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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2018
Dec. 31, 2017
Securities available for sale, at fair value:    
Available for sale, fixed maturity securities [2],[3] $ 82,895 [1],[4] $ 84,313 [5]
Securities held to maturity, at amortized cost:    
Held to maturity, fixed maturity securities 30,318 31,430
Equity securities, at fair value:    
Equity securities [2],[3],[6] 987  
Available for sale securities, equity securities   1,023
Other investments [7] 7,706 3,402
Cash and cash equivalents 4,337 3,491
Total investments and cash 126,243 123,659
Receivables 851 827
Accrued investment income 773 769
Deferred policy acquisition costs 9,875 9,505
Property and equipment, at cost less accumulated depreciation 443 434
Other [8] 2,221 2,023
Total assets 140,406 137,217
Policy liabilities:    
Future policy benefits 86,368 81,857
Unpaid policy claims 4,584 4,392
Unearned premiums 5,090 5,959
Other policyholders' funds 7,146 6,939
Total policy liabilities 103,188 99,147
Income taxes 4,020 4,745
Payables for return of cash collateral on loaned securities 1,052 606
Notes payable 5,778 5,289
Other [9] 2,906 2,832
Commitments and contingent liabilities (Note 15)
Total liabilities 116,944 112,619
Shareholders' equity:    
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2018 and 2017; issued 1,347,540 shares in 2018 and 1,345,762 shares in 2017 135 135
Additional paid-in capital 2,177 2,052
Retained earnings 31,788 29,895
Accumulated other comprehensive income (loss):    
Unrealized foreign currency translation gains (losses) (1,847) (1,750)
Unrealized gains (losses) on fixed maturity securities [10] 4,234 5,964
Unrealized gains (losses) on derivatives (24) (23)
Pension liability adjustment (212) (163)
Treasury stock, at average cost (12,789) (11,512)
Total shareholders' equity 23,462 24,598
Total liabilities and shareholders' equity 140,406 137,217
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Securities available for sale, at fair value:    
Available for sale, fixed maturity securities [11] 78,429 78,804
Securities held to maturity, at amortized cost:    
Held to maturity, fixed maturity securities 30,318 31,430
Equity securities, at fair value:    
Equity securities [11] 827  
Available for sale securities, equity securities [11]   270
Variable Interest Entity, Consolidated    
Securities available for sale, at fair value:    
Available for sale, fixed maturity securities [11],[12] 4,466 5,509
Equity securities, at fair value:    
Equity securities 160  
Available for sale securities, equity securities   753
Other investments [13] 5,856 2,341
Policy liabilities:    
Total liabilities $ 102 $ 128
[1] Includes perpetual securities ($1,139 at amortized cost and $1,140 at fair value)
[2] Includes perpetual securities
[3] Includes perpetual securities
[4] Includes perpetual securities, categorized in accordance with their respective economic maturities (the expected maturity date created by the combination of features in the financial instrument)
[5] Includes perpetual securities ($1,462 at amortized cost and $1,789 at fair value)
[6] Includes perpetual securities ($62 at fair value)
[7] Includes $5,856 in 2018 and $2,341 in 2017 of loan receivables and limited partnerships from consolidated variable interest entities
[8] Includes $182 in 2018 and $151 in 2017 of derivatives from consolidated variable interest entities
[9] Includes $102 in 2018 and $128 in 2017 of derivatives from consolidated variable interest entities
[10] See Note 1 of the Notes to the Consolidated Financial Statements for the adoption of accounting guidance on January 1, 2018 related to financial instruments.
[11] Includes perpetual securities, see Notes 1 and 3 of the Notes to the Consolidated Financial Statements
[12] Includes perpetual securities
[13] Consists of TREs, CMLs, MMLs, and alternative investments in limited partnerships