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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Premiums $ 355 $ 787 $ 1,495 $ 2,787
Product charges 141 132 281 257
Net investment income 1,336 1,182 2,081 2,264
Investment related gains (losses) 2,548 1,313 (1,024) 3,089
Other revenues 18 9 16 21
Total revenues 4,398 3,423 2,849 8,418
Benefits and Expenses        
Interest sensitive contract benefits 2,076 1,094 757 2,610
Amortization of deferred sales inducements (21) 13 (11) 18
Future policy and other policy benefits 674 1,111 2,030 3,440
Amortization of deferred acquisition costs and value of business acquired 361 261 (52) 492
Dividends to policyholders 9 9 20 18
Policy and other operating expenses (related party of $11 and $12 for the three months ended and $27 and $20 for the six months ended June 30, 2020 and 2019, respectively) 218 185 406 350
Total benefits and expenses 3,317 2,673 3,150 6,928
Income before income taxes 1,081 750 (301) 1,490
Income tax expense (benefit) 150 30 (16) 62
Net income (loss) 931 720 (285) 1,428
Less: Net income (loss) attributable to noncontrolling interests 88 0 (81) 0
Net income (loss) attributable to Athene Holding Ltd. shareholders 843 720 (204) 1,428
Less: Preferred stock dividends 19 0 37 0
Net income (loss) available to Athene Holding Ltd. common shareholders 824 720 (241) 1,428
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Revenues        
Net investment income 1,336 1,182    
Common Class A        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders $ 824 $ 596 $ (114) $ 1,184
Earnings per share        
Basic (in USD per share) $ 4.25 $ 3.76 $ (0.64) $ 7.43
Diluted (in USD per share) $ 4.19 $ 3.75 $ (0.64) $ 7.41
Common Class B        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders   $ 96 $ (98) $ 189
Earnings per share        
Basic (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Diluted (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Common Class M-1        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders   $ 13 $ (13) $ 25
Earnings per share        
Basic (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Diluted (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Common Class M-2        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders   $ 3 $ (3) $ 6
Earnings per share        
Basic (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Diluted (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Common Class M-3        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders   $ 4 $ (4) $ 8
Earnings per share        
Basic (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Diluted (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Common Class M-4        
Benefits and Expenses        
Net income (loss) available to Athene Holding Ltd. common shareholders   $ 8 $ (9) $ 16
Earnings per share        
Basic (in USD per share)   $ 3.76 $ (3.87) $ 7.43
Diluted (in USD per share)   $ 3.28 $ (3.87) $ 6.45