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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 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 September 30,
 
 
2017
 
 
2016
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,977

 
$
1,031

 
$
1,946

 
 
$
2,673

 
$
925

 
$
1,748

OCI before realized gains recognized in net income
 
193

 
67

 
126

 
 
119

 
41

 
78

Realized gains recognized in net income
 
(4
)
 
(1
)
 
(3
)
 
 
(57
)
 
(20
)
 
(37
)
OCI
 
189

 
66

 
123

 
 
62

 
21

 
41

AOCI, end of period
 
$
3,166

 
$
1,097

 
$
2,069

 
 
$
2,735

 
$
946

 
$
1,789

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(25
)
 
$
(8
)
 
$
(17
)
 
 
$
(40
)
 
$
(13
)
 
$
(27
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
1

 
1

 
—

 
 
—

 
—

 
—

OCI
 
1

 
1

 
—

 
 
—

 
—

 
—

AOCI, end of period
 
$
(24
)
 
$
(7
)
 
$
(17
)
 
 
$
(40
)
 
$
(13
)
 
$
(27
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(6
)
 
$
(2
)
 
$
(4
)
 
 
$
(10
)
 
$
(3
)
 
$
(7
)
OCI before realized gains and losses recognized in net
  income
 
1

 
—

 
1

 
 
(4
)
 
(1
)
 
(3
)
Realized gains and losses recognized in net income
 
(3
)
 
(1
)
 
(2
)
 
 
1

 
1

 
—

OCI
 
(2
)
 
(1
)
 
(1
)
 
 
(3
)
 
—

 
(3
)
AOCI, end of period
 
$
(8
)
 
$
(3
)
 
$
(5
)
 
 
$
(13
)
 
$
(3
)
 
$
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,946

 
$
1,021

 
$
1,925

 
 
$
2,623

 
$
909

 
$
1,714

Investments OCI
 
189

 
66

 
123

 
 
62

 
21

 
41

Pension obligations OCI
 
1

 
1

 
—

 
 
—

 
—

 
—

Life deferred acquisition costs, life policy reserves and other OCI
 
(2
)
 
(1
)
 
(1
)
 
 
(3
)
 
—

 
(3
)
Total OCI
 
188

 
66

 
122

 
 
59

 
21

 
38

AOCI, end of period
 
$
3,134

 
$
1,087

 
$
2,047

 
 
$
2,682

 
$
930

 
$
1,752

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(Dollars in millions)
Nine months ended September 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
694

 
243

 
451

 
 
801

 
280

 
521

Realized gains recognized in net income
(153
)
 
(54
)
 
(99
)
 
 
(160
)
 
(56
)
 
(104
)
OCI
541

 
189

 
352

 
 
641

 
224

 
417

AOCI, end of period
$
3,166

 
$
1,097

 
$
2,069

 
 
$
2,735

 
$
946

 
$
1,789

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

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
2

 
1

 
1

 
 
2

 
1

 
1

OCI
2

 
1

 
1

 
 
2

 
1

 
1

AOCI, end of period
$
(24
)
 
$
(7
)
 
$
(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 and losses recognized in net
  income
4

 
1

 
3

 
 
(13
)
 
(4
)
 
(9
)
Realized gains recognized in net income
(3
)
 
(1
)
 
(2
)
 
 
(1
)
 
—

 
(1
)
OCI
1

 
—

 
1

 
 
(14
)
 
(4
)
 
(10
)
AOCI, end of period
$
(8
)
 
$
(3
)
 
$
(5
)
 
 
$
(13
)
 
$
(3
)
 
$
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,590

 
$
897

 
$
1,693

 
 
$
2,053

 
$
709

 
$
1,344

Investments OCI
541

 
189

 
352

 
 
641

 
224

 
417

Pension obligations OCI
2

 
1

 
1

 
 
2

 
1

 
1

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

 
—

 
1

 
 
(14
)
 
(4
)
 
(10
)
Total OCI
544

 
190

 
354

 
 
629

 
221

 
408

AOCI, end of period
$
3,134

 
$
1,087

 
$
2,047

 
 
$
2,682

 
$
930

 
$
1,752

 
 
 
 
 
 
 
 
 
 
 
 
 

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.