XML 45 R27.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Derivative Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Volume and fair value positions of derivative instruments and location in the Consolidated Statement of Financial Position | The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Condensed Consolidated Statement of Financial Position as of June 30, 2017.
($ in millions, except number of contracts) |  |  | Volume (1) |  |  |  |  |  |
| Balance sheet location |  | Notional amount |  | Number of contracts |  | Fair value, net |  | Gross asset |  | Gross liability
Asset derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate cap agreements | Other investments |  | $ | 22 |  |  | n/a |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Equity and index contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options | Other investments |  | 585 |  |  | 6,798 |  |  | 110 |  |  | 113 |  |  | (3 | )
Financial futures contracts | Other assets |  | — |  |  | 519 |  |  | — |  |  | — |  |  | — |
Foreign currency contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forwards | Other investments |  | 344 |  |  | n/a |  |  | (7 | ) |  | 2 |  |  | (9 | )
Credit default contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit default swaps – buying protection | Other investments |  | 49 |  |  | n/a |  |  | (2 | ) |  | — |  |  | (2 | )
Credit default swaps – selling protection | Other investments |  | 80 |  |  | n/a |  |  | 1 |  |  | 1 |  |  | — |
Other contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other contracts | Other assets |  | 3 |  |  | n/a |  |  | — |  |  | — |  |  | — |
Total asset derivatives |  |  | $ | 1,083 |  |  | 7,317 |  |  | $ | 102 |  |  | $ | 116 |  |  | $ | (14 | )
Liability derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency swap agreements | Other liabilities & accrued expenses |  | $ | 49 |  |  | n/a |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |
Derivatives not designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate cap agreements | Other liabilities & accrued expenses |  | 37 |  |  | n/a |  |  | 1 |  |  | 1 |  |  | — |
Equity and index contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options and futures | Other liabilities & accrued expenses |  | — |  |  | 8,896 |  |  | (42 | ) |  | — |  |  | (42 | )
Foreign currency contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forwards | Other liabilities & accrued expenses |  | 621 |  |  | n/a |  |  | (2 | ) |  | 8 |  |  | (10 | )
Embedded derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed accumulation benefits | Contractholder funds |  | 246 |  |  | n/a |  |  | (28 | ) |  | — |  |  | (28 | )
Guaranteed withdrawal benefits | Contractholder funds |  | 282 |  |  | n/a |  |  | (7 | ) |  | — |  |  | (7 | )
Equity-indexed and forward starting options in life and annuity product contracts | Contractholder funds |  | 1,753 |  |  | n/a |  |  | (250 | ) |  | — |  |  | (250 | )
Credit default contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit default swaps – buying protection | Other liabilities & accrued expenses |  | 173 |  |  | n/a |  |  | (5 | ) |  | — |  |  | (5 | )
Credit default swaps – selling protection | Other liabilities & accrued expenses |  | 130 |  |  | n/a |  |  | — |  |  | — |  |  | — |
Subtotal |  |  | 3,242 |  |  | 8,896 |  |  | (333 | ) |  | 9 |  |  | (342 | )
Total liability derivatives |  |  | 3,291 |  |  | 8,896 |  |  | (331 | ) |  | $ | 11 |  |  | $ | (342 | )
Total derivatives |  |  | $ | 4,374 |  |  | 16,213 |  |  | $ | (229 | ) |  |  |  |  |  |
__________________
(1) | Volume for OTC and cleared derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)
The following table provides a summary of the volume and fair value positions of derivative instruments as well as their reporting location in the Consolidated Statement of Financial Position as of December 31, 2016.
($ in millions, except number of contracts) |  |  | Volume (1) |  |  |  |  |  |
| Balance sheet location |  | Notional amount |  | Number of contracts |  | Fair value, net |  | Gross asset |  | Gross liability
Asset derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency swap agreements | Other investments |  | $ | 49 |  |  | n/a |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | — |
Derivatives not designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate cap agreements | Other investments |  | 65 |  |  | n/a |  |  | 1 |  |  | 1 |  |  | — |
Equity and index contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options | Other investments |  | — |  |  | 3,972 |  |  | 88 |  |  | 88 |  |  | — |
Financial futures contracts | Other assets |  | — |  |  | 261 |  |  | — |  |  | — |  |  | — |
Foreign currency contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forwards | Other investments |  | 759 |  |  | n/a |  |  | — |  |  | 24 |  |  | (24 | )
Credit default contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit default swaps – buying protection | Other investments |  | 87 |  |  | n/a |  |  | (4 | ) |  | — |  |  | (4 | )
Credit default swaps – selling protection | Other investments |  | 140 |  |  | n/a |  |  | 2 |  |  | 2 |  |  | — |
Other contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other contracts | Other assets |  | 3 |  |  | n/a |  |  | 1 |  |  | 1 |  |  | — |
Subtotal |  |  | 1,054 |  |  | 4,233 |  |  | 88 |  |  | 116 |  |  | (28 | )
Total asset derivatives |  |  | $ | 1,103 |  |  | 4,233 |  |  | $ | 93 |  |  | $ | 121 |  |  | $ | (28 | )
Liability derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as accounting hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and index contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options and futures | Other liabilities & accrued expenses |  | $ | — |  |  | 4,848 |  |  | $ | (39 | ) |  | $ | — |  |  | $ | (39 | )
Embedded derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guaranteed accumulation benefits | Contractholder funds |  | 391 |  |  | n/a |  |  | (34 | ) |  | — |  |  | (34 | )
Guaranteed withdrawal benefits | Contractholder funds |  | 290 |  |  | n/a |  |  | (9 | ) |  | — |  |  | (9 | )
Equity-indexed and forward starting options in life and annuity product contracts | Contractholder funds |  | 1,751 |  |  | n/a |  |  | (247 | ) |  | — |  |  | (247 | )
Credit default contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit default swaps – buying protection | Other liabilities & accrued expenses |  | 136 |  |  | n/a |  |  | (2 | ) |  | — |  |  | (2 | )
Credit default swaps – selling protection | Other liabilities & accrued expenses |  | 105 |  |  | n/a |  |  | (3 | ) |  | — |  |  | (3 | )
Subtotal |  |  | 2,673 |  |  | 4,848 |  |  | (334 | ) |  | — |  |  | (334 | )
Total liability derivatives |  |  | 2,673 |  |  | 4,848 |  |  | (334 | ) |  | $ | — |  |  | $ | (334 | )
Total derivatives |  |  | $ | 3,776 |  |  | 9,081 |  |  | $ | (241 | ) |  |  |  |  |  |
__________________
(1) | Volume for OTC and cleared derivative contracts is represented by their notional amounts. Volume for exchange traded derivatives is represented by the number of contracts, which is the basis on which they are traded. (n/a = not applicable)
Schedule of gross and net amount for the Company's OTC derivatives subject to enforceable master netting arrangements | The following table provides gross and net amounts for the Company’s OTC derivatives, all of which are subject to enforceable master netting agreements.
($ in millions) |  |  | Offsets |  |  |  |  |  |
| Gross amount |  | Counter-party netting |  | Cash collateral (received) pledged |  | Net amount on balance sheet |  | Securities collateral (received) pledged |  | Net amount
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset derivatives | $ | 20 |  |  | $ | (25 | ) |  | $ | 6 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Liability derivatives | (29 | ) |  | 25 |  |  | (4 | ) |  | (8 | ) |  | 3 |  |  | (5 | )
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset derivatives | $ | 31 |  |  | $ | (28 | ) |  | $ | 19 |  |  | $ | 22 |  |  | $ | (9 | ) |  | $ | 13 |
Liability derivatives | (33 | ) |  | 28 |  |  | — |  |  | (5 | ) |  | 4 |  |  | (1 | )
Impacts on operations and AOCI from foreign currency contracts, cash flow hedges | The following table provides a summary of the impacts of the Company’s foreign currency contracts in cash flow hedging relationships. Amortization of net gains from accumulated other comprehensive income related to cash flow hedges is expected to be a gain of $3 million during the next twelve months. There was no hedge ineffectiveness reported in realized gains and losses for the three months and six months ended June 30, 2017 or 2016.
($ in millions) | Three months ended June 30, |  | Six months ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Gain (loss) recognized in OCI on derivatives during the period | $ | — |  |  | $ | 1 |  |  | $ | (2 | ) |  | $ | (1 | )
(Loss) gain recognized in OCI on derivatives during the term of the hedging relationship | (1 | ) |  | 2 |  |  | (1 | ) |  | 2 |
Gain reclassified from AOCI into income (net investment income) | 1 |  |  | — |  |  | 1 |  |  | — |
Gain reclassified from AOCI into income (realized capital gains and losses) | — |  |  | 3 |  |  | — |  |  | 3 |
Gains and losses from valuation, settlements, and hedge ineffectiveness, fair value hedges and derivatives not designated as hedges | The following tables present gains and losses from valuation and settlements reported on derivatives not designated as accounting hedging instruments in the Condensed Consolidated Statements of Operations. For the three months and six months ended June 30, 2017 and 2016, the Company had no derivatives used in fair value hedging relationships.
($ in millions) | Realized capital gains and losses |  | Life and annuity contract benefits |  | Interest credited to contractholder funds |  | Operating costs and expenses |  | Total gain (loss) recognized in net income on derivatives
Three months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and index contracts | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 14 |
Embedded derivative financial instruments | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Foreign currency contracts | (8 | ) |  | — |  |  | — |  |  | 4 |  |  | (4 | )
Total | $ | (8 | ) |  | $ | 1 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | 11 |
Six months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and index contracts | $ | (7 | ) |  | $ | — |  |  | $ | 22 |  |  | $ | 12 |  |  | $ | 27 |
Embedded derivative financial instruments | — |  |  | 8 |  |  | (4 | ) |  | — |  |  | 4 |
Foreign currency contracts | (15 | ) |  | — |  |  | — |  |  | 5 |  |  | (10 | )
Credit default contracts | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Total | $ | (23 | ) |  | $ | 8 |  |  | $ | 18 |  |  | $ | 17 |  |  | $ | 20 |
Three months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | )
Equity and index contracts | (5 | ) |  | — |  |  | 2 |  |  | 4 |  |  | 1 |
Embedded derivative financial instruments | — |  |  | 14 |  |  | (5 | ) |  | — |  |  | 9 |
Foreign currency contracts | 6 |  |  | — |  |  | — |  |  | (16 | ) |  | (10 | )
Credit default contracts | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Total | $ | (1 | ) |  | $ | 14 |  |  | $ | (3 | ) |  | $ | (12 | ) |  | $ | (2 | )
Six months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | )
Equity and index contracts | (5 | ) |  | — |  |  | (5 | ) |  | 4 |  |  | (6 | )
Embedded derivative financial instruments | — |  |  | (2 | ) |  | (3 | ) |  | — |  |  | (5 | )
Foreign currency contracts | 1 |  |  | — |  |  | — |  |  | (21 | ) |  | (20 | )
Credit default contracts | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Total | $ | (10 | ) |  | $ | (2 | ) |  | $ | (8 | ) |  | $ | (17 | ) |  | $ | (37 | )
Counterparty credit exposure by counterparty credit rating | The following table summarizes the counterparty credit exposure by counterparty credit rating as it relates to the Company’s OTC derivatives.
($ in millions) |  | June 30, 2017 |  | December 31, 2016
Rating (1) |  | Number of counter- parties |  | Notional amount (2) |  | Credit exposure (2) |  | Exposure, net of collateral (2) |  | Number of counter- parties |  | Notional amount (2) |  | Credit exposure (2) |  | Exposure, net of collateral (2)
AA- |  | 2 |  |  | $ | 140 |  |  | $ | 1 |  |  | $ | — |  |  | 2 |  |  | $ | 80 |  |  | $ | 2 |  |  | $ | 2 |
A+ |  | 4 |  |  | 775 |  |  | 6 |  |  | 1 |  |  | 5 |  |  | 698 |  |  | 20 |  |  | 9 |
A- |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 110 |  |  | 1 |  |  | 1 |
Total |  | 6 |  |  | $ | 915 |  |  | $ | 7 |  |  | $ | 1 |  |  | 8 |  |  | $ | 888 |  |  | $ | 23 |  |  | $ | 12 |
_______________
(1) | Rating is the lower of S&P or Moody’s ratings.
(2) | Only OTC derivatives with a net positive fair value are included for each counterparty.
Derivative instruments with credit features in a liability position, including fair value of assets and collateral netted against the liability | The following summarizes the fair value of derivative instruments with termination, cross-default or collateral credit-risk-contingent features that are in a liability position, as well as the fair value of assets and collateral that are netted against the liability in accordance with provisions within legally enforceable MNAs.
($ in millions) | June 30, 2017 |  | December 31, 2016
Gross liability fair value of contracts containing credit-risk-contingent features | $ | 20 |  |  | $ | 9 |
Gross asset fair value of contracts containing credit-risk-contingent features and subject to MNAs | (12 | ) |  | (7 | )
Collateral posted under MNAs for contracts containing credit-risk-contingent features | (3 | ) |  | — |
Maximum amount of additional exposure for contracts with credit-risk-contingent features if all features were triggered concurrently | $ | 5 |  |  | $ | 2 |
CDS notional amounts by credit rating and fair value of protection sold | The following table shows the CDS notional amounts by credit rating and fair value of protection sold.
($ in millions) | Notional amount |  |
| AA |  | A |  | BBB |  | BB and lower |  | Total |  | Fair value
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single name |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 5 |  |  | $ | 30 |  |  | $ | — |
First-to-default Basket |  |  |  |  |  |  |  |  |  |  |  |
Municipal | — |  |  | — |  |  | 100 |  |  | — |  |  | 100 |  |  | — |
Index |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt | 1 |  |  | 17 |  |  | 49 |  |  | 13 |  |  | 80 |  |  | 1 |
Total | $ | 1 |  |  | $ | 17 |  |  | $ | 174 |  |  | $ | 18 |  |  | $ | 210 |  |  | $ | 1 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single name |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt | $ | 20 |  |  | $ | 10 |  |  | $ | 35 |  |  | $ | — |  |  | $ | 65 |  |  | $ | 1 |
First-to-default Basket |  |  |  |  |  |  |  |  |  |  |  |
Municipal | — |  |  | — |  |  | 100 |  |  | — |  |  | 100 |  |  | (3 | )
Index |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt | 1 |  |  | 19 |  |  | 50 |  |  | 10 |  |  | 80 |  |  | 1 |
Total | $ | 21 |  |  | $ | 29 |  |  | $ | 185 |  |  | $ | 10 |  |  | $ | 245 |  |  | $ | (1 | )

X
- Definition Tabular disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
Name: | all_OffsettingAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of CDS notional amounts by credit rating and fair value of protection sold. + References No definition available. + Details
Name: | all_ScheduleOfDerivativeCDSNotionalAmountByCreditRatingAndFairValueOfProtectionSoldTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of counterparty credit exposure by counterparty credit rating. + References No definition available. + Details
Name: | all_ScheduleOfDerivativeCounterpartyCreditExposureTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of fair value of derivative instruments with termination, cross-default or collateral credit-risk-contingent features that are in a liability position and the fair value of assets and collateral that are netted against the liability. + References No definition available. + Details
Name: | all_ScheduleOfDerivativeInstrumentsCreditFeaturesInLiabilityPositionAndNettingTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of the location and amount of gains and losses reported in the statement of operations (or when applicable, the statement of financial position, for example, gains and losses initially recognized in other comprehensive income) on derivative instruments designated as cash flow hedging relationships. + References No definition available. + Details
Name: | all_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceCashFlowHedgesTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of gains and losses from valuation, settlements, and hedge ineffectiveness reported on derivatives used in fair value hedging relationships and derivatives not designated as accounting hedging instruments in the statement of operations. + References No definition available. + Details
Name: | all_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceValuationSettlementsHedgeIneffectivenessFairValueHedgesAndNotDesignatedHedgesTableTextBlock
Namespace Prefix: | all_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration