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Deferred Acquisition Costs and Deferred Sales Inducement Costs | 9 Months Ended
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Sep. 30, 2020
Deferred Charges, Insurers [Abstract] |
Deferred acquisition costs and deferred sales inducement costs [Text Block] | During the third quarter of the year, management updated market-related inputs and implemented model changes related to the living benefit valuation. In addition, management conducted its annual review of life insurance and annuity valuation assumptions relative to current experience and management expectations including modeling changes. These aforementioned changes are collectively referred to as unlocking. The impact of unlocking to DAC in both the third quarter of 2020 and 2019 primarily reflected an unfavorable impact from updates to interest rate assumptions, partially offset by a favorable impact from lower surrenders on variable annuities with living benefit guarantees. The balances of and changes in DAC were as follows:
| 2020 |  | 2019
(in millions)
Balance at January 1 | $ | 2,698 |  |  | $ | 2,776 |
Capitalization of acquisition costs | 162 |  |  | 226 |
Amortization | (249) |  |  | (172) |
Amortization, impact of valuation assumptions review | (100) |  |  | (14) |
Impact of change in net unrealized (gains) losses on securities | (61) |  |  | (175) |
Reclassified to assets held for sale (1) | — |  |  | (15) |
Balance at September 30 | $ | 2,450 |  |  | $ | 2,626 |
(1) On April 2, 2019, the Company announced it signed a definitive agreement with a subsidiary of American Family Mutual Holding Company (American Family Insurance) for the sale of AAH, a business unit of Ameriprise Financial. The Company met the requirements to classify assets related to AAH as held for sale as of June 30, 2019. The balances of and changes in DSIC, which is included in other assets, were as follows:
| 2020 |  | 2019
(in millions)
Balance at January 1 | $ | 218 |  |  | $ | 251 |
Capitalization of sales inducement costs | 1 |  |  | 1 |
Amortization | (19) |  |  | (13) |
Amortization, impact of valuation assumptions review | (16) |  |  | — |
Impact of change in net unrealized (gains) losses on securities | (1) |  |  | (21) |
Balance at September 30 | $ | 183 |  |  | $ | 218 |

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- Definition Discloses the balances of and changes in deferred acquisition costs and deferred sales inducement costs which may include the capitalization of costs, the amortization of costs and the impact of the change in net unrealized securities (gains) and losses. + References No definition available. + Details
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