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Deferred Policy Acquisition Costs
 6 Months Ended
Jun. 30, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]  
Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs

A progression of deferred policy acquisition costs is presented below (in millions):
 
P&C
 
 
Annuity and Other
 
 
 
 
Deferred
 
 
Deferred
 
Sales
 
 
 
 
 
 
 
 
 
 
Consolidated
 
Costs
 
 
Costs
 
Inducements
 
PVFP
 
Subtotal
 
Unrealized (*)
 
Total
 
 
Total
Balance at March 31, 2019
$
312

 
 
$
1,336

 
$
84

 
$
40

 
$
1,460

 
$
(325
)
 
$
1,135

 
 
$
1,447

Additions
194

 
 
56

 
—

 
—

 
56

 
—

 
56

 
 
250

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Periodic amortization
(175
)
 
 
(19
)
 
(4
)
 
(2
)
 
(25
)
 
—

 
(25
)
 
 
(200
)
Included in realized gains
—

 
 
—

 
1

 
—

 
1

 
—

 
1

 
 
1

Foreign currency translation
(1
)
 
 
—

 
—

 
—

 
—

 
—

 
—

 
 
(1
)
Change in unrealized
—

 
 
—

 
—

 
—

 
—

 
(294
)
 
(294
)
 
 
(294
)
Balance at June 30, 2019
$
330

 
 
$
1,373

 
$
81

 
$
38

 
$
1,492

 
$
(619
)
 
$
873

 
 
$
1,203

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at March 31, 2018
$
279

 
 
$
1,208

 
$
97

 
$
47

 
$
1,352

 
$
(214
)
 
$
1,138

 
 
$
1,417

Additions
181

 
 
70

 
1

 
—

 
71

 
—

 
71

 
 
252

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
Periodic amortization
(160
)
 
 
(66
)
 
(5
)
 
(2
)
 
(73
)
 
—

 
(73
)
 
 
(233
)
Annuity unlocking
—

 
 
28

 
1

 
—

 
29

 
—

 
29

 
 
29

Included in realized gains
—

 
 
3

 
—

 
—

 
3

 
—

 
3

 
 
3

Foreign currency translation
(2
)
 
 
—

 
—

 
—

 
—

 
—

 
—

 
 
(2
)
Change in unrealized
—

 
 
—

 
—

 
—

 
—

 
116

 
116

 
 
116

Balance at June 30, 2018
$
298

 
 
$
1,243

 
$
94

 
$
45

 
$
1,382

 
$
(98
)
 
$
1,284

 
 
$
1,582

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2018
$
299

 
 
$
1,285

 
$
86

 
$
42

 
$
1,413

 
$
(30
)
 
$
1,383

 
 
$
1,682

Additions
381

 
 
120

 
1

 
—

 
121

 
—

 
121

 
 
502

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Periodic amortization
(350
)
 
 
(34
)
 
(7
)
 
(4
)
 
(45
)
 
—

 
(45
)
 
 
(395
)
Included in realized gains
—

 
 
2

 
1

 
—

 
3

 
—

 
3

 
 
3

Foreign currency translation
—

 
 
—

 
—

 
—

 
—

 
—

 
—

 
 
—

Change in unrealized
—

 
 
—

 
—

 
—

 
—

 
(589
)
 
(589
)
 
 
(589
)
Balance at June 30, 2019
$
330

 
 
$
1,373

 
$
81

 
$
38

 
$
1,492

 
$
(619
)
 
$
873

 
 
$
1,203

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
$
270

 
 
$
1,217

 
$
102

 
$
49

 
$
1,368

 
$
(422
)
 
$
946

 
 
$
1,216

Additions
343

 
 
127

 
1

 
—

 
128

 
—

 
128

 
 
471

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Periodic amortization
(314
)
 
 
(135
)
 
(10
)
 
(4
)
 
(149
)
 
—

 
(149
)
 
 
(463
)
Annuity unlocking
—

 
 
28

 
1

 
—

 
29

 
—

 
29

 
 
29

Included in realized gains
—

 
 
6

 
—

 
—

 
6

 
—

 
6

 
 
6

Foreign currency translation
(1
)
 
 
—

 
—

 
—

 
—

 
—

 
—

 
 
(1
)
Change in unrealized
—

 
 
—

 
—

 
—

 
—

 
324

 
324

 
 
324

Balance at June 30, 2018
$
298

 
 
$
1,243

 
$
94

 
$
45

 
$
1,382

 
$
(98
)
 
$
1,284

 
 
$
1,582


(*)
Adjustments to DPAC related to net unrealized gains/losses on securities and cash flow hedges.

The present value of future profits (“PVFP”) amounts in the table above are net of $152 million and $148 million of accumulated amortization at June 30, 2019 and December 31, 2018, respectively.