
	Year Ended December 31, 2020
	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)	$	907	$	(192)	$	715
Reclassification of net (gains) losses on securities included in net income (2)	(11)		2		(9)
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(379)		80		(299)
Net unrealized gains (losses) on securities	517		(110)		407
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	(2)		1		(1)
Net unrealized gains (losses) on derivatives	(2)		1		(1)
Defined benefit plans:
Prior service credit	(2)		—		(2)
Net gain (loss) arising during the period	(82)		18		(64)
Defined benefit plans	(84)		18		(66)
Foreign currency translation	32		(5)		27

Total other comprehensive income (loss)	$	463	$	(96)	$	367


	Year Ended December 31, 2019
	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)	$	1,404	$	(309)	$	1,095
Reclassification of net (gains) losses on securities included in net income (2)	6		(1)		5
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(688)		144		(544)
Net unrealized gains (losses) on securities	722		(166)		556
Net unrealized gains (losses) on derivatives:
Reclassification of net (gains) losses on derivatives included in net income (3)	(3)		1		(2)
Net unrealized gains (losses) on derivatives	(3)		1		(2)
Defined benefit plans:
Prior service credit	14		(3)		11
Net gain (loss) arising during the period	(36)		7		(29)
Defined benefit plans	(22)		4		(18)
Foreign currency translation	18		(1)		17

Total other comprehensive income (loss)	$	715	$	(162)	$	553


	Year Ended December 31, 2018
	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)	$	(1,039)	$	237	$	(802)
Reclassification of net (gains) losses on securities included in net income (2)	(9)		2		(7)
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	435		(91)		344
Net unrealized gains (losses) on securities	(613)		148		(465)



Defined benefit plans:

Net gain (loss) arising during the period	(30)		7		(23)
Defined benefit plans	(30)		7		(23)
Foreign currency translation	(32)		1		(31)

Total other comprehensive income (loss)	$	(675)	$	156	$	(519)

(3) Includes a $1 million, $2 million and $2 million pretax gain reclassified to interest and debt expenses and nil, nil and $2 million pretax loss reclassified to net investment income for the years ended December 31, 2020, 2019 and 2018, respectively.

Other comprehensive income (loss) related to net unrealized gains (losses) on securities includes three components: (i) unrealized gains (losses) that arose from changes in the market value of securities that were held during the period; (ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of Available-for-Sale securities and due to the reclassification of noncredit OTTI losses to credit losses; and (iii) other adjustments primarily consisting of changes in insurance and annuity asset and liability balances, such as DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables, to reflect the expected impact on their carrying values had the unrealized gains (losses) been realized as of the respective balance sheet dates.


	Net Unrealized Gains (Losses) on Securities			Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance, January 1, 2018	$	486	(1)	$	8	$	(97)	$	(167)	$	(1)	$	229
Cumulative effect of adoption of equity securities guidance	(1)			—		—		—		—		(1)
OCI before reclassifications	(458)			—		(36)		(31)		—		(525)
Amounts reclassified from AOCI	(7)			—		13		—		—		6
Total OCI	(465)			—		(23)		(31)		—		(519)
Balance, December 31, 2018	20		(1)	8		(120)		(198)		(1)		(291)

OCI before reclassifications	551			—		(28)		17		—		540
Amounts reclassified from AOCI	5			(2)		10		—		—		13
Total OCI	556			(2)		(18)		17		—		553
Balance, December 31, 2019	576		(1)	6		(138)		(181)		(1)		262

OCI before reclassifications	416			—		(66)		27		—		377
Amounts reclassified from AOCI	(9)			(1)		—		—		—		(10)
Total OCI	407			(1)		(66)		27		—		367
Balance, December 31, 2020	$	983	(1)	$	5	$	(204)	$	(154)	$	(1)	$	629

(1) Includes nil, $1 million and $1 million of noncredit related impairments on securities and net unrealized gains (losses) on previously impaired securities as of December 31, 2020, 2019 and 2018, respectively.

For the years ended December 31, 2020, 2019 and 2018, the Company repurchased a total of 8.4 million shares, 13.4 million shares and 11.3 million shares, respectively, of its common stock for an aggregate cost of $1.3 billion, $1.9 billion and $1.6 billion, respectively. In April 2017, the Company's Board of Directors authorized an expenditure of up to $2.5 billion for the repurchase of shares of the Company’s common stock through June 30, 2019, which was exhausted in the second quarter of 2019. In February 2019, the Company’s Board of Directors authorized an additional repurchase up to $2.5 billion of the Company’s common stock through

March 31, 2021. In August 2020, the Company’s Board of Directors authorized an additional expenditure of up to $2.5 billion for the repurchase of shares of the Company’s common stock through September 30, 2022. As of December 31, 2020, the Company had $2.3 billion remaining under these share repurchase authorizations.

The Company may also reacquire shares of its common stock under its share-based compensation plans related to restricted stock awards and certain option exercises. The holders of restricted shares may elect to surrender a portion of their shares on the vesting date to cover their income tax obligation. These vested restricted shares are reacquired by the Company and the Company’s payment of the holders’ income tax obligations are recorded as a treasury share purchase.

For the years ended December 31, 2020, 2019 and 2018, the Company reacquired 0.3 million shares, 0.3 million shares and 0.3 million shares, respectively, of its common stock through the surrender of shares upon vesting and paid in the aggregate $52 million, $34 million and $44 million, respectively, related to the holders’ income tax obligations on the vesting date. Option holders may elect to net settle their vested awards resulting in the surrender of the number of shares required to cover the strike price and tax obligation of the options exercised. These shares are reacquired by the Company and recorded as treasury shares. For the years ended December 31, 2020, 2019 and 2018, the Company reacquired 1.5 million shares, 0.7 million shares and 0.5 million shares, respectively, of its common stock through the net settlement of options for an aggregate value of $263 million, $106 million and $85 million, respectively.