XML 114 R49.htm IDEA: XBRL DOCUMENT v3.19.2
FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period $ 33,723 $ 35,000 $ 33,610 $ 35,763
Net Realized and Unrealized Gains (Losses) Included in Income 400 307 717 678
Other Comprehensive Income (Loss) 412 (51) 642 (211)
Purchases, Sales, Issuances and Settlements, Net (860) (1,275) (1,351) (2,685)
Gross Transfers In, assets 501 58 1,299 624
Gross Transfers Out, assets (394) (1,794) (1,135) (1,924)
Balance End of Period 33,782 32,245 33,782 32,245
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 79 359 107 391
Liabilities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period 5,010 3,874 4,269 4,323
Net realized and unrealized gains and losses related to Level 3 items, liabilities 923 (247) 1,452 (789)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 197 81 409 174
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 2 0 2
Balance at the End of the Period 6,130 3,710 6,130 3,710
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities (785) 311 (1,257) 942
Derivative liabilities, net        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period 132 178 153 187
Net realized and unrealized gains and losses related to Level 3 items, liabilities (47) (9) (87) (45)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (20) 5 (1) 32
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 2 0 2
Balance at the End of the Period 65 176 65 176
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities 47 13 95 40
Interest rate contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period 15 17 15 22
Net realized and unrealized gains and losses related to Level 3 items, liabilities 2 (1) 3 (4)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (1) (2) (2) (4)
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Balance at the End of the Period 16 14 16 14
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities (2) 1 (3) 4
Foreign exchange contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period (1) 1 (5) 0
Net realized and unrealized gains and losses related to Level 3 items, liabilities (5) 6 (10) (4)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 2 (2) 11 9
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Balance at the End of the Period (4) 5 (4) 5
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities 4 (4) 4 (3)
Equity contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period (96) (78) (75) (82)
Net realized and unrealized gains and losses related to Level 3 items, liabilities (4) 5 (20) 9
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (13) (8) (18) (8)
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 2 0 2
Balance at the End of the Period (113) (79) (113) (79)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities 4 (5) 32 (9)
Credit contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period 222 250 227 262
Net realized and unrealized gains and losses related to Level 3 items, liabilities (24) (4) (27) (14)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (25) 0 (27) (2)
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Balance at the End of the Period 173 246 173 246
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities 23 3 27 13
Other contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period (8) (12) (9) (15)
Net realized and unrealized gains and losses related to Level 3 items, liabilities (16) (15) (33) (32)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 17 17 35 37
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Balance at the End of the Period (7) (10) (7) (10)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities 18 18 35 35
Policyholder contract deposits        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance at the Beginning of the Period 4,878 3,696 4,116 4,136
Net realized and unrealized gains and losses related to Level 3 items, liabilities 970 (238) 1,539 (744)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 217 76 410 142
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Balance at the End of the Period 6,065 3,534 6,065 3,534
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Year, liabilities (832) 298 (1,352) 902
Bonds available for sale        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 27,448 28,410 27,093 28,996
Net Realized and Unrealized Gains (Losses) Included in Income 223 150 451 370
Other Comprehensive Income (Loss) 411 (51) 641 (212)
Purchases, Sales, Issuances and Settlements, Net (187) (995) (444) (2,084)
Gross Transfers In, assets 501 58 1,299 623
Gross Transfers Out, assets (383) (1,794) (1,027) (1,915)
Balance End of Period 28,013 25,778 28,013 25,778
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Obligations of states, municipalities and political subdivisions        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 2,136 2,261 2,000 2,404
Net Realized and Unrealized Gains (Losses) Included in Income 0 0 (1) 1
Other Comprehensive Income (Loss) 105 (40) 202 (115)
Purchases, Sales, Issuances and Settlements, Net 62 (29) 86 (98)
Gross Transfers In, assets 6 0 35 0
Gross Transfers Out, assets (147) (136) (160) (136)
Balance End of Period 2,162 2,056 2,162 2,056
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Non-U.S. governments        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 3 9 11 8
Net Realized and Unrealized Gains (Losses) Included in Income (1) (1) (1) (5)
Other Comprehensive Income (Loss) 0 2 0 6
Purchases, Sales, Issuances and Settlements, Net 0 (5) (4) (4)
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 (5) (4) (5)
Balance End of Period 2 0 2 0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Corporate debt        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 1,532 1,871 864 1,173
Net Realized and Unrealized Gains (Losses) Included in Income 29 (8) 26 (65)
Other Comprehensive Income (Loss) 43 (7) 81 3
Purchases, Sales, Issuances and Settlements, Net (99) (394) (65) (146)
Gross Transfers In, assets 389 3 1,043 568
Gross Transfers Out, assets (73) (581) (128) (649)
Balance End of Period 1,821 884 1,821 884
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Residential mortgage-backed securities (RMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 14,045 15,839 14,199 16,136
Net Realized and Unrealized Gains (Losses) Included in Income 182 153 409 419
Other Comprehensive Income (Loss) 137 (5) 161 0
Purchases, Sales, Issuances and Settlements, Net (404) (616) (816) (1,152)
Gross Transfers In, assets 44 8 67 8
Gross Transfers Out, assets (141) (2) (157) (34)
Balance End of Period 13,863 15,377 13,863 15,377
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Commercial mortgage-backed securities (CMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 892 584 917 624
Net Realized and Unrealized Gains (Losses) Included in Income 5 (2) 6 4
Other Comprehensive Income (Loss) 13 (4) 30 (21)
Purchases, Sales, Issuances and Settlements, Net 150 (7) 296 (30)
Gross Transfers In, assets 58 47 58 47
Gross Transfers Out, assets (15) (13) (204) (19)
Balance End of Period 1,103 605 1,103 605
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 8,840 7,846 9,102 8,651
Net Realized and Unrealized Gains (Losses) Included in Income 8 8 12 16
Other Comprehensive Income (Loss) 113 3 167 (85)
Purchases, Sales, Issuances and Settlements, Net 104 56 59 (654)
Gross Transfers In, assets 4 0 96 0
Gross Transfers Out, assets (7) (1,057) (374) (1,072)
Balance End of Period 9,062 6,856 9,062 6,856
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Other bond securities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 5,599 6,295 5,845 6,512
Net Realized and Unrealized Gains (Losses) Included in Income 159 131 248 259
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (679) (358) (918) (695)
Gross Transfers In, assets 0 0 0 1
Gross Transfers Out, assets (11) 0 (107) (9)
Balance End of Period 5,068 6,068 5,068 6,068
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 58 359 85 366
Other bond securities | Corporate debt        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 0 19 0 18
Net Realized and Unrealized Gains (Losses) Included in Income 0 (1) 0 0
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 0 0 0 0
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Balance End of Period 0 18 0 18
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 1
Other bond securities | Residential mortgage-backed securities (RMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 1,266 1,427 1,290 1,464
Net Realized and Unrealized Gains (Losses) Included in Income 43 16 60 55
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (479) (105) (520) (181)
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Balance End of Period 830 1,338 830 1,338
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets (19) 151 (19) 153
Other bond securities | Commercial mortgage-backed securities (CMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 84 73 77 74
Net Realized and Unrealized Gains (Losses) Included in Income 0 (2) 4 (3)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 14 0 17 (1)
Gross Transfers In, assets 0 0 0 1
Gross Transfers Out, assets (10) 0 (10) 0
Balance End of Period 88 71 88 71
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 1 4 4 4
Other bond securities | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 4,249 4,776 4,478 4,956
Net Realized and Unrealized Gains (Losses) Included in Income 116 118 184 207
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net (214) (253) (415) (513)
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets (1) 0 (97) (9)
Balance End of Period 4,150 4,641 4,150 4,641
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 76 204 100 208
Equity securities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 26 3 27 0
Net Realized and Unrealized Gains (Losses) Included in Income 0 (3) 0 (3)
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 9 0 9 3
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 (1) 0
Balance End of Period 35 0 35 0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 3 0 3 0
Mortgage and other loans receivable        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 0 0 0 5
Net Realized and Unrealized Gains (Losses) Included in Income 0 0 0 0
Other Comprehensive Income (Loss) 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net 0 0 0 (5)
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Balance End of Period 0 0 0 0
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 0 0 0 0
Other invested assets        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 591 292 587 250
Net Realized and Unrealized Gains (Losses) Included in Income 18 29 18 52
Other Comprehensive Income (Loss) 1 0 1 1
Purchases, Sales, Issuances and Settlements, Net (5) 78 (1) 96
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Balance End of Period 605 399 605 399
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets 18 $ 0 19 $ 25
Other assets        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Balance Beginning of Period 59   58  
Net Realized and Unrealized Gains (Losses) Included in Income 0   0  
Other Comprehensive Income (Loss) 0   0  
Purchases, Sales, Issuances and Settlements, Net 2   3  
Gross Transfers In, assets 0   0  
Gross Transfers Out, assets 0   0  
Balance End of Period 61   61  
Changes in Unrealized Gains (Losses) on Instruments Held at End of Period, assets $ 0   $ 0