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Deferred Policy Acquisition Costs and Value of Business Acquired (Tables)
 12 Months Ended
Dec. 31, 2019
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]  
Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of DAC and VOBA for the periods indicated:
 
DAC
 
VOBA
 
Total
Balance at January 1, 2017
$
477

 
$
537

 
$
1,014

Deferrals of commissions and expenses
75

 
5

 
80

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(76
)
 
(83
)
 
(159
)
Unlocking (1)
(61
)
 
(93
)
 
(154
)
Interest accrued
37

 
43

(2 
) 
80

Net amortization included in the Consolidated Statements of Operations
(100
)
 
(133
)
 
(233
)
Change in unrealized capital gains/losses on available-for-sale securities
(67
)
 
(42
)
 
(109
)
Balance as of December 31, 2017
385

 
367

 
752

Deferrals of commissions and expenses
55

 
6

 
61

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(75
)
 
(72
)
 
(147
)
Unlocking (1)
(26
)
 
13

 
(13
)
Interest accrued
35

 
39

(2 
) 
74

Net amortization included in the Consolidated Statements of Operations
(66
)
 
(20
)
 
(86
)
Change in unrealized capital gains/losses on available-for-sale securities
162

 
198

 
360

Balance as of December 31, 2018
536

 
551

 
1,087

Deferrals of commissions and expenses
43

 
6

 
49

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(72
)
 
(66
)
 
(138
)
Unlocking (1)
2

 
(2
)
 
—

Interest accrued
35

 
38

(2 
) 
73

Net amortization included in the Consolidated Statements of Operations
(35
)
 
(30
)
 
(65
)
Change in unrealized capital gains/losses on available-for-sale securities
(256
)
 
(222
)
 
(478
)
Balance as of December 31, 2019
$
288

 
$
305

 
$
593

(1) DAC/VOBA unlocking includes the impact of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking. Additionally, the 2018 amounts include unfavorable unlocking of DAC and VOBA of $25 and $26 respectively, associated with an update to assumptions related to customer consents of changes to guaranteed minimum interest rate provisions. The 2017 amounts include unfavorable unlocking for DAC and VOBA of $80 and $140, respectively, associated with consent acceptances received from customers and expected future acceptances of customer consents to changes related to guaranteed minimum interest rate provisions of certain retirement plan contracts with fixed investment options.
(2) 
Interest accrued at the following rates for VOBA: 5.5% to 7.0% during 2019, 2018 and 2017.

Intangible Assets Arising from Insurance Contracts Acquired in Business Combination

The estimated amount of VOBA amortization expense, net of interest, during the next five years is presented in the following table. Actual amortization incurred during these years may vary as assumptions are modified to incorporate actual results and/or changes in best estimates of future results.
Year
 
Amount
2020
 
$
18

2021
 
16

2022
 
14

2023
 
14

2024
 
14