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SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES
12 Months Ended
Dec. 31, 2018
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]  
Schedule I - Summary of Investments - Other than Investments in Related Parties
SCHEDULE I
SUMMARY OF INVESTMENTS — OTHER THAN INVESTMENTS IN RELATED PARTIES
AS OF DECEMBER 31, 2018
 
Cost (1)
 
Fair Value
 
Carrying
Value
 
(in millions)
Fixed Maturities:
 
 
 
 
 
U.S. government, agencies and authorities
$
14,004

 
$
13,829

 
$
14,004

State, municipalities and political subdivisions
415

 
461

 
415

Foreign governments
524

 
530

 
524

Public utilities
5,101

 
5,046

 
5,101

All other corporate bonds
25,471

 
25,132

 
25,471

Residential mortgage-backed
225

 
234

 
225

Asset-backed
612

 
601

 
612

Redeemable preferred stocks
449

 
446

 
449

Total fixed maturities
46,801

 
46,279

 
46,801

Mortgage loans on real estate (2)
11,842

 
11,494

 
11,835

Real estate held for the production of income
52

 
52

 
52

Policy loans
3,779

 
4,183

 
3,779

Other equity investments
1,293

 
1,334

 
1,334

Trading securities
16,211

 
16,017

 
16,017

Other invested assets
2,037

 
2,037

 
2,037

Total Investments
$
82,015

 
$
81,396

 
$
81,855


______________
(1)
Cost for fixed maturities represents original cost, reduced by repayments and write-downs and adjusted for amortization of premiums or accretion of discount; cost for equity securities represents original cost reduced by write-downs; cost for other limited partnership interests represents original cost adjusted for equity in earnings and reduced by distributions.
(2)
Carrying value for mortgage loans on real estate represents original cost adjusted for amortization of premiums or accretion of discount and reduced by valuation allowance.