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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Net investment income $ 397 $ 378 $ 779 $ 757
Fee income 175 177 349 367
Premiums 8 9 22 24
Broker-dealer commission revenue 27 42 68 86
Net realized capital gains (losses):        
Total other-than-temporary impairments 0 0 (9) 0
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) 1 0 1 0
Net other-than-temporary impairments recognized in earnings (1) 0 (10) 0
Other net realized capital gains (losses) (82) (47) (160) (103)
Total net realized capital gains (losses) (83) (47) (170) (103)
Other revenue 2 2 2 2
Total revenues 526 561 1,050 1,133
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 200 245 398 480
Operating expenses 178 192 286 411
Broker-dealer commission expense 27 42 68 86
Net amortization of Deferred policy acquisition costs and Value of business acquired 17 134 82 136
Total benefits and expenses 422 613 834 1,113
Income (loss) before income taxes 104 (52) 216 20
Income tax expense (benefit) 5 (26) 30 (8)
Net income (loss) $ 99 $ (26) $ 186 $ 28