirement Plans		Corporate and Other			Total
December 31, 2016
Revenues:
Policy charges	$	2,254	$	107	$	—		$	2,361
Premiums		605		—		37			642
Net investment income		1,337		791		11			2,139
Non-operating changes in variable annuity liabilities and net realized investment losses1		—		—		(299	)		(299	)
Other revenues2		—		—		14			14
Total revenues	$	4,196	$	898	$	(237	)	$	4,857
Benefits and expenses:
Interest credited to policyholder account values3	$	684	$	531	$	30		$	1,245
Benefits and claims4		1,245		—		32			1,277
Amortization of DAC		432		4		(3	)		433
Other expenses, net of deferrals		654		181		163			998
Total benefits and expenses	$	3,015	$	716	$	222		$	3,953
Income before federal income taxes and noncontrolling interests	$	1,181	$	182	$	(459	)	$	904
Less: certain non-operating changes in variable annuity liabilities and net realized investment gains1		—		—		(299	)
Less: adjustment to amortization of DAC and other related expenses related to non-operating items above		—		—		6
Less: net loss attributable to noncontrolling interest		—		—		(91	)
Pre-tax operating earnings (loss)	$	1,181	$	182	$	(75	)
Assets as of year end	$	113,062	$	32,239	$	10,337		$	155,638

1 Excluding operating items (trading portfolio realized gains and losses, trading portfolio valuation changes and net realized gains and losses related to certain product hedges).

2 Includes operating items (trading portfolio realized gains and losses, trading portfolio valuation changes).

3 Includes operating items (net realized gains and losses related to certain product hedges).

4 Excludes certain non-operating changes in variable annuity liabilities.