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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net investment income $ 311 $ 407
Realized capital gains and losses:    
Total other-than-temporary impairment (“OTTI”) losses (7) 0
OTTI losses reclassified from other comprehensive income (“OCI”) 0 (1)
Net OTTI losses recognized in earnings (7) (1)
Sales and valuation changes on equity investments and derivatives 155 (31)
Total realized capital gains and losses 148 (32)
Total revenues 816 736
Costs and expenses    
Contract benefits 363 370
Interest credited to contractholder funds 148 148
Amortization of deferred policy acquisition costs 32 39
Operating costs and expenses 69 68
Interest expense 1 1
Total costs and expenses 613 626
Gain on disposition of operations 1 1
Income from operations before income tax expense 204 111
Income tax expense 40 21
Net income 164 90
Other comprehensive income (loss), after-tax    
Change in unrealized net capital gains and losses 346 (175)
Change in unrealized foreign currency translation adjustments (3) 4
Other comprehensive income (loss), after-tax 343 (171)
Comprehensive income (loss) 507 (81)
Premiums    
Revenues    
Revenues 171 177
Contract charges    
Revenues    
Revenues 176 176
Other revenue    
Revenues    
Revenues $ 10 $ 8