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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Net investment income $ 1,623 $ 1,520 $ 1,501
Fee income 695 713 725
Premiums 41 48 870
Broker-dealer commission revenue 69 170 175
Net realized capital gains (losses):      
Total other-than-temporary impairments 18 19 19
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) 2 (7) 0
Net other-than-temporary impairments recognized in earnings (20) (12) (19)
Other net realized capital gains (losses) (222) (188) (194)
Total net realized capital gains (losses) (242) (200) (213)
Other revenue 13 0 (2)
Total revenues 2,199 2,251 3,056
Benefits and expenses:      
Interest credited and other benefits to contract owners/policyholders 828 958 1,765
Operating expenses 647 801 815
Broker-dealer commission expense 69 170 175
Net amortization of Deferred policy acquisition costs and Value of business acquired 86 233 167
Total benefits and expenses 1,630 2,162 2,922
Income (loss) before income taxes 569 89 134
Income tax expense (benefit) 74 (121) 21
Net income (loss) $ 495 $ 210 $ 113