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Deferred Acquisition Costs (Tables)
 12 Months Ended
Dec. 31, 2016
Activity Impacting Deferred Acquisition Costs

The following table presents the activity impacting DAC as of and for the years ended December 31:

 

(Amounts in millions)

    2016      2015      2014  

Unamortized balance as of January 1

    $ 4,569      $ 5,200      $ 5,214   

Impact of foreign currency translation

      3        (23 )       (15 )  

Costs deferred

      150        295        385  

Amortization, net of interest accretion

      (481 )       (448 )       (384 )  

Impairment

      —          (455 )       —    
  

 

 

     

 

 

     

 

 

  

Unamortized balance as of December 31

      4,241        4,569        5,200  

Accumulated effect of net unrealized investment (gains) losses

      (670 )       (171 )       (348 )  
  

 

 

     

 

 

     

 

 

  

Balance as of December 31

    $ 3,571      $ 4,398      $ 4,852