XML 71 R2.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net investment income $ 373 $ 385 $ 1,101 $ 1,211
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (10) (3) (23) (5)
OTTI losses reclassified from other comprehensive income (“OCI”) 2 (1) 3 (2)
Net OTTI losses recognized in earnings (8) (4) (20) (7)
Sales and valuation changes on equity investments and derivatives 33 52 239 31
Total realized capital gains and losses 25 48 219 24
Total revenues 742 787 2,372 2,306
Costs and expenses        
Contract benefits 366 362 1,104 1,089
Interest credited to contractholder funds 154 150 445 450
Amortization of deferred policy acquisition costs 71 39 136 117
Operating costs and expenses 51 63 186 199
Restructuring and related charges 1 0 1 2
Interest expense 1 1 3 3
Total costs and expenses 644 615 1,875 1,860
Gain on disposition of operations 0 1 3 4
Income from operations before income tax expense 98 173 500 450
Income tax expense (benefit) 18 (20) 99 33
Net income 80 193 401 417
Other comprehensive income (loss), after-tax        
Change in unrealized net capital gains and losses 157 (44) 673 (280)
Change in unrealized foreign currency translation adjustments 1 (9) (4) 0
Other comprehensive income (loss), after-tax 158 (53) 669 (280)
Comprehensive income 238 140 1,070 137
Premiums        
Revenues 165 174 506 526
Contract charges        
Revenues 168 170 514 519
Other revenue        
Revenues $ 11 $ 10 $ 32 $ 26