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Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)

Shareholder’s equity included the following components of AOCI as of the dates indicated:
 
March 31,
 
2020
 
2019
Fixed maturities, net of impairments
$
624

 
$
1,030

Derivatives(1)
190

 
126

DAC/VOBA and Sales inducements adjustment on available-for-sale securities
(196
)
 
(293
)
Premium deficiency reserve adjustment
(110
)
 
(86
)
Unrealized capital gains (losses), before tax
508

 
777

Deferred income tax asset (liability)
21

 
(35
)
Unrealized capital gains (losses), after tax
529

 
742

Pension and other postretirement benefits liability, net of tax
4

 
5

AOCI
$
533

 
$
747


(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 March 31, 2020, the portion of the AOCI that is expected to be reclassified into earnings within the next twelve months is $23.
 
 
 
 
 
 

Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations were as follows for the periods indicated:
 
Three Months Ended March 31, 2020
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
(1,504
)
 
$
315

 
$
(1,189
)
Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
15

 
(3
)
 
12

DAC/VOBA and Sales inducements
355

(1) 
(74
)
 
281

Premium deficiency reserve adjustment
101

 
(21
)
 
80

Change in unrealized gains/losses on available-for-sale securities
(1,033
)
 
217

 
(816
)
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
79

(2) 
(17
)
 
62

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
73

 
(16
)
 
57

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

 
—

 
—

Change in pension and other postretirement benefits liability
—

 
—

 
—

Change in Other comprehensive income (loss)
$
(960
)
 
$
201

 
$
(759
)

(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 March 31, 2019
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Available-for-sale securities:
 
 
 
 
 
Fixed maturities
$
887

 
$
(184
)
 
$
703

Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations
15

 
(3
)
 
12

DAC/VOBA and Sales inducements
(220
)
(1) 
46

 
(174
)
Premium deficiency reserve adjustment
(35
)
 
7

 
(28
)
Change in unrealized gains/losses on available-for-sale securities
647

 
(134
)
 
513

 
 
 
 
 
 
Derivatives:
 
 
 
 
 
Derivatives
(8
)
(2) 
2

 
(6
)
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
(14
)
 
3

 
(11
)
 
 
 
 
 
 
Pension and other postretirement benefits liability:
 
 
 
 
 
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations
—

 
—

 
—

Change in pension and other postretirement benefits liability
—

 
—

 
—

Change in Other comprehensive income (loss)
$
633

 
$
(131
)
 
$
502

(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.