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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Net investment income $ 385 $ 439 $ 1,211 $ 1,316
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (3) (4) (5) (45)
OTTI losses reclassified from other comprehensive income (“OCI”) (1) (2) (2) 2
Net OTTI losses recognized in earnings (4) (6) (7) (43)
Sales and valuation changes on equity investments and derivatives 52 25 31 57
Total realized capital gains and losses 48 19 24 14
Total revenues 787 813 2,306 2,401
Costs and expenses        
Contract benefits 362 331 1,089 1,049
Interest credited to contractholder funds 150 161 450 483
Amortization of deferred policy acquisition costs 39 32 117 116
Operating costs and expenses 63 78 199 236
Restructuring and related charges 0 1 2 1
Interest expense 1 1 3 4
Total costs and expenses 615 604 1,860 1,889
Gain on disposition of operations 1 1 4 5
Income from operations before income tax expense 173 210 450 517
Income tax (benefit) expense (20) 70 33 171
Net income 193 140 417 346
Other comprehensive (loss) income, after-tax        
Change in unrealized net capital gains and losses (44) 45 (280) 228
Change in unrealized foreign currency translation adjustments (9) 8 0 5
Other comprehensive (loss) income, after-tax (53) 53 (280) 233
Comprehensive income 140 193 137 579
Premiums        
Revenues        
Revenues 174 172 526 511
Contract charges        
Revenues        
Revenues 170 174 519 530
Other revenue        
Revenues        
Revenues $ 10 $ 9 $ 26 $ 30