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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2021
Stockholders' Equity Note [Abstract] |
Schedule of amounts related to each component of OCI |
| Three Months Ended September 30,
| 2021 |  | 2020
| Pretax | Income Tax Benefit (Expense) | Net of Tax |  | Pretax | Income Tax Benefit (Expense) | Net of Tax
| (in millions)
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |
Net unrealized gains (losses) on securities arising during the period (1) | $ | (79) |  | $ | 21 |  | $ | (58) |  |  | $ | 225 |  | $ | (53) |  | $ | 172 |
Reclassification of net (gains) losses on securities included in net income (2) | (502) |  | 105 |  | (397) |  |  | (4) |  | 1 |  | (3) |
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables | 147 |  | (31) |  | 116 |  |  | (94) |  | 20 |  | (74) |
Net unrealized gains (losses) on securities | (434) |  | 95 |  | (339) |  |  | 127 |  | (32) |  | 95 |
Foreign currency translation | (28) |  | 6 |  | (22) |  |  | 27 |  | — |  | 27 |
Total other comprehensive income (loss) | $ | (462) |  | $ | 101 |  | $ | (361) |  |  | $ | 154 |  | $ | (32) |  | $ | 122 |
| Nine Months Ended September 30,
| 2021 |  | 2020
| Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax |  | Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax
| (in millions)
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities arising during the period (1) | $ | (433) |  |  | $ | 108 |  |  | $ | (325) |  |  | $ | 562 |  |  | $ | (118) |  |  | $ | 444 |
Reclassification of net (gains) losses on securities included in net income (2) | (553) |  |  | 116 |  |  | (437) |  |  | — |  |  | — |  |  | — |
Impact of DAC, DSIC, unearned revenue, benefit reserves and reinsurance recoverables | 284 |  |  | (60) |  |  | 224 |  |  | (223) |  |  | 47 |  |  | (176) |
Net unrealized gains (losses) on securities | (702) |  |  | 164 |  |  | (538) |  |  | 339 |  |  | (71) |  |  | 268 |
Defined benefit plans | 37 |  |  | (8) |  |  | 29 |  |  | — |  |  | — |  |  | — |
Foreign currency translation | (27) |  |  | 6 |  |  | (21) |  |  | (15) |  |  | 1 |  |  | (14) |
Total other comprehensive income (loss) | $ | (692) |  |  | $ | 162 |  |  | $ | (530) |  |  | $ | 324 |  |  | $ | (70) |  |  | $ | 254 |
(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period. (2) Reclassification amounts are recorded in net investment income.
Schedule of changes in the balances of each component of AOCI |
| Net Unrealized Gains (Losses) on Securities |  | Net Unrealized Gains (Losses) on Derivatives |  | Defined Benefit Plans |  | Foreign Currency Translation |  | Other |  | Total
| (in millions)
Balance, July 1, 2021 | $ | 784 |  | $ | 5 |  | $ | (175) |  | $ | (153) |  | $ | (1) |  | $ | 460
OCI before reclassifications | 58 |  | — |  | — |  | (22) |  | — |  | 36
Amounts reclassified from AOCI | (397) |  | — |  | — |  | — |  | — |  | (397)
Total OCI | (339) |  | — |  | — |  | (22) |  | — |  | (361)
Balance, September 30, 2021 | $ | 445 |  | $ | 5 |  | $ | (175) |  | $ | (175) |  | $ | (1) |  | $ | 99
Balance, January 1, 2021 | $ | 983 |  | $ | 5 |  | $ | (204) |  | $ | (154) |  | $ | (1) |  | $ | 629
OCI before reclassifications | (101) |  | — |  | 29 |  | (21) |  | — |  | (93)
Amounts reclassified from AOCI | (437) |  | — |  | — |  | — |  | — |  | (437)
Total OCI | (538) |  | — |  | 29 |  | (21) |  | — |  | (530)
Balance, September 30, 2021 | $ | 445 |  | $ | 5 |  | $ | (175) |  | $ | (175) |  | $ | (1) |  | $ | 99
| Net Unrealized Gains (Losses) on Securities |  | Net Unrealized Gains (Losses) on Derivatives |  | Defined Benefit Plans |  | Foreign Currency Translation |  | Other |  | Total
| (in millions)
Balance, July 1, 2020 | $ | 749 |  | $ | 6 |  | $ | (138) |  | $ | (222) |  | $ | (1) |  | $ | 394
OCI before reclassifications | 98 |  | — |  | — |  | 27 |  | — |  | 125
Amounts reclassified from AOCI | (3) |  | — |  | — |  | — |  | — |  | (3)
Total OCI | 95 |  | — |  | — |  | 27 |  | — |  | 122
Balance, September 30, 2020 | $ | 844 |  | $ | 6 |  | $ | (138) |  | $ | (195) |  | $ | (1) |  | $ | 516
Balance, January 1, 2020 | $ | 576 |  | $ | 6 |  | $ | (138) |  | $ | (181) |  | $ | (1) |  | $ | 262
OCI before reclassifications | 268 |  | — |  | — |  | (14) |  | — |  | 254
Total OCI | 268 |  | — |  | — |  | (14) |  | — |  | 254
Balance, September 30, 2020 | $ | 844 |  | $ | 6 |  | $ | (138) |  | $ | (195) |  | $ | (1) |  | $ | 516

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