XML 17 R2.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Premiums (net of reinsurance ceded of $94, $139 and $138) $ 618 $ 677 $ 704
Contract charges, other revenue 675 682 695
Net investment income 1,242 1,411 1,585
Realized capital gains and losses 266 341 (175)
Total revenues 2,835 3,153 2,847
Costs and expenses      
Contract benefits (net of reinsurance ceded of $176, $187 and $249) 1,729 1,481 1,446
Interest credited to contractholder funds (net of reinsurance ceded of $44, $40 and $44) 579 585 601
Amortization of deferred policy acquisition costs 147 180 146
Operating costs and expenses 229 249 271
Restructuring and related charges 5 1 2
Interest expense 7 5 5
Total costs and expenses 2,696 2,501 2,471
Gain on disposition of operations 4 6 6
Income from operations before income tax expense 143 658 382
Income tax expense 7 128 17
Net income 136 530 365
Other comprehensive income (loss), after-tax      
Change in unrealized net capital gains and losses 282 679 (354)
Change in unrealized foreign currency translation adjustments 10 (17) 0
Other comprehensive income (loss), after-tax 292 662 (354)
Comprehensive income 428 1,192 11
Other revenue      
Revenues      
Contract charges, other revenue $ 34 $ 42 $ 38