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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Premiums $ 847 $ 869 $ 828
Universal life and investment-type product policy fees 2,982 3,190 3,156
Net investment income 3,486 3,235 2,973
Other revenues 266 287 336
Net investment gains (losses) 92 (204) (27)
Net derivative gains (losses) (2,046) 745 (1,468)
Total revenues 5,627 8,122 5,798
Expenses      
Policyholder benefits and claims 3,538 3,180 3,594
Interest credited to policyholder account balances 1,031 1,047 1,076
Amortization of DAC and VOBA 395 1,011 916
Other expenses 1,809 1,763 1,833
Total expenses 6,773 7,001 7,419
Income (loss) before provision for income tax (1,146) 1,121 (1,621)
Provision for income tax expense (benefit) (338) 153 (738)
Net income (loss) (808) 968 (883)
Less: Net income (loss) attributable to noncontrolling interests 1 1 0
Net income (loss) attributable to parent $ (809) $ 967 $ (883)