Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of components of income tax provision (benefit) [Table Text Block]

The components of income tax provision attributable to continuing operations were as follows:



	Years Ended December 31,
	2019			2018		2017
	(in millions)
Current income tax
Federal	$	531		$	275	$	468
State and local	80			45		58
Foreign	36			41		52
Total current income tax	647			361		578

Deferred income tax
Federal	(297		)	20		169
State and local	(13		)	2		(5		)
Foreign	2			3		(8		)
Total deferred income tax	(308		)	25		156
Total income tax provision	$	339		$	386	$	734

Schedule of geographic sources of pretax income [Table Text Block]

The geographic sources of pretax income from continuing operations were as follows:



	Years Ended December 31,
	2019		2018		2017
	(in millions)
United States	$	2,045	$	2,263	$	1,988
Foreign	187		221		226
Total	$	2,232	$	2,484	$	2,214

Reconciliation of the income tax provision [Table Text Block]

The principal reasons that the aggregate income tax provision attributable to continuing operations is different from that computed by using the U.S. statutory rates of 21% for 2019 and 2018 and 35% for 2017 were as follows:



	Years Ended December 31,
	2019		2018		2017
Tax at U.S. statutory rate	21.0	%	21.0	%	35.0	%
Changes in taxes resulting from:
Low income housing tax credits	(3.6	)	(3.2	)	(3.4	)
State taxes, net of federal benefit	2.4		1.5		—
Foreign tax credits, net of addback	(2.2	)	(1.1	)	—
Dividends received deduction	(1.8	)	(1.6	)	(5.8	)
Impact of the Tax Act	—		—		13.0
Incentive compensation	—		—		(3.0	)
Foreign taxes	—		—		(2.0	)
Other, net	(0.6	)	(1.1	)	(0.7	)
Income tax provision	15.2	%	15.5	%	33.1	%

Schedule of significant components of deferred income tax assets and liabilities [Table Text Block]

The significant components of the Company’s deferred income tax assets and liabilities, which are included net within other assets or other liabilities on the Consolidated Balance Sheets, were as follows:



	December 31,
	2019		2018
	(in millions)
Deferred income tax assets
Liabilities for policyholder account balances, future policy benefits and claims	$	945	$	725
Deferred compensation	406		329
Investment related	188		145
Right of use lease liability	59		—
Postretirement benefits	45		44
Other	47		57
Gross deferred income tax assets	1,690		1,300
Less: valuation allowance	19		20
Total deferred income tax assets	1,671		1,280

Deferred income tax liabilities
Deferred acquisition costs	456		437
Net unrealized gains on Available-for-Sale securities	186		30
Intangible assets	115		104
Depreciation expense	94		101
Goodwill	64		60
Right of use lease asset	54		—
Deferred sales inducement costs	50		53
Other	6		6
Gross deferred income tax liabilities	1,025		791
Net deferred income tax assets	$	646	$	489

Reconciliation of gross unrecognized tax benefits (expense) [Table Text Block]

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows:



	2019			2018			2017
	(in millions)
Balance at January 1	$	92		$	76		$	115
Additions based on tax positions related to the current year	15			22			16
Additions for tax positions of prior years	39			9			3
Reductions for tax positions of prior years	(17		)	(3		)	(57		)
Audit settlements	(29		)	(12		)	(1		)
Balance at December 31	$	100		$	92		$	76