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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Net investment income $ 419 $ 473 $ 826 $ 877
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (2) (13) (2) (41)
OTTI losses reclassified to (from) other comprehensive income 0 0 1 (4)
Net OTTI losses recognized in earnings (2) (13) (3) (37)
Sales and valuation changes on equity investments and derivatives 10 9 (21) 32
Total realized capital gains and losses 8 (4) (24) (5)
Total revenues 783 826 1,519 1,588
Costs and expenses        
Contract benefits 357 364 727 718
Interest credited to contractholder funds 152 161 300 322
Amortization of deferred policy acquisition costs 39 43 78 84
Operating costs and expenses 68 78 136 158
Restructuring and related charges 2 0 2 0
Interest expense 1 2 2 3
Total costs and expenses 619 648 1,245 1,285
Gain on disposition of operations 2 2 3 4
Income from operations before income tax expense 166 180 277 307
Income tax expense 32 60 53 101
Net income 134 120 224 206
Other comprehensive (loss) income, after-tax        
Change in unrealized net capital gains and losses (61) 118 (236) 183
Change in unrealized foreign currency translation adjustments 5 0 9 (3)
Other comprehensive (loss) income, after-tax (56) 118 (227) 180
Comprehensive income (loss) 78 238 (3) 386
Premiums        
Revenues        
Revenues 175 170 352 339
Contract charges        
Revenues        
Revenues 173 177 349 356
Other revenue        
Revenues        
Revenues $ 8 $ 10 $ 16 $ 21