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v3.20.2

Segment Information - Operating net revenues (Details 2) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | $ 2,765 |  | $ 3,247 |  | $ 5,716 |  | $ 6,365 |
Net Realized Gains (Losses) | (3) |  | 0 |  | (23) |  | 9 |
Revenues attributable to CIEs | 15 |  | 24 |  | 31 |  | 45 |
Market impact on IUL benefits | (66) |  | (8) |  | (11) |  | (25) |
Mean reversion impacts, net revenue | 1 |  | 0 |  | 0 |  | 0 |
Market impact of hedges on investments | 0 |  | (18) |  | 0 |  | (28) |
Restructuring Charges | 0 |  | 0 |  | 0 |  | (3) |
Total net revenues | 2,712 |  | 3,245 |  | 5,713 |  | 6,363 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | 577 |  | 673 |  | 1,229 |  | 1,308 |
Net Realized Gains (Losses) including DAC offset | (2) |  | 0 |  | (22) |  | 9 |
Net Income of Consolidated Investment Entities | 0 |  | 1 |  | (2) |  | 1 |
Market impact on variable annuity guaranteed benefits | (988) |  | (60) |  | 701 |  | (202) |
Market impact on IUL benefits | (122) |  | (26) |  | (31) |  | (77) |
Market impact on fixed annuity benefits | (3) |  | 1 |  | 0 |  | 1 |
Mean reversion related impacts | 14 |  | 18 |  | (47) |  | 54 |
Market impact of hedges on investments | 0 |  | (18) |  | 0 |  | (28) |
Integration and restructuring charges | (2) |  | (2) |  | (3) |  | (9) |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (526) |  | 587 |  | 1,825 |  | 1,057 |
Advice and Wealth Management [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 1,537 |  | 1,653 |  | 3,232 |  | 3,207 |
Total net revenues | 1,329 |  | 1,423 |  | 2,802 |  | 2,758 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | 271 |  | 376 |  | 649 |  | 726 |
Asset Management [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 668 |  | 712 |  | 1,354 |  | 1,401 |
Total net revenues | 655 |  | 698 |  | 1,328 |  | 1,374 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | 141 |  | 164 |  | 298 |  | 310 |
Annuities [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 583 |  | 620 |  | 1,172 |  | 1,224 |
Total net revenues | 493 |  | 529 |  | 992 |  | 1,045 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | 155 |  | 129 |  | 250 |  | 257 |
Protection [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 257 |  | 259 |  | 514 |  | 521 |
Total net revenues | 242 |  | 244 |  | 485 |  | 491 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | 70 |  | 65 |  | 142 |  | 139 |
Corporate and Other [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 46 |  | 352 |  | 108 |  | 694 |
Reconciliation of operating profit (loss) from segments to consolidated |  |  |  |  |  |  |  |
Segment Reporting Information Operating Earnings | (60) |  | (61) |  | (110) |  | (124) |
Eliminations [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 326 | [1] | 349 | [1] | 664 | [2] | 682 | [2]
Consolidation, eliminations [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 328 |  | 350 |  | 668 |  | 686 |
Consolidation, eliminations [Member] | Advice and Wealth Management [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 208 |  | 230 |  | 430 |  | 449 |
Consolidation, eliminations [Member] | Asset Management [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 13 |  | 14 |  | 26 |  | 27 |
Consolidation, eliminations [Member] | Annuities [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 90 |  | 91 |  | 180 |  | 179 |
Consolidation, eliminations [Member] | Protection [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | 15 |  | 15 |  | 29 |  | 30 |
Consolidation, eliminations [Member] | Corporate and Other [Member] |  |  |  |  |  |  |  |
Summary of segment operating results [Abstract] |  |  |  |  |  |  |  |
Total segment adjusted operating revenues | $ 0 |  | $ (1) |  | $ (1) |  | $ (3) |
[1] | Represents the elimination of intersegment revenues recognized for the three months ended June 30, 2020 and 2019 in each segment as follows: Advice & Wealth Management ($208 million and $230 million, respectively); Asset Management ($13 million and $14 million, respectively); Annuities ($90 million and $91 million, respectively); Protection ($15 million and $15 million, respectively); and Corporate & Other (nil and $(1) million, respectively).
[2] | Represents the elimination of intersegment revenues recognized for the six months ended June 30, 2020 and 2019 in each segment as follows: Advice & Wealth Management ($430 million and $449 million, respectively); Asset Management ($26 million and $27 million, respectively); Annuities ($180 million and $179 million, respectively); Protection ($29 million and $30 million, respectively); and Corporate & Other ($(1) million and $(3) million, respectively).

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