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Equity (Tables)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)
Information regarding changes in the balances of each component of AOCI was as follows:
 
Three Months Ended March 31, 2020
 
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
 
Unrealized
Gains (Losses)
on Derivatives
 
Foreign
Currency
Translation
Adjustments
 
Total
 
(In millions)
Balance at December 31, 2019
$
3,066

 
$
163

 
$
(14
)
 
$
3,215

OCI before reclassifications (2)
(1,509
)
 
553

 
(6
)
 
(962
)
Deferred income tax benefit (expense)
318

 
(116
)
 
—

 
202

AOCI before reclassifications, net of income tax
1,875

 
600

 
(20
)
 
2,455

Amounts reclassified from AOCI
(10
)
 
(2
)
 
—

 
(12
)
Deferred income tax benefit (expense)
2

 
—

 
—

 
2

Amounts reclassified from AOCI, net of income tax
(8
)
 
(2
)
 
—

 
(10
)
Balance at March 31, 2020
$
1,867

 
$
598

 
$
(20
)
 
$
2,445

 
Three Months Ended March 31, 2019
 
Unrealized
Investment Gains
(Losses), Net of
Related Offsets (1)
 
Unrealized
Gains (Losses)
on Derivatives
 
Foreign
Currency
Translation
Adjustments
 
Total
 
(In millions)
Balance at December 31, 2018
$
564

 
$
180

 
$
(26
)
 
$
718

OCI before reclassifications
1,222

 
(34
)
 
—

 
1,188

Deferred income tax benefit (expense)
(257
)
 
7

 
—

 
(250
)
AOCI before reclassifications, net of income tax
1,529

 
153

 
(26
)
 
1,656

Amounts reclassified from AOCI
28

 
(26
)
 
—

 
2

Deferred income tax benefit (expense)
(6
)
 
6

 
—

 
—

Amounts reclassified from AOCI, net of income tax
22

 
(20
)
 
—

 
2

Balance at March 31, 2019
$
1,551

 
$
133

 
$
(26
)
 
$
1,658

_______________
(1)
See Note 4 for information on offsets to investments related to future policy benefits, DAC, VOBA and DSI.
(2)
Includes $3 million related to the adoption of ASU 2016-13, see Note 1.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Information regarding amounts reclassified out of each component of AOCI was as follows:
AOCI Components
 
Amounts Reclassified from AOCI
 
Consolidated Statements of Operations and Comprehensive Income (Loss) Locations
 
 
Three Months Ended 
 March 31,
 
 
 
 
2020
 
2019
 
 
 
 
(In millions)
 
 
Net unrealized investment gains (losses):
 
 
 
 
 
 
Net unrealized investment gains (losses)
 
$
12

 
$
(24
)
 
Net investment gains (losses)
Net unrealized investment gains (losses)
 
(2
)
 
(4
)
 
Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax
 
10

 
(28
)
 
 
Income tax (expense) benefit
 
(2
)
 
6

 
 
Net unrealized investment gains (losses), net of income tax
 
8

 
(22
)
 
 
Unrealized gains (losses) on derivatives - cash flow hedges:
 
 
 
 
 
 
Interest rate swaps
 
1

 
22

 
Net derivative gains (losses)
Interest rate swaps
 
1

 
1

 
Net investment income
Foreign currency swaps
 
—

 
3

 
Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax
 
2

 
26

 
 
Income tax (expense) benefit
 
—

 
(6
)
 
 
Gains (losses) on cash flow hedges, net of income tax
 
2

 
20

 
 
Total reclassifications, net of income tax
 
$
10

 
$
(2
)