Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Summary of Operating Loss Carryforwards [Table Text Block]

Components of the net operating loss carryforwards as of December 31, 2019
($ in millions)	20-Year Carryforward Expires in 2025-2037		Indefinite Carryforward Period		Total
US Federal	$	72	$	21	$	93
Foreign	—		29		29
Total	$	72	$	50	$	122

Reconciliation of the change in the amount of unrecognized tax benefits

Reconciliation of the change in the amount of unrecognized tax benefits
	For the years ended December 31,
($ in millions)	2019		2018		2017
Balance – beginning of year	$	70	$	55	$	10
Increase for tax positions taken in a prior year	—		3		34
Increase for tax positions taken in the current year	—		12		11
Balance – end of year	$	70	$	70	$	55

Components of the deferred income tax assets and liabilities

Components of the deferred income tax assets and liabilities
	As of December 31,
($ in millions)	2019			2018
Deferred tax assets
Unearned premium reserves	$	642		$	594
Pension	197			192
Accrued compensation	147			145
Discount on loss reserves	78			67
Other postretirement benefits	49			45
Net operating loss carryover	26			50
Other assets	54			57
Total deferred tax assets	1,193			1,150
Deferred tax liabilities
DAC	(847		)	(854		)
Unrealized net capital gains	(507		)	(2		)
Investments	(567		)	(278		)
Life and annuity reserves	(222		)	(194		)
Intangible assets	(98		)	(145		)
Other liabilities	(106		)	(102		)
Total deferred tax liabilities	(2,347		)	(1,575		)
Net deferred tax liability	$	(1,154	)	$	(425	)

Components of income tax expense

Components of income tax expense
	For the years ended December 31,
($ in millions)	2019		2018			2017
Current	$	991	$	704		$	1,018
Deferred	251		(236		)	(23		)
Total income tax expense	$	1,242	$	468		$	995

Reconciliation of the statutory federal income tax rate to the effective income tax rate on income from operations

Reconciliation of the statutory federal income tax rate to the effective income tax rate
	For the years ended December 31,
($ in millions)	2019					2018					2017
Income before income taxes	$	6,089				$	2,628				$	4,549
Statutory federal income tax rate on income from operations	1,279			21.0	%	552			21.0	%	1,592			35.0	%
Tax credits	(33		)	(0.5	)	(34		)	(1.3	)	(59		)	(1.3	)
Share-based payments	(24		)	(0.4	)	(16		)	(0.6	)	(63		)	(1.4	)
Tax-exempt income	(27		)	(0.4	)	(24		)	(0.9	)	(32		)	(0.7	)
State income taxes	41			0.7		27			1.0		21			0.5
Tax Legislation benefit	—			—		(29		)	(1.1	)	(509		)	(11.2	)
Non-deductible goodwill impairment	—			—		—			—		44			1.0
Other	6			—		(8		)	(0.3	)	1			—
Effective income tax rate on income from operations	$	1,242		20.4	%	$	468		17.8	%	$	995		21.9	%