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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