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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Jun. 30, 2018
Dec. 31, 2017
Investments    
Fixed income securities, at fair value (amortized cost $21,041 and $22,004) $ 21,567 $ 23,261
Mortgage loans 3,839 3,876
Equity securities, at fair value (cost $1,439 and $1,306) 1,705 1,614
Limited partnership interests 3,452 3,147
Short-term, at fair value (amortized cost $1,066 and $725) 1,066 725
Policy loans 557 561
Other 1,322 1,254
Total investments 33,508 34,438
Cash 61 145
Deferred policy acquisition costs 1,231 1,156
Accrued investment income 265 263
Other assets 516 501
Separate Accounts 3,247 3,422
Total assets 41,458 42,605
Liabilities    
Contractholder funds 18,016 18,592
Reserve for life-contingent contract benefits 11,267 11,625
Unearned premiums 4 4
Payable to affiliates, net 41 55
Other liabilities and accrued expenses 1,003 1,076
Deferred income taxes 812 836
Notes due to related parties 140 140
Separate Accounts 3,247 3,422
Total liabilities 34,530 35,750
Commitments and Contingent Liabilities (Note 7)
Shareholder’s equity    
Common stock, $227 par value, 23,800 shares authorized and outstanding 5 5
Additional capital paid-in 2,024 2,024
Retained income 4,519 3,981
Unrealized net capital gains and losses:    
Unrealized net capital gains and losses on fixed income securities with OTTI 48 47
Other unrealized net capital gains and losses 368 1,186
Unrealized adjustment to DAC, DSI and insurance reserves (55) (398)
Total unrealized net capital gains and losses 361 835
Unrealized foreign currency translation adjustments 19 10
Total accumulated other comprehensive income (“AOCI”) 380 845
Total shareholder’s equity 6,928 6,855
Total liabilities and shareholder’s equity 41,458 42,605
Series A    
Shareholder’s equity    
Redeemable preferred stock 0 0
Series B    
Shareholder’s equity    
Redeemable preferred stock 0 0
Affiliate    
Investments    
Reinsurance recoverables 428 437
Non-affiliate    
Investments    
Reinsurance recoverables $ 2,202 $ 2,243