Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table sets forth the significant components of “Realized investment gains (losses), net” that are included in adjusted operating income and, as a result, are reflected as adjustments to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income:

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Net gains (losses) from(1):
Terminated hedges of foreign currency earnings	$	39	$	284	$	293
Current period yield adjustments	$	466	$	475	$	476
Principal source of earnings	$	74	$	123	$	100

 __________

(1) In addition to the items in the table above, “Realized investment gains (losses), net, and related charges and adjustments” also includes an adjustment to reflect “Realized investment gains (losses), net” related to divested businesses as results of “Divested businesses,” discussed below.

The table below reconciles adjusted operating income before income taxes to income from continuing operations before income taxes and equity in earnings of operating joint ventures:

	Year ended December 31,
	2016			2015			2014
	(in millions)
Adjusted operating income before income taxes by segment:
Individual Annuities	$	1,765		$	1,797		$	1,467
Retirement	1,012			931			1,215
Asset Management	787			779			785
Total U.S. Retirement Solutions and Investment Management division	3,564			3,507			3,467
Individual Life	79			635			498
Group Insurance	220			176			23
Total U.S. Individual Life and Group Insurance division	299			811			521
International Insurance	3,117			3,226			3,252
Total International Insurance division	3,117			3,226			3,252
Corporate and Other operations	(1,581		)	(1,313		)	(1,348		)
Total Corporate and Other	(1,581		)	(1,313		)	(1,348		)
Total segment adjusted operating income before income taxes	5,399			6,231			5,892
Reconciling Items:
Realized investment gains (losses), net, and related adjustments	989			2,258			(3,588		)
Charges related to realized investment gains (losses), net	(466		)	(679		)	(542		)
Investment gains (losses) on trading account assets supporting insurance liabilities, net	(17		)	(524		)	339
Change in experience-rated contractholder liabilities due to asset value changes	21			433			(294		)
Divested businesses:
Closed Block division(1)	(132		)	58			0
Other divested businesses	(84		)	(66		)	167
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(5		)	58			44
Subtotal(2)	5,705			7,769			2,018
Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures for Closed Block Business(3)	0			0			(259		)
Consolidated income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures	$	5,705		$	7,769		$	1,759

__________

(1) As a result of the Class B Repurchase, for the years ended December 31, 2016 and 2015, the Closed Block, along with certain related assets and liabilities, comprises the Closed Block division, which is accounted for as a divested business that is reported separately from the divested businesses that are included in Corporate and Other operations.

(2) Amounts for the year ended December 31, 2014 represent “Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures” of the Company’s former Financial Services Businesses, reflecting the existence of two classes of common stock and the separate reporting of the Financial Services Businesses and the Closed Block Business for each period.

(3) Reflects the existence of two classes of common stock and the separate reporting of the Company’s former Financial Services Businesses and the Closed Block Business for the year ended December 31, 2014.

The following table sets forth certain other items excluded from adjusted operating income and reflected as an adjustment to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income:

	Year Ended December 31,
	2016			2015			2014
	(in millions)
Net gains (losses) from:
Other trading account assets	$	(95	)	$	(94	)	$	(21	)
Foreign currency exchange movements	$	(154	)	$	69		$	(3,023	)
Other activities	$	(18	)	$	9		$	13

Schedule of Segment Reporting Information, by Segment

The tables below present certain financial information for the Company’s reportable segments:

	As of December 31,
	2016		2015(1)
	(in millions)
Total Assets:
Individual Annuities	$	170,861	$	169,447
Retirement	173,509		171,183
Asset Management	49,255		54,491
Total U.S. Retirement Solutions and Investment Management division	393,625		395,121
Individual Life	77,524		71,856
Group Insurance	40,642		39,344
Total U.S. Individual Life and Group Insurance division	118,166		111,200
International Insurance	197,119		175,153
Total International Insurance division	197,119		175,153
Corporate and Other operations	13,001		13,654
Total Corporate and Other	13,001		13,654
Closed Block	62,051		62,127
Total Closed Block division	62,051		62,127
Total per Consolidated Statements of Financial Position	$	783,962	$	757,255

__________

(1) Prior period amounts are presented on a basis consistent with the current period presentation, reflecting the adoption of ASU 2015-03.

	Year Ended December 31, 2016
	Revenues			Net Investment Income			Policyholders’ Benefits		Interest Credited to Policyholders’ Account Balances			Dividends to Policyholders		Interest Expense		Amortization of DAC
	(in millions)
Individual Annuities	$	4,666		$	698		$	306	$	362		$	0	$	71	$	484
Retirement	12,876			4,263			9,328		1,473			0		19		33
Asset Management	2,961			80			0		0			0		15		15
Total U.S. Retirement Solutions and Investment Management division	20,503			5,041			9,634		1,835			0		105		532
Individual Life	5,355			1,822			2,750		680			35		583		115
Group Insurance	5,343			608			4,032		263			0		5		6
Total U.S. Individual Life and Group Insurance division	10,698			2,430			6,782		943			35		588		121
International Insurance	21,009			4,759			13,183		920			49		8		1,068
Total International Insurance division	21,009			4,759			13,183		920			49		8		1,068
Corporate and Other operations	(636		)	465			26		0			0		614		(49		)
Total Corporate and Other	(636		)	465			26		0			0		614		(49		)
Total	51,574			12,695			29,625		3,698			84		1,315		1,672
Reconciling items:
Realized investment gains (losses), net, and related adjustments	989			(31		)	0		0			0		0		0
Charges related to realized investment gains (losses), net	19			0			131		(50		)	0		0		168
Investment gains (losses) on trading account assets supporting insurance liabilities, net	(17		)	0			0		0			0		0		0
Change in experience-rated contractholder liabilities due to assets value changes	0			0			0		(21		)	0		0		0
Divested businesses:
Closed Block division(1)	5,669			2,578			3,282		134			1,941		2		37
Other divested businesses	602			278			594		0			0		3		0
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(57		)	0			0		0			0		0		0
Total per Consolidated Statements of Operations	$	58,779		$	15,520		$	33,632	$	3,761		$	2,025	$	1,320	$	1,877

__________

(1) As a result of the Class B Repurchase, for the year ended December 31, 2016, the Closed Block, along with certain related assets and liabilities, comprises the Closed Block division, which is accounted for as a divested business that is reported separately from the divested businesses that are included in Corporate and Other operations.

	Year Ended December 31, 2015
	Revenues			Net Investment Income		Policyholders’ Benefits		Interest Credited to Policyholders’ Account Balances			Dividends to Policyholders			Interest Expense		Amortization of DAC
	(in millions)
Individual Annuities	$	4,695		$	603	$	314	$	363		$	0		$	69	$	465
Retirement	11,821			4,082		8,352		1,441			(2		)	25		66
Asset Management	2,944			111		0		0			0			10		19
Total U.S. Retirement Solutions and Investment Management division	19,460			4,796		8,666		1,804			(2		)	104		550
Individual Life	5,233			1,669		2,245		644			33			550		133
Group Insurance	5,143			586		3,868		257			0			8		6
Total U.S. Individual Life and Group Insurance division	10,376			2,255		6,113		901			33			558		139
International Insurance	19,364			4,357		11,821		880			51			5		989
Total International Insurance division	19,364			4,357		11,821		880			51			5		989
Corporate and Other operations	(570		)	550		16		0			0			635		(47		)
Total Corporate and Other	(570		)	550		16		0			0			635		(47		)
Total	48,630			11,958		26,616		3,585			82			1,302		1,631
Reconciling items:
Realized investment gains (losses), net, and related adjustments	2,258			1		0		0			0			0		0
Charges related to realized investment gains (losses), net	(31		)	0		39		191			0			0		452
Investment gains (losses) on trading account assets supporting insurance liabilities, net	(524		)	0		0		0			0			0		0
Change in experience-rated contractholder liabilities due to assets value changes	0			0		0		(433		)	0			0		0
Divested businesses:
Closed Block division(1)	6,160			2,653		3,365		135			2,130			1		37
Other divested businesses	638			217		607		1			0			3		0
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(12		)	0		0		0			0			0		0
Total per Consolidated Statements of Operations	$	57,119		$	14,829	$	30,627	$	3,479		$	2,212		$	1,306	$	2,120

__________

(1) As a result of the Class B Repurchase, for the year ended December 31, 2015, the Closed Block, along with certain related assets and liabilities, comprises the Closed Block division, which is accounted for as a divested business that is reported separately from the divested businesses that are included in Corporate and Other operations.

	Year Ended December 31, 2014
	Revenues			Net Investment Income			Policyholders’ Benefits		Interest Credited to Policyholders’ Account Balances		Dividends to Policyholders			Interest Expense		Amortization of DAC
	(in millions)
Individual Annuities	$	4,710		$	630		$	481	$	429	$	0		$	107	$	543
Retirement	12,077			4,209			8,336		1,476		0			25		31
Asset Management	2,840			120			0		0		0			10		20
Total U.S. Retirement Solutions and Investment Management division	19,627			4,959			8,817		1,905		0			142		594
Individual Life	5,226			1,620			2,108		606		32			533		345
Group Insurance	5,357			613			4,215		248		0			9		8
Total U.S. Individual Life and Group Insurance division	10,583			2,233			6,323		854		32			542		353
International Insurance	20,066			4,434			12,234		961		50			4		961
Total International Insurance division	20,066			4,434			12,234		961		50			4		961
Corporate and Other operations	(632		)	420			83		0		0			620		(55		)
Total Corporate and Other	(632		)	420			83		0		0			620		(55		)
Total	49,644			12,046			27,457		3,720		82			1,308		1,853
Reconciling items:
Realized investment gains (losses), net, and related adjustments	(3,588		)	(5		)	0		0		0			0		0
Charges related to realized investment gains (losses), net	55			0			295		111		(1		)	0		83
Investment gains (losses) on trading account assets supporting insurance liabilities, net	339			0			0		0		0			0		0
Change in experience-rated contractholder liabilities due to assets value changes	0			0			0		294		0			0		0
Divested businesses	762			208			509		2		0			3		0
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(13		)	0			0		0		0			0		0
Subtotal	47,199			12,249			28,261		4,127		81			1,311		1,936
Closed Block Business(1)	6,906			3,007			3,326		136		2,635			597		37
Total per Consolidated Statements of Operations	$	54,105		$	15,256		$	31,587	$	4,263	$	2,716		$	1,908	$	1,973

 __________

(1) Reflects the existence of two classes of common stock and the separate reporting of the Company’s former Financial Services Businesses and the Closed Block Business for the year ended December 31, 2014.

Schedule Of Revenues From Domestic And Foreign Operations

Revenues, calculated in accordance with U.S. GAAP, for the years ended December 31, include the following associated with the Company’s foreign and domestic operations:

	2016		2015		2014
	(in millions)
Domestic operations	$	36,079	$	36,151	$	35,793
Foreign operations, total	$	22,700	$	20,968	$	18,312
Foreign operations, Japan	$	19,768	$	18,177	$	15,461
Foreign operations, Korea	$	1,439	$	1,462	$	1,484

Schedule Of Intersegment Revenues

The Asset Management segment revenues include intersegment revenues, primarily consisting of asset-based management and administration fees, for the years ended December 31, as follows:

	2016		2015		2014
	(in millions)
Asset Management segment intersegment revenues	$	682	$	682	$	645