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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Premiums $ 177 $ 169
Contract charges 176 179
Other revenue 8 11
Net investment income 407 404
Realized capital gains and losses:    
Total other-than-temporary impairment (“OTTI”) losses 0 (28)
OTTI losses reclassified to (from) other comprehensive income (1) 4
Net OTTI losses recognized in earnings (1) (24)
Sales and valuation changes on equity investments and derivatives (31) 23
Total realized capital gains and losses (32) (1)
Total revenues 736 762
Costs and expenses    
Contract benefits 370 354
Interest credited to contractholder funds 148 161
Amortization of deferred policy acquisition costs 39 41
Operating costs and expenses 68 80
Interest expense 1 1
Total costs and expenses 626 637
Gain on disposition of operations 1 2
Income from operations before income tax expense 111 127
Income tax expense 21 41
Net income 90 86
Other comprehensive (loss) income, after-tax    
Change in unrealized net capital gains and losses (175) 65
Change in unrealized foreign currency translation adjustments 4 (3)
Other comprehensive (loss) income, after-tax (171) 62
Comprehensive (loss) income $ (81) $ 148