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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Net investment income $ 385 $ 428 $ 824 $ 822
Fee income 202 217 424 422
Premiums 7 10 12 19
Broker-dealer commission revenue 0 0 1 1
Net realized capital gains (losses):        
Total impairments (24) (1) (31) (21)
Other net realized capital gains (losses) (5) (1) (90) (5)
Total net realized capital gains (losses) (29) (2) (121) (26)
Other revenue 0 3 (1) 9
Total revenues 565 656 1,139 1,247
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 213 269 422 524
Operating expenses 243 253 541 538
Broker-dealer commission expense 0 0 1 1
Net amortization of Deferred policy acquisition costs and Value of business acquired 6 3 43 9
Total benefits and expenses 462 525 1,007 1,072
Income (loss) before income taxes 103 131 132 175
Income tax expense (benefit) 10 16 5 15
Net income (loss) $ 93 $ 115 $ 127 $ 160