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Financing Receivables (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Rollforward of the allowance for loan losses
 Commercial LoansConsumer LoansTotal
(in millions)
Balance, January 1, 2021
$66 $2 $68 
Provisions(15)1 (14)
Charge-offs(3)— (3)
Other2 — 2 
Balance, June 30, 2021
$50 $3 $53 
 Commercial LoansConsumer LoansTotal
(in millions)
Balance, December 31, 2019 (1)
$51 $— $51 
Cumulative effect of adoption of current expected credit losses guidance2 3 5 
Balance, January 1, 2020
53 3 56 
Provisions13 3 16 
Charge-offs(1)(2)(3)
Balance, June 30, 2020
$65 $4 $69 
(1) Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset.
Schedule of commercial mortgage loans by year of origination and loan-to-value ratio
June 30, 2021
Loan-to-Value Ratio
2021
2020201920182017PriorTotal
(in millions)
> 100%$— $— $10 $11 $— $12 $33 
80% - 100%6 — 4 3 — 21 34 
60% - 80%80 67 64 28 62 131 432 
40% - 60%11 33 76 64 51 345 580 
< 40%5 1 42 3 52 461 564 
Total$102 $101 $196 $109 $165 $970 $1,643 
December 31, 2020
Loan-to-Value Ratio20202019201820172016PriorTotal
(in millions)
> 100%$— $— $2 $— $— $10 $12 
80% - 100%15 16 12 3 7 15 68 
60% - 80%89 166 27 32 46 144 504 
40% - 60%23 57 74 155 113 551 973 
< 40%7 23 80 99 64 895 1,168 
Total$134 $262 $195 $289 $230 $1,615 $2,725 
Schedule of commercial mortgage loans by geographic region
 LoansPercentage
June 30, 2021
December 31, 2020
June 30, 2021
December 31, 2020
(in millions)  
East North Central$178 $259 11 %10 %
East South Central66 115 4 4 
Middle Atlantic93 178 6 7 
Mountain123 247 7 9 
New England24 54 1 2 
Pacific571 825 35 30 
South Atlantic379 681 23 25 
West North Central124 198 8 7 
West South Central85 168 5 6 
 1,643 2,725 100 %100 %
Less: allowance for credit losses14 29   
Total commercial mortgage loans held for investment1,629 2,696   
Commercial mortgage loans held for sale (1)
1,023 — 
Total commercial mortgage loans$2,652 $2,696 
Schedule of commercial mortgage loans by property type
 LoansPercentage
June 30, 2021
December 31, 2020
June 30, 2021
December 31, 2020
(in millions)  
Apartments$476 $713 29 %26 %
Hotel15 50 1 2 
Industrial268 427 17 16 
Mixed use54 87 3 3 
Office217 372 13 14 
Retail509 881 31 32 
Other104 195 6 7 
 1,643 2,725 100 %100 %
Less: allowance for credit losses14 29   
Total commercial mortgage loans held for investment
1,629 2,696   
Commercial mortgage loans held for sale (1)
1,023 — 
Total commercial mortgage loans$2,652 $2,696 
(1) See Note 1 for more information on the reinsurance transaction.
Schedule of syndicated loans by origination year and internal risk rating
June 30, 2021
Internal Risk Rating20212020201920182017PriorTotal
(in millions)
Risk 5$— $— $— $— $— $— $— 
Risk 4— — 1 — 1 2 4 
Risk 3— — 3 6 5 8 22 
Risk 215 9 11 12 15 11 73 
Risk 110 4 10 13 19 19 75 
Total$25 $13 $25 $31 $40 $40 $174 
December 31, 2020
Internal Risk Rating20202019201820172016PriorTotal
(in millions)
Risk 5$— $— $— $— $— $3 $3 
Risk 4— — 4 9 — 10 23 
Risk 3— 9 8 25 13 25 80 
Risk 230 57 62 69 14 41 273 
Risk 117 32 47 58 22 40 216 
Total$47 $98 $121 $161 $49 $119 $595 
Schedule of advisor loans by origination year and termination status
June 30, 2021
Termination Status20212020201920182017PriorTotal
(in millions)
Active$67 $160 $128 $95 $122 $141 $713 
Terminated1 — — — 1 8 10 
Total$68 $160 $128 $95 $123 $149 $723 
December 31, 2020
Termination Status20202019201820172016PriorTotal
(in millions)
Active$171 $137 $101 $127 $83 $86 $705 
Terminated— — — 1 1 8 10 
Total$171 $137 $101 $128 $84 $94 $715 
Amortized cost basis of credit card receivables by FICO Score
June 30, 2021
December 31, 2020
(in millions)
> 800$28 $28 
750 - 79924 23 
700 - 74924 25 
650 - 69914 15 
< 6504 5 
Total$94 $96