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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Net investment income $ 505 $ 413 $ 1,329 $ 1,235
Fee income 230 224 654 646
Premiums 13 5 25 24
Broker-dealer commission revenue 0 1 1 2
Net realized capital gains (losses):        
Total impairments (5) (3) (36) (24)
Other net realized capital gains (losses) (73) 7 (163) 2
Total net realized capital gains (losses) (78) 4 (199) (22)
Other revenue 2 4 1 13
Total revenues 672 651 1,811 1,898
Benefits and expenses:        
Interest credited and other benefits to contract owners/policyholders 386 262 808 786
Operating expenses 259 256 800 794
Broker-dealer commission expense (1) 2 0 3
Net amortization of Deferred policy acquisition costs and Value of business acquired 160 31 203 40
Interest Expense 0 1 0 1
Total benefits and expenses 804 552 1,811 1,624
Income (loss) before income taxes (132) 99 0 274
Income tax expense (benefit) (38) 2 (33) 17
Net income (loss) $ (94) $ 97 $ 33 $ 257