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FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions | Dec. 31, 2019 USD ($) | Dec. 31, 2018 USD ($)
--- | --- | ---
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | $ 91,262 | $ 82,895
Equity securities |  | 802 | 987
Asset derivatives |  | 482 | 417
Liability derivatives |  | 586 | 387
Assets, fair value |  | 98,070 | 88,788
Liabilities, fair value |  | 586 | 387
Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 687 | 522
Equity securities |  | 80 | 46
Asset derivatives |  | 169 | 182
Assets, fair value |  | 936 | 750
Liabilities, fair value |  | 126 | 102
Net asset value valuation technique |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Equity securities |  | 80 | 46
Net asset value valuation technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Equity securities |  | 80 | 46
Foreign currency swaps |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Asset derivatives |  | 241 | 285
Liability derivatives |  | 204 | 234
Foreign currency swaps | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Asset derivatives |  | 169 | 182
Liability derivatives |  | 126 | 102
Foreign currency swaps | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Discounted cash flow technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Asset derivatives |  | 106 | 125
Liability derivatives |  | 118 | 98
Foreign currency swaps | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Discounted cash flow technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Asset derivatives |  | 63 | 57
Liability derivatives |  | $ 8 | $ 4
Foreign currency swaps | Credit Spread | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Lower Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input |  | 0.0010 | 0.0019
Derivative liability, measurement input |  | 0.0013 | 0.0028
Foreign currency swaps | Credit Spread | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Upper Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input |  | 0.0100 | 0.0120
Derivative liability, measurement input |  | 0.0159 | 0.0211
Dollar-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | $ 38,281 | $ 33,995
Equity securities |  | $ 144 | $ 346
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Lower Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [1] | 0.0189 | 0.0275
Derivative liability, measurement input | [1] | 0.0189 | 0.0275
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Upper Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [1] | 0.0209 | 0.0284
Derivative liability, measurement input | [1] | 0.0209 | 0.0284
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Lower Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [1] | 0.0189 | 0.0275
Derivative liability, measurement input | [1] | 0.0189 | 0.0275
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Upper Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [1] | 0.0209 | 0.0284
Derivative liability, measurement input | [1] | 0.0209 | 0.0284
Yen-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | $ 52,981 | $ 48,900
Equity securities |  | $ 658 | $ 641
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Lower Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [2] | 0.0012 | 0.0018
Derivative liability, measurement input | [2] | 0.0012 | 0.0018
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spreads | Upper Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [2] | 0.0043 | 0.0071
Derivative liability, measurement input | [2] | 0.0043 | 0.0071
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Lower Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [2] | 0.0012 | 0.0018
Derivative liability, measurement input | [2] | 0.0012 | 0.0018
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Upper Limit | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Derivative asset, measurement input | [2] | 0.0043 | 0.0071
Derivative liability, measurement input | [2] | 0.0043 | 0.0071
Mortgage- and asset-backed securities |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | $ 410 | $ 339
Mortgage- and asset-backed securities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 178 | 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 178 | 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 178 | 177
Mortgage- and asset-backed securities | Dollar-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 156 | 162
Mortgage- and asset-backed securities | Yen-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 254 | 177
Banks/financial institutions |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 10,287 | 8,918
Banks/financial institutions | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 23 | 23
Banks/financial institutions | Consensus pricing valuation technique |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 23 | 23
Banks/financial institutions | Consensus pricing valuation technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 23 | 23
Banks/financial institutions | Dollar-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 3,521 | 3,214
Banks/financial institutions | Yen-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 6,766 | 5,704
Public utilities |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 6,780 | 7,171
Public utilities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 224 | 109
Public utilities | Discounted cash flow technique |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 224 | 109
Public utilities | Discounted cash flow technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 224 | 109
Public utilities | Dollar-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 4,519 | 5,163
Public utilities | Yen-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 2,261 | 2,008
Other corporate |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 34,496 | 29,002
Other corporate | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 262 | 213
Other corporate | Discounted cash flow technique |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 262 | 213
Other corporate | Discounted cash flow technique | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 262 | 213
Other corporate | Dollar-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | 28,253 | 23,545
Other corporate | Yen-denominated |  |  |
Fair Value Measurement Inputs and Valuation Technique |  |  |
Available for sale, fixed maturity securities |  | $ 6,243 | $ 5,457
[1] | Inputs derived from U.S. long-term rates to accommodate long maturity nature of the Company's swaps
[2] | Inputs derived from Japan long-term rates to accommodate long maturity nature of the Company's swaps

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- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118942338&loc=SL82898722-210454 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26610-111562 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563 + Details
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 + Details
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