Fair Values of Assets and Liabilities (Tables)
|
9 Months Ended |
Sep. 30, 2013
|
Fair Value Disclosures [Abstract] |
|
Schedule of assets and liabilities measured at fair value on a recurring basis |
The following tables present the balances of assets and liabilities of Ameriprise Financial measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | September 30, 2013 | | | Level 1 | | Level 2 | | Level 3 | | Total | | | (in millions) | | Assets | |
| | |
| | |
| | |
| | Cash equivalents | $ | 19 |
| | $ | 2,375 |
| | $ | — |
| | $ | 2,394 |
| | Available-for-Sale securities: | |
| | |
| | |
| | |
| | Corporate debt securities | — |
| | 15,870 |
| | 1,632 |
| | 17,502 |
| | Residential mortgage backed securities | — |
| | 5,655 |
| | 288 |
| | 5,943 |
| | Commercial mortgage backed securities | — |
| | 2,755 |
| | 15 |
| | 2,770 |
| | Asset backed securities | — |
| | 1,222 |
| | 203 |
| | 1,425 |
| | State and municipal obligations | — |
| | 2,123 |
| | — |
| | 2,123 |
| | U.S. government and agencies obligations | 17 |
| | 36 |
| | — |
| | 53 |
| | Foreign government bonds and obligations | — |
| | 252 |
| | — |
| | 252 |
| | Common stocks | 5 |
| | 6 |
| | 5 |
| | 16 |
| | Total Available-for-Sale securities | 22 |
| | 27,919 |
| | 2,143 |
| | 30,084 |
| | Trading securities | 3 |
| | 23 |
| | — |
| | 26 |
| | Separate account assets | — |
| | 77,788 |
| | — |
| | 77,788 |
| | Other assets: | | | | | | | | | Interest rate derivative contracts | — |
| | 1,642 |
| | — |
| | 1,642 |
| | Equity derivative contracts | 385 |
| | 1,133 |
| | — |
| | 1,518 |
| | Foreign currency derivative contracts | 1 |
| | 2 |
| | — |
| | 3 |
| | Total other assets | 386 |
| | 2,777 |
| | — |
| | 3,163 |
| | Total assets at fair value | $ | 430 |
| | $ | 110,882 |
| | $ | 2,143 |
| | $ | 113,455 |
| | Liabilities | | | | | | | | | Future policy benefits: | |
| | |
| | |
| | |
| | EIA embedded derivatives | $ | — |
| | $ | 4 |
| | $ | — |
| | $ | 4 |
| | IUL embedded derivatives | — |
| | — |
| | 96 |
| | 96 |
| | GMWB and GMAB embedded derivatives | — |
| | — |
| | (256 | ) | | (256 | ) | (2) | Total future policy benefits | — |
| | 4 |
| | (160 | ) | | (156 | ) | (1) | Customer deposits | — |
| | 7 |
| | — |
| | 7 |
| | Other liabilities: | |
| | |
| | |
| | |
| | Interest rate derivative contracts | — |
| | 1,554 |
| | — |
| | 1,554 |
| | Equity derivative contracts | 333 |
| | 2,083 |
| | — |
| | 2,416 |
| | Credit derivative contracts | — |
| | 6 |
| | — |
| | 6 |
| | Foreign currency derivative contracts | 1 |
| | — |
| | — |
| | 1 |
| | Other | — |
| | 12 |
| | — |
| | 12 |
| | Total other liabilities | 334 |
| | 3,655 |
| | — |
| | 3,989 |
| | Total liabilities at fair value | $ | 334 |
| | $ | 3,666 |
| | $ | (160 | ) | | $ | 3,840 |
| |
(1) The Company’s adjustment for nonperformance risk resulted in a $238 million cumulative increase to the embedded derivatives. (2) The fair value of the GMWB and GMAB embedded derivatives was a net asset at September 30, 2013 and the amount is reported as a contra liability.
| | | | | | | | | | | | | | | | | | | December 31, 2012 | | | Level 1 | | Level 2 | | Level 3 | | Total | | | (in millions) | | Assets | |
| | |
| | |
| | |
| | Cash equivalents | $ | 18 |
| | $ | 1,539 |
| | $ | — |
| | $ | 1,557 |
| | Available-for-Sale securities: | |
| | |
| | |
| | |
| | Corporate debt securities | — |
| | 17,051 |
| | 1,764 |
| | 18,815 |
| | Residential mortgage backed securities | — |
| | 5,145 |
| | 284 |
| | 5,429 |
| | Commercial mortgage backed securities | — |
| | 3,213 |
| | 206 |
| | 3,419 |
| | Asset backed securities | — |
| | 1,097 |
| | 178 |
| | 1,275 |
| | State and municipal obligations | — |
| | 2,239 |
| | — |
| | 2,239 |
| | U.S. government and agencies obligations | 19 |
| | 39 |
| | — |
| | 58 |
| | Foreign government bonds and obligations | — |
| | 224 |
| | — |
| | 224 |
| | Common stocks | 3 |
| | 4 |
| | 6 |
| | 13 |
| | Total Available-for-Sale securities | 22 |
| | 29,012 |
| | 2,438 |
| | 31,472 |
| | Trading securities | 1 |
| | 24 |
| | — |
| | 25 |
| | Separate account assets | — |
| | 72,397 |
| | — |
| | 72,397 |
| | Other assets: | |
| | |
| | |
| | |
| | Interest rate derivative contracts | — |
| | 2,358 |
| | — |
| | 2,358 |
| | Equity derivative contracts | 285 |
| | 973 |
| | — |
| | 1,258 |
| | Foreign currency derivative contracts | — |
| | 6 |
| | — |
| | 6 |
| | Commodity derivative contracts | — |
| | 1 |
| | — |
| | 1 |
| | Total other assets | 285 |
| | 3,338 |
| | — |
| | 3,623 |
| | Total assets at fair value | $ | 326 |
| | $ | 106,310 |
| | $ | 2,438 |
| | $ | 109,074 |
| | Liabilities | |
| | |
| | |
| | |
| | Future policy benefits: | |
| | |
| | |
| | |
| | EIA embedded derivatives | $ | — |
| | $ | 2 |
| | $ | — |
| | $ | 2 |
| | IUL embedded derivatives | — |
| | — |
| | 45 |
| | 45 |
| | GMWB and GMAB embedded derivatives | — |
| | — |
| | 833 |
| | 833 |
| | Total future policy benefits | — |
| | 2 |
| | 878 |
| | 880 |
| (1) | Customer deposits | — |
| | 8 |
| | — |
| | 8 |
| | Other liabilities: | |
| | |
| | |
| | |
| | Interest rate derivative contracts | — |
| | 1,486 |
| | — |
| | 1,486 |
| | Equity derivative contracts | 258 |
| | 1,565 |
| | — |
| | 1,823 |
| | Foreign currency derivative contracts | 1 |
| | — |
| | — |
| | 1 |
| | Other | 1 |
| | 3 |
| | — |
| | 4 |
| | Total other liabilities | 260 |
| | 3,054 |
| | — |
| | 3,314 |
| | Total liabilities at fair value | $ | 260 |
| | $ | 3,064 |
| | $ | 878 |
| | $ | 4,202 |
| |
(1) The Company’s adjustment for nonperformance risk resulted in a $398 million cumulative decrease to the embedded derivatives. |
Schedule of changes in level 3 assets and liabilities measured at fair value on a recurring basis |
The following tables provide a summary of changes in Level 3 assets and liabilities of Ameriprise Financial measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-Sale Securities | | Future Policy Benefits | | Corporate Debt Securities | | Residential Mortgage Backed Securities | | Commercial Mortgage Backed Securities | | Asset Backed Securities | | Common Stocks | | Total | | IUL Embedded Derivatives | | GMWB and GMAB Embedded Derivatives | | Total | | (in millions) | Balance, July 1, 2013 | $ | 1,667 |
| | $ | 69 |
| | $ | 210 |
| | $ | 214 |
| | $ | 5 |
| | $ | 2,165 |
| | $ | (76 | ) | | $ | (11 | ) | | $ | (87 | ) | Total gains (losses) included in: | Net income | (1 | ) | | — |
| | — |
| | — |
| | — |
| | (1 | ) | (1) | (2 | ) | (2) | 322 |
| (3) | 320 |
| Other comprehensive income | 3 |
| | (1 | ) | | — |
| | (2 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| Purchases | — |
| | 245 |
| | — |
| | 29 |
| | — |
| | 274 |
| | — |
| | — |
| | — |
| Sales | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Issues | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (17 | ) | | (60 | ) | | (77 | ) | Settlements | (37 | ) | | (6 | ) | | (36 | ) | | (1 | ) | | — |
| | (80 | ) | | (1 | ) | | 5 |
| | 4 |
| Transfers into Level 3 | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Transfers out of Level 3 | — |
| | (19 | ) | | (159 | ) | | (37 | ) | | — |
| | (215 | ) | | — |
| | — |
| | — |
| Balance, September 30, 2013 | $ | 1,632 |
| | $ | 288 |
| | $ | 15 |
| | $ | 203 |
| | $ | 5 |
| | $ | 2,143 |
| | $ | (96 | ) | | $ | 256 |
| | $ | 160 |
| | | | | | | | | | | | | | | | | | | Changes in unrealized gains (losses) relating to assets and liabilities held at September 30, 2013 included in: | Net investment income | $ | (1 | ) | | $ | — |
| | $ | — |
| | $ | 1 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Interest credited to fixed accounts | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Benefits, claims, losses and settlement expenses | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 321 |
| | 321 |
|
(1) Included in net investment income in the Consolidated Statements of Operations. (2) Included in interest credited to fixed accounts in the Consolidated Statements of Operations. (3) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-Sale Securities | | Future Policy Benefits | | Corporate Debt Securities | | Residential Mortgage Backed Securities | | Commercial Mortgage Backed Securities | | Asset Backed Securities | | Common Stocks | | Total | | IUL Embedded Derivatives | | GMWB and GMAB Embedded Derivatives | | Total | | (in millions) | Balance, July 1, 2012 | $ | 1,485 |
| | $ | 238 |
| | $ | 69 |
| | $ | 185 |
| | $ | 5 |
| | $ | 1,982 |
| | $ | — |
| | $ | (1,406 | ) | | $ | (1,406 | ) | Total gains (losses) included in: | Net income | (1 | ) | | (31 | ) | | 1 |
| | 1 |
| | — |
| | (30 | ) | (1) | 1 |
| (2) | 321 |
| (3) | 322 |
| Other comprehensive income | 14 |
| | 40 |
| | 4 |
| | 3 |
| | — |
| | 61 |
| | — |
| | — |
| | — |
| Purchases | 139 |
| | 54 |
| | — |
| | — |
| | — |
| | 193 |
| | — |
| | — |
| | — |
| Sales | — |
| | (75 | ) | | — |
| | — |
| | — |
| | (75 | ) | | — |
| | — |
| | — |
| Issues | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (16 | ) | | (49 | ) | | (65 | ) | Settlements | (40 | ) | | (8 | ) | | (1 | ) | | (4 | ) | | — |
| | (53 | ) | | — |
| | (8 | ) | | (8 | ) | Transfers into Level 3 | — |
| | — |
| | 146 |
| | 15 |
| | — |
| | 161 |
| | (22 | ) | | — |
| | (22 | ) | Transfers out of Level 3 | — |
| | (146 | ) | | (7 | ) | | — |
| | — |
| | (153 | ) | | — |
| | — |
| | — |
| Balance, September 30, 2012 | $ | 1,597 |
| | $ | 72 |
| | $ | 212 |
| | $ | 200 |
| | $ | 5 |
| | $ | 2,086 |
| | $ | (37 | ) | | $ | (1,142 | ) | | $ | (1,179 | ) | | | | | | | | | | | | | | | | | | | Changes in unrealized gains (losses) relating to assets and liabilities held at September 30, 2012 included in: | Net investment income | $ | (1 | ) | | $ | — |
| | $ | 1 |
| | $ | 1 |
| | $ | — |
| | 1 |
| | $ | — |
| | $ | — |
| | $ | — |
| Interest credited to fixed accounts | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 1 |
| | — |
| | 1 |
| Benefits, claims, losses and settlement expenses | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 310 |
| | 310 |
|
(1) Included in net investment income in the Consolidated Statements of Operations. (2) Included in interest credited to fixed accounts in the Consolidated Statements of Operations. (3) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-Sale Securities | | Future Policy Benefits | | Corporate Debt Securities | | Residential Mortgage Backed Securities | | Commercial Mortgage Backed Securities | | Asset Backed Securities | | Common Stocks | | Total | | IUL Embedded Derivatives | | GMWB and GMAB Embedded Derivatives | | Total | | (in millions) | Balance, January 1, 2013 | $ | 1,764 |
| | $ | 284 |
| | $ | 206 |
| | $ | 178 |
| | $ | 6 |
| | $ | 2,438 |
| | $ | (45 | ) | | $ | (833 | ) | | $ | (878 | ) | Total gains (losses) included in: | Net income | (2 | ) | | — |
| | — |
| | 1 |
| | — |
| | (1 | ) | (1) | (8 | ) | (2) | 1,246 |
| (3) | 1,238 |
| Other comprehensive loss | (34 | ) | | (1 | ) | | (6 | ) | | 5 |
| | — |
| | (36 | ) | | — |
| | — |
| | — |
| Purchases | 74 |
| | 307 |
| | 10 |
| | 200 |
| | — |
| | 591 |
| | — |
| | — |
| | — |
| Sales | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Issues | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (42 | ) | | (163 | ) | | (205 | ) | Settlements | (170 | ) | | (7 | ) | | (36 | ) | | (4 | ) | | — |
| | (217 | ) | | (1 | ) | | 6 |
| | 5 |
| Transfers into Level 3 | — |
| | — |
| | — |
| | 8 |
| | — |
| | 8 |
| | — |
| | — |
| | — |
| Transfers out of Level 3 | — |
| | (295 | ) | | (159 | ) | | (185 | ) | | (1 | ) | | (640 | ) | | — |
| | — |
| | — |
| Balance, September 30, 2013 | $ | 1,632 |
| | $ | 288 |
| | $ | 15 |
| | $ | 203 |
| | $ | 5 |
| | $ | 2,143 |
| | $ | (96 | ) | | $ | 256 |
| | $ | 160 |
| | | | | | | | | | | | | | | | | | | Changes in unrealized gains (losses) relating to assets and liabilities held at September 30, 2013 included in: | Net investment income | $ | (2 | ) | | $ | — |
| | $ | — |
| | $ | 1 |
| | $ | — |
| | $ | (1 | ) | | $ | — |
| | $ | — |
| | $ | — |
| Interest credited to fixed accounts | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (8 | ) | | — |
| | (8 | ) | Benefits, claims, losses and settlement expenses | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 1,229 |
| | 1,229 |
|
(1) Included in net investment income in the Consolidated Statements of Operations. (2) Included in interest credited to fixed accounts in the Consolidated Statements of Operations. (3) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-Sale Securities | | Future Policy Benefits | | Corporate Debt Securities | | Residential Mortgage Backed Securities | | Commercial Mortgage Backed Securities | | Asset Backed Securities | | Common Stocks | | Total | | IUL Embedded Derivatives | | GMWB and GMAB Embedded Derivatives | | Total | | (in millions) | Balance, January 1, 2012 | $ | 1,355 |
| | $ | 215 |
| | $ | 50 |
| | $ | 189 |
| | $ | 5 |
| | $ | 1,814 |
| | $ | — |
| | $ | (1,585 | ) | | $ | (1,585 | ) | Total gains (losses) included in: | Net income | (1 | ) | | (45 | ) | | 1 |
| | 2 |
| | — |
| | (43 | ) | (1) | 1 |
| (2) | 577 |
| (3) | 578 |
| Other comprehensive income | 19 |
| | 68 |
| | 6 |
| | 4 |
| | — |
| | 97 |
| | — |
| | — |
| | — |
| Purchases | 349 |
| | 99 |
| | 9 |
| | — |
| | 1 |
| | 458 |
| | — |
| | — |
| | — |
| Sales | — |
| | (75 | ) | | — |
| | — |
| | — |
| | (75 | ) | | — |
| | — |
| | — |
| Issues | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | (16 | ) | | (131 | ) | | (147 | ) | Settlements | (135 | ) | | (38 | ) | | (3 | ) | | (17 | ) | | — |
| | (193 | ) | | — |
| | (3 | ) | | (3 | ) | Transfers into Level 3 | 10 |
| | 22 |
| | 183 |
| | 22 |
| | — |
| | 237 |
| | (22 | ) | | — |
| | (22 | ) | Transfers out of Level 3 | — |
| | (174 | ) | | (34 | ) | | — |
| | (1 | ) | | (209 | ) | | — |
| | — |
| | — |
| Balance, September 30, 2012 | $ | 1,597 |
| | $ | 72 |
| | $ | 212 |
| | $ | 200 |
| | $ | 5 |
| | $ | 2,086 |
| | $ | (37 | ) | | $ | (1,142 | ) | | $ | (1,179 | ) | | | | | | | | | | | | | | | | | | | Changes in unrealized gains (losses) relating to assets and liabilities held at September 30, 2012 included in: | Net investment income | $ | (1 | ) | | $ | — |
| | $ | 1 |
| | $ | 1 |
| | $ | — |
| | $ | 1 |
| | $ | — |
| | $ | — |
| | $ | — |
| Interest credited to fixed accounts | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 1 |
| | — |
| | 1 |
| Benefits, claims, losses and settlement expenses | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 544 |
| | 544 |
|
(1) Included in net investment income in the Consolidated Statements of Operations. (2) Included in interest credited to fixed accounts in the Consolidated Statements of Operations. (3) Included in benefits, claims, losses and settlement expenses in the Consolidated Statements of Operations. |
Significant unobservable inputs used in the fair value measurements |
The following tables provide a summary of the significant unobservable inputs used in the fair value measurements developed by the Company or reasonably available to the Company of Level 3 assets and liabilities: | | | | | | | | | | | | | | | | | September 30, 2013 | | Fair Value | | Valuation Technique | | Unobservable Input | | Range | | Weighted Average | | (in millions) | | | | | | | | | | Corporate debt securities (private placements) | $ | 1,583 |
| | Discounted cash flow | | Yield/spread to U.S. Treasuries | | 1.0 | % | – | 5.5% | | 1.8% | IUL embedded derivatives | $ | 96 |
| | Discounted cash flow | | Nonperformance risk (3) | | 95 |
| | bps | | | GMWB and GMAB embedded derivatives | $ | (256 | ) | | Discounted cash flow | | Utilization of guaranteed withdrawals (1) | | 0.0 | % | – | 51.1% | | | | | | | | Surrender rate | | 0.1 | % | – | 57.9% | | | | |
| | | | Market volatility (2) | | 5.1 | % | – | 19.1% | | | | | | | | Nonperformance risk (3) | | 95 |
| | bps | | | | | | | | Elective contractholder strategy allocations (4) | | 0.0 | % | – | 50.0% | | |
| | | | | | | | | | | | | | | | | December 31, 2012 | | Fair Value | | Valuation Technique | | Unobservable Input | | Range | | Weighted Average | | (in millions) | | | | | | | | | | Corporate debt securities (private placements) | $ | 1,712 |
| | Discounted cash flow | | Yield/spread to U.S. Treasuries | | 1.1 | % | – | 8.5% | | 2.1% | IUL embedded derivatives | $ | 45 |
| | Discounted cash flow | | Nonperformance risk (3) | | 97 |
| | bps | | | GMWB and GMAB embedded derivatives | $ | 833 |
| | Discounted cash flow | | Utilization of guaranteed withdrawals (1) | | 0.0 | % | – | 56.4% | | | | | | | | Surrender rate | | 0.0 | % | – | 56.3% | | | | |
| | | | Market volatility (2) | | 5.6 | % | – | 21.2% | | | | | | | | Nonperformance risk (3) | | 97 |
| | bps | | | (1) The utilization of guaranteed withdrawals represents the percentage of policyholders that will begin withdrawing in any given year. (2) Market volatility is implied volatility of fund of funds and portfolio stabilizer funds. (3) The nonperformance risk is the spread added to the observable interest rates used in the valuation of the embedded derivatives. (4) The elective allocation represents the percentage of contractholders that are assumed to electively switch their investment allocation to a different allocation model. |
|
Schedule of carrying value and estimated fair value of financial instruments |
The following tables provide the carrying value and the estimated fair value of financial instruments that are not reported at fair value. All other financial instruments that are reported at fair value have been included above in the table with balances of assets and liabilities Ameriprise Financial measured at fair value on a recurring basis. | | | | | | | | | | | | | | | | | | | | | | September 30, 2013 | | Carrying Value | | Fair Value | | | Level 1 | | Level 2 | | Level 3 | | Total | | (in millions) | Financial Assets | |
| | |
| | |
| | |
| | |
| Mortgage loans, net | $ | 3,524 |
| | $ | — |
| | $ | — |
| | $ | 3,544 |
| | $ | 3,544 |
| Policy and certificate loans | 769 |
| | — |
| | 1 |
| | 756 |
| | 757 |
| Receivables | 1,092 |
| | 95 |
| | 989 |
| | 8 |
| | 1,092 |
| Restricted and segregated cash | 2,259 |
| | 2,259 |
| | — |
| | — |
| | 2,259 |
| Other investments and assets | 362 |
| | — |
| | 294 |
| | 69 |
| | 363 |
| | | | | | | | | | | Financial Liabilities | |
| | |
| | |
| | |
| | |
| Policyholder account balances, future policy benefits and claims | $ | 14,283 |
| | $ | — |
| | $ | — |
| | $ | 14,853 |
| | $ | 14,853 |
| Investment certificate reserves | 3,869 |
| | — |
| | — |
| | 3,878 |
| | 3,878 |
| Brokerage customer deposits | 2,868 |
| | 2,868 |
| | — |
| | — |
| | 2,868 |
| Separate account liabilities | 3,654 |
| | — |
| | 3,654 |
| | — |
| | 3,654 |
| Debt and other liabilities | 3,554 |
| | 131 |
| | 3,632 |
| | 82 |
| | 3,845 |
|
| | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | | Carrying Value | | Fair Value | | | Level 1 | | Level 2 | | Level 3 | | Total | | (in millions) | Financial Assets | |
| | |
| | |
| | |
| | |
| Mortgage loans, net | $ | 3,609 |
| | $ | — |
| | $ | — |
| | $ | 3,694 |
| | $ | 3,694 |
| Policy and certificate loans | 754 |
| | — |
| | 2 |
| | 725 |
| | 727 |
| Receivables | 1,067 |
| | 135 |
| | 926 |
| | 12 |
| | 1,073 |
| Restricted and segregated cash | 2,538 |
| | 2,538 |
| | — |
| | — |
| | 2,538 |
| Other investments and assets | 390 |
| | — |
| | 333 |
| | 60 |
| | 393 |
| | | | | | | | | | | Financial Liabilities | |
| | |
| | |
| | |
| | |
| Policyholder account balances, future policy benefits and claims | $ | 14,701 |
| | $ | — |
| | $ | — |
| | $ | 15,982 |
| | $ | 15,982 |
| Investment certificate reserves | 3,494 |
| | — |
| | — |
| | 3,494 |
| | 3,494 |
| Brokerage customer deposits | 3,024 |
| | 3,024 |
| | — |
| | — |
| | 3,024 |
| Separate account liabilities | 3,362 |
| | — |
| | 3,362 |
| | — |
| | 3,362 |
| Debt and other liabilities | 3,033 |
| | 145 |
| | 3,109 |
| | 142 |
| | 3,396 |
|
|