Shareholder's Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

The following tables provide the amounts related to each component of OCI:


	Three Months Ended September 30,
	2020						2019
	Pretax		Income Tax Benefit (Expense)		Net of Tax		Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	208	$	(44)	$	164	$	289	$	(63)	$	226
Reclassification of net (gains) losses on securities included in net income (2)	(2)		—		(2)		11		(2)		9
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(94)		20		(74)		(195)		41		(154)
Net unrealized gains (losses) on securities	112		(24)		88		105		(24)		81
Total other comprehensive income (loss)	$	112	$	(24)	$	88	$	105	$	(24)	$	81


	Nine Months Ended September 30,
	2020						2019
	Pretax		Income Tax Benefit (Expense)		Net of Tax		Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	500	$	(107)	$	393	$	1,410	$	(302)	$	1,108
Reclassification of net (gains) losses on securities included in net income (2)	3		(1)		2		1		—		1
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(223)		47		(176)		(694)		146		(548)
Net unrealized gains (losses) on securities	280		(61)		219		717		(156)		561
Total other comprehensive income (loss)	$	280	$	(61)	$	219	$	717	$	(156)	$	561

(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period.

(2) Reclassification amounts are recorded in net realized investment gains (losses).

Other comprehensive income (loss) related to net unrealized gains (losses) on securities includes three components: (i) unrealized gains (losses) that arose from changes in the market value of securities that were held during the period; (ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of Available-for-Sale securities and due to the reclassification of noncredit impairments to credit losses; and (iii) other adjustments primarily consisting of changes in insurance and annuity asset and liability balances, such as DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables, to reflect the expected impact on their carrying values had the unrealized gains (losses) been realized as of the respective balance sheet dates.

The following tables present the changes in the balances of each component of AOCI, net of tax:


	Net Unrealized Gains (Losses) on Securities		Other		Total
	(in millions)
Balance, July 1, 2020	$	706	$	(1)	$	705
OCI before reclassifications	90		—		90
Amounts reclassified from AOCI	(2)		—		(2)
Total OCI	88		—		88
Balance, September 30, 2020	$	794	$	(1)	$	793

Balance, January 1, 2020	$	575	$	(1)	$	574
OCI before reclassifications	217		—		217
Amounts reclassified from AOCI	2		—		2
Total OCI	219		—		219
Balance, September 30, 2020	$	794	$	(1)	$	793


	Net Unrealized Gains (Losses) on Securities		Other		Total
	(in millions)
Balance, July 1, 2019	$	526	$	(1)	$	525
OCI before reclassifications	72		—		72
Amounts reclassified from AOCI	9		—		9
Total OCI	81		—		81
Balance, September 30, 2019	$	607	$	(1)	$	606

Balance, January 1, 2019	$	46	$	(1)	$	45
OCI before reclassifications	560		—		560
Amounts reclassified from AOCI	1		—		1
Total OCI	561		—		561
Balance, September 30, 2019	$	607	$	(1)	$	606

(1) Includes nil of noncredit related impairments on securities and net unrealized gains (losses) on previously impaired securities as of both September 30, 2020 and September 30, 2019.