XML 71 R59.htm IDEA: XBRL DOCUMENT v3.20.2
DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] $ (1) $ (1) $ (2) $ (2)
Unrealized foreign currency translation gains (losses) during period 73 417 159 416
Derivative gains (losses) 120 122 35 122
Derivative and non-derivative hedging instruments gain (loss) recognized in other comprehensive income effective portion before tax [2] (79) (55) (101) (58)
Cash flow hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] 0 0 (1) (1)
Net investment gains (losses) recognized in income on derivative (ineffective portion) [3] 0 0 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] (2) 0 (6) (2)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] 0 0 (1) (1)
Net investment gains (losses) recognized in income on derivative (ineffective portion) 0 0 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] (2) 0 (6) (2)
Fair value hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] (1) (1) (1) (1)
Net investment gains (losses) recognized in income on derivative (ineffective portion) (2) (15) (8) (28)
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] 1 (1) 1 (2)
Fair value hedges | Foreign currency forwards        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) [3] (1) (15) (7) (24)
Fair value hedges | Foreign currency options        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) [3] (1) 0 (1) (4)
Fair value hedges | Interest rate swaptions        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1],[3] (1) (1) (1) (1)
Net investment gains (losses) recognized in income on derivative (ineffective portion) [3] 0 0 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2],[3] 1 (1) 1 (2)
Net investment hedge        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) 94 0 151 0
Unrealized foreign currency translation gains (losses) during period [2] (78) (54) (96) (54)
Net investment hedge | Foreign currency forwards        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) 101 0 152 0
Unrealized foreign currency translation gains (losses) during period [2] (50) 0 (75) 0
Net investment hedge | Foreign currency options        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) (7) 0 (1) 0
Unrealized foreign currency translation gains (losses) during period [2] 0 0 0 0
Net investment hedge | Non-derivative hedging instruments        
Derivative Instruments, Gain (Loss) [Line Items]        
Net investment gains (losses) recognized in income on derivative (ineffective portion) 0 0 0 0
Unrealized foreign currency translation gains (losses) during period [2] (28) (54) (21) (54)
Non-qualifying strategies        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net 28 137 (108) 150
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net (30) 13 (225) (3)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net 31 0 81 44
Non-qualifying strategies | Foreign currency forwards        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net 30 114 (6) 93
Non-qualifying strategies | Foreign currency options        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net (3) 0 (5) 0
Non-qualifying strategies | Interest rate swaps        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net 2 10 49 16
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, gain (loss) recognized in income, net $ (2) $ 0 $ (2) $ 0
[1] Cash flow hedge items and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses) on derivatives and net investment hedge items are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss).
[2] Impact of cash flow hedges reported as net investment gains (losses) includes an immaterial amount of gains or losses reclassified from accumulated other comprehensive income (loss) into earnings. It also includes an immaterial amount excluded from effectiveness testing during the six-month periods ended June 30, 2020 and 2019, respectively.
[3] Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail)