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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Premiums $ 218 $ 228 $ 653 $ 607
Universal life and investment-type product policy fees 826 811 2,447 2,381
Net investment income 828 732 2,400 2,231
Other revenues 73 64 222 263
Total net investment gains (losses) (42) 21 (120) (34)
Net derivative gains (losses) (665) (162) (1,230) (1,064)
Total revenues 1,238 1,694 4,372 4,384
Expenses        
Policyholder benefits and claims 805 1,051 2,312 2,721
Interest credited to policyholder account balances 265 269 785 811
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization 66 50 582 697
Other expenses 509 446 1,353 1,342
Total expenses 1,645 1,816 5,032 5,571
Income (loss) before provision for income tax (407) (122) (660) (1,187)
Provision for income tax expense (benefit) (108) 567 (195) 131
Net income (loss) (299) (689) (465) (1,318)
Comprehensive income (loss) $ (554) $ (1,285) $ (1,663) $ (1,301)