Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the components of Income (loss) from discontinued operations, net of tax for thefive months ended May 31, 2018 (the Transaction closed on June 1, 2018) and the six months ended June 30, 2017:

	Five Months Ended May 31, 2018			Six Months Ended June 30, 2017
Revenues:
Net investment income	$	510		$	633
Fee income	295			412
Premiums	(50		)	96
Total net realized capital gains (losses)	(345		)	(588		)
Other revenue	10			11
Total revenues	420			564
Benefits and expenses:
Interest credited and other benefits to contract owners/policyholders	442			550
Operating expenses	(14		)	133
Net amortization of Deferred policy acquisition costs and Value of business acquired	49			68
Interest expense	10			10
Total benefits and expenses	487			761
Income (loss) from discontinued operations before income taxes	(67		)	(197		)
Income tax expense (benefit)	(19		)	(99		)
Adjustment to loss on sale, net of tax	505			—
Income (loss) from discontinued operations, net of tax	$	457		$	(98	)

The following table summarizes the major categories of assets and liabilities classified as discontinued operations in the accompanying Condensed Consolidated Balance Sheet as of December 31, 2017:

	December 31, 2017
Assets:
Investments:
Fixed maturities, available-for-sale, at fair value	$	21,904
Fixed maturities, at fair value using the fair value option	615
Short-term investments	352
Mortgage loans on real estate, net of valuation allowance	4,212
Derivatives	1,514
Other investments(1)	351
Securities pledged	861
Total investments	29,809
Cash and cash equivalents	498
Short-term investments under securities loan agreements, including collateral delivered	473
Deferred policy acquisition costs and Value of business acquired	805
Sales inducements	196
Deferred income taxes	404
Other assets(2)	396
Assets held in separate accounts	28,894
Write-down of businesses held for sale to fair value less cost to sell	(2,423		)
Total assets held for sale	$	59,052
Liabilities:
Future policy benefits and contract owner account balances	$	27,065
Payables under securities loan agreement, including collateral held	1,152
Derivatives	782
Notes payable	350
Other liabilities	34
Liabilities related to separate accounts	28,894
Total liabilities held for sale	$	58,277

⁽¹⁾ Includes Other investments, Equity securities, Limited Partnerships/corporations and Policy loans.

⁽²⁾ Includes Other assets, Accrued investment income, Premium receivable and reinsurance recoverable.