CLOSED BLOCK

Summarized financial information for the Company's Closed Block is as follows:



	December 31,
	2017		2016
	(in millions)
CLOSED BLOCK LIABILITIES:
Future policy benefits, policyholders’ account balances and other	$	6,945	$	7,179
Policyholder dividend obligation	32		52
Other liabilities	271		43
Total Closed Block liabilities	7,248		7,274
ASSETS DESIGNATED TO THE CLOSED BLOCK:
Fixed maturities, available for sale, at fair value (amortized cost of $3,923 and $3,884)	4,070		4,025
Mortgage loans on real estate	1,720		1,623
Policy loans	781		839
Cash and other invested assets	351		444
Other assets	219		213
Total assets designated to the Closed Block	7,141		7,144
Excess of Closed Block liabilities over assets designated to the Closed Block	107		130
Amounts included in accumulated other comprehensive income (loss):
Net unrealized investment gains (losses), net of policyholder dividend obligation of $32 and $52	138		100
Maximum Future Income To Be Recognized From Closed Block Assets and Liabilities	$	245	$	230

The Company’s Closed Block revenues and expenses follow:



	2017			2016			2015
	(in millions)
REVENUES:
Premiums and other income	$	224		$	212		$	236
Investment income (loss)	314			349			368
Net investment gains (losses)	(20		)	(1		)	2
Total revenues	518			560			606
BENEFITS AND OTHER DEDUCTIONS:
Policyholders’ benefits and dividends	537			522			550
Other operating costs and expenses	2			4			4
Total benefits and other deductions	539			526			554
Net revenues, before income taxes	(21		)	34			52
Income tax (expense) benefit	6			(12		)	(18		)
Net Revenues (Losses)	$	(15	)	$	22		$	34

A reconciliation of the Company’s policyholder dividend obligation follows:



	December 31,
	2017			2016
	(in millions)
Balances, beginning of year	$	52		$	81
Unrealized investment gains (losses)	(20		)	(29		)
Balances, End of year	$	32		$	52