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Deferred Policy Acquisition Costs and Value of Business Acquired
 3 Months Ended
Mar. 31, 2018
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]  
Deferred Policy Acquisition Costs and Value of Business Acquired
Deferred Policy Acquisition Costs and Value of Business Acquired

The following tables present a rollforward of DAC and VOBA for the periods indicated:

 
2018
 
DAC
 
VOBA
 
Total
Balance as of January 1, 2018
$
385

 
$
367

 
$
752

Deferrals of commissions and expenses
15

 
2

 
17

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(18
)
 
(20
)
 
(38
)
Unlocking (1)
(29
)
 
(17
)
 
(46
)
Interest accrued
9

 
10

(2) 
19

Net amortization included in the Condensed Consolidated Statements of Operations
(38
)
 
(27
)
 
(65
)
Change due to unrealized capital gains/losses on available-for-sale securities
85

 
108

 
193

Balance as of March 31, 2018
$
447

 
$
450

 
$
897


 
2017
 
DAC
 
VOBA
 
Total
Balance as of January 1, 2017
$
476

 
$
537

 
$
1,013

Deferrals of commissions and expenses
21

 
1

 
22

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(17
)
 
(20
)
 
(37
)
Unlocking (1)
1

 
13

 
14

Interest accrued
9

 
12

(2) 
21

Net amortization included in the Condensed Consolidated Statements of Operations
(7
)
 
5

 
(2
)
Change due to unrealized capital gains/losses on available-for-sale securities
(14
)
 
(19
)
 
(33
)
Balance as of March 31, 2017
$
476

 
$
524

 
$
1,000


(1) DAC/VOBA unlocking includes the impacts of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking. Additionally, the 2018 amounts include unfavorable unlocking of DAC and VOBA of $43, associated with an update to assumptions related to customer consents of changes to guaranteed minimum interest rate provisions.
(2) Interest accrued at the following rates for VOBA: 5.5% to 7.0% during 2018 and 2017.