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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Premiums $ 215 $ 209 $ 435 $ 379
Universal life and investment-type product policy fees 797 784 1,621 1,570
Net investment income 780 740 1,572 1,499
Other revenues 70 137 149 199
Total net investment gains (losses) (74) 0 (78) (55)
Net derivative gains (losses) (278) (89) (565) (902)
Total revenues 1,510 1,781 3,134 2,690
Expenses        
Policyholder benefits and claims 797 812 1,507 1,670
Interest credited to policyholder account balances 260 275 520 542
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization 235 689 516 647
Other expenses 447 460 844 896
Total expenses 1,739 2,236 3,387 3,755
Income (loss) before provision for income tax (229) (455) (253) (1,065)
Provision for income tax expense (benefit) (65) (191) (87) (436)
Net income (loss) (164) (264) (166) (629)
Comprehensive income (loss) $ (284) $ 200 $ (1,109) $ (16)