Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

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,
	2020		2019		2018
	(in millions)
Current income tax
Federal	$	527	$	531	$	275
State and local	63		80		45
Foreign	28		36		41
Total current income tax	618		647		361
Deferred income tax
Federal	(309)		(297)		20
State and local	(16)		(13)		2
Foreign	4		2		3
Total deferred income tax	(321)		(308)		25
Total income tax provision	$	297	$	339	$	386

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,
	2020		2019		2018
	(in millions)
United States	$	1,685	$	2,045	$	2,263
Foreign	146		187		221
Total	$	1,831	$	2,232	$	2,484

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% were as follows:

	Years Ended December 31,
	2020		2019		2018
Tax at U.S. statutory rate	21.0	%	21.0	%	21.0	%
Changes in taxes resulting from:
Low income housing tax credits	(4.3)		(3.6)		(3.2)
State taxes, net of federal benefit	2.1		2.4		1.5
Dividends received deduction	(2.1)		(1.8)		(1.6)
Incentive compensation	(1.4)		—		—
Foreign tax credits, net of addback	—		(2.2)		(1.1)
Other, net	0.9		(0.6)		(1.1)
Income tax provision	16.2	%	15.2	%	15.5	%

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,
	2020		2019
	(in millions)
Deferred income tax assets
Liabilities for policyholder account balances, future policy benefits and claims	$	1,618	$	945
Deferred compensation	493		406
Postretirement benefits	65		45
Right of use lease liability	60		59
Investment related	—		188
Other	51		47
Gross deferred income tax assets	2,287		1,690
Less: valuation allowance	15		19
Total deferred income tax assets	2,272		1,671
Deferred income tax liabilities
Deferred acquisition costs	435		456
Net unrealized gains on Available-for-Sale securities	295		186
Investment related	253		—
Intangible assets	124		115
Depreciation expense	99		94
Goodwill	70		64
Right of use lease asset	54		54
Deferred sales inducement costs	44		50
Other	18		6
Gross deferred income tax liabilities	1,392		1,025
Net deferred income tax assets	$	880	$	646

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:

	2020		2019		2018
	(in millions)
Balance at January 1	$	100	$	92	$	76
Additions based on tax positions related to the current year	11		15		22
Reductions based on tax positions related to the current year	(1)		—		—
Additions for tax positions of prior years	10		39		9
Reductions for tax positions of prior years	(4)		(17)		(3)
Reductions due to lapse of statute of limitations	(5)		—		—
Audit settlements	(1)		(29)		(12)
Balance at December 31	$	110	$	100	$	92