Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Federal Income Taxes [Abstract]

Income tax expense (benefit), continuing operations

	For the Years Ended December 31,
	2016		2015		2014
Current	$	88	$	212	$	220
Deferred		178		64		263
Federal income tax expense (benefit)	$	266	$	276	$	483

Reconciliation of effective tax rate differences

	For the Years Ended December 31,
	2016			2015			2014
Tax rate times pre-tax income	$	510		$	501		$	700
Effect of:
Tax-preferred investment income		(196	)		(197	)		(185	)
Tax credits		(28	)		(26	)		(27	)
Change in uncertain tax positions		(14	)		(2	)		(16	)
Excess tax benefits from share-based
compensation		(8	)		-			-
Other items		2			-			11
Federal income tax expense (benefit)	$	266		$	276		$	483
Effective tax rate		18%			19%			24%

Federal income tax asset (liability)

	As of December 31,
	2016			2015
Current	$	4		$	(136	)
Deferred		(2,463	)		(1,867	)
Total federal income tax asset (liability)	$	(2,459	)	$	(2,003	)

Significant components of deferred tax assets and liabilities

	As of December 31,
	2016			2015
Deferred Tax Assets
Future contract benefits and other contract holder funds	$	1,286		$	1,494
Deferred gain on business sold through reinsurance		8			35
Reinsurance related embedded derivative asset		19			31
Compensation and benefit plans		309			265
Net operating loss carryforwards		-			12
Tax credits		85			33
Other		133			205
Total deferred tax assets	$	1,840		$	2,075
Deferred Tax Liabilities
DAC	$	1,986		$	2,064
VOBA		312			313
Net unrealized gain on AFS securities		1,646			1,116
Net unrealized gain on trading securities		68			70
Intangibles		20			117
Investment activity		108			105
Other		163			157
Total deferred tax liabilities	$	4,303		$	3,942
Net deferred tax asset (liability)	$	(2,463	)	$	(1,867	)

Schedule of Unrecognized Tax Benefits Roll Forward

	For the Years Ended
	December 31,
	2016			2015
Balance as of beginning-of-year	$	13		$	15
Increases for prior year tax positions		-			-
Decreases for prior year tax positions		-			(2	)
Increases for current year tax positions		1			-
Decreases for settlements with taxing authorities		(1	)		-
Decreases for expiring statutes		(12	)		-
Balance as of end-of-year	$	1		$	13