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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Other-than-temporary impairment investment losses        
Other-than-temporary impairment losses recognized in other comprehensive income $ 4 $ (2) $ 4 $ (2)
Total revenues 2,588 1,473 5,396 4,855
Benefits and Expenses        
Amortization of deferred sales inducements     73 46
Total benefits and expenses 1,882 1,179 4,033 3,818
Income before income taxes 706 294 1,363 1,037
Income tax expense (benefit) 66 20 191 53
Net income 640 274 1,172 984
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Revenues        
Premiums 531 72 1,535 503
Product charges 119 86 321 252
Net investment income 1,070 820 2,883 2,427
Investment related gains (losses) 823 473 585 1,615
Other-than-temporary impairment investment losses        
Other-than-temporary impairment losses (7) (11) (10) (23)
Other-than-temporary impairment losses recognized in other comprehensive income 4 (2) 4 (2)
Net other-than-temporary impairment losses (3) (13) (6) (25)
Other revenues 10 8 22 24
Benefits and Expenses        
Interest sensitive contract benefits 741 621 1,092 1,866
Amortization of deferred sales inducements 23 13 66 42
Future policy and other policy benefits 920 259 2,178 1,051
Amortization of deferred acquisition costs and value of business acquired 30 80 211 251
Dividends to policyholders 10 48 32 129
Policy and other operating expenses (related party of $22 and $4 for the three months ended and $27 and $10 for the nine months ended September 30, 2018 and 2017, respectively) 158 158 453 479
Variable Interest Entities        
Revenues        
Net investment income 15 10 39 30
Investment related gains (losses) 23 17 17 29
Benefits and Expenses        
Operating Expenses $ 0 $ 0 $ 1 $ 0
Common Class A        
Earnings per share        
Basic (in USD per share) $ 3.24 $ 1.40 $ 5.94 $ 5.05
Diluted (in USD per share) 3.23 1.39 5.92 5.00
Common Class B        
Earnings per share        
Basic (in USD per share) 3.24 1.40 5.94 5.05
Diluted (in USD per share) 3.24 1.40 5.94 5.05
Common Class M-1        
Earnings per share        
Basic (in USD per share) 3.24 1.40 5.94 5.05
Diluted (in USD per share) 3.24 1.40 5.94 5.05
Common Class M-2        
Earnings per share        
Basic (in USD per share) 3.24 1.40 5.94 5.05
Diluted (in USD per share) 3.24 1.39 5.90 3.26
Common Class M-3        
Earnings per share        
Basic (in USD per share) 3.24 1.40 5.94 5.05
Diluted (in USD per share) 3.24 1.07 5.90 2.27
Common Class M-4        
Earnings per share        
Basic (in USD per share) 3.24 1.40 5.94 5.05
Diluted (in USD per share) $ 2.49 $ 0.79 $ 4.42 $ 1.91