Long-Term Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Principal and Carrying Amounts of Debt

Principal and Carrying Amounts of Debt

	As of December 31, 2017						As of December 31, 2016
	Principal			Carrying Value			Principal		Carrying Value
	(in millions)
AGUS:
7% Senior Notes (1)	$	200		$	197		$	200	$	197
5% Senior Notes (1)	500			496			500		496
Series A Enhanced Junior Subordinated Debentures (2)	150			150			150		150
Total AGUS	850			843			850		843
AGMH(3):
67/8% QUIBS (1)	100			70			100		69
6.25% Notes (1)	230			142			230		141
5.6% Notes (1)	100			57			100		56
Junior Subordinated Debentures (2)	300			192			300		187
Total AGMH	730			461			730		453
AGM(3):
AGM Notes Payable	6			6			9		10
Total AGM	6			6			9		10
Purchased debt (4)	(28		)	(18		)	—		—
Total	$	1,558		$	1,292		$	1,589	$	1,306

 ____________________

(1) AGL fully and unconditionally guarantees these obligations.

(2) Guaranteed by AGL on a junior subordinated basis.

(3) Carrying amounts are different than principal amounts due primarily to fair value adjustments at the AGMH acquisition date, which are accreted or amortized into interest expense over the remaining terms of these obligations.

(4) In 2017, AGUS purchased $28 million principal amount of AGMH's outstanding Junior Subordinated Debentures. The Company recognized a $9 million loss on extinguishment of debt, which is included in other income.

Expected Maturity Schedule of Debt

Expected Maturity Schedule of Debt

As of December 31, 2017

	AGUS		AGMH		AGM		Total (1)
	(in millions)
2018-2022	$	—	$	—	$	5	$	5
2023-2042	700		—		1		701
2043-2062	—		—		—		—
2063-2082	150		300		—		450
Thereafter	—		430		—		430
Total	$	850	$	730	$	6	$	1,586

Schedule of Interest Expense

Interest Expense

	Year Ended December 31,
	2017			2016		2015
	(in millions)
AGUS:
7% Senior Notes	$	13		$	13	$	13
5% Senior Notes	26			26		26
Series A Enhanced Junior Subordinated Debentures	5			9		10
Total AGUS	44			48		49
AGMH:
67/8% QUIBS	7			7		7
6.25% Notes	16			16		16
5.6% Notes	6			6		6
Junior Subordinated Debentures	25			25		25
Total AGMH	54			54		54
AGM:
Notes Payable	0			0		(2		)
Total AGM	0			0		(2		)
Purchased debt	(1		)	—		—
Total	$	97		$	102	$	101