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Accumulated Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2019
Accumulated Other Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
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,
 
 
2019
 
 
2018
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
488

 
$
102

 
$
386

 
 
$
84

 
$
17

 
$
67

OCI before investment gains and losses, net, recognized in net income
 
99

 
21

 
78

 
 
(76
)
 
(17
)
 
(59
)
Investment gains and losses, net, recognized in net income
 
1

 
—

 
1

 
 
(1
)
 
—

 
(1
)
OCI
 
100

 
21

 
79

 
 
(77
)
 
(17
)
 
(60
)
AOCI, end of period
 
$
588

 
$
123

 
$
465

 
 
$
7

 
$
—

 
$
7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(15
)
 
$
(2
)
 
$
(13
)
 
 
$
(11
)
 
$
(1
)
 
$
(10
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

OCI
 
—

 
—

 
—

 
 
—

 
—

 
—

AOCI, end of period
 
$
(15
)
 
$
(2
)
 
$
(13
)
 
 
$
(11
)
 
$
(1
)
 
$
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(11
)
 
$
(2
)
 
$
(9
)
 
 
$
(2
)
 
$
—

 
$
(2
)
OCI before investment gains and losses, net, recognized in net income
 
(3
)
 
—

 
(3
)
 
 
—

 
—

 
—

Investment gains and losses, net, recognized in net income
 
2

 
—

 
2

 
 
1

 
—

 
1

OCI
 
(1
)
 
—

 
(1
)
 
 
1

 
—

 
1

AOCI, end of period
 
$
(12
)
 
$
(2
)
 
$
(10
)
 
 
$
(1
)
 
$
—

 
$
(1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
462

 
$
98

 
$
364

 
 
$
71

 
$
16

 
$
55

Investments OCI
 
100

 
21

 
79

 
 
(77
)
 
(17
)
 
(60
)
Pension obligations OCI
 
—

 
—

 
—

 
 
—

 
—

 
—

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

 
(1
)
 
 
1

 
—

 
1

Total OCI
 
99

 
21

 
78

 
 
(76
)
 
(17
)
 
(59
)
AOCI, end of period
 
$
561

 
$
119

 
$
442

 
 
$
(5
)
 
$
(1
)
 
$
(4
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(Dollars in millions)
 
Nine months ended September 30,
 
 
2019
 
 
2018
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
46

 
$
9

 
$
37

 
 
$
3,540

 
$
733

 
$
2,807

Cumulative effect of change in accounting for equity securities as of January 1, 2018
 
—

 
—

 
—

 
 
(3,155
)
 
(652
)
 
(2,503
)
Adjusted AOCI, beginning of period
 
46

 
9

 
37

 
 
385

 
81

 
304

OCI before investment gains and losses, net, recognized in net income
 
542

 
114

 
428

 
 
(371
)
 
(80
)
 
(291
)
Investment gains and losses, net, recognized in net income
 
—

 
—

 
—

 
 
(7
)
 
(1
)
 
(6
)
OCI
 
542

 
114

 
428

 
 
(378
)
 
(81
)
 
(297
)
AOCI, end of period
 
$
588

 
$
123

 
$
465

 
 
$
7

 
$
—

 
$
7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(16
)
 
$
(2
)
 
$
(14
)
 
 
$
(12
)
 
$
(1
)
 
$
(11
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
1

 
—

 
1

 
 
1

 
—

 
1

OCI
 
1

 
—

 
1

 
 
1

 
—

 
1

AOCI, end of period
 
$
(15
)
 
$
(2
)
 
$
(13
)
 
 
$
(11
)
 
$
(1
)
 
$
(10
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(1
)
 
$
—

 
$
(1
)
 
 
$
(10
)
 
$
(2
)
 
$
(8
)
OCI before investment gains and losses, net, recognized in net income
 
(9
)
 
(2
)
 
(7
)
 
 
6

 
1

 
5

Investment gains and losses, net, recognized in net income
 
(2
)
 
—

 
(2
)
 
 
3

 
1

 
2

OCI
 
(11
)
 
(2
)
 
(9
)
 
 
9

 
2

 
7

AOCI, end of period
 
$
(12
)
 
$
(2
)
 
$
(10
)
 
 
$
(1
)
 
$
—

 
$
(1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
29

 
$
7

 
$
22

 
 
$
3,518

 
$
730

 
$
2,788

Cumulative effect of change in accounting for equity securities as of January 1, 2018
 
—

 
—

 
—

 
 
(3,155
)
 
(652
)
 
(2,503
)
Adjusted AOCI, beginning of period
 
29

 
7

 
22

 
 
363

 
78

 
285

Investments OCI
 
542

 
114

 
428

 
 
(378
)
 
(81
)
 
(297
)
Pension obligations OCI
 
1

 
—

 
1

 
 
1

 
—

 
1

Life deferred acquisition costs, life policy reserves and other OCI
 
(11
)
 
(2
)
 
(9
)
 
 
9

 
2

 
7

Total OCI
 
532

 
112

 
420

 
 
(368
)
 
(79
)
 
(289
)
AOCI, end of period
 
$
561

 
$
119

 
$
442

 
 
$
(5
)
 
$
(1
)
 
$
(4
)