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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Net investment income $ 413 $ 425 $ 1,235 $ 1,204
Fee income 181 177 522 526
Premiums 5 13 24 35
Broker-dealer commission revenue 1 1 2 69
Net realized capital gains (losses):        
Total other-than-temporary impairments (3) (6) (24) (15)
Less: Portion of other-than-temporary impairments recognized in Other comprehensive income (loss) 0 0 0 1
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net (3) (6) (24) (16)
Other net realized capital gains (losses) 7 (38) 2 (198)
Total net realized capital gains (losses) 4 (44) (22) (214)
Other revenue 3 6 8 8
Total revenues 607 578 1,769 1,628
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 262 227 786 625
Operating expenses 197 183 607 469
Broker-dealer commission expense 1 1 2 69
Net amortization of Deferred policy acquisition costs and Value of business acquired 31 (28) 40 54
Total benefits and expenses 491 383 1,435 1,217
Income (loss) before income taxes 116 195 334 411
Income tax expense (benefit) 6 34 30 64
Net income (loss) $ 110 $ 161 $ 304 $ 347