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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Policy charges and fee income $ 3,450 $ 3,523 $ 3,294
Premiums 936 862 904
Net derivative gains (losses) (3,820) (1,010) 894
Net investment income (loss) 3,298 2,478 2,441
Investment gains (losses), net:      
Total other-than-temporary impairment losses 0 (37) (13)
Other investment gains (losses), net 206 41 (112)
Total investment gains (losses), net 206 4 (125)
Investment management and service fees 1,022 1,029 1,007
Other income 56 65 41
Total revenues 5,148 6,951 8,456
BENEFITS AND OTHER DEDUCTIONS      
Policyholders’ benefits 4,119 3,005 3,473
Interest credited to policyholders’ account balances 1,127 1,002 921
Compensation and benefits 335 422 327
Commissions 629 620 628
Interest expense 4 34 23
Increase to expense line item: 452 431 900
Other operating costs and expenses 912 2,918 635
Total benefits and other deductions 7,578 8,432 6,907
Income (loss) from continuing operations, before income taxes (2,430) (1,481) 1,549
Income tax (expense) benefit from continuing operations 584 446 1,210
Net income (loss) from continuing operations (1,846) (1,035) 2,759
Less: Net (income) loss from discontinued operations, net of taxes and noncontrolling interest 0 (114) (85)
Net income (loss) (1,846) (921) 2,844
Less: Net income (loss) attributable to the noncontrolling interest 5 (3) 1
Net income (loss) attributable to Equitable Life $ (1,851) $ (918) $ 2,843