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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2016
Accumulated Other Comprehensive Income [Abstract]  
Comprehensive Income (Loss) Note
Accumulated Other Comprehensive Income
Accumulated other comprehensive income (AOCI) includes changes in unrealized gains and losses on investments, changes in pension obligations and changes in life deferred acquisition costs, life policy reserves and other as follows:
(Dollars in millions)
 
Three months ended September 30,
 
 
2016
 
 
2015
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,673

 
$
925

 
$
1,748

 
 
$
2,357

 
$
815

 
$
1,542

OCI before realized gains recognized in net income
 
119

 
41

 
78

 
 
(363
)
 
(126
)
 
(237
)
Realized gains recognized in net income
 
(57
)
 
(20
)
 
(37
)
 
 
(2
)
 
(1
)
 
(1
)
OCI
 
62

 
21

 
41

 
 
(365
)
 
(127
)
 
(238
)
AOCI, end of period
 
$
2,735

 
$
946

 
$
1,789

 
 
$
1,992

 
$
688

 
$
1,304

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
$
(33
)
 
$
(11
)
 
$
(22
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
—

 
—

 
—

 
 
1

 
—

 
1

OCI
 
—

 
—

 
—

 
 
1

 
—

 
1

AOCI, end of period
 
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
$
(32
)
 
$
(11
)
 
$
(21
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(10
)
 
$
(3
)
 
$
(7
)
 
 
$
(8
)
 
$
(2
)
 
$
(6
)
OCI before realized gains recognized in net income
 
(4
)
 
(1
)
 
(3
)
 
 
5

 
1

 
4

Realized gains recognized in net income
 
1

 
1

 
—

 
 
(1
)
 
—

 
(1
)
OCI
 
(3
)
 
—

 
(3
)
 
 
4

 
1

 
3

AOCI, end of period
 
$
(13
)
 
$
(3
)
 
$
(10
)
 
 
$
(4
)
 
$
(1
)
 
$
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,623

 
$
909

 
$
1,714

 
 
$
2,316

 
$
802

 
$
1,514

Investments OCI
 
62

 
21

 
41

 
 
(365
)
 
(127
)
 
(238
)
Pension obligations OCI
 
—

 
—

 
—

 
 
1

 
—

 
1

Life deferred acquisition costs, life policy reserves and other OCI
 
(3
)
 
—

 
(3
)
 
 
4

 
1

 
3

Total OCI
 
59

 
21

 
38

 
 
(360
)
 
(126
)
 
(234
)
AOCI, end of period
 
$
2,682

 
$
930

 
$
1,752

 
 
$
1,956

 
$
676

 
$
1,280

 
 
 
 
 
 
 
 
 
 
 
 
 
 

(Dollars in millions)
Nine months ended September 30,
 
2016
 
 
2015
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,094

 
$
722

 
$
1,372

 
 
$
2,719

 
$
942

 
$
1,777

OCI excluding realized gains recognized in net income
801

 
280

 
521

 
 
(620
)
 
(216
)
 
(404
)
Realized gains recognized in net income
(160
)
 
(56
)
 
(104
)
 
 
(107
)
 
(38
)
 
(69
)
OCI
641

 
224

 
417

 
 
(727
)
 
(254
)
 
(473
)
AOCI, end of period
$
2,735

 
$
946

 
$
1,789

 
 
$
1,992

 
$
688

 
$
1,304

 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
(42
)
 
$
(14
)
 
$
(28
)
 
 
$
(36
)
 
$
(12
)
 
$
(24
)
OCI excluding amortization recognized in net income
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
2

 
1

 
1

 
 
4

 
1

 
3

OCI
2

 
1

 
1

 
 
4

 
1

 
3

AOCI, end of period
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
$
(32
)
 
$
(11
)
 
$
(21
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
1

 
$
1

 
$
—

 
 
$
(12
)
 
$
(3
)
 
$
(9
)
OCI excluding realized gains recognized in net income
(13
)
 
(4
)
 
(9
)
 
 
11

 
3

 
8

Realized gains recognized in net income
(1
)
 
—

 
(1
)
 
 
(3
)
 
(1
)
 
(2
)
OCI
(14
)
 
(4
)
 
(10
)
 
 
8

 
2

 
6

AOCI, end of period
$
(13
)
 
$
(3
)
 
$
(10
)
 
 
$
(4
)
 
$
(1
)
 
$
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,053

 
$
709

 
$
1,344

 
 
$
2,671

 
$
927

 
$
1,744

Investments OCI
641

 
224

 
417

 
 
(727
)
 
(254
)
 
(473
)
Pension obligations OCI
2

 
1

 
1

 
 
4

 
1

 
3

Life deferred acquisition costs, life policy reserves and other OCI
(14
)
 
(4
)
 
(10
)
 
 
8

 
2

 
6

Total OCI
629

 
221

 
408

 
 
(715
)
 
(251
)
 
(464
)
AOCI, end of period
$
2,682

 
$
930

 
$
1,752

 
 
$
1,956

 
$
676

 
$
1,280

 
 
 
 
 
 
 
 
 
 
 
 
 

Investments realized gains and life deferred acquisition costs, life policy reserves and other realized gains are recorded in the realized investment gains, net, line item in the condensed consolidated statements of income. Amortization on pension obligations is recorded in the insurance losses and contract holders' benefits and underwriting, acquisition and insurance expenses in the condensed consolidated statements of income.