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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2019
Dec. 31, 2018
Investments and Cash:    
Available for sale, fixed maturity securities $ 87,924 $ 82,895
Held to maturity, fixed maturity securities 30,163 30,318
Equity securities 1,041 987
Commercial mortgage and other loans 7,180 6,919
Other investments 1,238 787
Cash and cash equivalents 3,892 4,337
Total investments and cash 131,438 126,243
Receivables 858 851
Accrued investment income 728 773
Deferred policy acquisition costs 9,892 9,875
Property and equipment, at cost less accumulated depreciation [1] 559 443
Other 2,204 2,221
Total assets 145,679 140,406
Policy Liabilities:    
Future policy benefits 87,011 86,368
Unpaid policy claims 4,625 4,584
Unearned premiums 4,859 5,090
Other policyholders’ funds 7,185 7,146
Total policy liabilities 103,680 103,188
Income taxes 5,182 4,020
Payables for return of cash collateral on loaned securities 1,969 1,052
Notes payable and lease obligations [1] 5,900 5,778
Other 2,899 2,906
Total liabilities 119,630 116,944
Commitments and contingent liabilities (Note 12)
Shareholders’ equity:    
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2019 and 2018; issued 1,348,600 shares in 2019 and 1,347,540 shares in 2018 135 135
Additional paid-in capital 2,208 2,177
Retained earnings 32,513 31,788
Accumulated other comprehensive income (loss):    
Unrealized foreign currency translation gains (losses) (1,848) (1,847)
Unrealized gain (losses) on fixed maturity securities 6,561 4,234
Unrealized gains (losses) on derivatives (26) (24)
Pension liability adjustment (206) (212)
Treasury stock, at average cost (13,288) (12,789)
Total shareholders’ equity 26,049 23,462
Total liabilities and shareholders’ equity 145,679 140,406
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Investments and Cash:    
Available for sale, fixed maturity securities 83,381 78,429
Variable Interest Entity, Consolidated    
Investments and Cash:    
Available for sale, fixed maturity securities 4,543 4,466
Equity securities 180 160
Commercial mortgage and other loans 5,892 5,528
Other investments [2] 374 328
Policy Liabilities:    
Total liabilities $ 108 $ 102
[1] See Note 1 of the Notes to the Consolidated Financial Statements for the adoption of accounting guidance on January 1, 2019 related to leases.
[2] Consists entirely of alternative investments in limited partnerships