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SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements of Operations [Table Text Block]
Schedule I — Condensed Financial Information of Registrant
Condensed Statements of Operations
(Parent Company Only)
 
Years Ended December 31,
2018
 
2017 (1)
 
2016 (1)
(in millions)
Revenues
 
 
 
 
 
Management and financial advice fees
$
(1
)
 
$
(1
)
 
$
(1
)
Net investment income
34

 
11

 
14

Other revenues
4

 
8

 
5

Total revenues
37

 
18

 
18

Banking and deposit interest expense
7

 
5

 
1

Total net revenues
30

 
13

 
17

 
 
 
 
 
 
Expenses
 
 
 
 
 
Benefits, claims, losses and settlement expenses
4

 
76

 
41

Distribution expenses
4

 
18

 
—

Interest and debt expense
120

 
116

 
113

General and administrative expense
210

 
246

 
189

Total expenses
338

 
456

 
343

Pretax loss before equity in earnings of subsidiaries
(308
)
 
(443
)
 
(326
)
Income tax benefit
(73
)
 
(47
)
 
(146
)
Loss before equity in earnings of subsidiaries
(235
)
 
(396
)
 
(180
)
Equity in earnings of subsidiaries
2,333

 
1,876

 
1,493

Net income
2,098

 
1,480

 
1,313

Other comprehensive income (loss), net of tax
(519
)
 
29

 
(59
)
Total comprehensive income
$
1,579

 
$
1,509

 
$
1,254


(1) Certain prior period amounts have been restated. See Note 1 in the Consolidated Financial Statements for more information.
See Notes to Condensed Financial Information of Registrant.
Condensed Balance Sheets [Table Text Block]
Schedule I — Condensed Financial Information of Registrant
Condensed Balance Sheets
(Parent Company Only)
 
December 31,
2018
 
2017 (1)
(in millions, except share amounts)
Assets
 
 
 
Cash and cash equivalents
$
476

 
$
494

Investments
467

 
341

Loans to subsidiaries
372

 
227

Due from subsidiaries
288

 
382

Receivables
5

 
5

Land, buildings, equipment, and software, net of accumulated depreciation of $1,168 and $1,111, respectively
237

 
236

Investments in subsidiaries
7,231

 
8,066

Other assets
1,209

 
1,150

Total assets
$
10,285

 
$
10,901

 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
Liabilities:
 
 
 
Accounts payable and accrued expenses
$
636

 
$
640

Due to subsidiaries
146

 
74

Borrowings from subsidiaries
346

 
363

Long-term debt
2,867

 
2,891

Other liabilities
702

 
938

Total liabilities
4,697

 
4,906

 
 
 
 
Shareholders’ Equity:
 
 
 
Common shares ($.01 par value; shares authorized, 1,250,000,000; shares issued, 328,537,214 and 327,506,935, respectively)
3

 
3

Additional paid-in capital
8,260

 
8,085

Retained earnings
12,909

 
11,326

Treasury shares, at cost (192,206,467 and 180,872,271 shares, respectively)
(15,293
)
 
(13,648
)
Accumulated other comprehensive income, net of tax, including amounts applicable to equity investments in subsidiaries
(291
)
 
229

Total shareholders’ equity
5,588

 
5,995

Total liabilities and equity
$
10,285

 
$
10,901


(1) Certain prior period amounts have been restated. See Note 1 in the Consolidated Financial Statements for more information.
See Notes to Condensed Financial Information of Registrant.
Condensed Statements of Cash Flows [Table Text Block]
Schedule I — Condensed Financial Information of Registrant
Condensed Statements of Cash Flows
(Parent Company Only)
 
Years Ended December 31,
2018
 
2017 (1)
 
2016 (1)
(in millions)
Cash Flows from Operating Activities
 
 
 
 
 
Net income
$
2,098

 
$
1,480

 
$
1,313

Equity in earnings of subsidiaries
(2,333
)
 
(1,876
)
 
(1,493
)
Dividends received from subsidiaries
2,093

 
1,589

 
1,465

Other operating activities, primarily with subsidiaries
57

 
712

 
529

Net cash provided by operating activities
1,915

 
1,905

 
1,814

 
 
 
 
 
 
Cash Flows from Investing Activities
 
 
 
 
 
Available-for-Sale securities:
 
 
 
 
 
Proceeds from sales
—

 
—

 
55

Maturities, sinking fund payments and calls
94

 
44

 
277

Purchases
(222
)
 
(77
)
 
(129
)
Proceeds from sale of other investments
—

 
3

 
—

Purchase of land, buildings, equipment and software
(62
)
 
(69
)
 
(49
)
Contributions to subsidiaries
(73
)
 
(79
)
 
(197
)
Return of capital from subsidiaries
454

 
47

 
187

Repayment of loans to subsidiaries
1,623

 
1,277

 
1,910

Issuance of loans to subsidiaries
(1,768
)
 
(1,337
)
 
(1,910
)
Other, net
2

 
(91
)
 
59

Net cash provided by investing activities
48

 
(282
)
 
203

 
 
 
 
 
 
Cash Flows from Financing Activities
 
 
 
 
 
Dividends paid to shareholders
(506
)
 
(491
)
 
(479
)
Repurchase of common shares
(1,630
)
 
(1,485
)
 
(1,707
)
Cash paid for purchased options with deferred premiums
(20
)
 
(19
)
 
(22
)
Issuance of long-term debt, net of issuance costs
—

 
—

 
496

Repayments of long-term debt
(13
)
 
(11
)
 
(257
)
Borrowings from subsidiaries
472

 
124

 
—

Repayments of borrowings from subsidiaries
(273
)
 
(15
)
 
—

Exercise of stock options
2

 
15

 
9

Other, net
(13
)
 
(1
)
 
36

Net cash used in financing activities
(1,981
)
 
(1,883
)
 
(1,924
)
Net increase (decrease) in cash and cash equivalents
(18
)
 
(260
)
 
93

Cash and cash equivalents at beginning of year
494

 
754

 
661

Cash and cash equivalents at end of year
$
476

 
$
494

 
$
754

Supplemental Disclosures:
 
 
 
 
 
Interest paid on debt
$
126

 
$
128

 
$
121

Income taxes paid (received), net
(27
)
 
(368
)
 
(112
)
Non-cash dividends from subsidiaries
195

 
109

 
11


(1) Certain prior period amounts have been restated. See Note 1 for more information.
See Notes to Condensed Financial Information of Registrant.