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Accumulated Other Comprehensive Income (Loss) by Component (Tables)
 9 Months Ended
Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss) by Component
The tables below display the changes in Accumulated other comprehensive income (loss) by component.
(In millions)
Net unrealized gains (losses) on investments with an allowance for credit losses(1)
 
Net unrealized gains (losses) on other investments(1)
 
Pension and postretirement benefits
 
Cumulative foreign currency translation adjustment
 
Total
Balance as of July 1, 2020
$
(9
)
 
$
1,172

 
$
(815
)
 
$
(194
)
 
$
154

Other comprehensive income (loss) before reclassifications
2

 
231

 
(2
)
 
37

 
268

Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $1, $(7), $2, $- and $(4)
(4
)
 
24

 
(9
)
 
—

 
11

Other comprehensive income (loss) net of tax (expense) benefit of $(1), $(56), $(3), $- and $(60)
6

 
207

 
7

 
37

 
257

Balance as of September 30, 2020
$
(3
)
 
$
1,379

 
$
(808
)
 
$
(157
)
 
$
411

(In millions)
Net unrealized gains (losses) on investments with OTTI losses(1)
 
Net unrealized gains (losses) on other investments(1)
 
Pension and postretirement benefits
 
Cumulative foreign currency translation adjustment
 
Total
Balance as of July 1, 2019
$
20

 
$
1,023

 
$
(760
)
 
$
(163
)
 
$
120

Other comprehensive income (loss) before reclassifications
—

 
44

 
—

 
(29
)
 
15

Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $-, $-, $2, $- and $2
—

 
3

 
(7
)
 
—

 
(4
)
Other comprehensive income (loss) net of tax (expense) benefit of $-, $(11), $(2), $- and $(13)
—

 
41

 
7

 
(29
)
 
19

Balance as of September 30, 2019
$
20

 
$
1,064

 
$
(753
)
 
$
(192
)
 
$
139


(1)
As of January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The Net unrealized gains (losses) on investments with OTTI losses column that tracked the change in unrealized gains (losses) on investments with OTTI losses has been replaced with the Net unrealized gains (losses) on investments with an allowance for credit losses column. The balances previously reported in the Net unrealized gains (losses) on investments with OTTI losses column are now reported in the Net unrealized gains (losses) on other investments column.

(In millions)
Net unrealized gains (losses) on investments with an allowance for credit losses(1)
 
Net unrealized gains (losses) on other investments(1)
 
Pension and postretirement benefits
 
Cumulative foreign currency translation adjustment
 
Total
Balance as of January 1, 2020
$
—

 
$
1,025

 
$
(833
)
 
$
(141
)
 
$
51

Other comprehensive income (loss) before reclassifications
(48
)
 
374

 
(3
)
 
(16
)
 
307

Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $12, $(5), $7, $- and $14
(45
)
 
20

 
(28
)
 
—

 
(53
)
Other comprehensive income (loss) net of tax (expense) benefit of $1, $(92), $(7), $- and $(98)
(3
)
 
354

 
25

 
(16
)
 
360

Balance as of September 30, 2020
$
(3
)
 
$
1,379

 
$
(808
)
 
$
(157
)
 
$
411

(In millions)
Net unrealized gains (losses) on investments with OTTI losses(1)
 
Net unrealized gains (losses) on other investments(1)
 
Pension and postretirement benefits
 
Cumulative foreign currency translation adjustment
 
Total
Balance as of January 1, 2019
$
16

 
$
61

 
$
(775
)
 
$
(180
)
 
$
(878
)
Other comprehensive income (loss) before reclassifications
3

 
999

 
(1
)
 
(12
)
 
989

Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $-, $1, $6, $- and $7
(1
)
 
(4
)
 
(23
)
 
—

 
(28
)
Other comprehensive income (loss) net of tax (expense) benefit of $(2), $(266), $(6), $- and $(274)
4

 
1,003

 
22

 
(12
)
 
1,017

Balance as of September 30, 2019
$
20

 
$
1,064

 
$
(753
)
 
$
(192
)
 
$
139

(1)
As of January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The Net unrealized gains (losses) on investments with OTTI losses column that tracked the change in unrealized gains (losses) on investments with OTTI losses has been replaced with the Net unrealized gains (losses) on investments with an allowance for credit losses column. The balances previously reported in the Net unrealized gains (losses) on investments with OTTI losses column are now reported in the Net unrealized gains (losses) on other investments column.
Reclassification out of Accumulated Other Comprehensive Income
Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows:
Component of AOCI
 
Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications
Net unrealized gains (losses) on investments with an allowance for credit losses, Net unrealized gains (losses) on investments with OTTI losses and Net unrealized gains (losses) on other investments
 
Net investment gains (losses)
Pension and postretirement benefits
 
Other operating expenses and Insurance claims and policyholders' benefits