XML 226 R153.htm IDEA: XBRL DOCUMENT v3.8.0.1
INCOME TAXES (Details - EFFECTIVE TAX RATE) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income (loss) from continuing operations before income tax expense (benefit)                          
U.S.                   $ 1,940 $ 1,041 $ 1,950  
Foreign                   (474) (1,115) 1,331  
Income (loss) from continuing operations before income tax expense (benefit) $ 875 $ (2,803) $ 1,667 $ 1,727 $ (3,455) $ 737 $ 2,858 $ (214)   1,466 (74) 3,281  
Foreign:                          
Current                   209 436 391  
Deferred                   25 (121) (95)  
U.S.:                          
Current                   427 140 429  
Deferred                   6,865 (270) 334  
Income tax expense (benefit)                   7,526 185 1,059  
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, pre-tax income (loss)                          
Consolidated total amounts                   1,476 (159) 3,281  
Amounts attributable to discontinued operations                   10 (85) 0  
Income (loss) from continuing operations before income tax expense (benefit) 875 (2,803) 1,667 1,727 (3,455) 737 2,858 (214)   1,466 (74) 3,281  
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, tax expense/benefit                          
U.S. federal income tax at statutory rate                   517 (56) 1,148  
Consolidated total amounts                   7,532 190 1,059  
Amounts attributable to discontinued operations                   6 5 0  
Income tax expense (benefit)                   7,526 185 1,059  
Adjustments:                          
Tax exempt interest                   (111) (178) (195)  
Uncertain tax positions                   660 268 195  
Reclassifications from accumulated other comprehensive income                   (184) (132) (127)  
Partial completion of Internal Revenue Service examination                     116 109  
Tax exempt income                   201 253 195  
Cross Border Financing Transactions                   660 216 324  
Dispositions of Subsidiaries                   17 118 0  
Tax Attribute Restoration                   0 (164) 0  
Non-controlling Interest                   (7) (81) 0  
Non-deductible transfer pricing charges                   35 102 97  
Dividends received deduction                   (90) (75) (72)  
Effect of foreign operations                   69 234 (58)  
Share-based compensation payments excess tax deduction                   (40) 0 0  
State income taxes                   (9) 23 34  
Impact of Tax Act 6,687                 6,687 0 0  
Other                   (58) 13 (73)  
Effect of discontinued operations                   3 35 0  
Valuation allowance                          
Continuing operations                   43 $ 83 $ 110  
Increase (Decrease) in certain other valuation allowances associated with foreign jurisdictions                   43      
Increase (Decrease) in certain other valuation allowances associated with certain state jurisdictions.   (26)               (634)      
Valuation allowance related to unrealized losses that are no more-likely-than-not to be realized                   $ 43      
Reconciliation between actual income tax (benefit) expense and statutory U.S. federal amount computed by applying the federal income tax rate, percentage of pre-tax income (loss)                          
U.S. federal income tax at statutory rate (as a percent)                 21.00% 35.00% 35.00% 35.00%  
Consolidated total amounts (as a percent)                   510.30% (119.50%) 32.30%  
Amounts attributable to discontinued operations (as a percent)                   60.00% (5.90%) 0.00%  
Adjustments:                          
Amounts attributable to continuing operations (as a percent)                   513.40% (250.00%) 32.30%  
Tax exempt interest (as a percent)                   (7.50%) 111.90% (5.90%)  
Uncertain Tax Positions (as a percent)                   44.70% (168.60%) 5.90%  
Reclassification from accumulated other comprehensive income (as a percent)                   (12.50%) 83.00% (3.90%)  
Dispositions of Subsidiaries (as a percent)                   1.20% (74.20%)    
Tax Attribute Restoration (as a percent)                   0.00% 103.10% 0.00%  
Non-controlling Interest (as a percent)                   (0.50%) 50.90%    
Non-deductible transfer pricing charges (as a percent)                   2.40% (64.20%) 3.00%  
Dividends received deduction (as a percent)                   (6.10%) 47.20% (2.20%)  
Effect of foreign operations (as a percent)                   4.70% (147.20%) (1.80%)  
Share-based compensation payments excess tax deduction (as a percent)                   (2.70%) 0.00% 0.00%  
State income taxes (as a percent)                   (0.60%) (14.50%) 1.00%  
Impact of Tax Act (as a percent)                   453.00% 0.00% 0.00%  
Other (as a percent)                   (3.90%) (8.20%) (2.20%)  
Effect of discontinued operations (as a percent)                   0.20% (22.00%) 0.00%  
Valuation allowance (as a percent):                          
Continuing operations (as a percent)                   2.90% (52.20%) 3.40%  
Undistributed Earnings of Foreign Subsidiaries 0                 $ 0      
Accounting for Uncertainty in Income Taxes                          
Unrecognized tax benefits, excluding interest and penalties 4,707       4,530         4,707 $ 4,530 $ 4,331 $ 4,395
Unrecognized tax benefits, if recognized would not affect the effective tax rate 28       66         28 66 115  
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate 4,700       4,400         4,700 4,400 4,200  
Unrecognized tax benefits, interest and penalties accrued 2,000       1,200         2,000 1,200 1,200  
Unrecognized tax benefits, interest net of the federal benefit (expense) and penalties                   $ 776 26 156  
Deferred tax asset valuation allowance recognized $ 40 $ 24 $ (8) $ (13) $ 87 $ (2) $ 35 $ (37)          
US Life companies capital loss carryforward                          
Valuation allowance                          
Continuing operations                       $ 0  
Other valuation allowance associated with foreign jurisdictions | Residential mortgages dispute resolution                          
Adjustments:                          
Other                     $ 0