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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Investments and Cash:    
Available for sale, fixed maturity securities $ 103,128 $ 91,262
Held to maturity, fixed maturity securities, net carrying amount [1] 23,937  
Held to maturity, fixed maturity securities, amortized cost 23,946 30,085
Equity securities 775 802
Commercial mortgage and other loans 10,822 9,569
Other investments 1,904 1,477
Cash and cash equivalents 5,563 4,896
Total investments and cash 146,129 138,091
Receivables 824 828
Accrued investment income 737 772
Deferred policy acquisition costs 10,319 10,128
Property and equipment, at cost less accumulated depreciation 584 581
Other 2,362 2,368
Total assets 160,955 152,768
Policy Liabilities:    
Future policy benefits 95,240 90,335
Unpaid policy claims 4,976 4,659
Unearned premiums 3,729 4,243
Other policyholders’ funds 7,642 7,317
Total policy liabilities 111,587 106,554
Income taxes 4,278 5,370
Payables for return of cash collateral on loaned securities 1,495 1,876
Notes payable and lease obligations 7,825 6,569
Other 3,291 3,440
Total liabilities 128,476 123,809
Commitments and contingent liabilities (Note 13)
Shareholders’ equity:    
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2020 and 2019; issued 1,350,855 shares in 2020 and 1,349,309 shares in 2019 135 135
Additional paid-in capital 2,383 2,313
Retained earnings 37,460 34,291
Accumulated other comprehensive income (loss):    
Unrealized foreign currency translation gains (losses) (1,290) (1,623)
Unrealized gain (losses) on fixed maturity securities 9,520 8,548
Unrealized gains (losses) on derivatives (35) (33)
Pension liability adjustment (278) (277)
Treasury stock, at average cost (15,416) (14,395)
Total shareholders’ equity 32,479 28,959
Total liabilities and shareholders’ equity 160,955 152,768
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Investments and Cash:    
Available for sale, fixed maturity securities 98,844 86,950
Variable Interest Entity, Consolidated    
Investments and Cash:    
Available for sale, fixed maturity securities 4,284 4,312
Commercial mortgage and other loans 9,245 [2] 7,956
Other investments [3] 658 [2] 494
Policy Liabilities:    
Total liabilities $ 240 [2] $ 126
[1] Net of allowance for credit losses
[2] Net of allowance for credit losses
[3] Consists entirely of alternative investments in limited partnerships