Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of amounts related to each component of OCI

	Three Months Ended June 30,
	2021						2020
	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)	$	336	$	(65)	$	271	$	1,532	$	(329)	$	1,203
Reclassification of net (gains) losses on securities included in net income (2)	(1)		—		(1)		(4)		1		(3)
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	(163)		34		(129)		(637)		134		(503)
Net unrealized gains (losses) on securities	172		(31)		141		891		(194)		697
Foreign currency translation	2		—		2		(8)		—		(8)
Total other comprehensive income (loss)	$	174	$	(31)	$	143	$	883	$	(194)	$	689

	Six Months Ended June 30,
	2021						2020
	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)	$	(354)	$	87	$	(267)	$	337	$	(65)	$	272
Reclassification of net (gains) losses on securities included in net income (2)	(51)		11		(40)		4		(1)		3
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables	137		(29)		108		(129)		27		(102)
Net unrealized gains (losses) on securities	(268)		69		(199)		212		(39)		173
Defined benefit plans	37		(8)		29		—		—		—
Foreign currency translation	1		—		1		(42)		1		(41)
Total other comprehensive income (loss)	$	(230)	$	61	$	(169)	$	170	$	(38)	$	132

(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.

Schedule of changes in the balances of each component of AOCI

	Net Unrealized Gains (Losses) on Securities		Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance, April 1, 2021	$	643	$	5	$	(175)	$	(155)	$	(1)	$	317
OCI before reclassifications	142		—		—		2		—		144
Amounts reclassified from AOCI	(1)		—		—		—		—		(1)
Total OCI	141		—		—		2		—		143
Balance, June 30, 2021	$	784	$	5	$	(175)	$	(153)	$	(1)	$	460
Balance, January 1, 2021	$	983	$	5	$	(204)	$	(154)	$	(1)	$	629
OCI before reclassifications	(159)		—		29		1		—		(129)
Amounts reclassified from AOCI	(40)		—		—		—		—		(40)
Total OCI	(199)		—		29		1		—		(169)
Balance, June 30, 2021	$	784	$	5	$	(175)	$	(153)	$	(1)	$	460

	Net Unrealized Gains (Losses) on Securities		Net Unrealized Gains (Losses) on Derivatives		Defined Benefit Plans		Foreign Currency Translation		Other		Total
	(in millions)
Balance, April 1, 2020	$	52	$	6	$	(138)	$	(214)	$	(1)	$	(295)
OCI before reclassifications	700		—		—		(8)		—		692
Amounts reclassified from AOCI	(3)		—		—		—		—		(3)
Total OCI	697		—		—		(8)		—		689
Balance, June 30, 2020	$	749	$	6	$	(138)	$	(222)	$	(1)	$	394
Balance, January 1, 2020	$	576	$	6	$	(138)	$	(181)	$	(1)	$	262
OCI before reclassifications	170		—		—		(41)		—		129
Amounts reclassified from AOCI	3		—		—		—		—		3
Total OCI	173		—		—		(41)		—		132
Balance, June 30, 2020	$	749	$	6	$	(138)	$	(222)	$	(1)	$	394