XML 33 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Premiums $ 150 $ 142 $ 448 $ 441
Contract charges 180 192 557 652
Net investment income 473 461 1,417 1,612
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (73) (19) (95) (41)
OTTI losses reclassified to (from) other comprehensive income 6 0 9 (1)
Net OTTI losses recognized in earnings (67) (19) (86) (42)
Sales and other realized capital gains and losses 256 47 445 60
Total realized capital gains and losses 189 28 359 18
Total revenues 992 823 2,781 2,723
Costs and expenses        
Contract benefits 353 356 1,057 1,101
Interest credited to contractholder funds 181 191 546 696
Amortization of deferred policy acquisition costs 38 36 116 124
Operating costs and expenses 56 75 211 232
Restructuring and related charges 0 (1) 2 2
Interest expense 4 4 12 12
Total costs and expenses 632 661 1,944 2,167
Gain (loss) on disposition of operations 2 (27) 2 (71)
Income from operations before income tax expense 362 135 839 485
Income tax expense 123 51 297 142
Net income 239 84 542 343
Other comprehensive (loss) income, after-tax        
Change in unrealized net capital gains and losses (302) 24 (697) 345
Change in unrealized foreign currency translation adjustments 3 0 (4) 1
Other comprehensive (loss) income, after-tax (299) 24 (701) 346
Comprehensive (loss) income $ (60) $ 108 $ (159) $ 689