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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Premiums $ 112 $ 2,688 $ 1,607 $ 5,475
Product charges 144 135 425 392
Investment revenue     3,660 3,673
Investment expense     370 319
Net investment income 1,209 1,090 3,290 3,354
Investment related gains (losses) 1,797 665 773 3,754
Other revenues 13 6 29 27
Total revenues 3,275 4,584 6,124 13,002
Benefits and Expenses        
Interest sensitive contract benefits 1,225 801 1,982 3,411
Amortization of deferred sales inducements 48 20 37 38
Future policy and other policy benefits 439 2,955 2,469 6,395
Amortization of deferred acquisition costs and value of business acquired 299 323 247 815
Dividends to policyholders 9 12 29 30
Other Cost and Expense, Operating 231 194 637 544
Total benefits and expenses 2,251 4,305 5,401 11,233
Income before income taxes 1,024 279 723 1,769
Income tax expense (benefit) 140 (14) 124 48
Net income 884 293 599 1,721
Less: Net income attributable to noncontrolling interests 232 0 151 0
Net income attributable to Athene Holding Ltd. shareholders 652 293 448 1,721
Less: Preferred stock dividends 30 17 67 17
Net income available to Athene Holding Ltd. common shareholders 622 276 381 1,704
Related Party        
Revenues        
Premiums 71 51 234 173
Product charges 13 14 41 42
Investment revenue 239 175 515 528
Investment expense 111 127 362 313
Investment related gains (losses) 299 273 429 1,025
Benefits and Expenses        
Interest sensitive contract benefits 43 97 143 394
Future policy and other policy benefits 106 70 298 267
Other Cost and Expense, Operating 14 10 41 30
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Revenues        
Investment revenue 1,323 1,219    
Investment expense 114 129    
Net investment income 1,209 1,090    
Variable Interest Entities        
Revenues        
Net investment income 18 20 34 57
Investment related gains (losses) 26 2 20 10
Common Class A        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders $ 622 $ 227 $ 508 $ 1,411
Earnings per share        
Basic (in USD per share) $ 3.22 $ 1.50 $ 2.78 $ 8.97
Diluted (in USD per share) $ 3.16 $ 1.50 $ 2.73 $ 8.95
Common Class B        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders   $ 38 $ (98) $ 228
Earnings per share        
Basic (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Diluted (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Common Class M-1        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders   $ 5 $ (13) $ 30
Earnings per share        
Basic (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Diluted (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Common Class M-2        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders   $ 1 $ (3) $ 7
Earnings per share        
Basic (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Diluted (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Common Class M-3        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders   $ 2 $ (4) $ 9
Earnings per share        
Basic (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Diluted (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Common Class M-4        
Benefits and Expenses        
Net income available to Athene Holding Ltd. common shareholders   $ 3 $ (9) $ 19
Earnings per share        
Basic (in USD per share)   $ 1.50 $ (3.87) $ 8.97
Diluted (in USD per share)   $ 1.29 $ (3.87) $ 7.77