Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30,
	2020						2019
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	266	$	55	$	211	$	288	$	59	$	229
OCI before investment gains and losses, net, recognized in net income	506		107		399		199		43		156
Investment gains and losses, net, recognized in net income	—		—		—		1		—		1
OCI	506		107		399		200		43		157
AOCI, end of period	$	772	$	162	$	610	$	488	$	102	$	386
Pension obligations:
AOCI, beginning of period	$	(8)	$	—	$	(8)	$	(16)	$	(2)	$	(14)
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	$	(7)	$	—	$	(7)	$	(15)	$	(2)	$	(13)
Life deferred acquisition costs, life policy reserves and other:
AOCI, beginning of period	$	1	$	—	$	1	$	(6)	$	(1)	$	(5)
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	—		—		—		1		—		1
OCI	(9)		(2)		(7)		(5)		(1)		(4)
AOCI, end of period	$	(8)	$	(2)	$	(6)	$	(11)	$	(2)	$	(9)
Summary of AOCI:
AOCI, beginning of period	$	259	$	55	$	204	$	266	$	56	$	210
Investments OCI	506		107		399		200		43		157
Pension obligations OCI	1		—		1		1		—		1
Life deferred acquisition costs, life policy reserves and other OCI	(9)		(2)		(7)		(5)		(1)		(4)
Total OCI	498		105		393		196		42		154
AOCI, end of period	$	757	$	160	$	597	$	462	$	98	$	364

(Dollars in millions)	Six months ended June 30,
	2020						2019
	Before tax		Income tax		Net		Before tax		Income tax		Net
Investments:
AOCI, beginning of period	$	590	$	123	$	467	$	46	$	9	$	37
OCI before investment gains and losses, net, recognized in net income	107		23		84		443		93		350
Investment gains and losses, net, recognized in net income	75		16		59		(1)		—		(1)
OCI	182		39		143		442		93		349
AOCI, end of period	$	772	$	162	$	610	$	488	$	102	$	386
Pension obligations:
AOCI, beginning of period	$	(9)	$	—	$	(9)	$	(16)	$	(2)	$	(14)
OCI excluding amortization recognized in net income	—		—		—		—		—		—
Amortization recognized in net income	2		—		2		1		—		1
OCI	2		—		2		1		—		1
AOCI, end of period	$	(7)	$	—	$	(7)	$	(15)	$	(2)	$	(13)
Life deferred acquisition costs, life policy reserves and other:
AOCI, beginning of period	$	(13)	$	(3)	$	(10)	$	(1)	$	—	$	(1)
OCI before investment gains and losses, net, recognized in net income	5		1		4		(6)		(1)		(5)
Investment gains and losses, net, recognized in net income	—		—		—		(4)		(1)		(3)
OCI	5		1		4		(10)		(2)		(8)
AOCI, end of period	$	(8)	$	(2)	$	(6)	$	(11)	$	(2)	$	(9)
Summary of AOCI:
AOCI, beginning of period	$	568	$	120	$	448	$	29	$	7	$	22
Investments OCI	182		39		143		442		93		349
Pension obligations OCI	2		—		2		1		—		1
Life deferred acquisition costs, life policy reserves and other OCI	5		1		4		(10)		(2)		(8)
Total OCI	189		40		149		433		91		342
AOCI, end of period	$	757	$	160	$	597	$	462	$	98	$	364