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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Premiums (related party: 2021 – $79 and 2020 – $69) $ 3,011 $ 1,140
Product charges (related party: 2021 – $11 and 2020 – $16) 150 140
Net investment income (related party investment income (loss): 2021 – $596 and 2020 – $(214); consolidated variable interest entities: 2021 – $35 and 2020 – $0; and related party investment expense: 2021 – $144 and 2020 – $128) 1,704 745
Investment related gains (losses) (related party: 2021 – $(139) and 2020 – $(631); and consolidated variable interest entities: 2021 – $(66) and 2020 – $1) (488) (3,572)
Other revenues 14 (2)
Total revenues 4,391 (1,549)
Benefits and expenses    
Interest sensitive contract benefits (related party: 2021 – $76 and 2020 – $(97)) 394 (1,319)
Amortization of deferred sales inducements 84 10
Future policy and other policy benefits (related party: 2021 – $89 and 2020 – $50) 3,317 1,356
Amortization of deferred acquisition costs and value of business acquired 164 (413)
Dividends to policyholders 10 11
Policy and other operating expenses (related party: 2021 – $12 and 2020 – $16) 283 188
Total benefits and expenses 4,252 (167)
Income (loss) before income taxes 139 (1,382)
Income tax expense (benefit) 62 (166)
Net income (loss) 77 (1,216)
Less: Net loss attributable to noncontrolling interests (537) (169)
Net income (loss) attributable to Athene Holding Ltd. shareholders 614 (1,047)
Less: Preferred stock dividends 36 18
Net income (loss) available to Athene Holding Ltd. common shareholders 578 (1,065)
Variable Interest Entities    
Revenues    
Net investment income (related party investment income (loss): 2021 – $596 and 2020 – $(214); consolidated variable interest entities: 2021 – $35 and 2020 – $0; and related party investment expense: 2021 – $144 and 2020 – $128) 35 0
Investment related gains (losses) (related party: 2021 – $(139) and 2020 – $(631); and consolidated variable interest entities: 2021 – $(66) and 2020 – $1) (66) 1
Common Class A    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders $ 578 $ (938)
Earnings per share    
Basic (in USD per share) $ 3.02 $ (5.81)
Diluted (in USD per share) $ 2.94 $ (5.81)
Common Class B    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders   $ (98)
Earnings per share    
Basic (in USD per share)   $ (3.87)
Diluted (in USD per share)   $ (3.87)
Common Class M-1    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders   $ (13)
Earnings per share    
Basic (in USD per share)   $ (3.87)
Diluted (in USD per share)   $ (3.87)
Common Class M-2    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders   $ (3)
Earnings per share    
Basic (in USD per share)   $ (3.87)
Diluted (in USD per share)   $ (3.87)
Common Class M-3    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders   $ (4)
Earnings per share    
Basic (in USD per share)   $ (3.87)
Diluted (in USD per share)   $ (3.87)
Common Class M-4    
Benefits and expenses    
Net income (loss) available to Athene Holding Ltd. common shareholders   $ (9)
Earnings per share    
Basic (in USD per share)   $ (3.87)
Diluted (in USD per share)   $ (3.87)