Years Ended December 31, | | | | | | | (in millions) | | 2017 | | 2016 | | 2015 | Balance, beginning of year | $ | 11,042 | $ | 11,115 | $ | 9,828 | Dispositions | | (35) | | (110) | | - | Acquisition costs deferred | | 4,820 | | 5,216 | | 5,825 | Amortization expense | | (4,288) | | (4,521) | | (5,236) | Change in net unrealized gains (losses) on securities | | (505) | | (259) | | 848 | Other, including foreign exchange | | (40) | | 72 | | (150) | Reclassified to Assets held for sale | | - | | (471) | | - | Balance, end of year* | $ | 10,994 | $ | 11,042 | $ | 11,115 | Supplemental Information: | | | | | | | VOBA amortization expense included in DAC amortization | | 20 | | 40 | | 64 | VOBA, end of year included in DAC balance | | 381 | | 393 | | 453 |
* Net of reductions in DAC of $1.3 billion, $842 million, and $583 million at December 31, 2017, 2016 and 2015, respectively, related to the effect of net unrealized gains and losses on available for sale securities (shadow DAC).
|