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Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)

Shareholder’s equity included the following components of AOCI as of the dates indicated:
 
September 30,
 
2019
 
2018
Fixed maturities, net of OTTI
$
2,211

 
$
312

Derivatives(1)
159

 
117

DAC/VOBA and Sales inducements adjustment on available-for-sale securities
(593
)
 
(114
)
Premium deficiency reserve adjustment
(216
)
 
(58
)
Unrealized capital gains (losses), before tax
1,561

 
257

Deferred income tax asset (liability)
(199
)
 
(59
)
Unrealized capital gains (losses), after tax
1,362

 
198

Pension and other postretirement benefits liability, net of tax
4

 
3

AOCI
$
1,366

 
$
201


(1) Gains and losses reported in Accumulated Other Comprehensive Income (AOCI) from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of September 30, 2019, the portion of the AOCI that is expected to be reclassified into earnings within the next twelve months is $25.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
 
Three Months Ended September 30, 2019
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
540

 
$
(115
)
 
$
425

Other
—

 
—

 
—

OTTI
—

 
—

 
—

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
(44
)
 
10

 
(34
)
DAC/VOBA and Sales inducements
(134
)
 
28

 
(106
)
Premium deficiency reserve adjustment
(98
)
 
21

 
(77
)
Change in unrealized gains/losses on available-for-sale securities
264

 
(56
)
 
208

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
27

(1) 
(6
)
 
21

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(5
)
 
1

 
(4
)
Change in unrealized gains/losses on derivatives
22

 
(5
)
 
17

 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
—

 
1

 
1

Change in pension and other postretirement benefits liability
—

 
1

 
1

Change in Other comprehensive income (loss)
$
286

 
$
(60
)
 
$
226


(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.







 
Nine Months Ended September 30, 2019
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
2,114

 
$
(444
)
 
$
1,670

Other
—

 
—

 
—

OTTI
1

 
—

 
1

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
(31
)
 
7

 
(24
)
DAC/VOBA and Sales inducements
(520
)
(1) 
109

 
(411
)
Premium deficiency reserve adjustment
(165
)
 
35

 
(130
)
Change in unrealized gains/losses on available-for-sale securities
1,399

 
(293
)
 
1,106

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
36

(2) 
(8
)
 
28

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(17
)
 
4

 
(13
)
Change in unrealized gains/losses on derivatives
19

 
(4
)
 
15

 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
(1
)
 
1

 
—

Change in pension and other postretirement benefits liability
(1
)
 
1

 
—

Change in Other comprehensive income (loss)
$
1,417

 
$
(296
)
 
$
1,121


(1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information.
(2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.



 
Three Months Ended September 30, 2018
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
(124
)
 
$
35

 
$
(89
)
Other
—

 
—

 
—

OTTI
1

 
(1
)
 
—

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
9

 
(2
)
 
7

DAC/VOBA and Sales inducements
31

 
(7
)
 
24

Premium deficiency reserve adjustment
3

 
(1
)
 
2

Change in unrealized gains/losses on available-for-sale securities
(80
)
 
24

 
(56
)
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
4

(1) 
(1
)
 
3

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(6
)
 
1

 
(5
)
Change in unrealized gains/losses on derivatives
(2
)
 
—

 
(2
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
(1
)
 
—

 
(1
)
Change in pension and other postretirement benefits liability
(1
)
 
—

 
(1
)
Change in Other comprehensive income (loss)
$
(83
)
 
$
24

 
$
(59
)

(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.
















 
Nine Months Ended September 30, 2018
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
(1,188
)
 
$
259

(3) 
$
(929
)
Other
(5
)
 
1

 
(4
)
OTTI
8

 
(2
)
 
6

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
42

 
(9
)
 
33

DAC/VOBA and Sales inducements
318

(1) 
(67
)
 
251

Premium deficiency reserve adjustment
57

 
(12
)
 
45

Change in unrealized gains/losses on available-for-sale securities
(768
)
 
170

 
(598
)
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
11

(2) 
(2
)
 
9

Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations
(18
)
 
4

 
(14
)
Change in unrealized gains/losses on derivatives
(7
)
 
2

 
(5
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
(2
)
 
—

 
(2
)
Change in pension and other postretirement benefits liability
(2
)
 
—

 
(2
)
Change in Other comprehensive income (loss)
$
(777
)
 
$
172

 
$
(605
)
(1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information.
(2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.
(3) Amount includes $12 valuation allowance. See the Income Taxes Note to these Condensed Consolidated Financial Statements for additional information.