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Equity
 12 Months Ended
Dec. 31, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Comprehensive Income EQUITY
Common stock
The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:
 
 
Issued
 
Held In Treasury
 
Outstanding
Balance, December 31, 2016
 
79,137,758

 
14,835,256

 
64,302,502

Common Stock acquired
 
—

 
208,680

 
(208,680
)
Stock-based compensation (1)
 
—

 
(358,273
)
 
358,273

Balance, December 31, 2017
 
79,137,758

 
14,685,663

 
64,452,095

Common Stock acquired
 
—

 
1,932,055

 
(1,932,055
)
Stock-based compensation (1)
 
—

 
(294,328
)
 
294,328

Balance, December 31, 2018
 
79,137,758

 
16,323,390

 
62,814,368

Common Stock acquired
 
—

 
546,614

 
(546,614
)
Stock-based compensation (1)
 
—

 
(388,348
)
 
388,348

Balance, December 31, 2019
 
79,137,758

 
16,481,656

 
62,656,102

(1)
Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.
Common stock held in treasury
Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of “Common stock held in treasury” are credited to “Additional paid-in capital.” Losses resulting from the reissuance of “Common stock held in treasury” are charged first to “Additional paid-in capital” to the extent the Company has previously recorded gains on treasury share transactions, then to “Retained earnings.”
On January 24, 2019, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. The authorization was effective immediately and does not have an expiration date. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2017. The following table summarizes the Company’s current share repurchase program activity for the year ended 2019 (dollar amounts in millions, except for the number of shares and per share amounts):
Year of Repurchase
 
Shares Repurchased
 
Amount Paid
 
Average Per Share
2019
 
546,614

 
$
80

 
$
146.00


The timing and amount of share repurchases are determined by management based upon market conditions and other considerations. Factors could affecting the timing and amount of any future repurchases under the share repurchase authorization, include increased capital needs of the Company due to changes in regulatory capital requirements, opportunities for growth and acquisitions, and the effect of adverse market conditions on the segments.
Accumulated other comprehensive income (loss)
The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017 (dollars in millions):
For the year ended December 31, 2019:
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
113

 
$
(10
)
 
$
103

Foreign currency swap
 
(33
)
 
7

 
(26
)
Net foreign currency translation adjustments
 
80

 
(3
)
 
77

Unrealized gains on investments:(1)
 
 
 
 
 
 
Unrealized net holding gains arising during the year
 
3,208

 
(698
)
 
2,510

Less: Reclassification adjustment for net gains realized in net income
 
84

 
(17
)
 
67

Net unrealized gains
 
3,124

 
(681
)
 
2,443

Change in unrealized OTTI on fixed maturity securities
 
—

 
—

 
—

Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
(1
)
 
—

 
(1
)
Net gain (loss) arising during the period
 
(23
)
 
5

 
(18
)
Unrealized pension and postretirement benefits, net
 
(24
)
 
5

 
(19
)
Other comprehensive income (loss)
 
$
3,180

 
$
(679
)
 
$
2,501

For the year ended December 31, 2018:
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
(148
)
 
$
(1
)
 
$
(149
)
Foreign currency swap
 
87

 
(18
)
 
69

Net foreign currency translation adjustments
 
(61
)
 
(19
)
 
(80
)
Unrealized gains on investments:(1)
 
 
 
 
 
 
Unrealized net holding gains arising during the year
 
(1,834
)
 
394

 
(1,440
)
Less: Reclassification adjustment for net gains realized in net income
 
(122
)
 
26

 
(96
)
Net unrealized gains
 
(1,712
)
 
368

 
(1,344
)
Change in unrealized OTTI on fixed maturity securities
 
—

 
—

 
—

Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
(1
)
 
—

 
(1
)
Net gain arising during the period
 
1

 
—

 
1

Unrealized pension and postretirement benefits, net
 
—

 
—

 
—

Other comprehensive income (loss)
 
$
(1,773
)
 
$
349

 
$
(1,424
)
For the year ended December 31, 2017:
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
75

 
$
25

 
$
100

Foreign currency swap
 
(48
)
 
17

 
(31
)
Net foreign currency translation adjustments
 
27

 
42

 
69

Unrealized gains on investments:(1)
 
 
 
 
 
 
Unrealized net holding gains arising during the year
 
1,030

 
(314
)
 
716

Less: Reclassification adjustment for net gains realized in net income
 
25

 
(7
)
 
18

Net unrealized gains
 
1,005

 
(307
)
 
698

Change in unrealized OTTI on fixed maturity securities
 
—

 
—

 
—

Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
12

 
(4
)
 
8

Net gain arising during the period
 
(11
)
 
4

 
(7
)
Unrealized pension and postretirement benefits, net
 
1

 
—

 
1

Other comprehensive income (loss)
 
$
1,033

 
$
(265
)
 
$
768

(1)
Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.
A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):
For the years ended December 31,
 
2019
 
2018
 
2017
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 
 
Fixed maturity securities available-for-sale
 
$
3,258

 
$
(1,759
)
 
$
988

Other investments(1)
 
(37
)
 
20

 
25

Effect on unrealized appreciation on:
 
 
 
 
 
 
Deferred policy acquisition costs
 
(98
)
 
27

 
(8
)
Net unrealized appreciation (depreciation)
 
$
3,123

 
$
(1,712
)
 
$
1,005

(1)
Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.
The balance of and changes in each component of AOCI were as follows (dollars in millions):
 
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized Appreciation (Depreciation) of Investments (1)
 
Pension and
Postretirement
Benefits
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance, December 31, 2016
 
$
(172
)
 
$
1,355

 
$
(44
)
 
$
1,139

OCI before reclassifications
 
27

 
1,039

 
(4
)
 
1,062

Amounts reclassified from AOCI
 
—

 
(34
)
 
5

 
(29
)
Deferred income tax benefit (expense)
 
42

 
(307
)
 
—

 
(265
)
Adoption of new accounting standard
 
17

 
148

 
(8
)
 
157

Balance, December 31, 2017
 
(86
)
 
2,201


(51
)
 
2,064

OCI before reclassifications
 
(60
)
 
(1,861
)
 
(5
)
 
(1,926
)
Amounts reclassified from AOCI
 
—

 
148

 
5

 
153

Deferred income tax benefit (expense)
 
(19
)
 
368

 
—

 
349

Adoption of new accounting standard
 
(4
)
 
—

 
—

 
(4
)
Balance, December 31, 2018
 
(169
)
 
856

 
(51
)
 
636

OCI before reclassifications
 
80

 
3,306

 
(28
)
 
3,358

Amounts reclassified from AOCI
 
—

 
(182
)
 
4

 
(178
)
Deferred income tax benefit (expense)
 
(3
)
 
(681
)
 
5

 
(679
)
Balance, December 31, 2019
 
$
(92
)
 
$
3,299

 
$
(70
)
 
$
3,137

(1)
Includes cash flow hedges of $(26), $9 and $3 as of December 31, 2019, 2018 and 2017, respectively. See Note 5 for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2019 and 2018 (dollars in millions):
 
 
Amount Reclassified from AOCI
 
 
Details about AOCI Components
 
2019
 
2018
 
Affected Line Item in 
Statement of Income
Net unrealized investment gains (losses):
 
 
 
 
 
 
Net unrealized gains and losses on available-for-sale securities
 
$
84

 
$
(122
)
 
Investment related gains (losses), net
Cash flow hedges - Interest rate
 
1

 
—

 
(1)
Cash flow hedges - Currency/Interest rate
 
—

 
—

 
(1)
Cash flow hedges - Forward bond purchase commitments
 
—

 
—

 
(1)
Deferred policy acquisition costs attributed to unrealized gains and losses
 
97

 
(27
)
 
(2)
Total
 
182

 
(149
)
 
 
Provision for income taxes
 
(38
)
 
31

 
 
Net unrealized gains (losses), net of tax
 
$
144

 
$
(118
)
 
 
 
 
 
 
 
 
 
Amortization of defined benefit plan items:
 
 
 
 
 
 
Prior service cost (credit)
 
$
1

 
$
1

 
(3)
Actuarial gains/(losses)
 
(5
)
 
(6
)
 
(3)
Total
 
(4
)
 
(5
)
 
 
Provision for income taxes
 
1

 
1

 
 
Amortization of defined benefit plans, net of tax
 
$
(3
)
 
$
(4
)
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
141

 
$
(122
)
 
 
(1)
See Note 5 for information on cash flow hedges.
(2)
See Note 8 for information on deferred policy acquisition costs.
(3)
See Note 10 for information on employee benefit plans.