XML 67 R45.htm IDEA: XBRL DOCUMENT v3.20.4
Accumulated Other Comprehensive Income (Loss) (Tables)
12 Months Ended
Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Changes in the Components of AOCI Changes in the components of AOCI were as follows:
For the Years Ended December 31,
(In millions)202020192018
Securities and Derivatives
Beginning balance$975 $18 $328 
Reclassification adjustment to retained earnings related to U.S. tax reform legislation — 65 
Reclassification adjustment to retained earnings related to new financial instruments guidance — (4)
Reclassification adjustment from retained earnings related to new hedging guidance — (6)
Adjusted beginning balance975 18 383 
Appreciation (depreciation) on securities and derivatives776 1,266 (512)
Tax (expense) benefit(150)(270)100 
Net appreciation (depreciation) on securities and derivatives626 996 (412)
Reclassification adjustment for (gains) included in shareholders' net income ((gain) loss on sale of business)(862)— — 
Reclassification adjustment for (gains) losses included in shareholders' net income (net realized investment (gains) losses)(26)(49)60 
Reclassification adjustment for tax expense (benefit) included in shareholders’ net income187 10 (13)
Net (gains) losses reclassified from AOCI to net income(701)(39)47 
Other comprehensive (loss) income, net of tax(75)957 (365)
Ending balance$900 $975 $18 
Translation of foreign currencies
Beginning balance$(275)$(221)$(65)
Reclassification adjustment to retained earnings related to U.S. tax reform legislation — (4)
Adjusted beginning balance(275)(221)(69)
Translation of foreign currencies232 (57)(167)
Tax (expense) benefit12 (2)— 
Net translation of foreign currencies244 (59)(167)
Reclassification adjustment for losses included in shareholders' net income ((gain) loss on sale of business)11 — — 
Reclassification adjustment for tax expense (benefit) included in shareholders’ net income(3)— — 
Net translation losses reclassified from AOCI to net income8 — — 
Other comprehensive income (loss), net of tax252 (59)(167)
Less: Net translation gain (loss) on foreign currencies attributable to noncontrolling interests(8)(5)(15)
Shareholders' other comprehensive income (loss), net of tax260 (54)(152)
Ending balance$(15)$(275)$(221)
Postretirement benefits liability
Beginning balance$(1,641)$(1,508)$(1,345)
Reclassification adjustment to retained earnings related to U.S. tax reform legislation — (290)
Adjusted beginning balance(1,641)(1,508)(1,635)
Reclassification adjustment for amortization of net prior actuarial losses and prior service costs (interest expense and other)70 62 69 
Reclassification adjustment for settlement (interest expense and other) 10 — 
Reclassification adjustment for tax expense (benefit) included in shareholders’ net income(17)(15)(15)
Net adjustments reclassified from AOCI to net income53 57 54 
Valuation update(206)(249)93 
Tax (expense) benefit48 59 (20)
Net change due to valuation update(158)(190)73 
Other comprehensive (loss) income, net of tax(105)(133)127 
Ending balance$(1,746)$(1,641)$(1,508)