INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

A summary of the income tax (expense) benefit in the consolidated statements of earnings (loss) follows:



	2015			2014			2013
	(In Millions)
Income tax (expense) benefit:
Current (expense) benefit	$	(36	)	$	(552	)	$	197
Deferred (expense) benefit	(150		)	(1,143		)	1,876
Total	$	(186	)	$	(1,695	)	$	2,073

Schedule of effective income tax rate reconciliation

The Federal income taxes attributable to consolidated operations are different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 35.0%. The sources of the difference and their tax effects are as follows:



	2015			2014			2013
	(In Millions)
Expected income tax (expense) benefit	$	(578	)	$	(2,140	)	$	1,858
Noncontrolling interest	124			119			101
Separate Accounts investment activity	181			116			122
Non-taxable investment income (loss)	8			12			20
Tax audit interest	1			(6		)	(14		)
State income taxes	1			(4		)	(6		)
AB Federal and foreign taxes	2			4			2
Tax settlement	77			212			—
Other	(2		)	(8		)	(10		)
Income tax (expense) benefit	$	(186	)	$	(1,695	)	$	2,073

Schedule of net deferred income taxes

The components of the net deferred income taxes are as follows:



	December 31, 2015				December 31, 2014
	Assets		Liabilities		Assets		Liabilities
	(In Millions)
Compensation and related benefits	$	110	$	—	$	150	$	—
Reserves and reinsurance	—		1,740		—		1,785
DAC	—		1,253		—		1,162
Unrealized investment gains or losses	—		134		—		614
Investments	—		1,437		—		1,490
Net operating losses and credits	424		—		512		—
Other			25		112		—
Total	$	534	$	4,589	$	774	$	5,051

Unrecognized tax benefits reconciliation

A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows:



	2015			2014			2013
	(In Millions)
Balance at January 1,	$	475		$	592		$	573
Additions for tax positions of prior years	44			56			57
Reductions for tax positions of prior years	(101		)	(181		)	(38		)
Additions for tax positions of current year	—			8			—
Balance at December 31,	$	418		$	475		$	592