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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Other-than-temporary impairment investment losses        
Other-than-temporary impairment losses recognized in other comprehensive income $ 1 $ 0 $ 2 $ 0
Total revenues 3,369 1,802 8,330 2,813
Benefits and Expenses        
Amortization of deferred sales inducements     18 43
Policy and other operating expenses (related party of $12 and $3 for the three months ended and $20 and $5 for the six months ended June 30, 2019 and 2018, respectively) 185 154 350 296
Total benefits and expenses 2,619 1,481 6,840 2,170
Income before income taxes 750 321 1,490 643
Income tax expense (benefit) 30 64 62 109
Net income 720 257 1,428 534
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Revenues        
Premiums 733 731 2,699 1,009
Product charges 132 106 257 202
Net investment income 1,161 958 2,227 1,813
Investment related gains (losses) 1,316 (2) 3,088 (238)
Other-than-temporary impairment investment losses        
Other-than-temporary impairment losses (7) 0 (9) (3)
Other-than-temporary impairment losses recognized in other comprehensive income 1 0 2 0
Net other-than-temporary impairment losses (6) 0 (7) (3)
Other revenues 9 6 21 12
Benefits and Expenses        
Interest sensitive contract benefits 1,094 342 2,610 373
Amortization of deferred sales inducements 13 23 18 43
Future policy and other policy benefits 1,057 864 3,352 1,265
Amortization of deferred acquisition costs and value of business acquired 261 89 492 171
Dividends to policyholders 9 9 18 22
Variable Interest Entities        
Revenues        
Net investment income 21 14 37 24
Investment related gains (losses) $ 3 $ (11) $ 8 $ (6)
Common Class A        
Earnings per share        
Basic (in USD per share) $ 3.76 $ 1.30 $ 7.43 $ 2.71
Diluted (in USD per share) 3.75 1.30 7.41 2.70
Common Class B        
Earnings per share        
Basic (in USD per share) 3.76 1.30 7.43 2.71
Diluted (in USD per share) 3.76 1.30 7.43 2.71
Common Class M-1        
Earnings per share        
Basic (in USD per share) 3.76 1.30 7.43 2.71
Diluted (in USD per share) 3.76 1.30 7.43 2.71
Common Class M-2        
Earnings per share        
Basic (in USD per share) 3.76 1.30 7.43 2.71
Diluted (in USD per share) 3.76 1.29 7.43 2.68
Common Class M-3        
Earnings per share        
Basic (in USD per share) 3.76 1.30 7.43 2.71
Diluted (in USD per share) 3.76 1.30 7.43 2.68
Common Class M-4        
Earnings per share        
Basic (in USD per share) 3.76 1.30 7.43 2.71
Diluted (in USD per share) $ 3.28 $ 1.02 $ 6.45 $ 1.98