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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $22,173 as of 2018 and $21,774 as of 2017) $ 22,912 $ 23,141
Fixed maturities, at fair value using the fair value option 933 941
Equity securities, at fair value (cost of $45 as of 2018 and 2017) 58 60
Short-term investments 75 25
Mortgage loans on real estate, net of valuation allowance of $1 as of 2018 and 2017 4,891 4,910
Policy loans 212 214
Limited partnerships/corporations 425 411
Derivatives 148 136
Securities pledged (amortized cost of $776 as of 2018 and $864 as of 2017) 833 960
Other investments 22 0
Total investments 30,509 30,798
Cash and cash equivalents 344 288
Short-term investments under securities loan agreements, including collateral delivered 591 765
Accrued investment income 318 304
Premiums receivable and reinsurance recoverable 1,484 1,496
Deferred policy acquisition costs, Value of business acquired and Sales inducements to contract owners 911 766
Notes receivable from affiliate 175 175
Short-term loan affiliate 0 80
Due from affiliates 48 60
Property and equipment 64 64
Other assets 173 140
Assets held in separate accounts 73,489 73,036
Total assets 108,106 107,972
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 29,789 29,669
Payable for securities purchased 195 79
Payables under securities loan agreements, including collateral held 694 845
Long-term debt 4 5
Due to affiliates 66 61
Derivatives 102 85
Current income tax payable to Parent 6 23
Deferred income taxes 117 187
Other liabilities 272 401
Liabilities related to separate accounts 73,489 73,036
Total liabilities 104,734 104,391
Commitments and Contingencies (Note 9)
Shareholder's equity:    
Common stock (100,000 shares authorized, 55,000 issued and outstanding as of 2018 and 2017; $50 par value per share) 3 3
Additional paid-in capital 2,730 2,730
Accumulated other comprehensive income (loss) 438 818
Retained earnings (deficit) 201 30
Total shareholder's equity 3,372 3,581
Total liabilities and shareholder's equity $ 108,106 $ 107,972