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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (unaudited) - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Investments    
Fixed income securities, at fair value (amortized cost $20,419 and $21,057) $ 22,000 $ 21,400
Mortgage loans 4,012 3,995
Equity securities, at fair value (cost $923 and $1,197) 1,217 1,325
Limited partnership interests 3,304 3,292
Short-term, at fair value (amortized cost $1,475 and $810) 1,475 810
Policy loans 555 561
Other 1,366 1,300
Total investments 33,929 32,683
Cash 50 52
Deferred policy acquisition costs 973 1,232
Reinsurance recoverables 2,480  
Accrued investment income 248 253
Other assets 586 534
Separate Accounts 2,912 2,783
Total assets 41,178 40,142
Liabilities    
Contractholder funds 16,843 17,470
Reserve for life-contingent contract benefits 11,361 11,239
Unearned premiums 4 4
Payable to affiliates, net 34 50
Other liabilities and accrued expenses 1,297 1,101
Deferred income taxes 900 663
Notes due to related parties 140 140
Separate Accounts 2,912 2,783
Total liabilities 33,491 33,450
Commitments and Contingent Liabilities
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 4,736 4,410
Unrealized net capital gains and losses:    
Unrealized net capital gains and losses on fixed income securities with OTTI 50 45
Other unrealized net capital gains and losses 1,198 225
Unrealized adjustment to DAC, DSI and insurance reserves (332) (27)
Total unrealized net capital gains and losses 916 243
Unrealized foreign currency translation adjustments 6 10
Total accumulated other comprehensive income (“AOCI”) 922 253
Total shareholder’s equity 7,687 6,692
Total liabilities and shareholder’s equity 41,178 40,142
Redeemable preferred stock - series A, $100 par value, 1,500,000 shares authorized, none issued    
Shareholder’s equity    
Redeemable preferred stock 0 0
Redeemable preferred stock - series B, $100 par value, 1,500,000 shares authorized, none issued    
Shareholder’s equity    
Redeemable preferred stock 0 0
Affiliates    
Investments    
Reinsurance recoverables 408 420
Non-affiliates    
Investments    
Reinsurance recoverables $ 2,072 $ 2,185