Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Equity

Common Stock

The changes in the number of common stock issued, held in treasury and outstanding are as follows for the periods indicated:

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2020	85,310,598	17,353,697	67,956,901
Issuance of common stock	—	—	—
Common stock acquired	—	—	—
Stock-based compensation (1)	—	(40,036)	40,036
Balance, June 30, 2021	85,310,598	17,313,661	67,996,937

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2019	79,137,758	16,481,656	62,656,102
Issuance of common stock	6,172,840	—	6,172,840
Common stock acquired	—	1,074,413	(1,074,413)
Stock-based compensation (1)	—	(181,330)	181,330
Balance, June 30, 2020	85,310,598	17,374,739	67,935,859

(1)Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs.

Common Stock Held in Treasury

Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of common stock held in treasury are credited to additional paid-in capital. Losses resulting from the reissuance of common stock held in treasury are charged first to additional paid-in capital to the extent the Company has previously recorded gains on treasury share transactions, then to retained earnings.

In January 2019, RGA’s board of directors authorized a repurchase program for up to $400 million of RGA’s outstanding common stock. The authorization was effective immediately and does not have an expiration date. On August 3, 2021, the Company announced the lifting of the existing suspension on share repurchases. During the six months ended June 30, 2021, RGA did not repurchase any shares of common stock under this program. During the first six months of 2020, RGA repurchased 1,074,413 shares of common stock under this program for $153 million.

Accumulated Other Comprehensive Income (Loss)

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2021 and 2020 are as follows (dollars in millions):

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2020	$	(69)	$	5,500	$	(72)	$	5,359
Other comprehensive income (loss) before reclassifications	55		(1,607)		(3)		(1,555)
Amounts reclassified to (from) AOCI	—		(154)		3		(151)
Deferred income tax benefit (expense)	(6)		394		—		388
Balance, June 30, 2021	$	(20)	$	4,133	$	(72)	$	4,041

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2019	$	(92)	$	3,299	$	(70)	$	3,137
Other comprehensive income (loss) before reclassifications	(116)		1,034		(12)		906
Amounts reclassified to (from) AOCI	—		—		2		2
Deferred income tax benefit (expense)	(2)		(244)		2		(244)
Balance, June 30, 2020	$	(210)	$	4,089	$	(78)	$	3,801

(1)Includes cash flow hedges of $(40) and $(49) as of June 30, 2021 and December 31, 2020, respectively, and $(74) and $(26) as of June 30, 2020 and December 31, 2019, respectively. See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2021 and 2020 (dollars in millions):

	Amount Reclassified from AOCI
	Three months ended June 30,				Six months ended June 30,
Details about AOCI Components	2021		2020		2021		2020		Affected Line Item in Statements of Income
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities	$	26	$	11	$	183	$	(28)	Investment related gains (losses), net
Cash flow hedges – Interest rate	—		(1)		(2)		(1)		(1)
Cash flow hedges – Currency/Interest rate	(4)		—		(4)		—		(1)
Deferred policy acquisition costs attributed to unrealized gains and losses	19		131		(23)		29		(2)
Total	41		141		154		—
Provision for income taxes	(9)		(29)		(33)		(2)
Net unrealized gains (losses), net of tax	$	32	$	112	$	121	$	(2)
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	$	1	$	1	(3)
Actuarial gains (losses)	(3)		(2)		(4)		(3)		(3)
Total	(2)		(1)		(3)		(2)
Provision for income taxes	1		—		1		—
Amortization of defined benefit plans, net of tax	$	(1)	$	(1)	$	(2)	$	(2)
Total reclassifications for the period	$	31	$	111	$	119	$	(4)

(1)See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.