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REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Income Statement (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES      
Policy charges and fee income $ 3,464 $ 3,487 $ 3,515
Net derivative gains (losses) (1,541) (3,831) (1,034)
Other income 57 56 64
Total Revenues 7,791 5,174 6,918
BENEFITS AND OTHER DEDUCTIONS      
Policyholders’ benefits 4,951 4,088 2,960
Interest credited to policyholder's account balances 1,118 1,149 979
Commissions 636 629 625
Amortization of deferred policy acquisition costs 1,333 520 451
Other operating costs and expenses 830 912 2,919
Total benefits and other deductions 9,177 7,637 8,390
Income (loss) from continuing operations, before income taxes (1,386) (2,463) (1,472)
Income tax expense (benefit) from continuing operations 627 579 456
Net income (loss) (759) (1,884) (902)
Net income (loss) attributable to Equitable Financial $ (759) (1,889) (899)
As Previously Reported      
REVENUES      
Policy charges and fee income   3,450 3,523
Net derivative gains (losses)   (3,820) (1,010)
Other income   56 65
Total Revenues   5,148 6,951
BENEFITS AND OTHER DEDUCTIONS      
Policyholders’ benefits   4,119 3,005
Interest credited to policyholder's account balances   1,127 1,002
Commissions   629 620
Amortization of deferred policy acquisition costs   452 431
Other operating costs and expenses   912 2,918
Total benefits and other deductions   7,578 8,432
Income (loss) from continuing operations, before income taxes   (2,430) (1,481)
Income tax expense (benefit) from continuing operations   584 446
Net income (loss)   (1,846) (921)
Net income (loss) attributable to Equitable Financial   (1,851) (918)
Impact of Revisions      
REVENUES      
Policy charges and fee income   37 (8)
Net derivative gains (losses)   (11) (24)
Other income   0 (1)
Total Revenues   26 (33)
BENEFITS AND OTHER DEDUCTIONS      
Policyholders’ benefits   (31) (45)
Interest credited to policyholder's account balances   22 (23)
Commissions   0 5
Amortization of deferred policy acquisition costs   68 20
Other operating costs and expenses   0 1
Total benefits and other deductions   59 (42)
Income (loss) from continuing operations, before income taxes   (33) 9
Income tax expense (benefit) from continuing operations   (5) 10
Net income (loss)   (38) 19
Net income (loss) attributable to Equitable Financial   $ (38) $ 19