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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Investments    
Available-for-sale securities $ 92,429 $ 89,373
Mortgage loans 17,385 15,938
Investment funds 6,865 6,087
Derivative assets 3,677 3,523
Cash and cash equivalents 6,427 7,704
Restricted cash 546 738
Accrued investment income (related party: 2021 – $61 and 2020 – $38) 968 905
Reinsurance recoverable (portion at fair value: 2021 – $1,880 and 2020 – $2,100) 4,690 4,848
Deferred acquisition costs, deferred sales inducements and value of business acquired 5,303 4,906
Other assets (consolidated variable interest entities: 2021 – $173 and 2020 – $1) 1,785 1,249
Total assets 205,670 202,771
Liabilities    
Interest sensitive contract liabilities (related party: 2021 – $13,830 and 2020 – $14,150; portion at fair value: 2021 – $13,581 and 2020 – $14,181) 146,247 144,566
Future policy benefits (related party: 2021 – $1,665 and 2020 – $1,610; portion at fair value: 2021 – $2,254 and 2020 – $2,376) 31,767 29,258
Other policy claims and benefits 135 130
Dividends payable to policyholders 110 110
Long-term debt 1,977 1,976
Derivative liabilities 288 298
Payables for collateral on derivatives and securities to repurchase 3,952 3,801
Funds withheld liability (portion at fair value: 2021 – $34 and 2020 – $59) 422 452
Other liabilities (related party: 2021 – $108 and 2020 – $112; consolidated variable interest entities: 2021 – $200 and 2020 – $134) 2,436 2,040
Total liabilities 187,334 182,631
Commitments and Contingencies (Note 10)
Equity    
Additional paid-in capital 6,623 6,613
Retained earnings 8,647 8,073
Accumulated other comprehensive income (related party: 2021 – $55 and 2020 – $59) 2,021 3,971
Total Athene Holding Ltd. shareholders’ equity 17,291 18,657
Noncontrolling interests 1,045 1,483
Total equity 18,336 20,140
Total liabilities and equity 205,670 202,771
Fair Value    
Liabilities    
Interest sensitive contract liabilities (related party: 2021 – $13,830 and 2020 – $14,150; portion at fair value: 2021 – $13,581 and 2020 – $14,181) 99,298 98,945
Long-term debt 2,215 2,259
Funds withheld liability (portion at fair value: 2021 – $34 and 2020 – $59) 388 393
Recurring | Fair Value    
Investments    
Restricted cash 546 738
Reinsurance recoverable (portion at fair value: 2021 – $1,880 and 2020 – $2,100) 1,880 2,100
Liabilities    
Interest sensitive contract liabilities (related party: 2021 – $13,830 and 2020 – $14,150; portion at fair value: 2021 – $13,581 and 2020 – $14,181) 13,581 14,181
Future policy benefits (related party: 2021 – $1,665 and 2020 – $1,610; portion at fair value: 2021 – $2,254 and 2020 – $2,376) 2,254 2,376
Derivative liabilities 288 298
Funds withheld liability (portion at fair value: 2021 – $34 and 2020 – $59) 34 59
Variable Interest Entities    
Investments    
Other assets (consolidated variable interest entities: 2021 – $173 and 2020 – $1) 173 1
Liabilities    
Other liabilities (related party: 2021 – $108 and 2020 – $112; consolidated variable interest entities: 2021 – $200 and 2020 – $134) 200 134
Preference Share, Series A    
Equity    
Preferred stock 0 0
Preference Share, Series B    
Equity    
Preferred stock 0 0
Preference Share, Series C    
Equity    
Preferred stock 0 0
Series D Preferred Stock    
Equity    
Preferred stock 0 0
Common Class A    
Equity    
Common stock 0 0
Related Party    
Investments    
Available-for-sale securities 6,905 6,520
Trading securities, at fair value 1,710 1,529
Equity securities, at fair value 114 72
Mortgage loans 714 674
Investment funds 5,899 5,284
Funds withheld at interest 12,572 13,030
Other investments 469 469
Accrued investment income (related party: 2021 – $61 and 2020 – $38) 61 38
Liabilities    
Interest sensitive contract liabilities (related party: 2021 – $13,830 and 2020 – $14,150; portion at fair value: 2021 – $13,581 and 2020 – $14,181) 13,830 14,150
Future policy benefits (related party: 2021 – $1,665 and 2020 – $1,610; portion at fair value: 2021 – $2,254 and 2020 – $2,376) 1,665 1,610
Other liabilities (related party: 2021 – $108 and 2020 – $112; consolidated variable interest entities: 2021 – $200 and 2020 – $134) 108 112
Equity    
Accumulated other comprehensive income (related party: 2021 – $55 and 2020 – $59) 55 59
Related Party | Fair Value    
Investments    
Mortgage loans 734 694
Funds withheld at interest 11,992 12,168
Other investments 492 499
Related Party | Recurring | Fair Value    
Investments    
Available-for-sale securities 6,905 6,520
Trading securities, at fair value 1,710 1,529
Equity securities, at fair value 114 72
Funds withheld at interest 580 862
Investments, excluding investments in Related Party    
Investments    
Available-for-sale securities 85,524 82,853
Trading securities, at fair value 1,979 2,093
Equity securities (portion at fair value: 2021 – $322 and 2020 – $330) 524 532
Mortgage loans 16,671 15,264
Investment funds 966 803
Policy loans 356 369
Funds withheld at interest 46,024 48,612
Derivative assets 3,677 3,523
Short-term Investments 125 222
Other investments 1,722 572
Total investments 157,568 154,843
Investments, excluding investments in Related Party | Fair Value    
Investments    
Mortgage loans 17,176 15,811
Policy loans 356 369
Funds withheld at interest 45,388 46,668
Short-term Investments 8  
Other investments 1,617 471
Investments, excluding investments in Related Party | Recurring | Fair Value    
Investments    
Available-for-sale securities 85,524 82,853
Trading securities, at fair value 1,979 2,093
Equity securities, at fair value 322 330
Mortgage loans 18 19
Funds withheld at interest 636 1,944
Derivative assets 3,677 3,523
Short-term Investments 117 222
Other investments 105 105
Investments, excluding investments in Related Party | Variable Interest Entities    
Investments    
Mortgage loans 1,812 1,880
Investment funds 154 0
Investments, excluding investments in Related Party | Related Party    
Investments    
Available-for-sale securities $ 6,905 $ 6,520