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Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2017
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 June 30,
 
 
2017
 
 
2016
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,756

 
$
954

 
$
1,802

 
 
$
2,384

 
$
822

 
$
1,562

OCI before realized gains recognized in net income
 
211

 
74

 
137

 
 
331

 
118

 
213

Realized gains and losses recognized in net income
 
10

 
3

 
7

 
 
(42
)
 
(15
)
 
(27
)
OCI
 
221

 
77

 
144

 
 
289

 
103

 
186

AOCI, end of period
 
$
2,977

 
$
1,031

 
$
1,946

 
 
$
2,673

 
$
925

 
$
1,748

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(25
)
 
$
(8
)
 
$
(17
)
 
 
$
(41
)
 
$
(13
)
 
$
(28
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
—

 
—

 
—

 
 
1

 
—

 
1

OCI
 
—

 
—

 
—

 
 
1

 
—

 
1

AOCI, end of period
 
$
(25
)
 
$
(8
)
 
$
(17
)
 
 
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(7
)
 
$
(2
)
 
$
(5
)
 
 
$
(3
)
 
$
—

 
$
(3
)
OCI before realized gains recognized in net income
 
—

 
(1
)
 
1

 
 
(5
)
 
(2
)
 
(3
)
Realized gains and losses recognized in net income
 
1

 
1

 
—

 
 
(2
)
 
(1
)
 
(1
)
OCI
 
1

 
—

 
1

 
 
(7
)
 
(3
)
 
(4
)
AOCI, end of period
 
$
(6
)
 
$
(2
)
 
$
(4
)
 
 
$
(10
)
 
$
(3
)
 
$
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,724

 
$
944

 
$
1,780

 
 
$
2,340

 
$
809

 
$
1,531

Investments OCI
 
221

 
77

 
144

 
 
289

 
103

 
186

Pension obligations OCI
 
—

 
—

 
—

 
 
1

 
—

 
1

Life deferred acquisition costs, life policy reserves and other OCI
 
1

 
—

 
1

 
 
(7
)
 
(3
)
 
(4
)
Total OCI
 
222

 
77

 
145

 
 
283

 
100

 
183

AOCI, end of period
 
$
2,946

 
$
1,021

 
$
1,925

 
 
$
2,623

 
$
909

 
$
1,714

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(Dollars in millions)
Six months ended June 30,
 
2017
 
 
2016
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,625

 
$
908

 
$
1,717

 
 
$
2,094

 
$
722

 
$
1,372

OCI before realized gains recognized in net income
501

 
176

 
325

 
 
682

 
239

 
443

Realized gains recognized in net income
(149
)
 
(53
)
 
(96
)
 
 
(103
)
 
(36
)
 
(67
)
OCI
352

 
123

 
229

 
 
579

 
203

 
376

AOCI, end of period
$
2,977

 
$
1,031

 
$
1,946

 
 
$
2,673

 
$
925

 
$
1,748

 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
(26
)
 
$
(8
)
 
$
(18
)
 
 
$
(42
)
 
$
(14
)
 
$
(28
)
OCI excluding amortization recognized in net income
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
1

 
—

 
1

 
 
2

 
1

 
1

OCI
1

 
—

 
1

 
 
2

 
1

 
1

AOCI, end of period
$
(25
)
 
$
(8
)
 
$
(17
)
 
 
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
(9
)
 
$
(3
)
 
$
(6
)
 
 
$
1

 
$
1

 
$
—

OCI before realized gains recognized in net income
3

 
1

 
2

 
 
(9
)
 
(3
)
 
(6
)
Realized gains recognized in net income
—

 
—

 
—

 
 
(2
)
 
(1
)
 
(1
)
OCI
3

 
1

 
2

 
 
(11
)
 
(4
)
 
(7
)
AOCI, end of period
$
(6
)
 
$
(2
)
 
$
(4
)
 
 
$
(10
)
 
$
(3
)
 
$
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,590

 
$
897

 
$
1,693

 
 
$
2,053

 
$
709

 
$
1,344

Investments OCI
352

 
123

 
229

 
 
579

 
203

 
376

Pension obligations OCI
1

 
—

 
1

 
 
2

 
1

 
1

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

 
1

 
2

 
 
(11
)
 
(4
)
 
(7
)
Total OCI
356

 
124

 
232

 
 
570

 
200

 
370

AOCI, end of period
$
2,946

 
$
1,021

 
$
1,925

 
 
$
2,623

 
$
909

 
$
1,714

 
 
 
 
 
 
 
 
 
 
 
 
 

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.