Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of components of OCI [Table Text Block]

The following tables provide the amounts related to each component of OCI:


	Three Months Ended September 30,
	2020						2019
	Pretax		Income Tax Benefit (Expense)		Net of Tax		Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	225	$	(53)	$	172	$	294	$	(58)	$	236
Reclassification of net (gains) losses on securities included in net income (2)	(4)		1		(3)		10		(2)		8
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(94)		20		(74)		(195)		41		(154)
Net unrealized gains (losses) on securities	127		(32)		95		109		(19)		90
Foreign currency translation	27		—		27		(23)		1		(22)
Total other comprehensive income (loss)	$	154	$	(32)	$	122	$	86	$	(18)	$	68


	Nine Months Ended September 30,
	2020						2019
	Pretax		Income Tax Benefit (Expense)		Net of Tax		Pretax		Income Tax Benefit (Expense)		Net of Tax
	(in millions)
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period (1)	$	562	$	(118)	$	444	$	1,463	$	(259)	$	1,204
Reclassification of net (gains) losses on securities included in net income (2)	—		—		—		5		(1)		4
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(223)		47		(176)		(694)		146		(548)
Net unrealized gains (losses) on securities	339		(71)		268		774		(114)		660
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	—		—		—		(1)		—		(1)
Net unrealized gains (losses) on derivatives	—		—		—		(1)		—		(1)
Foreign currency translation	(15)		1		(14)		(32)		1		(31)
Total other comprehensive income (loss)	$	324	$	(70)	$	254	$	741	$	(113)	$	628

(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period.

(2) Reclassification amounts are recorded in net investment income.

(3) Includes nil and $1 million pretax gain reclassified to interest and debt expense for the nine months ended September 30, 2020 and 2019, respectively.

Schedule of amounts reclassified from AOCI [Table Text Block]

The following tables present the changes in the balances of each component of AOCI, net of tax:


	Net Unrealized Gains (Losses) on Securities			Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance, July 1, 2020	$	749		$	6	$	(138)	$	(222)	$	(1)	$	394

OCI before reclassifications	98			—		—		27		—		125
Amounts reclassified from AOCI	(3)			—		—		—		—		(3)
Total OCI	95			—		—		27		—		122
Balance, September 30, 2020	$	844	(1)	$	6	$	(138)	$	(195)	$	(1)	$	516

Balance, January 1, 2020	$	576		$	6	$	(138)	$	(181)	$	(1)	$	262

OCI before reclassifications	268			—		—		(14)		—		254

Total OCI	268			—		—		(14)		—		254
Balance, September 30, 2020	$	844	(1)	$	6	$	(138)	$	(195)	$	(1)	$	516


	Net Unrealized Gains (Losses) on Securities			Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance, July 1, 2019	$	590		$	7	$	(120)	$	(207)	$	(1)	$	269

OCI before reclassifications	82			—		—		(22)		—		60
Amounts reclassified from AOCI	8			—		—		—		—		8
Total OCI	90			—		—		(22)		—		68
Balance, September 30, 2019	$	680	(1)	$	7	$	(120)	$	(229)	$	(1)	$	337

Balance, January 1, 2019	$	20		$	8	$	(120)	$	(198)	$	(1)	$	(291)

OCI before reclassifications	656			—		—		(31)		—		625
Amounts reclassified from AOCI	4			(1)		—		—		—		3
Total OCI	660			(1)		—		(31)		—		628
Balance, September 30, 2019	$	680	(1)	$	7	$	(120)	$	(229)	$	(1)	$	337

(1) Includes nil and $(1) million of noncredit related impairments on securities and net unrealized gains (losses) on previously impaired securities as of September 30, 2020 and September 30, 2019, respectively.