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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Sep. 30, 2018
Dec. 31, 2017
Investments    
Fixed income securities, at fair value (amortized cost $21,291 and $22,004) $ 21,752 $ 23,261
Mortgage loans 3,923 3,876
Equity securities, at fair value (cost $1,193 and $1,306) 1,483 1,614
Limited partnership interests 3,394 3,147
Short-term, at fair value (amortized cost $926 and $725) 926 725
Policy loans 564 561
Other 1,343 1,254
Total investments 33,385 34,438
Cash 71 145
Deferred policy acquisition costs 1,220 1,156
Accrued investment income 263 263
Other assets 476 501
Separate Accounts 3,282 3,422
Total assets 41,286 42,605
Liabilities    
Contractholder funds 17,759 18,592
Reserve for life-contingent contract benefits 11,255 11,625
Unearned premiums 4 4
Payable to affiliates, net 35 55
Other liabilities and accrued expenses 1,088 1,076
Deferred income taxes 755 836
Notes due to related parties 140 140
Separate Accounts 3,282 3,422
Total liabilities 34,318 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 4,612 3,981
Unrealized net capital gains and losses:    
Unrealized net capital gains and losses on fixed income securities with OTTI 50 47
Other unrealized net capital gains and losses 315 1,186
Unrealized adjustment to DAC, DSI and insurance reserves (48) (398)
Total unrealized net capital gains and losses 317 835
Unrealized foreign currency translation adjustments 10 10
Total accumulated other comprehensive income (“AOCI”) 327 845
Total shareholder’s equity 6,968 6,855
Total liabilities and shareholder’s equity 41,286 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 424 437
Non-affiliate    
Investments    
Reinsurance recoverables $ 2,165 $ 2,243